Betting on Underdogs Explained: Underdogs Betting Guide and Tips Cover

Betting on Underdogs Explained: Underdogs Betting Guide and Tips

by Oddspedia Experts
Reading time 7 min
Betting on the underdog is a system that mainly focuses on the team with substantial odds on the market. The betting system is simpler, with no calculations involved, making it suitable for amateur and expert punters. This review will take you through the sports betting strategy and give you basic tips when betting on the Underdogs. Read this piece in its entirety for more information.
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What Are Underdog Bets?

Underdog wagers are moneyline bets where the punter places his bet on the team less likely to win the event. In every match, there must be the favourite and the underdog. The operator usually gives underdogs the best odds because they are less likely to win. This is a strategy to lure you into placing the underdog bet so that you may lose your wager. The good news is that you can use that to your advantage by applying the Underdog betting system.

One of the main advantages of this betting strategy is that it often guarantees bigger payouts compared to most betting systems.

The Attractiveness of Underdog Bets

One of the most alluring aspects of underdog bets is that they come with attractive odds. On the 1X2 Moneyline bet, the underdog will be the only option with high odds. Sometimes, the odds are so significant that you profit in the long run, even if you lose more often than you win.

When Do You Speak of An Underdog Bet

You only speak of an underdog bet when placing a Moneyline bet or a 1X2 bet. It is also a common term when you are speaking of handicap bets. After all, Handicap betting entails the bookie favouring the underdog to level the playing field. You should note that underdog betting does not apply when placing spread bets.

Where Can I Place Underdog Bets

You can place underdog bets on a suitable sportsbook. All bookies have the Moneyline betting option on nearly every sport. Hence, you can apply underdog betting systems whether you are betting on a team or an individual player, like in the case of tennis. This makes the betting system suitable for different players.

Essential Underdog Betting Strategy Basics - Tips and Tricks

Now that you know how underdog betting works, it is time to look at tips and tricks you can use with the sports betting strategy for the best outcome. Especially if you are after placing a profitable bet that guarantees high underdog wins. Make sure you go through the tips keenly.

Scan Markets for Profitable Underdog Bets - Do Bet Analysis

According to the Kelly formula, you must scan markets for profitable underdog bets. You must do extensive bet analysis on different markets to land such amazing markets. Note that the more profitable the underdog bets, the higher the underdog winning. As a result, go through different matches until you find the most valuable underdog bets.

Evaluate the Probability of An Outcome

After scanning markets for profitable underdog bets, you need to evaluate the profitability of an outcome. Do so by multiplying the odds provided by your wager. A good underdog bet will give you better earnings even with a small stake. Therefore, do not just opt for any underdog bet but the one with a profitable outcome.

Rank the Importance of The Game

So many factors contribute to the size of underdog betting odds. One of the most crucial aspects is the importance of the game. You need to rank the game's importance by asking yourself if it is a friendly game, a cup, a league, or a championship. The game's importance affects the underdog betting odds greatly. For instance, more often than not, less important matches are likely to have better underdog odds. After all, most of the teams are usually not that competitive.

Compare Betting Providers and Odds - Find the Highest Betting Odds for The Underdog Tip

One of the best tips to consider is to compare betting providers and odds. First, different betting providers provide players with distinct odds. While some betting providers have high odds, others only offer moderate ones. Besides that, make sure you compare the betting markets. For the best underdog odds, consider Game Outright, among other markets.

Create Several Betting Accounts with Different Bookmakers

Most bookies allow you to browse their odds for free. However, to place real money bets, you must have an account. Consider registering with different top bookmakers to avoid restrictions whenever you want to place a bet.

Use Betting Tools to Spot Potential Underdog Tips

Sometimes spotting potential underdog tips can pose a challenge, especially if you are a new bettor. That is why you should use the available betting tools to increase your chances of identifying suitable underdog bets. Betting tools also often minimise the time to bet on underdogs.

Betting on Underdogs in Minor Leagues

Don't just focus on major leagues like the English Premier Leagues and Bundesliga or WTA if you are betting on Underdogs. The best odds are usually available in minor leagues since the favourites are often better than underdogs. This makes it nearly impossible for underdogs to win the match, so they receive massive odds.

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Use Bonus Offers

Always ensure you use the available bonuses and promotions to place underdog bets. First, scrutinise the promos to make sure they come with reasonable terms. After that, go ahead and place your desired underdog bets. Using bonus offers will see you place more bets while spending less.

How To Claim Your Bonus

Everything You Need To Know In 5 Easy Steps!

How To Claim Your Bonus
Sign Up With A Bookmaker

Click the ‘Register' button to display the registration form

Create An Account

Create your account login details (username + Password) and enter your personal information and submit the information to create an account.

Choose A Bonus

Bookmakers will usually have multiple bonus offers, so pick the one that suits you the most. *Read the small print, especially the wagering requirements to ensure that you will be able to meet them!

Claim The Bonus

Claim your chosen bonus and provide a promo code if you have one. *if a deposit bonus you need to add funds to your account first to activate it

Use Your Bonus

Read the T&Cs and use the bonus to its full potential. *You will not be able to withdraw your bonus or bonus winnings before fulfilling the bonus requirements

Adjust Your Stake - Play Smaller Stakes, Minimise Risk

You must control your betting budget and minimise the risk of losing significant cash. Do so by simply playing with smaller stakes. Even if the wager is small, you will still make significant earnings with the best betting odds.

Use the Cash-Out Feature

Sometimes you may end up with moderate odds, but then the cash-out feature presents you with an opportunity for yielding better earnings. That is because the function allows you to withdraw a stake from an active bet without problems. Therefore, make sure you pay good attention to cash-out and use it accordingly.

