Understanding When to Bet on the Underdog

Here at Galera Bet, we offer betting markets on a huge range of sports and events taking place across the world. From the top football leagues to the least known minor leagues in far off lands, we try to offer as many betting markets as we possibly can so that you can bet in exactly the way you want.

Many people, especially newcomers, will understandably choose to back the favourites each time. However, on occasion there is value to be found in betting on the underdogs. Here we will explore the advantages and disadvantages of each so that you can develop the right strategy for you.

Benefits of Betting on Underdogs

In the dynamic world of sports betting, the star quality of the favourite often overshadows the potential hidden in the underdogs. However, it is a mistake to simply dismiss the underdogs. With a combination of careful research and the right betting markets, the benefits of betting on the underdogs quickly becomes apparent.

Bigger Potential Returns

The odds are always the focal point when betting, and underdogs, by nature, come with less favourable odds. This, however, is a double-edged sword. While the risk is undeniable, the potential returns can be significantly higher compared to betting on the favourites. Upsets in sports can result in huge payouts for those who back the underdogs. When Leicester City won the Premier League in 2015-16, some bookmakers were offering odds of 5000/1 at the start of the season.

Greater Excitement

There's something exciting about cheering for the underdog. It's like rooting for the little guy, and when they actually pull off an upset, the feeling is unbeatable. It's not just about the money; it’s about being part of an unexpected victory.

Finding the Hidden Gems

Sometimes, the crowd and the bookmaker get it wrong, and the underdog is actually a hidden gem. These are the golden opportunities for savvy bettors. It’s about spotting those chances where the underdog is undervalued and seizing them.

Less Pressure, More Fun:

Betting on favourites comes with expectations – they’re supposed to win. But with underdogs, the pressure’s off. It’s more about taking a shot and seeing what happens, which can make the whole betting experience a lot more relaxed and fun.

So, while picking the underdog might seem like a long shot, there are some real upsides to it. So why not mix things up a bit? If you back the underdog, who knows, you might just hit the jackpot or have a great story to tell.

Disadvantages of Betting on Underdogs

While all of the above is certainly true, it is important to be aware of the disadvantages. This will enable you to make the most informed decisions possible and build the best betting strategy for you.

Higher Risk Factor

Betting on underdogs is inherently riskier. These teams or players are less favoured to win for a reason, so when you bet on them, you’re swimming against the tide. It's exciting, sure, but it’s important to remember that these bets often don't pay off.

Emotional Decisions

There's a real temptation to get swept up in the underdog story. We all love a good comeback tale, but letting your emotions guide your bets can lead to more losses. It's crucial to keep a level head and not let your heart overrule your brain.

Scarcity of Information

Underdogs don't always get the same attention as the favourites, which means there's often less information available about their form and potential. This lack of data can make it harder to place a well-informed bet, increasing the risk of a misstep.

Frequent Losses

Let's face it, betting on underdogs means you might face more losses. They're underdogs for a reason, and while the wins can be exhilarating and lucrative, they're not as common. This aspect is key to remember for effective bankroll management.

Betting on underdogs offers a unique thrill, but it’s not without its challenges. It’s about finding that balance between the excitement of the potential win and the realism of the inherent risks. Keep these factors in mind to maintain a smart, strategic approach to your betting.

Managing Risks and Optimizing Strategies

Ultimately, betting is about balancing excitement with smart decision-making. Here are some essential tips that will help to find this balance and ensure you always have an enjoyable betting experience.

  • Do Your Homework: Research is key. Take the time to dig into the stats, past performances, and any available insights about the underdog teams or players. A well-informed bet is always a smarter bet.
  • Know the Odds: Understanding the odds is crucial. It’s not just about who's likely to win, but also about finding value bets where the odds are better than the actual risk. This means sometimes the smart bet is on the underdog.
  • Set a Budget: Betting is fun, but it’s also important to be responsible. Set a budget for your betting activities and stick to it. Don’t chase losses, and never bet more than you can afford to lose.
  • Think Long-Term: Don’t expect instant wins. Betting on underdogs is more about the long game. Be patient and keep your focus on making smart, calculated bets over time, not just the quick thrill.
  • Diversify Your Bets: Don't put all your eggs in one basket. Spread your bets across different sports, events, and types of bets. This way, you reduce the risk of a bad day wiping out your bankroll.

By following these tips, you can enjoy the thrill of betting on underdogs while keeping your betting strategy smart and sustainable.

Find Your Risk and Reward Balance at Galera Bet

At Galera Bet, the underdog's corner is yours to claim. With a strategy in hand and a keen eye on the game, take on the odds and make your mark. It's your move, your bet, your story. Ready to take a shot with the underdogs? Join us, place your bets, and let's see where the game takes you. Simple, smart betting starts here.