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The most exciting thing about online sports betting is that you have various ways to pick winners. Some sports bettors find value in underdog betting, while others prefer placing their stakes on favorites. Alternately, many gamblers merely concentrate on value, notwithstanding whether it’s a favorite or underdog.
Successful underdog betting starts by developing the ability to handicap games and see the value. One way to do that is by first looking at the underdogs. But how do you do that? Firstly, be familiar with the two types of underdogs: home underdogs and road underdogs.
Home-court advantage makes players feel more at home and better rested. As a result, they’re more likely to perform up or even exceed expectations. If you examine upsets in different ballgames, you’ll notice that most of them are home underdogs. Note that not all home underdogs offer value, but when they do, underdog betting might be worth your while. The key is to do a fantastic job handicapping the matches to find value.
Meanwhile, road underdog betting is riskier and is advisable only if you’re a good handicapper. That’s because even high-profile teams tend to play better when they’re at home. You can learn underdog betting in detail below.
Favorite vs. Underdog Betting
When it comes to sports betting, differentiating the favorite and underdog is one of the first things to learn. It’s crucial to be able to tell the difference between the two since being the favorite or underdog dictates the odds. So what’s the difference between the favorite and underdog?
For some, it’s pretty much self-explanatory. But for the benefit of those who don’t know, the favorite is the side with a winning advantage. On the other hand, the underdog is the flank most likely to lose. You’ll encounter both of these in most sports bets available. You can wager on them in both live and future bets. It’s up to the bookies and oddsmakers to decide, considering various stuff like hot streaks, previous performances, and track records.
There are several ways to determine which side is the underdog. When you look at a money line wager, the underdog is the side with better-paying odds. But when it comes to spread, it’s the one with the plus sign before the line.
Underdog betting comes with many perks. Firstly, it offers bigger payouts compared to the amount you wager. You also have plenty of opportunities for favorable odds and betting lines. Ultimately, you can profit despite losing more wagers than you win.
How Do You Win an Underdog Bet?
Before learning how to win on underdog betting, it makes sense to understand the basics first. The underdog has enormous and most attractive odds. Winning an underdog bet means you get more payout than when you would wager the same amount on the favorite. But when is the best time to bet on the underdog?
Knowing when to bet on the underdog starts with understanding the odds and implied probability. Odds indicate your bet payout and make up the difference between the underdog and the favorite. It’s worth noting, however, that the bookies decide the odds, and they are generally business people.
Meanwhile, the implied probability is what the bookie thinks the winning chances of the underdog. Looking at both figures will help you decide whether underdog betting is your best bet. In the next section, you’ll find some proven underdog betting strategies that you can use or tailor to your needs.
Underdog Betting Strategies
Online sports betting gives you many ways to win. Underdog betting is just one of those, and despite being relatively risky, you stand a chance of profiting if you know what you’re doing. Below are some of the most effective underdog betting strategies to kickstart your journey to getting rich from sports betting.
Patience Is a Virtue
Even after getting all the calculating and handicapping tasks covered, you’d do well to wait and monitor the odds. Before deciding whether underdog betting is a smart move, make sure you’ve considered the changes in odds. You have to remember this, specifically when an underdog is up against a robust favorite. So instead of beating the rush, use it to your advantage.
Don’t Believe the Hype
Sports media and fanatics tend to sensationalize big names and winning teams. As a result, underdogs go unnoticed until a big match and possibly a more significant upset. So when you notice the press paying close attention to superstars, examine the odds of their opponents. Chances are, the underdog gets favorable odds. If your calculations are correct, underdog betting can do you good.
Stay Current With Injury News
Due to the physicality of sports, it’s not uncommon for players to suffer injuries. And this is something worth looking at if you’re considering underdog betting. When a favorite team’s superstar is injured, it places the underdog team in a better position. The coach will pick a bench player who will substitute for the hurt member. So it’s best to check the lineup of each team.
Pay Attention To Match Schedules
In both favorite and underdog betting, matchup schedules can be a factor in a team’s performance over time. Sometimes, a team will be playing games all week long. If they’re up against a team that only has one match during that week, it lowers the winning chances of the favorite. That’s not always the case tho. The key is to have good judgment.
Take Note of Game Venues
One of the most important things to consider in underdog betting is the venue. Some teams or players perform better during away matches, while others prefer playing in their hometowns. You also have to consider the day and night splits. Depending on which team they’re up against, these factors could affect the game outcome drastically.
Bet Live and Fast
Especially during live underdog betting, odds continue to fluctuate. Prices in live betting markets keep changing drastically, so it’s essential to decide beforehand the odds you wish to secure on your next bet. Place your wager as soon as the odds become available.
Research, Research, Research
Having outside knowledge of a team or sport can work to your advantage. It helps you make more informed bets rather than going for the favorite every single time. While there’s nothing wrong with that, betting on a favorite won’t make you a big winner. Underdog betting is worth the risk if you’re looking for more value or money.
Don’t Shy Away From Taking Risks
While underdog betting is risky, it also rewards handsomely. You have to be brave enough to take risks if you want to win big. Whatever the odds are, be confident with your choice and believe that things will work out in your favor. With accurate picks and sportsbooks, you can take home more than you expect.
The Bottom Line
Underdog betting involves a lot of time and patience before you see results. Systems won’t always work in your favor, especially when you’re just getting started. You also have to endure the risk of losing significant stakes.
The good news is that with some valuable information and statistics, you can determine the best thing to do before the match or during if you opt to bet live. Even better, it’s a high-risk, high-reward game when it comes to underdog betting.
With these underdog betting basics and tips, you should get a good look at how to bet on sports. If you feel confident and able enough, start placing some riskier bets.
