Betting on underdogs is a strategy many bettors consider when looking for value in their wagers. Underdogs often offer higher odds, which can lead to larger payouts, but they also come with increased risk. This article explores the pros and cons of betting on underdogs, helps bettors assess the potential rewards and risks, and provides strategies for making informed decisions.
Understanding Underdogs in Sports Betting
Definition of Underdogs
In sports betting, an underdog refers to a team or player expected to lose a match. They are typically given longer odds than their opponents, indicating that bookmakers believe they have a lower chance of winning.
- Example: In a game where Team A is favoured to win with odds of 1.50, while Team B is seen as an underdog with odds of 3.00, Team B is the underdog.
Why Bettors Consider Underdogs
Bettors may be drawn to underdogs for several reasons:
- Higher Odds: Underdogs present the opportunity for larger payouts due to their longer odds.
- Potential Value: If you believe the odds don’t accurately reflect the underdog’s chances, betting on them might be a worthwhile strategy.
- Excitement Factor: Supporting an underdog can be thrilling, bringing an additional layer of excitement to your betting experience.

Advantages of Betting on Underdogs
1. Greater Payout Potential
One of the most enticing reasons to bet on underdogs is the potential for a sizeable payday. When underdogs win, the returns can significantly outweigh the risks involved.
- High Return on Investment: A winning 10betona+200underdogwouldpayout10 bet on a +200 underdog would pay out 10betona+200underdogwouldpayout20 in profit, compared to a standard bet on a favorite needing a more considerable financial commitment for a similar return.
2. Mispriced Odds
Bookmakers occasionally misjudge the odds of an underdog, especially in games where public sentiment heavily favours one side.
- Public Bias: Bettors often flock to favourites, which can inflate their odds. This can create value opportunities for discerning bettors who recognize the underdog’s true chances.
3. Lower Stakes for Experience
Betting on underdogs can be an excellent way for beginners to gain experience in sports betting without risking large amounts of money.
- Small Stakes, Big Lessons: Starting with small bets on underdogs can help newcomers understand betting dynamics while minimizing losses.
Disadvantages of Betting on Underdogs
1. Higher Risk
The primary drawback of betting on underdogs is the inherent risk associated with wagering on teams or players that are less likely to win.
- Increased Loss Potential: Since underdogs win less frequently, bettors might experience more losses over time, which can be discouraging.
2. Emotional Influence
Bettors may be swayed by emotional attachments to underdog teams, impacting their judgment and decision-making.
- Biases: Supporting a favorite team can cloud rational thinking, leading to illogical bets based on loyalty rather than analysis.
3. Ineffective Strategy Without Analysis
Simply betting on underdogs isn’t a foolproof strategy. It requires analysis and understanding of odds and team dynamics.
- Need for Research: To effectively identify value in underdogs, bettors should analyze factors like form, injuries, and head-to-head records.
Strategies for Betting on Underdogs
1. Conduct Thorough Research
Successful betting on underdogs begins with diligent research. Factors to consider include:
- Team Form: Analyze recent performances and player statistics.
- Injury Reports: Monitor injuries that could affect team performance.
- Head-to-Head Matchups: Examine past matchups between the teams, as historical performance can provide insights.
2. Look for Value
Identifying value is crucial when betting on underdogs. Here are some tips:
- Comparative Odds Check: Compare odds across multiple bookmakers to find the best value.
- Implied Probability Analysis: Calculate the implied probability of the bet compared to your assessment of the team’s actual chances.
3. Manage Your Bankroll
Effective bankroll management is essential for long-term success in betting. This is especially true for betting on underdogs due to their unpredictable nature.
- Set a Budget: Determine a specific amount to wager on underdogs, ideally a small percentage of your overall bankroll.
- Utilize Unit Betting: Instead of betting fixed amounts, use a unit system where bets are a percentage of your bankroll. This approach allows for flexibility and minimizes risk.
Conclusion
Betting on underdogs can be a rewarding experience if approached with the right mindset and adequate research. While the higher potential payouts can be enticing, bettors should remain aware of the risks involved. By conducting thorough research, identifying value, and managing your bankroll wisely, betting on underdogs can become a viable strategy within your overall betting portfolio. Ultimately, the key to success lies in making informed decisions based on careful analysis rather than mere emotion or bias.