Illinois Sports Betting: Guide to Futures Betting in IL

Q: Can I cash out a futures bet early?

Some sportsbooks, like Caesars Illinois , offer early cash-out options for futures bets. If your bet on the Bulls to win the NBA title gains value mid-season, you might cash out for a partial payout.

Futures Betting in Illinois: Bet Futures in IL

Futures betting offers a thrilling way to engage with your favorite teams and players over an entire season or event. Whether you're predicting the Chicago Bears' playoff chances or the Chicago Bulls' NBA Finals run, futures bets keep you invested long-term. This guide breaks down everything you need to know about futures betting in IL sports betting, from top sportsbooks to strategic tips.

What is a Futures Bet?

A futures bet is a wager that is placed on an event that will take place in the near or distant future. These types of bets can include a championship winner, player bets like season MVP or something as simple as a team to make the postseason of their respective sport, such as the Bears playoff chances.

Futures bets are popular because it allows you to follow a certain team or player throughout the entire season, and can have high payouts. Learn more about our complete futures betting guide below.

How to Place a Futures Bet in Illinois

Placing a futures bet in Illinois is straightforward, whether you’re at a retail sportsbook like Rivers Casino or using a mobile app. Follow these steps:

Choose a Sportsbook: Select a trusted platform like DraftKings, FanDuel, or BetMGM Illinois. Download their app or visit a retail location such as FanDuel Sportsbook at Par-A-Dice Casino.
Create an Account: Sign up by providing your name, date of birth, and last four digits of your Social Security Number for age and identity verification, as required by Illinois law.
Deposit Funds: Use payment methods like PayPal, credit cards, or Play+ to fund your account.
Navigate to Futures Markets: Find the “Futures” tab, typically under the sport of your choice (e.g., NFL, NBA). Browse options like the Chicago Bears to win the Super Bowl or the Bulls’ Eastern Conference odds.
Place Your Bet: Select your wager, enter your stake, and confirm. Futures bets lock in your funds until the outcome is decided, so plan your bankroll accordingly.
Illinois allows both online and in-person futures betting, with no restrictions on professional sports. However, betting on in-state college teams like Northwestern or Illinois is limited to retail sportsbooks only.

Popular Futures Bets in Illinois

Illinois’ passionate sports culture fuels a variety of futures bets. Here are some of the most popular markets:

NFL Futures: Bet on the Chicago Bears to win the NFC North, make the playoffs, or claim the Super Bowl. Player futures, like Caleb Williams for Offensive Rookie of the Year, are also widely available.
NBA Futures: The Chicago Bulls drive NBA futures interest, with bets on their championship odds, Eastern Conference title, or Zach LaVine’s scoring totals. Season win totals are another fan favorite.
MLB Futures: Chicago’s split baseball loyalties mean heavy action on the Cubs and White Sox. Wager on World Series odds, AL/NL pennants, or individual awards like the Cy Young.
NHL Futures: The Chicago Blackhawks’ Stanley Cup odds draw attention, alongside bets on Connor Bedard’s point totals or the Hart Trophy winner.
College Futures: At retail sportsbooks, bet on the Illinois Fighting Illini or Northwestern Wildcats to win the Big Ten or make the NCAA Tournament. Online betting on Illinois college teams is prohibited.

These markets are available year-round, with odds adjusting based on team performance and injuries.

Strategic Tips for Futures Betting in Illinois

Futures betting requires patience and strategy, as payouts aren’t immediate. Here are tips to maximize your success in Illinois:
Shop for the Best Odds: Odds vary across sportsbooks. For example, DraftKings might offer +1200 for the Bulls to win the East, while FanDuel IL lists +1100. Compare odds on apps to secure the best value.
Bet Early for Value: Place bets before the season starts or during offseasons to lock in higher odds. For instance, wagering on the Bears’ playoff chances in July often yields better returns than mid-season.
Monitor Injuries and Trades: A star player’s injury, like Patrick Kane leaving the Blackhawks, can shift futures odds dramatically. Stay updated via sports news or IL betting apps like ESPN BET.
Diversify Your Bets: Instead of betting solely on a championship, consider smaller futures like division winners or player props. This spreads risk and keeps you engaged.
Use Promotions Wisely: Sportsbooks frequently offer futures-specific boosts or bonus bets. Claim IL sportsbook promos to increase potential payouts.

Why Futures Betting is Popular in Illinois

Futures betting resonates with Illinois bettors for several reasons:

Long-Term Engagement: A bet on the Cubs to win the World Series keeps you invested from April to October, amplifying every game’s excitement.
High Reward Potential: Futures odds often offer significant payouts. A $10 bet on the Bears at +5000 to win the Super Bowl could return $500 if they pull off the upset.
Local Pride: Illinoisans love backing Chicago teams. Futures bets on the Bulls, Bears, or Blackhawks tap into the state’s deep sports loyalty.
Year-Round Action: With futures markets active even during offseasons, you can wager on next year’s outcomes anytime, keeping the betting thrill alive.

Illinois Futures Betting FAQ

A futures bet is a wager on an event that will be decided later, such as the Chicago Bears winning the Super Bowl or a player like Lonzo Ball earning NBA MVP. These bets typically span a season or tournament.

Yes, but there’s a catch. You can bet on futures for teams like the Fighting Illini or Northwestern in person at retail sportsbooks, such as DraftKings IL sportsbook at Wrigley Field. Online betting on Illinois college teams is prohibited.

Payouts depend on the odds when you place your bet. For example, a $100 bet on the Cubs at +2000 to win the World Series would return $2000 in profit plus your stake if they win. Odds are locked in at the time of your wager.

Early bets, before or at the season’s start, often offer better odds. For instance, wagering on the Blackhawks for the Stanley Cup in October might yield higher returns than waiting until February.

If a season or event is canceled, most sportsbooks void futures bets and refund wagers. Check the specific sportsbook’s rules, like those at BetMGM or Fanatics Sportsbook Illinois, for details.

Some sportsbooks, like Caesars Illinois, offer early cash-out options for futures bets. If your bet on the Bulls to win the NBA title gains value mid-season, you might cash out for a partial payout.

Author

Blake Weishaar

Blake Weishaar is a content strategist and fact-checker for IllinoisBet.com. He's been at the forefront of the gaming industry for close to a decade, including the rapid expansion of sports betting with the repeal of PASPA in 2018. You can rest assured that Blake will provide the most up-to-date and accurate information on Illinois' sports betting market.