Reason #1 - Lopsided Betting Action
Bookmakers adjust lines to keep the betting as equal as possible. Why? Because if there's equal money, the bookmaker takes no risk; he wins no matter what. Bookmakers automatically collect a 10% commission (called "vigorish" or "juice"). All a bookmaker wants is even money on every game. That's your edge as a bettor! Since 80% or more of the public bets almost exclusively on favorites, the bookmakers and oddsmakers have no choice but to constantly slant the lines against the favorite to get some betting action on the underdog.
Reason #2 - Better Teams Are Overrated
On any given Sunday (as the saying goes) any team, no matter how pathetic, can finally put a flawless performance together and beat a far superior team. No matter how dominant a team appears, even an unbeaten team is capable of being upset in the right situation by what appears to be a far inferior team. The points spread is set to accommodate the perception - not the reality. If the public perception is that a team is unbeatable, the points rise dramatically. So this perception has created an even bigger edge for the underdog bettor.
Reason #3 - Underdog Psychology
And you wonder why pathetic underdogs regularly win games against dominant favorites? The underdog has been waiting all week for this game. The dog has a chip on his shoulder; he has something to prove. The underdog is sick of losing. He wants desperately to taste victory and rub it in the other teams face. Likewise, the big favorite is overconfident. How many times have you turned on SportsCenter only to find that one of the strongest teams on the board just lost to a "cupcake".
I'll take the underdog every time. Does betting underdogs work? Certainly not every time. But underdogs provide a slight edge to the sports handicapper. I've never met a winning gamber who did not make underdogs the cornerstone of his betting strategy.
Wager at your own risk!
JoVerto
Glossary of Common Betting Terms
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ATS - Acronym for Against The Spread
Bookmaker - A person who accepts bets on sporting events, either legally or illegally (a.k.a. "Your Man" or "Your Bookie").
Contrarian - A bettor who is always against the public or the masses of amateur bettors.
Cover - To beat the Spread.
Dime - Gambler's slang for a bet to win $1000, as in "I bet a dime on the Philadelphia Eagles. If they cover the spread, I win $1000"
Favorite - The team that is considered most likely to win by the professional oddsmakers or sportsbooks.
Hook - Gambler's slang for half a point - As in "I'm betting South Florida minus 5 and a hook". This means -5.5 points.
Moneyline - A straight money bet on the outcome of the games with no point spread involved.
Parlay - A bet involving two or more events. Every team in the group must win or the bettor loses the entire bet.
Push - A tie. If a game finishes exactly on the points spread (i.e., Dallas -5 wins by exactly 5)
Underdog - The team that is considered least likley to win by the professional oddsmakers or sportsbook.
Vigorish - A charge or commission on each losing bet extracted by the bookmaker. Also called "the juice".
Wise Guys - Term for smart professional gamblers. Also called "smart money".
