What Is an Underdog in Sports Betting? Moneyline vs. Spread Explained

Every sporting event has a favorite and an underdog unless the odds are listed as even. The underdog is the team or player expected to lose. Because they are less likely to win, betting on an underdog typically offers a larger payout than betting on the favorite.

Find all of our articles on sports betting strategy tips & advice >>

What Is an Underdog in Sports Betting?

Moneyline Underdogs

On a moneyline, underdogs are identified by plus (+) odds. For example, if a team is +170, a $100 bet would win $170 if that team wins the game.

The bigger the plus number, the less likely the sportsbook believes that team is to win.

• +150: Moderate underdog with a reasonable chance to win.
• +400: Heavy underdog with a much lower chance of pulling off the upset.

Higher risk comes with a higher potential payout.

Point Spread Underdogs

Point spread betting focuses on the margin of victory instead of the outright winner.

The underdog receives points (or goals), giving them a handicap before the game starts. To win a spread bet, the underdog can either:

• Win the game outright, or
• Lose by fewer points than the spread.

For example, the Bengals closed as +4.5 dogs in a game.

• Moneyline (+170): Bengals had to win the game.
• Spread (+4.5): Bengals could win outright or lose by four points or fewer.

The Bengals lost by three points and failed to win the game, but they still covered the spread, making the spread bet the winning wager.

Moneyline vs. Spread: Which Is Better?

Choosing between the moneyline and the spread depends on how competitive you expect the game to be.

• Bet the moneyline if you believe the team has a legitimate chance to win outright.
• Bet the point spread if you think they’ll keep the game close, even if they lose.

Spread bets generally have lower payouts than moneyline bets because they offer a better chance of winning.

Bottom Line

An underdog is simply the team or player expected to lose. Betting the moneyline offers a larger payout if the underdog wins outright, while betting the spread lets you cash even if they lose by less than the posted line. Understanding the difference is one of the first steps toward making smarter sports bets.