Football Futures: Sucker Bets?
The vig or sportsbook commission on most futures market is big - and can run as high as 40%. So the old philosophy was
certainly that you should stay away from these poor value markets as too much goes to the book. But things have changed
for football gambling enthusiasts over the last five years or so - because they now have the ability to hedge their
positions on the betting exchanges.
The sportsbooks still take the same amount of commission - but the exchanges allow you to lay back the bet or hedge it
with similar prices going the other way.
Often you can find immediate arbitrage or hedging opportunities. For example you might find the Pittsburgh
Steelers at 10/1 with one book and 8/1 on the exchanges. If you back the 10/1 and lay (offer) the 8/1 on the exchanges
you immediately have 2/1 free bet position.
You can also gamble a little and take an outsider that you consider to be value at e.g 50/1 and if the team does well
at the beginning of the season or over the course of the season, the price will shorten. You might therefore find yourself
in a position where you have backed the team at, say, 50/1 and can lay it off at 25/1, 10/1 or even less. You would then
enjoy a big pay day if the team won. You can also adjust your 'lay back' stake to ensure a profit win or lose.
You can also virtually dispense with the term 'football gambling' on these types of bet - as you are cutting out
a lot of risk.
In the futures markets, these types of football gambling or other sports bets can reap dividends especially when you
consider that you can create positions on a number of different teams in the same market. To make it worthwhile you will need
a decent sized betting fund and you should over-stake your bets as laying them back cuts the dividend.
Futures markets can be a profitable way to bet.
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