Core betting
Underdog
Also called dog, longshot
The side expected to lose, priced with positive odds or receiving points.
Underdogs pay more than even money because they win less than half the time. On the spread they receive points, so they can lose the game and still win the bet.
There is a persistent, mild market bias toward favourites and overs driven by casual money, which means underdog prices are on average slightly more generous. 'On average' is doing heavy lifting there — it is a small effect, not a system.
See also
- Favorite — The side expected to win, priced with negative odds or laying points.
- Moneyline — A bet on which side wins outright, with no spread involved.
- Point spread — A margin handicap that makes an uneven matchup close to a coin flip.