Betting on future events – such as who will win the Campeonato Brasileiro, the Copa do Brasil or the World Cup – is becoming increasingly popular. And it’s not just football that offers future bets (also called outrights). You will also find similar betting options for the Super Bowl, the NBA finals or the Stanley Cup.
In fact, virtually every sports league has future bets available at betting sites: NFL, NBA, MLB, NHL, MLS, Formula 1, golf, tennis and virtually every football league. Just choose your favourite. In many cases, bookmakers open bets on the winner of the tournament before the season even starts.
Why do people bet on futures? Is it a good idea?
Who doesn’t want to feel smarter than the others? Just like everyone else, sports fans like the idea of finding out first who will be the champion or getting any long-term predictions right. Predicting who will win the Brasileirão still in April makes you the best bettor of the bunch.
Furthermore, you can get a real jackpot if you are very clever or very lucky. For example, in 1999, the St. Louis Rams started the NFL season as the underdogs. A bet on the team to win the Super Bowl was priced at $301. In other words, the Rams were multiplying any bet by THIRTY PERCENT. Imagine what a nice profit for any bettor who invested a few reais!
The problem with future bets is that it takes at least six months – or even longer – to receive the result of your bet. That’s a long period to have some of your bankroll money tied up in a single bet. However, there is nothing stopping you from setting aside a small amount, especially to have fun with some future bets. In case it doesn’t work out, the loss will be small. On the other hand, a bet like this can mean an excellent income for you.
The best part about future betting is that each site offers different betting options. So you can compare different bookmakers until you find something that is interesting and get the best odds.
Bankroll management strategies
The ability to figure out which bet will win and manage to invest money in the right team is very important, obviously. However, in the long run, the key aspect of being able to profit from sports betting is doing good bankroll management. Throughout a year, you will live long sequences of victories and also long sequences of defeats. Winning several times is incredible, but losing several times can be very frustrating. The good bettor needs to be prepared.
Experienced bettors, who have an excellent understanding of money management, can survive the lean times without great suffering. In contrast, reckless gamblers often see their bankroll become completely bare or, in some cases, even zeroed out. So what is the key to good bankroll management?
Establish a bankroll
The first step is to define an amount that will be used solely for sports betting. Avoid adding or withdrawing money all the time, as this makes it difficult to keep track of how your funds are going and what your wins and losses have been.
Create an investment pattern
Now that you have established how much money you intend to use as a starting point for your bankroll, you need to set a fixed percentage to bet on. For large bankrolls, consider a standard of 1% to 3%, with 1% you will use on more conservative bets and 3% being for the more aggressive ones. If your bankroll is small and 1% to 3% is not a realistic figure for a bet, consider determining a standard in the 5% to 8% spectrum.
Stick to the plan
Generally, when you find a game you love, it is very tempting to bet a large sum of money. Resist that temptation! Remember your investment pattern and stick to the percentage you have decided to adopt. Always keep an eye on your bankroll. If it increases or decreases substantially, recalculate your investment pattern based on the new amount.
Professional gamblers win approximately 60% of the bets they place, which means they lose the other 40%. Winning 60% of the bets in the long run is more than enough to make a profit. However, betting a very large amount on a single game has great chances of seriously damaging your bankroll. Keep your focus and discipline.