Betting on the Underdog
Most online sports betting enthusiasts at some time or another have been in the situation where they considered backing the underdog, simply because they could get the best football odds this way. However, statistically speaking, one would actually win more if they went around blindly backing favourites, as opposed to blindly backing underdogs. In most cases, the underdogs don’t win, and that’s why they are priced at odds that make punters drool at the mouth. But is there any way that betting on the underdog can be beneficial?
Casinos with a sportsbook
12 operators run a sportsbook beside the casino lobby, with one account for both. Terms below are the ones they publish.
Listing checked
- 1
Cashed CasinoHas a sportsbook
100% up to NZ$1,000 + 200 free spins
- Deposits from NZ$20
- Wagering 35x cash / 40x spins
- Licence: Curacao
- Bitcoin withdrawals 3–5 minutes
Terms and operator
Published welcome terms: 100% up to NZ$1,000 + 200 free spins, wagering 35x cash / 40x spins, minimum deposit NZ$20
Licence on file: Curacao
Payments and games
Deposit methods: Visa, MasterCard, Neosurf, Skrill, Skrill 1-Tap, Neteller, Paysafecard, Apple Pay
Game studios: Evolution Gaming, NetEnt, Microgaming, Pragmatic Play, Play'n GO, Playtech, Quickspin, Red Tiger Gaming
- 2
N1Bet CasinoHas a sportsbook
Up to NZ$10,000 + 200 free spins over 4 deposits
- Deposits from NZ$30
- Wagering 50x
- Licence: Curacao
- Bitcoin withdrawals Instant
Terms and operator
Published welcome terms: Up to NZ$10,000 + 200 free spins over 4 deposits, wagering 50x, minimum deposit NZ$30
Licence on file: Curacao
Operator: Stable Tech N.V. (Curacao)
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Neteller, Paysafecard, Bank Transfer
Game studios: Evolution Gaming, NetEnt, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
- 3
National Casino
100% up to NZ$500 + 100 free spins
- Wagering 40x
- Licence: Canada: Kahnawake Gaming Commission
- Bitcoin withdrawals Instant
- Online since 2020
Terms and operator
Published welcome terms: 100% up to NZ$500 + 100 free spins, wagering 40x
Licence on file: Canada: Kahnawake Gaming Commission
Operator: TechSolutions Group N.V.
Payments and games
Deposit methods: Visa, MasterCard, POLi, Neosurf, Skrill, Neteller, Paysafecard, Apple Pay
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming
- 4
PowBet CasinoHas a sportsbook
100% up to NZ$1,000 + 200 free spins
- Deposits from NZ$20
- Wagering 35x
- Licence: Curacao
- Bitcoin withdrawals Instant
Terms and operator
Published welcome terms: 100% up to NZ$1,000 + 200 free spins, wagering 35x, minimum deposit NZ$20
Licence on file: Curacao
Payments and games
Deposit methods: Visa, MasterCard, Neosurf, Skrill, Skrill 1-Tap, Neteller, Paysafecard, Bank Transfer
Game studios: Evolution Gaming, NetEnt, Microgaming, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
- 5
Zotabet CasinoHas a sportsbook
100% up to NZ$2,000 + 300 free spins
- Licence: Curacao
- Bitcoin withdrawals 3–5 minutes
- Online since 2022
Terms and operator
Published welcome terms: 100% up to NZ$2,000 + 300 free spins
Licence on file: Curacao
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Neteller, Paysafecard, Bank Transfer
Game studios: Evolution Gaming, NetEnt, Pragmatic Play, Playtech, Yggdrasil Gaming, Quickspin, Red Tiger Gaming, Big Time Gaming
- 6
20bet CasinoHas a sportsbook
100% up to NZ$200 + 120 free spins
- Deposits from NZ$20
- Wagering 40x
- Licence: Curacao
- Bitcoin withdrawals Instant
Terms and operator
Published welcome terms: 100% up to NZ$200 + 120 free spins, wagering 40x, minimum deposit NZ$20
Licence on file: Curacao
Operator: TechSolutions Group N.V.
Payments and games
Deposit methods: Visa, MasterCard, Neosurf, Skrill, Neteller, Paysafecard, MuchBetter, Jeton
Game studios: Evolution Gaming, NetEnt, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
- 7
Casinoly CasinoHas a sportsbook
100% up to NZ$1,000 + 200 free spins
- Deposits from NZ$40
- Wagering 35x
- Licence: Curacao
- Bitcoin withdrawals 3–5 minutes
Terms and operator
Published welcome terms: 100% up to NZ$1,000 + 200 free spins, wagering 35x, minimum deposit NZ$40
Licence on file: Curacao
Payments and games
Deposit methods: Visa, MasterCard, PayID, Neosurf, Skrill 1-Tap, Skrill, Neteller, Paysafecard
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming
- 8
Joo Casino
Up to NZ$3,000 + 200 free spins over 3 deposits
- Deposits from NZ$30
- Wagering 50x
- Licence: Curacao
- Bitcoin withdrawals 3–5 minutes
Terms and operator
Published welcome terms: Up to NZ$3,000 + 200 free spins over 3 deposits, wagering 50x, minimum deposit NZ$30
Licence on file: Curacao
Operator: Stable Tech N.V. (per AskGamblers now; historically Dama N.V.)
