Outright Betting Guide

Outright betting is a common component in sporting discourse. It is an area of sports gambling that bettors should make sure they are familiar with given the potential for sizeable returns and excellent value.

Just like some might prefer live betting, some like backing totals, and others are keen on player props, plenty of sports gamblers are very engaged with the outright betting markets. This article aims to explain what outright betting is, why it can be of interest, and how you should hone your betting strategy.

What Is Outright Betting?

Outright betting covers several different types of wagers, but most commonly it is about backing a team or player to win a tournament or an award.

For instance, if you placed a bet on the Kansas City Chiefs to win the Super Bowl, this would be an outright NFL bet.

You will sometimes see outright betting referred to as ‘futures’. These markets are open months or even years in advance of the outcome being known, so you are wagering on the outcome of a competition or event with potentially a long period until you will receive a payout.

The ability to cash out on outright betting can make them similar to an investment. If you wagered on the Chicago Cubs to win the World Series at +1000, and their odds considerably shortened, you might be offered to cash out the bet and make a profit.

Outright Betting with FanDuel

Pros and Cons of Outright Betting

The potential for long-odds winners is one of the most appealing things about outright betting. If you craft a solid betting strategy and believe you’ve got a good insight into a sport, then there’s value to be found in the outright betting markets.

The wait for outcomes/a potential payout is one of the major cons, but this also carries a positive. Being able to bet on something like MLB MVP before the season even starts can give intelligent bettors a head start. There is a chance to back a player before the rush, which can mean getting much longer odds.

The potential for long-odds winners is one of the most appealing things about outright betting

As an example, Aaron Judge was an outsider to win the American League MVP a few weeks into the 2024 season. Judge’s underlying numbers were excellent, though, and he soon put together an unprecedented hot streak and became the massive favorite to win the hardware.

Yes, there will not be a payout until the outcome is confirmed, but a lot of sportsbooks will allow you to cash out early if you want to guarantee some winnings or simply don’t want to wait.

Of course, there are plenty of upsets, too. There is inherent risk in any online sports gambling, and the long-term nature of many outright bets means you are more vulnerable to surprise results or injuries.

For instance, if you backed a quarterback to win MVP and they were the heavy favorite in Week 10, you might want to let the bet run to maximize your winnings. The risk, though, is they suffer a season-ending injury and you do not get a payout.

Different Types of Outright Bets

The types of outright bets available will depend on the sportsbook. FanDuel, Caesars, BetMGM, and DraftKings will generally have the biggest range of outright betting markets, whether you’re looking at NFL, NHL, MLB, or NBA.

Below, we have provided a list of some of the most popular types of outright bets:

Winner
Relegation
Top four finish
To qualify
To reach the final
Individual awards
Winner without
To reach the playoffs
To win over X number of games
Top goalscorer
Leader in a statistical category (points, rebounds, assists, etc.)
Group winner
To be drafted first overall
Over/under win totals

This is not an exhaustive list. Other markets will be available, with sportsbooks often providing their own, unique outright betting options. Events like the NBA’s In-Season Tournament have presented another avenue for outright markets, including group winners, overall tournament winner, and tournament MVP.

Depending on the sportsbook you’re using, you might be able to wager on combinations like the Boston Celtics to win the NBA title and the Golden State Warriors to make the playoffs. Markets for selecting the teams to reach the World Series have also proven to be popular and can boast some hefty returns.

It can be lucrative to combine different outright bets. This can sometimes be done from the same league to craft your own bet or you could back multiple teams, such as the Detroit Pistons to make the playoffs, the Detroit Tigers to win their division, and the Detroit Lions to reach the Super Bowl.

Outright Betting Strategy

Like with any bet type, research is paramount when placing outright bets. Trying to predict future outcomes in sport is not a straight-forward process, and luck is always a factor. Make sure you are not fully relying on fortune being on your side, though, by being as informed as possible.

The Sports Reference sites are a great starting point for NBA, MLB, NFL, and NHL research. Listen to podcasts featuring experts on the respective sports and find some analysts that you enjoy reading to follow throughout the year. We will also recommend using statistics when deciding on your outright betting strategy – don’t be afraid to embrace new, advanced metrics that can help to predict future performance.

Make sure you are not fully relying on fortune being on your side, be as informed as possible.

As ever, it’s vital you compare the odds across different sportsbooks to ensure you are getting the best possible price, too. It might only seem like a small difference on the surface but getting the Warriors at +1000 rather than +950 is the kind of bonus that adds up over a few years of sports gambling.

Take an extensive look around at the different markets.

In MLB, could it be more valuable to take the New York Yankees to win 100+ games than backing the over on their win total?
In the NBA, are the Miami Heat a better option to finish in the top six or to win their division? More outright markets are released each year, giving plenty of options across the leading US sportsbooks.

We recommend keeping an eye on your outright bets throughout the season, even if you aren’t interested in a cash-out. See how the odds have moved since you placed your bet (if at all). Learn from your previous experiences and figure out what has worked out best for you.