Betting Against Favorite Teams

Betting Against Favorite Teams

You may have looked at the title and thought to yourself, who would anyone ever bet against a favorite? The favorite team does have the highest chances of winning, right? It would naturally be a safer option. But we all know how unpredictable sports can be, and underdog victories occur all the time. Just when it seems like the favorite to win has it in the bag, the underdog comes out of nowhere and snatches the victory. While this is rare, going against the tide can have its benefits when it comes to betting, read on to learn more.

Why Bet On Underdogs?

Hollywood loves a good underdog story, where the little guy takes on the big guns. And despite all the doubt and underestimation, they come out on top. But such instances don't just occur on the silver screen, they happen in real life too – and they're not as rare as you think. Betting on the underdog has its benefits. Sure, it's risky, but a successful wager could be very lucrative. And betting on a favorite to win is although safe, it rarely brings you a lot of profits due to small betting odds. Here's how you could go about betting against the favorite team.

1. Bet low

As you would have already noticed by now, underdogs usually have very high odds. While this indicates a lower probability of winning, it also means a very high-profit margin. You could win a lot of money on a minimal steak. One betting strategy you could follow would be to stake small amounts of money each time you bet, as in most cases, the winning from even a single successful underdog bet would be able to cover previous losses.

2. Bet late

The early bird catches the worm. Well, that saying isn't very relevant to underdog betting. While prices on the favorite-to-win tend to increase as the playoff draws closer, it's the reverse for betting on the underdog. It's best to make all underdog wagers as close to the commencement of the match as possible because that would be the time with the best odds and best prices.

3. Only bet when there's value

No matter who you're betting on, the favorite or the underdog, make sure the wager is worth it. You can do this by ensuring that the bet has value, which is when a wager is priced at less than what it's worth. If you find that the odds reflect an outcome that is not as likely to occur as they indicate, you have found a value betting situation. For an underdog bet, this would mean that the team has a much higher chance of winning compared to what their odds reflect. This would allow you to stake more money on the outcome, and hopefully, if things go your way, make a large profit.

4. Popularity ≠ Skill

One thing you need to remember while betting is that a team's popularity is not a testament to their skill. Take Manchester United and Ajax for example. They're both great teams, but out of the two United has a much larger fan base, which means that they would receive more bets.

Since bookmakers tend to follow public opinion, their odds would indicate that United has a much higher chance of winning, when in all reality, Ajax, the underdogs in this situation could just as likely win the match. The point is, don't let public opinion sway your choices.