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Neteller, Paysafecard, Google Pay
Game studios: Evolution Gaming, NetEnt, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
- 9
All Slots Casino
100% welcome package up to NZ$1,500
- Deposits from NZ$5
- Wagering 35x
- Licence: Malta Gaming Authority
- Skrill withdrawals under an hour
Terms and operator
Published welcome terms: 100% welcome package up to NZ$1,500, wagering 35x, minimum deposit NZ$5
Licence on file: Malta Gaming Authority
Operator: Baytree Interactive Ltd (69691), Guernsey
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Skrill 1-Tap, Neteller, Paysafecard
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Red Tiger Gaming, Big Time Gaming, ISoftBet
- 10
22bet CasinoHas a sportsbook
100% up to NZ$500
- Wagering 50x
- Licence: Canada: Kahnawake Gaming Commission
- Bitcoin withdrawals Instant
- Online since 2017
Terms and operator
Published welcome terms: 100% up to NZ$500, wagering 50x
Licence on file: Canada: Kahnawake Gaming Commission
Operator: TechSolutions Group N.V. / Marikit Holdings Ltd
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Skrill 1-Tap, Neteller, Paysafecard
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Play'n GO, Quickspin, Red Tiger Gaming
- 11
Betway Casino
100% up to NZ$500 on each of first 4 deposits
- Deposits from NZ$20
- Wagering 50x
- Licence: Malta Gaming Authority
- Bitcoin withdrawals Instant
Terms and operator
Published welcome terms: 100% up to NZ$500 on each of first 4 deposits, wagering 50x, minimum deposit NZ$20
Licence on file: Malta Gaming Authority
Payments and games
Deposit methods: Visa, Visa Electron, MasterCard, Maestro, POLi, Neosurf, Skrill, Skrill 1-Tap
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Play'n GO, Big Time Gaming, Hacksaw Gaming
- 12
BitStarz Casino
Welcome package up to NZ$2,000 + 180 free spins
- Deposits from NZ$20
- Wagering 40x
- Licence: Curacao
- Bitcoin withdrawals Instant
Terms and operator
Published welcome terms: Welcome package up to NZ$2,000 + 180 free spins, wagering 40x, minimum deposit NZ$20
Licence on file: Curacao
Payments and games
Deposit methods: Visa, Visa Credit, MasterCard, Maestro, Neosurf, Skrill, Neteller, Paysafecard
Game studios: Evolution Gaming, NetEnt, Microgaming, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
A reference list, not a recommendation, and only for readers aged 20 and over. The operators are offshore and unlicensed in New Zealand until the Department of Internal Affairs begins issuing licences on 1 December 2026. Terms are as published and change without notice. Gambling Helpline: 0800 654 655.
It’s a longstanding fact that favourites get picked by punters at the best sports betting brands, mainly because they are good, and sometimes because the oddsmakers deem them to be a stronger contender than the others, making them more appealing to everyone else. However, if you have a keen eye for odds, a good understanding of the sport in question and knowledge of specific teams, there is value in betting on the underdog when done in the right way.
Look for False Odds
Let’s start off by saying that in general and most of the time, backing the underdog when online or mobile sports betting is a bad idea. However, there are exceptions. One exception is where the odds for the particular event have been completely misrepresented. It often happens that sports betting sites release false odds that skew the theoretical probability of a team winning. When comparing the odds, it may seem like the team has a 10% or 15% chance of winning when in reality is more like 40% or 45%.
Consider the Arrogance Factor
With sports like rugby or football, top-rated teams usually have a sense of arrogance and invulnerability when playing against a side that has yet to win a game in any format at home or away. As so often happens in the FA Cup and other tournaments, the underdog scores a lucky goal in the first half. This completely throws off the favourite, forcing them into a state of shocked panic from which they never recover. Arrogance often leads to an underdog win and even if you got the best football odds on the favourite, you’d have done better backing the other team.
Playing at Home
While home ground advantage is taken into account when posting the odds, sometimes the bookmakers underestimate the passion of the team when playing at home. Even if the visiting team is the best rated in the league, the underdog, given the right spark and a good dollop of enthusiasm can pull off an upset. Mobile sports betting statistics show that most of the upsets come from games where the underdog is playing in front of a home crowed or at a stadium where they have loads of supporters.
Don’t Go for Huge Underdogs
One of the key mistakes most punters make when backing the underdog is to go for the Hail Mary bet. This is where the odds are so high that a winning bet would fantastically rewarding. Even when you are betting on the underdog, you have to consider the probability of certain events within the realm of impossibility.
What we are saying is, only bet on a situation where the underdog might just pull off a win and where the odds are equal to the risk involved. There is no point in risking an underdog bet at even the best sports betting brands for odds of 5.00, or even 10.00. That being said, any odds of 30.00 and above have to evaluated on the probability scale with all the information at hand.
