Backing the underdog has always had an appeal to most sports enthusiasts. There’s a certain satisfaction that comes with backing the overlooked team in a competition only for them to rise above expectations and secure an unexpected victory. While it is thrilling backing underdogs, doing so successfully requires a careful and strategic approach. So, in this article, we will explore the best strategies to use when backing an underdog and how you can maximize your potential profit and minimize your risk.
Smart Betting Strategies When Backing the Underdog
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Use betting tools to spot potential underdog tips
Finding the right underdog match to back is crucial. Scanning the betting market for profitable underdog bets can be time-consuming and draining. As a result, opting to use betting tools can help you narrow down your search. These tools increase your chances of identifying suitable underdog bets. But even after this tool makes suggestions, go through the matches until you find the most valuable underdog to back.
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Evaluate the probability of an outcome
Once you can spot a potential underdog to back, it is by evaluating the probability of an outcome. You can easily do this calculation by multiplying the odds of the underdog winning by your wager. Typically, the underdog odds tend to have a lower probability of occurring than the overdog, which is why the reward for winning even on a small stake is higher. So, the higher the reward, the lower the probability, meaning the more risky the wager.
- Place smaller stakes to minimize risk
Also, it’s important that when you place a wager, you reduce your stake size. Backing the underdog is a type of high-risk wager, although the odds of the underdog winning are often high. So, even when you place a small stake to back the underdog, you can still make a significant earning. However, reducing your bet size is important to help control your betting budget and minimize losing a significant amount.
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Bet on underdogs in minor leagues
Don’t put all your focus on games in the major leagues like the Bundesliga or English Premier League. Explore options in the minor leagues as well. Some minor leagues to consider searching for underdogs to back:
- USL Championship – Football
- NBA G League – Basketball
- Triple-A Minor League – Baseball
- ECHL – Hockey
- Challenger Tour – Tennis
More often than not, less important matches are likely to have better underdog odds since most of the teams are usually not that competitive. The best odds are often in the minor leagues because the favorites are often better than the underdogs. As such, it makes it close to impossible for underdogs to win the match, hence why they have such massive odds.
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Use bonus offers
Always ensure that you take advantage of the bonuses and promotions available in the sportsbook you’re using. It’s very common to find sportsbooks offering new players a welcome bonus, often in the form of a deposit match bonus. Other platforms offer a no-deposit bonus, which allows users to sign up on the platform and not feel pressured to make a deposit. Essentially, these bonuses increase your bankroll, offering risk-free bets. This way you won’t be using real money on such a high-risk wager but using the bonus money, so it’s a win-win situation.
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Rank the importance of the game
There are a lot of factors that come into play when bookmakers fix the odds of an underdog. But the importance of the game is one of the most crucial factors that greatly influence the underdog betting odds. As such, when searching for the perfect game to wager on, ensure you rank them based on their importance. Ask yourself if the game is a cup, league, championship, or friendly game.
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Use the cash-out feature
Sometimes when you back underdogs, you may be presented with an early cash-out option. This option gives you the opportunity to make a withdrawal before the match ends, but it often means forgoing parts of your earnings. The best time to use the cash-out option is when you have a reasonable doubt that the underdog is going to lose the match.
