What is a Futures Bet?
Futures sports betting is all about investing your money into a longer-term agreement with the bookmaker, such as betting on an NFL team's odds to make the playoffs ahead of the season. They're available at all of the top Ohio betting apps. We place futures knowing our money might be tied up a little longer than we'd like; the upside of it is that it usually means longer odds and more lucrative payouts.
Examples of Futures Bets You Can Make in Ohio
There are plenty of types of future bets to make across the Ohio Sports betting space. Below are some popular types of futures bets you can make in the biggest leagues, and you can even get futures odds on player prop bets.
We can bet on our beloved Cleveland Browns to win the Super Bowl at +3000, despite their historical struggles. We might want to back the Cleveland Guardians to win the World Series before a run is made, or how about backing Jose Ramirez to be Most Valuable Player (MVP)? Whenever you're looking to place a futures bet, we always recommend using a Ohio bet365 bonus code to increase your potential payout.
How to Read Futures Odds
American futures odds will be laid out in list format showing the shortest to the longest from top to bottom. All selections will usually be plus money odds in futures betting. But let's break down what bettors need to know about reading futures odds.
Plus Odds (+)
When reading futures odds, plus odds are what the armchair Ohio sports bettor should be targeting for the best chance of finding some value. Generally, the plus money odds will be offered on underdogs on moneyline bets, spreads and totals. In futures betting in Ohio most options in the futures betting market will be plus money. We can back the Browns for $100 to win the Super Bowl at +3000 and should we get lucky the payout would be $3100 if the wager comes in.
Betting on plus odds and taking advantage of the top Ohio betting promos are two of the best ways to secure lucrative payouts.
Minus Odds (-)
Minus odds in American odds are a little bit different in that they usually represent a strong favorite and work the opposite to plus money. Here we are betting the minus number to return a potential $100 in profit. In NFL futures odds we likely won't see minus odds too often, but if we were betting on individual games and we backed the Browns at home at -200, we would be wagering $200 to win a profit of $100.
To calculate implied probabilities, the formula is risk/over return if we want to use them in a futures betting strategy. For example, if we back a team at +500 for $100, its $100 (risk)/$600 (return) in potential winnings which equates to a probability of .166 or 16.6%.
Ohio Futures Bets Can Be Lucrative
The best thing about betting options in the futures department is the potential payout should you cash your wager. Backing the Cincinnati Bengals for the Super Bowl at +1500 would give us $1500 profit if they won and we wagered just $100. That's much more lucrative than you'd find in a typical point spread bet.
Sometimes we can take advantage of Ohio sportsbook promotions to mitigate risk and use the promotions on futures bets. Keep an eye out for odds boosts or enhanced futures odds promos when placing futures bets.
When Do I Get Paid for a Futures Bet in Ohio
Cash outs on futures bets depend on the wager in question. If we are betting on NHL futures in the Stanley Cup, we'll have to sweat it out until the end of the Playoffs in the National Hockey League to get paid.
It doesn't have to be season long; we can place an Ohio futures bets during the season. Maybe the Bengals are challenging strongly for in the NFL, and we can pick them up at +500 with just a few matches left in the season. We might want to bet a few golfers in the US Open and futures betting odds will be up on this all year round. We can bet the week of the event though and be paid out in a matter of days if we hit.
Popular Futures Bets to Make in Ohio
We can make a myriad of futures bets in Ohio such as NFL futures bets, PGA futures bets, or we can get futures betting odds and make long term bets on the likes of college football or the NBA finals.
- NFL Futures Market
Ohio sports bettors might like some added bite for the season run-in after seeing the Cincinnati Bengals edge out Patrick Mahomes and the Kansas City Chiefs along with other rivals. We could place NFL futures bets on them at +1200 to be crowned champions to make watching the games more exciting. Being contenders for the Super Bowl, there's a decent chance we could see a profit of $1200 per $100 bet.
