Most sports will always have a favourite and an underdog. The betting odds will also reflect the overall perception of the matchup. You can sometimes quickly identify an underdog, like when a squad with no wins is getting ready to play an undefeated champion. However, there are also times when the difference is less noticeable. Even though the overall concept is simple, there’s more to know and understand about this basic term in sports betting.

What is an Underdog in Sports Betting?

The underdog is simply the side in a bet that’s considered less likely to win.

  • The underdog can be a team. For example, if Barcelona were playing Sevilla FC in Spanish football, Sevilla would be the clear underdog here, as Barca is currently the better team.
  • An underdog can also be a person. For example, in tennis, Rafael Nadal is known to be the defending champion of Roland Garros, and any unknown player he is up against would be considered an underdog.

When you have trouble identifying the underdog, look at the odds. For example, have a look at the following line that you might be interested in betting on in the Premier League:

  • Chelsea 1.75
  • Tottenham Hotspur 4.00

From this example, betting on Hotspur can give you a much bigger payout than betting on Chelsea. This also means that Tottenham Hotspur is the underdog. If you place a $100 bet on Hotspur, you will win $400 in profit if the team wins. As Chelsea is the favourite, you will need to bet $100 to win a $175 profit.

Continue reading this article and learn everything you need to know about betting on the underdog in sports betting.

Should You Bet on the Underdog?

Should you place a bet on the favourite or the underdog? That’s the question many bettors ask before placing their bets, and it's an important one. Even though it might seem more appealing to bet on the better team, knowing the best time to back the underdog is vital in sports betting.

An underdog is the side of the bet that the bookie thinks has less chance of winning. However, the most important thing to remember is that as they’re less likely to win, the payout is significantly bigger than betting on the favourite.

So, should you bet on the underdog? The answer is a big yes, but you must ensure that the conditions are just right. Just like all the best strategies in sports betting, betting on the underdog can bring profits, but you need to make sure to do it in the right situation.

Furthermore, the concept of betting on the underdog applies to almost all major sports, including football, NFL, basketball, NHL and more. Betting on the underdog eventually comes down to a balance of two key ideas:

  • The underdog has less chance of winning
  • When the underdog does win, the payout is significantly bigger and more attractive.

When the bookie provides a payout that seems too great compared to the actual odds of the underdog, then it's an excellent bet to take. The most important thing to remember is that even though underdogs statistically lose more often, betting on them can still be profitable because of their high odds.

For example, you can place three separate bets on the underdog in three different matches and still end up winning a bet if you only win one of the bets. In contrast, you will never produce a profit if you decide to bet $100 on the favourites and only win one bet.

Benefits of Betting on the Underdog

Here are the reasons why you should bet on the underdog:

  • They offer bigger payouts compared to how much you bet.
  • There are more opportunities for favourable odds.
  • You can win more money even if you lose more bets than you win.

Drawbacks of Betting on the Underdog

Below are some of the downsides of betting on the underdog:

  • You’ll be losing more bets than you win.
  • It can be less exciting as betting on favourites is more enjoyable.
  • You’ll need to do more research and monitoring to be successful.

The Basics of Underdog Odds

The underdog is always the team or player that offers the biggest and most attractive odds. If you win a bet on an underdog, you’ll always win more money compared to betting the same amount on a favourite.

An underdog doesn’t always mean that their chance of winning is extremely unlikely, only that it's considered less likely than the alternative. There may be slight underdogs where you can find tiny differences in odds between the two sides. And there are also huge differences, where one team has a significantly higher chance of winning.

The bigger the underdog, the more potential payout it offers if you win. The basic function of the odds is to make up the gap between the favourite and the underdog. However, there’s more to it than that. An important thing to remember is that the bookie controls the odds and they focus on making money.

Bookies do this by balancing the action for both sides of the bets. In other words, they try to set odds that attract bettors to bet on both sides equally. As the bookie charges a commission, equal action on both sides of a bet guarantees a profit for the sportsbook, regardless of the outcome.

This is the reason sportsbooks adjust the betting lines. As if too many bettors bet on the favourite, the bookie can make the underdog’s odds more attractive.

Tips and Strategies for Betting on the Underdog

You can profitably bet on the underdog in any sport in many ways. Following these tips and strategies are the best ways to get started:

Remain Patient and Wait for the Odds to Move

When betting on the underdog, it is important to know that the betting odds change as the match draws closer and more people place their bets. Even if you think betting on the underdog is the way to go, you might want to wait to see if their odds improve even further, especially if the game isn’t starting anytime soon.

This especially applies to underdogs facing a highly fancied favourite, as the public loves to bet on the favourite. Don’t rush and place a bet on the underdog as soon as the odds come out. Instead, wait to make sure you get the best odds.

Don’t Believe the Hype Easily

It's easy for underdogs to slip by and get past your radar. With how sports media work nowadays, people tend to pay attention to the bigger names and teams. When you notice the media overhype a team or player, try checking out their opponent’s odds. There might be a chance that the underdog will be offered a reasonable price.

Do Research

Never forget the basics, regardless of which team or player you’re betting on. Many factors influence an underdog’s winning chance. The more research you do, the better decisions you’ll make.

Find out the history between the teams, key players and other less obvious factors like weather, stadium, travel schedules and others.

Conclusion - Teaching an Old Dog New Tricks

Betting on the underdog doesn’t always mean it's a smart option for beginner sports bettors. Even experienced bettors prefer to focus on simpler bets, like money line betting on the favourite.

However, the more you understand sports betting, the more value you’ll eventually find when betting on the underdog. Remember that the underdog is the side of the bet that offers the bigger payouts. Underdogs are less likely to win the match but result in a higher payout.

The value of betting on an underdog is when you think the public is getting too excited for a favourite. This means that the odds on the underdog will likely go up, which makes them more valuable. In the end, there’s a reason why bettors don’t get excited for an underdog as they are less likely to win the game. You should ask yourself: Is the “dog” really that unlikely to win the match? The answer is usually a no when the public is heavily leaning towards the favourite.

Money lines are an excellent choice for betting an underdog if you would rather take simple bets while receiving potentially big payouts. This betting option relatively offers bigger payouts and you don’t need to win every underdog bet you place to be profitable.

The bottom line is that the next time you look at the latest betting odds, check out the teams they’re up against instead of looking at the favourites. When meeting the right conditions, it can pay off big time.