Best PlayStation 5 Betting Apps in 2025

When you back the underdog in a sports match or event, you have a low chance of winning and, as a result, bigger odds. This type of wager is known as a longshot — a high-risk, high-reward strategy that can pay off significantly if you spot the right opportunity. While it's not the safest approach, some smart punters are skilled at finding the longshots, analyzing their potential, and placing strategic bets for massive wins.

When you place a bet on a sports event, and it takes place as expected, whether in favor or against your prediction, the bet is said to have action or is considered active or valid. For example, if you place a wager on Liverpool to win an EPL match against Tottenham, your bet is said to have action as long as the match is played and ends as scheduled.

Futures betting (or outright betting, depending on the region) is a special type of market that allows you to wager on a certain league or tournament winner ahead of time. For example, it gives you an opportunity to stake on the English Premier League winner before August or the Super Bowl winner in September before the season starts. Futures betting is especially convenient if you plan on placing a wager on underdogs to win due to a clear list of favorites with low odds before the season starts.