Dog

A dog is an abbreviation for underdog. Used to describe the side of a betting market that is perceived to have a lower chance of winning. The opposing side is known as the favorite. As underdogs are viewed to have a less favorable chance of victory winning bets return larger amounts relative to initial risk.

Example

In the example below the market views the Atlanta Falcons as the weaker team. They are dubbed the dog having +380 odds to win the game outright on the moneyline. This carries an implied probability of 20.8%. Atlanta also carries a +10 point spread which will win if they either win the game outright or lose by 9 or less points. A loss of exactly 10 points would be a push and spread bets are refunded.

Team		Spread	Total	Moneyline
	Atlanta Falcons	+10 (-110)	Over 49.0 (-110)	+380
	San Francisco 49ers	-10 (-110)	Under 49.0 (-110)	-475