Betting Wisdom | #2 Never Bet On Public Underdogs
)NEVER BET ON PUBLIC UNDERDOGS
This is one of the many little rules that I have locked in to my personal betting approach and it both won and saved me a lot of money over the years. Whenever you see a situation where there is an almost unanimous agreement amongst the public that an underdog will not lose a match, be extremely careful and even consider betting the favorite. I do not have a theory why this is exactly the case but it is something that is said more often in the betting world and I have noticed how remarkably often this comes true. The public always loves the favorite regardless the odds because they fundamentally think binary, whenever this kind of thinking points out an underdog the bookmakers tend to come out on top. Local forums or sports contests on steemit are a good way to check what everyone thinks. This week just now it was remarkable how many people liked Newcastle to win. 4 out of 8 in this weeks EPL Betting Contest took Newcastle. In another contest on steemit only around 32 of 130 of the contestants saw a win for huddersfield which made this a perfect fit for this angle. If I would have more hours in a day I would love to make some work of this idea and track the results to get some real facts on the table and possibly make some money out of it. For now it's just an idea I go by as long as it keeps standing out.
all depends, in e-sport after reshuffles its common thing to bet on underdogs and with more and more esport betting become popular now you can bet millions on some matches so in common sport ye its bad idea, but we got many other fields of betting :)
What bookmaker has such high limits on esports?
I once looked into betting it, but quickly got discouraged when seeing that pinnacle only had tiny 50€-100€ limits.
pinnacle.com have up to 1 million on major tournaments in csgo and dota 2, also egb.com they both have big limits on big events, in dota 2 next season will be 11 majors and 11 minor tournaments in cs go around 4 majors, so its great opportunities :)
Interesting theory. I think that it's just the mirage of a big win that drives most people to bet on the underdog. Specifically for Newcastle's game this weekend, I think that many still thought of the Newcastle that had Alan Shearer playing for them. People can't let go history. In other games, I think that yes, as you said, the favorite should be bet on. Bookmakers know what they're doing.