Difference between revisions of "Underdog"
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− | In sportsbetting the '''underdog''' of a given event is the side of the market that is perceived as having | + | In sportsbetting the '''underdog''' of a given event is the side of the market that is perceived as having less chance of winning. Often abbreviated ''dog'', the underdog carries a positive [[point spread]] and yields a [[plus money]] return on the [[moneyline]]. The other side of the same market with a greater perceived chance of winning is known as the [[favorite]]. |
== Underdog moneyline == | == Underdog moneyline == | ||
− | + | As underdogs are perceived as having a lower chance of winning relative to the favorite their [[moneyline]] yields a larger return. [[American odds]] format displays underdog moneylines with positive numbers. A team with +200 odds of winning carries a 33.3% [[implied probability]] and yields a $200 profit on a $100 initial risk (for a total return of $300). | |
+ | |||
+ | In the example below the Baltimore Ravens are the underdog. They have +160 moneyline odds which carry a 38.5% implied probability. A $100 initial risk would yield a $160 profit for a total return of $260. | ||
+ | |||
+ | {| class="wikitable" style="text-align: center; margin: auto;" | ||
+ | |- style="background-color:#eaecf0;" | ||
+ | |colspan="2"|'''Team''' | ||
+ | |'''Spread''' | ||
+ | |'''Total''' | ||
+ | |'''Moneyline''' | ||
+ | |- | ||
+ | |[[File:Patriots.png|25px]] | ||
+ | |New England Patriots | ||
+ | | -3.5 (-110) | ||
+ | | Over 44.5 (-110) | ||
+ | | -180 | ||
+ | |- | ||
+ | |[[File:Ravens.png|25px]] | ||
+ | |Baltimore Ravens | ||
+ | | +3.5 (-110) | ||
+ | | Under 44.5 (-110) | ||
+ | |style="background-color:#E2FFD3"| +160 | ||
+ | |} | ||
== Underdog spread == | == Underdog spread == | ||
+ | In order to balance the perceived skill discrepancies between competing teams a point spread is used. The underdog being viewed as the weaker team is given a positive spread. The points they are given are applied to the final score in order to determine if the bet wins. A bet on an underdog's point spread will win if they either win outright or lose by a margin smaller than the spread. | ||
+ | Using the same example as before the Baltimore Ravens have a +3.5 point spread with -110 odds. A bet on the Ravens spread would win if they either win the game outright or lose by 1-3 points. Because the point spread is being used to balance the perceived ability of both teams the betting odds are normally equal around -110. This means a $110 risk would yield $100 profit for a total return of $210. | ||
− | == | + | {| class="wikitable" style="text-align: center; margin: auto;" |
+ | |- style="background-color:#eaecf0;" | ||
+ | |colspan="2"|'''Team''' | ||
+ | |'''Spread''' | ||
+ | |'''Total''' | ||
+ | |'''Moneyline''' | ||
+ | |- | ||
+ | |[[File:Patriots.png|25px]] | ||
+ | |New England Patriots | ||
+ | | -3.5 (-110) | ||
+ | | Over 44.5 (-110) | ||
+ | | -180 | ||
+ | |- | ||
+ | |[[File:Ravens.png|25px]] | ||
+ | |Baltimore Ravens | ||
+ | |style="background-color:#E2FFD3"| +3.5 (-110) | ||
+ | | Under 44.5 (-110) | ||
+ | | +160 | ||
+ | |} |
Revision as of 20:27, 1 January 2020
In sportsbetting the underdog of a given event is the side of the market that is perceived as having less chance of winning. Often abbreviated dog, the underdog carries a positive point spread and yields a plus money return on the moneyline. The other side of the same market with a greater perceived chance of winning is known as the favorite.
Underdog moneyline
As underdogs are perceived as having a lower chance of winning relative to the favorite their moneyline yields a larger return. American odds format displays underdog moneylines with positive numbers. A team with +200 odds of winning carries a 33.3% implied probability and yields a $200 profit on a $100 initial risk (for a total return of $300).
In the example below the Baltimore Ravens are the underdog. They have +160 moneyline odds which carry a 38.5% implied probability. A $100 initial risk would yield a $160 profit for a total return of $260.
Team | Spread | Total | Moneyline | |
New England Patriots | -3.5 (-110) | Over 44.5 (-110) | -180 | |
Baltimore Ravens | +3.5 (-110) | Under 44.5 (-110) | +160 |
Underdog spread
In order to balance the perceived skill discrepancies between competing teams a point spread is used. The underdog being viewed as the weaker team is given a positive spread. The points they are given are applied to the final score in order to determine if the bet wins. A bet on an underdog's point spread will win if they either win outright or lose by a margin smaller than the spread.
Using the same example as before the Baltimore Ravens have a +3.5 point spread with -110 odds. A bet on the Ravens spread would win if they either win the game outright or lose by 1-3 points. Because the point spread is being used to balance the perceived ability of both teams the betting odds are normally equal around -110. This means a $110 risk would yield $100 profit for a total return of $210.
Team | Spread | Total | Moneyline | |
New England Patriots | -3.5 (-110) | Over 44.5 (-110) | -180 | |
Baltimore Ravens | +3.5 (-110) | Under 44.5 (-110) | +160 |