Live Underdog Betting

Betting on the underdog is not just possible when placing pre-match bets. It is also available for live sports bettors, and with appropriate analysis, you are likely to end up with significant live odds. With that said, try gambling on live underdogs of different sports.

Unlike other sports gambling systems, betting on underdogs applies to nearly all sports. As a result, you can place underdog bets on popular sports and less popular games. Below are some of the most popular sports that allow underdog betting.

Football, Basketball, Ice Hockey, Tennis, American Football

You will be thrilled to find underdog betting options on sports such as basketball, ice hockey, American football, and tennis. Underdog bets are also available for football bettors. You will likely find the best underdog betting odds on various football events, especially those sourced from minor leagues like The Isles of Scilly Football League.

Boxing, Horse Racing etc

Boxing fans can also place underdog bets on an individual boxer. The same is the case with horse racing and moto racing. Consider placing Outrights bets to end up with the best underdog markets for this sport. You can also consider Moneyline bets if you want bets that will be settled soon.

Best Betting Markets for An Underdog Betting Strategy

It is crucial to note that the underdog betting strategy does not just apply to Moneyline and Outright bets. This gambling system also applies to other betting options, which will be described in this section. Therefore, go through the information below to determine which betting options to consider.

Underdog System Bets

First on the list of betting markets is the Underdog system bet. These are betting markets available on Moneyline bet or Win-Lose situations. The losing option is the equivalent version of Underdog system bets, and it often comes with significant odds. Applying the betting system on such a bet type will see you receive fantastic payouts in case of a profit.

2-Way Betting, Asian Handicap, Double Chance

Asian Handicap and Double Chance are other common markets that work well with the Underdog betting system. These betting options are commonly referred to as 2-Way bets. That is because the markets don't just rely on the common Win-Lose option. However, it is only important to consider spread bets for the underdog betting system if you are an expert punter.

1X2 Bets, Underdog Tie Bets

The most common types of markets that you can apply to the Underdog betting system are the 1X2 bets. This does not just narrow down on the losing team, but rather the underdog tie bets. The advantage of considering 1X2 betting markets is that they are easy to research. As a result, they can accommodate even amateur punters.

Underdog to Score First

If you are great at match analysis, consider Underdog markets like Score First. This betting option is more common when betting on football events. All you need to do is choose the team less likely to score first to get the best underdog markets. However, you will need to do adequate research on the betting markets.

Underdog Scores In-Game (more than 0.5 Goals)

Underdog scores in-game is one of the most common betting options with the Underdog betting strategy. However, the market is often applicable to expert punters who understand how to do research and have the best understanding of the sport in question. To get the best odds and make a profitable bet, consider Underdog scores more than 0.5 goals in-game.

Underdog Live Betting

If you are a live bettor, you should know you can use the Underdog betting system to place continuing bets. However, this form of gambling often has fluctuating odds, so you need to be extra keen on the live odds. Furthermore, you must be ready to bet fast while the odds remain favourable.

Pros vs Cons
Thumb Up
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  • Applicable in most sports
  • Comes with higher odds
  • Profitable even when your losses are more than your wins
  • Easy to apply
  • Can be used together with other betting systems
  • A win is not always guaranteed
  • Requires patience
  • Extensive research is mandatory

Conclusion - Are Bets on The Underdog Worth It or A Waste of Money

The information above shows that the Underdog betting system is one of the best ways to increase your chances of placing winning bets. The gambling strategy applies to different sports and a wide range of markets. This review has included tips and tricks to consider when applying underdog bets to give you an edge over the bookie. It has also mentioned the pros and cons of underdog betting, which you should know if you have gone through this reading in its entirety.

Underdog Betting as A Sports Betting Strategy FAQ

What Are Underdog Bets?

Underdog bets are betting options that allow you to gamble on the team less likely to win an event. It is most common in various sports, including football, tennis, and betting markets.

🏆 Does Betting on The Underdog Make Sense?

Yes, betting on the underdog makes sense whether you are an expert gambler or an amateur bettor. The betting system allows you to focus on the team or individual less likely to win an event, thus benefiting from high odds.

💶 How Do I Calculate the Probability of A Good Underdog Bet?

To determine the profitability of a good underdog bet, you need to calculate the amount you will make if you win the bet, considering the chances of winning the matchup. After that, calculate the loss you will likely make within a specific number of iterations. If how much you are likely to win is more than how much you are likely to lose, then the underdog bet has high profitability.

💳 At What Odds Is an Outsider Bet Worth It?

The outsider bet is worthwhile if it is likely to return a significant earning even after a couple of losses. In most cases, this is when the outsider bets have high odds on the underdog, maybe 10.00 and beyond.

🤔 What Are the Best Betting Markets for Underdog Bets?

Some of the best betting markets for Underdogs include Double Chance, Draw No Bet, and, most importantly, Asian Handicap bets. You can also find other fantastic markets after extensive research.

Can an Underdog Betting Strategy Be Profitable in The Long Run?

Yes, an underdog betting strategy can be profitable in the long run. The main aim of the underdog betting strategy is to ensure you end up making a profit even after a losing streak.

🏆 How Much Should I Stake on Underdog Bets?

You should stake as little as possible when placing underdog bets on any particular match. That is to avoid making significant losses that may be impossible to recap.
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This article was written by our team of betting experts, any contributing references are noted below.
Last updated 22/02/2024
  1. Wikipedia contributors. (2022, February 11). Underdog. Wikipedia.
  2. B. (2021, December 7). How to Master Underdog Betting. BetMGM.
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