Futures markets allow you to bet on events due to take place a significant amount of time into the future. For example, at the start of every CFL preseason, oddsmakers assign futures odds for every single team to win the Grey Cup that year.
These are based on a variety of factors, mainly how good the sportsbook considers the team to be. For example, a favorite like the Winnipeg Blue Bombers could start the year off with +270 odds to win the Grey Cup, while an underdog like the Ottawa Redblacks could have their opening odds set much higher at around +3000.
Every team is given a positive betting value in the Grey Cup winner futures market. Essentially, not even what sportsbooks rate as the best team in the league is favored enough to receive a negative betting value. CFL futures markets can have more than one favorite, and more favorites translates to greater value for CFL bettors due to the competition’s parity.
Other examples of Grey Cup futures available every season include correct matchup and straight forecast futures. Grey Cup futures bets can be placed at any time both before and during the CFL season, and the odds will change throughout it depending on the performance of certain teams. Many CFL bettors choose to place their Grey Cup futures bets earlier on in the season, as this presents a better opportunity to get value from the odds.