All You Need to Know About NBA Futures Betting
For a basketball fan, there’s nothing better than accurately predicting the season’s NBA champions in the form of a futures bet. Combine that satisfaction with an epic payout worthy of such a feat, and you can see why lots of bettors head to the futures market every year to submit their picks for the finals. A subset of these players returns to the pay window after the final game to collect their payouts and celebrate the achievement.
But NBA futures betting is more than just picking the champions; it can also include picking division winners, conference winners and more. We’ll explain how these NBA odds work, so that you can dive into the NBA futures market with the confidence of a seasoned pro.
What are NBA Futures?
NBA futures are a type of bet that involves wagering on a long-term outcome. Unlike game lines, which are resolved that night, futures look far ahead at the end-of-season winners. Examples of futures bets include the league champions, conference winners and division winners. On top of these classic futures bets, there are other options that are more similar to props, such as whether or not the champions will be first-time winners, and which state the winners will be based in.
Futures bets are posted right after a postseason wraps up, as fans look forward to a fresh new start in the fall. Value is usually best before the season begins, but you can still place bets any time during the regular season. The futures odds adjust as the season carries on and near the end, the odds tighten up. However, when you place your NBA futures bet, you’re guaranteed the payout offered at that time.
Once the outcomes are established, bets are graded, and winners are paid automatically. Not long after, new futures odds are posted for the following season, and the champion is typically at the top of the odds board.
Pros and Cons of Futures Betting
Futures betting appeals to people who like the long game. Locking in a bet that will be held for months is not for everyone, but those who do like this style of NBA betting recognize the value that comes with long-term bets. It’s impossible to find +700, +1400 or +2200 odds on any game lines, but you’ll typically see these prices, and better, when browsing the futures market at Bodog.
There’s also a level of confidence that comes from pinpointing the season when your team wins it all. You’ve been reading up on trades and tracking how well your favourite team is developing; you’re in an excellent position to know when your team becomes a true playoff contender.
Futures betting is especially popular during the offseason. Not only is this when the odds are longest, it’s also the only betting option for NBA fans eager to get the new season going. Once the season starts, all betting options become available and futures take a temporary backseat to game lines.
Most Usual NBA Futures Bets
There’s no getting around the fact that some NBA futures bets are more popular than others. We’ll go over the ones that get the most action in the NBA betting section of our sportsbook, starting with NBA finals betting—the place where the champions are separated from the hopefuls.
Bet on NBA Finals
When most people start betting on futures, they’re looking to bet on the finals. All teams are available for betting until they’re eliminated from the playoffs, at which point the teams are removed from the Championship Odds board. Bets are graded after the finals are done, and winners are paid. Here’s what the finals odds board looked like in 2023-24, with just the top three picks included for simplicity:
- Boston Celtics +175
- Denver Nuggets +350
- Los Angeles Clippers +700
Odds appear in the American odds format by default, but can be switched to fractional or decimal using the drop-down menu.
NBA Awards
The NBA awards happen every year to celebrate the league’s top performers. Award categories include regular season MVP, Sixth Man of the Year, Clutch Player of the Year, Coach of the Year, Defensive Player of the Year, Most Improved Player, and so on. Bet on who you think will win some of these prestigious awards; each bet has a handful of viable betting options that are updated throughout the season. Here’s a snapshot of the 2023-24 MVP odds as we near the season end:
- Nikola Jokic (DEN) -2000
- Luka Doncic (DAL) +1500
- Giannis Antetokounmpo (MIL) +1500
- Jayson Tatum (BOS) +1500
How to Read Futures Bets
A futures bet is formatted as a proposition for the outcome of a future event, alongside various betting options. The betting options each have their own set of odds, which are displayed in our sportsbook as American odds by default. The odds coincide with the probability of that bet coming through and then shift based on incoming bets. Some odds may be negative, but the majority are positive. The deeper the negative NBA futures odds, the greater that betting option is favoured to come through. We’ll look at the Central Division Winner futures bet in the 2023-24 season as an example.
- Central Division Winner
- Milwaukee Bucks -800
- Cleveland Cavaliers +550
- Indiana Pacers +25000
The Milwaukee Bucks are heavy -800 favourites to win their division in this example. Because they’re such heavy favourites, it would take an $800 bet to return $100. Meanwhile, the underdog Cavaliers would pay $550 on a $100 bet, and the Pacers would pay $25,000 on a $100 bet since the probability is so low.
Strategies for Futures Betting
Futures bets work well for all styles of basketball bettors. Conservative bettors who prefer to hit wins regularly can stick with division winners, or MVP betting if there’s a standout player that season. Those who prefer greater risk for greater reward could try to predict the league champs early on in the season. A nice balanced approach would be trying to predict the Western and Eastern Conference Champions.
NBA champions have varied a lot in the last two decades, with titles going to the Warriors (4), Spurs (3), Lakers (3), Nuggets (1), Pistons (1), Celtics (1), Mavericks (1), Cavaliers (1), Raptors (1) and Bucks (1). Anyone who scooped up the 2023 champion Denver Nuggets in the pre-season, when they were +1800 to win the finals, would have done well with their bets. The year before, Golden State delivered on their +900 pre-season odds, and the year before that, people who took the Bucks at +550 pre-season made $550 on a $100 bet when Giannis Antetokounmpo and co. came through in the finals and took down the Phoenix Suns in six games.
Pro tip: If you can lock down a futures bet before a major player is added to a team, you get eternal bragging rights and a massive payout to boot.
Bet at Bodog Sportsbook’s Premier Futures Market
The NBA futures market is open 24/7 at Bodog Sportsbook. Sign up for an account, if you haven’t already, deposit funds and browse the betting options. Now that you know what to look for, you can start the process of hunting down the best odds for your favourite teams. A good place to start is with the finals futures; see if you can join the elite group of bettors who’ve successfully picked out a season’s champs and collected a memorable payout.
NBA Futures FAQ
What Does Futures Odds Mean?
Futures are a type of bet that involves a future or long-term result, such as the division winners or conference winners. The odds displayed in the futures section show how much you’d win on a successful bet. Odds are locked in at the time you place your bet.
Can I Parlay NBA Futures Bets?
Most NBA futures bets can’t be parlayed. When you add a futures bet to your bet slip, you’ll be able to see if that particular one can be parlayed. If not, it’ll say “Singles Only”; if it can be parlayed, you’ll see the “Multiples” button appear.
Can I Bet on Future NBA Games?
Futures aren’t for regular season NBA games. For those, you’ll look through the game lines, but these are posted the day of the game, or the day before.
Can I Cash Out a Futures Bet?
Futures bets can be cashed out once they’re graded and payouts are issued. To cash out, you’ll need to log in to your Bodog account and follow the “Withdrawal” steps. Using cryptocurrency as a withdrawal method is the fastest way to cash out your futures bet, but other options are also available.