(also known as "Futures") - A wager made at an agreed price some time before the event is decided.
Betting on a sporting event a significant amount of time in advance. In the case of major horse races, high-profile International tours or football tournaments, it could be a year or more before they take place.
Betting on an event well in advance. In the case of big horse races or football tournaments, this could be a year or more before the event takes place.