Gaming Favorites in Sports Explained

When wagering on sports outcomes, two sides exist – the favorite and the underdog. The former is the team or athlete that punters back to win. As for the latter, the expectations from everyone is that they will likely not win.

Before you start seeing betting on favorites as the safer choice, you should know it also comes with its own risks. This is why a good understanding of how this works is not an option but a necessity before you create an account with 1win-ca.com and begin wagering.

What’s a Favorite in Sports Betting?

In sports betting, the favorite is that player or team everyone expects to win. Bookmakers would consider some factors to determine favorites of a game. These include player stats, team performance, recent form, among others.

With the favorites, the odds are lower.  In essence, when you back them to win a contest, the return from your wager will not be as high as what someone who backs the underdogs will get if the latter somehow finds a way to come out on top.

For example, if Novak Djokovic is facing an unseeded player at Wimbledon, he will be the favorite because of his higher ranking and experience.

How Do I Know Who Is the Favorite?

Well, this is quite easy because sportsbooks clearly indicate it in the odds. Are you betting on basketball, football, tennis, or any other sport, the odds format will help you figure out who the favorite is.

On the 1Win betting site and most sportsbooks, favorites are marked with lower odds since they have a higher chance of winning. Here’s how to recognize them using odds:

1. American Odds: Favorites have negative (-) odds, while underdogs have positive (+) odds.
2. Decimal Odds: The favorite always has odds below 2.0, while the underdog has odds above 2.0.

For instance, Team A (favorite) might have 1.80 odds, while Team B (underdog) has 2.20 odds. A $100 bet on Team A would return $180 total ($80 profit), whereas the same bet on Team B would return $220 total ($120 profit).

Since favorites have a higher probability of winning, the payout is lower. This means you have to bet more to make a big profit compared to underdog bets.

Should You Bet on the Favorite?

It is a popular strategy to have bettors wager on the favorite. That’s because they have a higher chance of winning.

However, like any betting approach, it has both advantages and downsides. So, before you go ahead to place a bet on a favorite at 1Win bookmaker, here’s what you should consider:

Pros of Betting on Favorites

First, let’s consider some perks you can enjoy with this:

•  Higher winning chance: Since favorites are expected to win, betting on them gives you a better probability of success.
• More predictable outcomes: Favorites often have a stronger track record. This makes it easier to analyze stats and trends before betting.
• Great for Beginners: Are you new to betting? Opting for favorites can be a safer way to start. If you want to begin wagering on the bookmaker 1Win online, we recommend that you back the favorites.
• Works Well with Parlays: Betting on multiple favorites in a parlay bet can increase potential winnings while still maintaining a reasonable chance of success.

Downsides of Betting on Favorites

You ask if there are also drawbacks to this form of wagering? Yes, there are, including:

•  Lower payouts – what do you expect? Favorites are more likely to win, so the odds are lower. This means you need to bet more money to make a good profit.
• Upsets happen – Even the best players or teams lose unexpectedly, which can make favorite bets risky in certain situations.
• Less value in the long run – If you only bet on favorites, one or two big losses can quickly wipe out your winnings from smaller bets.

Final Notes

No doubt, betting on favorites can be a smart strategy. But that doesn’t mean it doesn’t come with its own risks. While favorites have a higher chance of winning, the payouts are lower, and upsets can happen.

To maximize your winnings, you should consider adopting a balanced approach. And that is combining favorites with other smart bets. We have seen this happen with many 1Win Canada bets.

Before we go: if you are in Canada and are looking for a reliable platform with great odds, you might want to check out the 1Win official website.