Favourite and underdog

You recognise the favourite by the low odds. The more confident the bookmaker is about an outcome, the smaller the number. Odds of 1.30 point to a clear favourite. The underdog, by contrast, carries high odds, say 5.00 or more.

The reason is simple. The odds reflect the estimated probability. A strong suspicion of a win means little risk for the bookmaker and thus a small payout. An unlikely outcome, on the other hand, is rewarded more highly. Favourite and underdog are therefore not fixed properties, but always result from comparing the odds within a match.

Whether a team is the favourite depends on the opponent. A strong side can become the underdog against an even stronger opponent. So always look at the odds of both sides before you tip.

In a match with three possible outcomes, for example in football with home win, draw and away win, one side is usually clearly preferred. The draw often lies in between. In sports without a draw, such as tennis, there are only favourite and underdog.

How big the gap between the two is shows in the ratio of the odds. If favourite and underdog are close together, say 1.80 to 2.00, the match is open. If the gap is wide, say 1.20 to 9.00, the outcome is considered fairly clear. Even so, it remains an assessment and not a fixed result.

The guide Understanding betting odds covers this in detail.

An example shows the difference. For a football match, the odds could look like this. Next to them is the payout on a stake of 10 euros.

The favourite brings little per euro, the underdog considerably more. In return, the underdog's win is considered less likely.

You can also see that the draw here is neither a clear favourite nor a clear underdog. With its odds, it lies in between. So from the three sets of odds you can read how the bookmaker assesses the whole match.

A tip on the favourite wins more often, but brings little per euro. A tip on the underdog comes in less often, but pays out more when it does. Both have their place. The important thing is that you read the odds as an assessment and not as a guarantee.

• Favourite: right more often, low payout.
• Underdog: right less often, higher payout.
• Surprises: possible at any time in sport.

Many punters combine the two. They back favourites when they want safety, and the odd underdog when they think a surprise is on. Low odds on their own, though, are no reason to bet blindly.

Even an extremely low value has its pitfalls. At odds of 1.10, a winner brings hardly anything, while a single lost tip eats up several wins. So always weigh up whether the low odds make sense for you.

Neither the favourite nor the underdog is the better choice. It depends on your assessment. The overview compares the two sides.

Even a clear favourite can lose, because in sport the day's form, injuries or chance decide. Don't rely on low odds alone, and never stake money you need to live on. At the betting shop, favourite and underdog sit side by side on the odds board, which makes comparing easy.

Use your provider's protection tools and keep an eye on your budget. Gambling is only permitted from the age of 18 (21 in Bremen) and can be addictive.

Remember that even a run of favourite wins can break one day. String together many low odds, for example in an accumulator, and you raise the risk that a single slip-up costs the lot. So stay level-headed even with the favourite.