Underdogs Can Earn Big Money for Bookies
Underdogs – they’re consistent earners for bookies despite being costly at times.
As a sportsbook owner, you want to make sure you’re offering big underdogs on your betting board. Some bookies shy away from offering big underdogs, but here’s why that’s not a good idea.
Recreational bettors for the most part target favorites, but they also like to bet on big underdogs, as the allure of a big payout is often too tempting to pass up.
We’ve also found that casual bettors are more likely to bet on big underdogs when they’re losing. If a player is having a bad Sunday, they’re more prone to bet on a big dog to get back to even.
That’s great news as a bookie because these wagers are often based on emotions, not analysis.
Bookies Cash in on Big dogs
You never want to limit or restrict your earning potential as a bookie. Any experienced bookie will tell you that offering the biggest betting board is in the best interest of the bookie and players.
Here are some of the reasons why it is better to offer big underdogs:
● Low Winning Percentage: Big underdogs have low winning percentages and flat betting all big underdogs would result in huge losses, so bettors can’t blindly bet them.
● Targets the Casual Bettor: Recreational sports bettors are drawn in to betting on big dogs because of the potential to turn a small amount of money into a large sum. Turning $100 into $1000 on a 10/1 underdog is tempting to casual bettors looking to have some fun.
● Charge Higher Commissions: A bet on a big underdog is going to have a higher commission for the bookie than a point spread bet, as the juice scales based on the betting odds.
Why Do Sports Handicappers Recommend Betting dogs?
Some new bookies have asked why handicappers recommend betting underdogs.
While it’s true, sports handicappers recommend betting underdogs, they don’t recommend betting on big underdogs. So, you don’t need to be worried about offering big underdogs.
Handicappers recommend betting underdogs in the +100 to +150 range for the most part, but they don’t advise betting big underdogs because they know that they rarely win.
Trying to bet on big underdogs with the intent of winning consistently is not a good idea. Bookies love it when players regularly chase the payouts offered by big dogs with little chances of winning.
Best Sports for Big Underdogs
As a bookie with a pay per head service, the two best sports for big underdogs are the NFL and UFC.
You want your players betting on big NFL moneylines and big UFC underdogs. Why? Neither have a high winning percentage and you’ll be able to crush players that place these bets.
How often does a big underdog win SU in the NFL? They might cover the point spread, but big dogs don’t regularly win. The same is true in the UFC. It’s rare for big underdogs to cash.
Don’t listen to anyone telling you not to offer big underdogs in your sportsbook.