A futures bet is a bet in an event where there are many competitors, sometimes made long in advance of the event taking place. Futures are most common in events like motor racing, NASCAR, horse racing, or golf, among others. Futures are also posted in major competitions, like Major League Baseball and the NFL, at the start of the season, where players can get better odds on a team in which they have confidence than they would get later in the season. Because of the number of competitors, futures bets offer larger payouts. The larger payoffs are offset by the increased difficulty of picking a winner.
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