What is an outright bet?
An outright bet is a wager on the overall winner of a whole competition, such as a league, tournament or season award, and is known as a futures bet in the US.
Most bets are about one game. An outright is about the whole thing: who lifts the trophy, who wins the golf tournament, who finishes as top scorer, who gets relegated.
UK and European bookies file these under Outrights. US sportsbooks file them under Futures. In horse racing the closest relative is ante-post betting. Markets open months ahead and stay open, with changing prices, until the competition is decided.
Example
In August you back a team to win the league at 8.00 with a $25 stake.
- They win the title in May: $200 back, a $175 profit.
- They finish second: you lose $25. (Unless you bet each-way; see below.)
By March they’re top of the table and their price has dropped to 2.50. Your 8.00 ticket now looks very good, and you have options: let it run, or hedge by backing the main rival.
Where you’ll see it
- League and cup winners, top-four finishes, relegation.
- Golf and tennis tournament winners. These are often bet each-way, with part of your stake paying out if your player finishes in the places.
- Season awards such as MVP or top goalscorer, and US season win totals.
Watch out
- Your money is locked up. $25 staked in August does nothing until May. With a small bankroll that matters.
- Margins are high. A market with 20 runners gives the bookie room to shave every price. Add up the implied chances in a league-winner market and you’ll often land well above 100%.
- Rules on withdrawals. If your player pulls out injured before the event, many outright bets simply lose. Check whether the market refunds non-starters.
- Ties. Shared top-scorer awards are settled by dead heat rules, which cut your payout.
I like one or two small outrights a season. They make nine months more fun for the price of a pizza.