MLB odds in terms of futures are odds on a team to win the World Series, National or American League and even individual divisions. You will also see MLB odds in terms of futures on total wins for each team. This latter option in baseball odds is only available before the season begins. The futures MLB odds on teams to win divisions, Leagues, and World Series will oftentimes continue throughout the season with MLB odds continually updated.
For gamblers that want to bet MLB odds, but don't want to go through the daily grind of betting games, futures betting offers daily action as their single bet will be relevant for the entire season. This is the case whether you are betting win totals in MLB odds or futures bets to win the World Series, etc.
For gamblers with a limited bankroll, futures betting in MLB odds offer that daily action for as little as $2 at some sportsbooks. This is a way to be able to have gambling action all year without having to risk much money in terms of baseball odds.
When you bet futures you have the unique challenge of trying to project how a team is going to do months in advance, which is an entirely different way to handicap than daily MLB odds. When you bet MLB odds futures keep in mind that your money is going to be tied up for weeks, and often months at a time. What kind of return are you going to get and is it even worth the effort? For example, if you are betting an extreme prohibitive favorite, such as 3/5 baseball odds, is that worth having your money tied up for several months? The goal should be to make money, but to also be in action with your futures MLB odds. Usually you want to look for double-digit returns so the payoff is nice if you happen to hit your wager.