Should you bet on the underdog?

Should You Bet On The Underdog?

There are loads of betting strategies and approaches which bettors adopt in order to give them what feels like a competitive edge. Betting on the underdog is one such strategy that is commonly used in sports betting.  The term underdog is typically used to refer to a competitor, team or player that is thought to have little chance of winning a match or contest.

Risk vs. Reward

A successful bet made on a heavy underdog equates to a potentially large payout, this is one of the biggest appeals of placing a wager for the underdog to win. While the rewards are potentially lucrative, many seasoned bettors will say that the risk is just far too great for a low chance of winning, especially in terms of a long term betting strategy.

Make Your Own Path

When it comes to sports betting and using different strategies, everyone has their own unique approach to placing a wager. You’ll always find diametrically opposing viewpoints on whether a particular betting strategy works, such as whether it’s worth betting on an underdog compared to the favourite. Whichever approach you decide to proceed with, make sure it’s one you’re comfortable with, one that suits the level and type of betting action that you’re after. Through trial and error, you’ll be able to craft your own unique strategy when placing bets – one that works favourably for you.

If you’re grappling with the idea of whether or not you should place your next bet on the underdog, here are two reasons why it might be a good idea to take a chance on the underdog for a change.

  1. Underdogs are often overlooked

Sports by their nature are based on the principle of competition, so it makes sense that only the best, fastest and most successful teams receive the loyal adoration of their fans. The popularity of a team plays a significant role in the sports betting arena. Underdogs usually fly under the radar and don’t usually garner the attention and hype of the masses. Betting on the underdog becomes a more attractive wager, the more value they offer- you literally want the odds stacked against you. This is the one time you want to bet on a team that the public doesn’t have much faith in. The bigger the gap between the chances of the underdog winning, the bigger the potential payout as well as the risk, like Leicester City with soccer betting sites and Premier League bets.

  1. Favourites can be over-hyped

There are many reasons to bet on the favourite- after all, favourites are pegged to win for a reason. The impact of proven past performance, game strategy and popularity all determine how the general public chooses to bet. When the vast majority of the public heavily backs the favourite, book makers adjust the odds to make the favourite seem like a less attractive bet to minimise their risk. This type of bet is oversaturated and although a winning outcome is more likely than a bet on the underdog, the payout is considerably less when compared to a winning outcome for the underdog where the odds can mean exponential winnings.