- NBA Futures Market
We might like our Cleveland Cavaliers to win the National Basketball Association championship, or we might just want to place futures bets on them for the Eastern Conference division. We could find two separate futures betting markets on these wagers around the Ohio sportsbooks. This would double our chances of a payout on our NBA Ohio futures bet.
- MLB Futures Market
Like betting in Maryland and other states, online sports betting will also offer up major league baseball (MLB) futures betting opportunities in Ohio. Professional baseball is thriving in Ohio with the Cincinnati Reds and the Cleveland Guardians. We can place Ohio futures betting wagers on strong odds for these two to win the World Series. Who doesn't like an underdog?
- NHL Futures Market
NHL might not be the biggest sport to bet on in Ohio, but NHL futures odds will also be on offer in the Ohio sportsbooks. We do have the Cleveland Monsters to follow in the American Hockey league if we want some sweat on the ice or we can side with our Columbus Blue Jackets in the National Hockey League's Metropolitan Division in the Eastern Conference. We would get a big odds futures bet here on the Blue Jackets to win the Stanley Cup. We could expect to see odds of around +6600 or higher.
College Football Futures Market
Some bookmakers may offer future bets on the NCAAF if the law permits, and betting on college football will be appealing to Ohio sports bettors. If betting college football is allowed following legislation, the Ohio State Buckeyes will get plenty of support. Prop betting markets on college football and college basketball may not be permitted for fair play reasons.
College Basketball Futures Market
The Ohio State Buckeyes college basketball team represents Ohio State University in NCAAB. The Buckeyes will compete in the NCAA Division and similarly to the college football team, if betting is allowed on college basketball in Ohio, the Buckeyes will take most of the bets.
Other Futures Markets in Ohio
Futures odds on other markets will be offered across Ohio betting operators. It's not just sports we can get futures betting odds on; novelty or politics markets like the next US President are also available. How many Trump supporters do we have in Ohio? The former president was chalked up at +500 and you can vote for or against him, or back your favourite candidate. How about Tiger woods for a miraculous comeback to win the Masters? He did it in 2019! There will be Ohio futures betting odds and markets for most of the popular sports.
Pros & Cons of Making Futures Bets in Ohio
Straight moneyline futures odds are available for most US and European sports. We can also parlay futures bets. Permed bets such as doubles, trebles and four-timers can be combined for a chance at a potential life changing payout. These future bets all give us added interest throughout the season in the sports we are following. It's a great betting option to be able to place a small risk Ohio futures bet with the possibility of it turning into a huge payday, especially on a longshot bet like the Cleveland Browns playoff odds.
Challenges of Ohio Futures Bets
On the other side of the coin the low-risk, high-return policy that's associated with futures bets means our chances of winning a futures bet in Ohio are often slim. Add this to the fact that we are investing funds for a longer period that might be better spent elsewhere, as moneyline bets, for example, payout much quicker.
Where Can I Make a Futures Bet in Ohio?
Most sports betting operators in Ohio will have futures odds and betting markets as part of their product but it's up to you - the Ohio sports bettor - to shop around and find the best price. Line shopping is something you can do to find the best bang for your buck. For example, you could be hitting the Tampa Bay Buccaneers or Green Bay Packers at one sportsbook when another is offering the best odds on them for individual games in the NFL.
Shop around your Ohio sportsbooks as the odds from book to book can vary and there are different betting options across the firms for futures betting in Ohio. We can also visit retail betting outlets in Ohio to place our futures bets.
Our Top Site for Futures Bets in Ohio:
FanDuel Ohio is one of the biggest operators in the state offering futures betting markets. They offer one of the better welcome bonuses and the FanDuel brand is recognizable across the US betting and Fantasy industry. The big-name operators tend to cover all the major sports in the US and will also have an array of college sports futures markets if allowed.
More obscure sports will be covered such as golf and UFC which throws up opportunities for the bettor to find some good value in futures odds. It may also be possible to request futures odds at FanDuel sportsbook if there's something that particularly takes your fancy.
