This type of bet requires stamina. The level of excitement doesn't come close to instant sports betting, but long term bets often provide tempting odds. As the name implies, the result of a long term bet generally will be decided after weeks or months only, as with this type of bet it's not about a certain game or competition, but rather about a development in the long run which may span over the course of a whole tournament or season.
Conventional long term bets or futures can be placed on the outcome of a soccer championship, on potential cup winners, Champions League winners and the like.
When to place a future and how long to wait
As was mentioned already, this type of bet is suited best for players who have the patience necessary to sit it out. Since this is a quality not generally associated with bettors due to the very nature of gambling, these sportsbooks usually account only for a very limited part of sports betting activities. A regular exception to this, however, are World and European Championships in soccer.
Nevertheless, the general lack of popularity of this type of sportsbook has some advantages to it as well. One of them being the fact that bookmakers generally don't put too much effort into adapting the odds of futures to actual developments, because their day to day business is comprised of short term bets primarily. Thus, sports betting fans may find more than decent odds with futures, even more so with regards to potential underdogs.
However, this does not apply to favorite teams, as wagers on these teams usually make up for a big part of the income of any bookmaker. Consequently, this goes for futures as well, which is the reason that even for long term bets, sports betting fans will rarely find decent odds for placing a bet on chalks.
The best moment to place a future is shortly before a tournament or championship begins. Although bettors will have more reliable information after the first games are played, it is an undisclosed secret that bookmakers usually adjust their long term odds quite fast at the beginning of a season, but fail to do so regularly over the remaining period of time. Hence, sports betting fans will most likely find the best lines ultimately before the season begins.