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Do you trust the underdog? Sometimes, the betting odds do. But should you trust the betting odds? Of course, it’s easy to get excited at good-looking odds – who wouldn’t want to win more money?
There’s nothing wrong with going for a big win. What’s wrong is going for a big win with the underdog without doing your research before.
Read on to find out more about betting on the underdog.
Understand the Underdog
Do you know what an underdog is? The underdog has lower odds of winning compared to their opponent. It’s as simple as that.
However, these odds don’t come from thin air. They’re based on an endless list of factors, some we’ll discuss below.
But everyone loves an underdog, and they can make good bets (if you pick the right one).
Analyse Recent Performances
Analysing is where it can get boring unless you love the sport. There’s always so much happening with recent performances that sway the betting odds. Game results, player injuries and penalties, location of the match – everything matters.
Watch a game if you can – however you prefer: with VR or without it, whatever puts you in the state of mind to be objective. Getting familiar with their game.
Even if a team or athlete has a long history of being the underdog, they could be having a recent spell of good results that’s making them look better. Have they been scoring more recently? Did they make an incredible January signing?
Check the Betting Market Trends
Just as you will have assess what platforms are best for your betting preferences by looking at how operators are ranked here, for instance, you will want to put in your research to understand the wider betting market trends.
The betting markets are complicated – there’s no two ways about it. Unless you’re used to gaming, it can seem like a lot of numbers, a lot of odds, and definitely a lot of games.
If you notice the odds for an underdog improving closer to the game, it might mean bettors or insiders see value in betting on them. Or it could mean they’ve been performing well recently. The public will have a big impact on them. If the public is heavily favouring the favourite, it might put the odds in favour of the underdog.
Evaluate External Factors
External factors have a massive impact and will work in the underdog’s favour. Using football as an example and the Champions League. On paper, Real Sociedad is the underdog to PSG (tonight’s game). But, if Mbappe and Kurzawa are injured (two key PSG players), the underdog becomes not so underdog. Consider the home advantage or even off-field events affecting the players’ performance.
There’s more than that to think about – it helps to know the sport you’re betting on rather than looking at the good odds.
Assess the Risk vs. Reward
The bit that nobody wants to do. So many players will put money down blindly because they see the potential reward rather than the potential risk. Just look at how much money Drake has been putting on some bets. Well, he does have money to burn, but that’s beside the point.
There’s no denying that betting on underdogs is riskier than betting on favourites – it’s the potential rewards that can be enticing. You need to ask yourself – “how much can you potentially win, and how likely are they to win.” And don’t say yes and yes to both without doing your research. Or, more importantly, don’t put money down if you’re not confident.
Betting on underdogs is exciting. Well, or it could make you cry, but that depends on what underdog you’re betting on. But remember, you can’t just go in blindly because the odds look good. They’re the underdog for a reason – they’ll probably make you cry with results more than they do smile. The best thing to do is find a balance – pick the underdog with good odds that actually seems like it’ll win.