Futures Betting Strategy For Ohio Bettors
Learning about reading futures odds and looking for angles is all part of a good futures betting strategy. Here are a few ways we can put the odds in our favor:
Line Shop Different Ohio Sportsbooks for the Best Value
We talked a bit about line shopping already and it's not optimal to just take the first price we see on a futures bet we fancy. Betway Ohio could be offering a certain price on Donovan Mitchell being top point scorer for the Cavs, while "Spida" is available at a 20% bigger price at BetMGM Ohio. We need to try and make sure we get top price on as many of our futures bets as we can to maximize expected value. There's a phenomenon known as Synthetic Hold which is where we can literally be playing almost vig free if we make sure to take top prices on the majority of our bets.
Look For Hedging Opportunities
Hedging in futures betting is when we take a position (usually at big odds) early on in a market and then we can manipulate that position as the market matures during play live play. If we back the Cincinnati Bengals preseason for the Super Bowl and they reach the annual playoff finale but are up against a tough opponent we can cash out of our bet. If we equalize our bet having backed them at +1500 and they are now +100 to win the Super Bowl, we could guarantee ourselves a profit and payout at odds paying +700.
Get Those Parlays in!
Let's take a shot at a big payday! Parlaying or perming futures bets is like the sports betting lottery. In each of the four major US sports we could pick our fancy to win the title, such as the World Series or the NBA Championship and put them together in a parlay futures bet. Two winners would give us a nice payout, three it's a bonanza, and an unlikely four winners and we're laughing all the way to the bank! We recommend all parlay bettors use a PointsBet Ohio promo, as the operator is known for its excellent parlay betting options.
Back the Underdogs
Some bettors like to make big futures bets on the favorites but instead of investing vast sums of money for a lengthy period, why not use the low-risk high-reward strategy? Make some smaller futures bets on underdogs at lengthy odds and we won't miss the cash, but we might get a nice jackpot at the end of the season to spruce up the coffers.
Get Started Futures Betting in Ohio
Futures wagers are a great way to add some spice to watching sports. Not only does it increase our utility as sports bettors, but that chance of the lucrative pay day is one worth educating ourselves on. It's an idea to learn a good futures betting strategy including concepts such as shopping around for the best futures odds, or hedging. Futures lines are easy to read, and the futures betting markets are simple to navigate at all OH recommended sportsbooks. We can look for our favorite Ohio sports teams to make a futures wager on for the chance at the jackpot!
Caesars Sportsbook Ohio is a good operator to choose from January on, where you can use the Caesars mobile app from anywhere within the Ohio state lines to place those futures bets.
Ohio Futures Bets FAQ
Sports betting on futures is wagering on a long-term bet that may last a season, for instance. We are usually talking bigger odds on something like the Baltimore Orioles winning the World Series in Major League Baseball.
To bet on futures, simply locate the specific sports and markets you are looking for on the betting website and add them to your bet slip. Place your bet, see the potential returns in your bet receipt, and hope to collect when the bets have been settled.
Certain Maryland sportsbooks will accept Parlays on futures markets. We can do some permutation betting like a round robin which consists of a series of smaller parlays made from a larger list of selections in your multiple or parlay bet.
Once you make your futures bet in Ohio it will stand until the wager is settled at the end of the playing period. Some Ohio betting apps and sportsbooks may offer a cash-out or partial cash-out option.
Most of the top operators will let bettors wager on futures bets, as it's one of the most common bet types available. Some of the standout options for futures betting in Ohio include books like FanDuel Ohio, BetMGM Ohio and PointsBet Ohio.
Bryan Nicholson has a strong pedigree in sports betting and poker with vast experience working with variance and assessing probabilities. Bryan is the author of multiple books on sports betting including Hypnotised by Numbers and Angles and Edges. He is predominantly a golf betting expert who gladly expands his expertise into covering other top markets like hockey and football, and expect to see Bryan writing educational pieces from time to time as well.