The gaming industry has many different levels and various routes one can take to try to make some gains, whether they are financial gains or just beating the opponent.
Whether you’re a newbie or a long-time pundit, it’s good to familiarise yourself with the ins and outs of the industry. Some routes will ensure a win, others are riskier, and it’s down to you to decide how much you’re willing to risk.
Betting on the underdog can be both rewarding and incredibly technical. To take on the challenge, one needs to know how the gambling world works, money lines and handicapping. This niche category requires one to research all parties involved and study their movements to determine when one party might overtake the other.
For any rookies out there, you’ll need to start with the basics so we’ve summarised the most important pieces of information to help you understand this type of betting and whether or not you should be investing your money in the underdog industry.
What is underdog betting?
An underdog is a team or member of a team expected to lose or underperform in an event. Bettors use their money to bet on the underdog on the money line or spread available for that particular match or tournament. Money line betting is a riskier business but can be far more rewarding than a spread bet which would require the underdog to lose by a set number of points if they didn’t officially win—lowering your chances of receiving a profit.
There is always an expected winner and an expected loser. In almost every sports game or competition, the skills are never matched. There’s always someone better than another person in some or other way. Gamblers who watch the teams closely can figure out who might unexpectedly win the next game and bet on the team, earning them a profit due to everyone else’s doubt.
This complicated concept is an important one to understand as it has the potential to earn you quite a significant profit if you play your cards right.
How do I know who the underdog is?
The underdog team is always listed on spread and money line bettings with a (+) in front of the number. If you pay any attention to your sport of choice, it’s not difficult to figure out who is expected to win, therefore establishing the expected loser. Get it?
Should you bet on underdogs?
There is no simple answer to a question like this. That is why bookmakers are so successful in the industry. Everything is a risk, and sooner or later, someone’s luck will run out, or you’ll come across someone utterly clueless about where they’re spending their money.
Underdogs are known for losing, but they always lose less money than bettors when betting on a winning team who ends up losing.
To put it simply, favourites tend to lose bettors more money when unsuccessful than if they were to bet their money on an underdog. So the risk is marginally lower.
We’re not suggesting you place all your bets on an underdog team, but it is good to keep an eye on any teams that might catch their lucky break at the next game due to an injury on the opposing team, winning streak or sudden improvement.
Afterall the underdog has to win at some point unless they’re really terrible, after a few losing bets, this won’t be difficult to assess. In this case, move on, fast!
For the newcomers
Always do your research before betting. Don’t go around placing bets on any and every underdog team. You’ll end up losing a lot of money as you’ve misunderstood the practice of betting on the underdog. The whole point is to watch the underestimated teams and wait for them to catch a break and then place your bet. A successful bettor is someone who spends time doing their research and watching for the perfect moment.
So if you’re looking for a new route to take, why not try the secret society of underdog betting, join the club, champion the underdog to win. This lesser-known category of betting is often overlooked.
The underdog is typically and can prove to be very profitable for anyone willing to spend the time doing their research.