What is a Futures bet?
A Futures bet allows you to bet on an event which is still some time away.
Futures options are opened when the field for the race has not yet been confirmed, meaning that betting will be available for runners which have either been nominated, or are likely to be nominated for the race, however they make not actually take part in it.
These betting markets will close just before the field is due to be released. Once the field is known the Final Field betting market will come available in place of Futures bets. The betting market is also likely to be closed on days that named runners are racing, once these races are completed the market will be re-priced (if applicable) and betting re-opened.
What are the pros and cons of taking a Futures bet?
The advantage to taking a Futures bet is that as your runner is not a certainty to race you receive better odds than if you waited to take a bet on the Final Field market.
There are risks involved with betting on Futures events. It is an ‘all in’ event, meaning that if your runner does not take part in the race there are no refunds of your bet, this is notified with the wording ‘No refunds’ listed on the betting slip on tab.co.nz and the racelists instore.
While the odds for a runner on a Futures market may change based on the runners form, and where the betting money is being invested, the odds are fixed. This means that if you place a bet at odds of $10.00 on a Futures bet these will not change, unlike Final Field bets there are no deductions when another runner is scratched after you have placed your bet.
Futures bets are typically only for the win, however on some of the biggest races (such as the Melbourne Cup) we may open a Futures Place betting market. Futures bets can also be included in Multi bets.
How do I take a Futures bet?
Each Futures betting option states ‘quote others’. If you wish to back a runner which is not currently named we can add it to the betting option for you, simply give us a call on 0800 102 106 and advise us of the runner you wish to back, we will then study the runner and post the odds for you.
Futures markets can be found on tab.co.nz by navigating to the racing section, then selecting Fixed Odds (Other). Why not try a Futures bet today and take advantage of the fantastic odds on offer?