I'm not sure if this had been asked before. This is just an example of some odds that I saw recently Fighter A (1.30) vs Fighter B (3.65). With this obviously, Fighter A is the people's champ and Fighter B is the underdog.
Regardless of who is bigger and undefeated record, let's say you have no idea who these fighters are because the names can't even be read like Ulshrkubyki vs Ykwehgyfvbh. If you only have $10 left in your sports betting account, would you go for the champ which you can only earn $3, or go for the underdog which if he got lucky can triple your money?
If we talk about the short distance and the tough need to get $ 3 then I will bet on the favorite.
But if we talk about the desire to win regularly, then the bet on the underdog looks more reasonable, since it is believed that due to the mood of the crowd, the bookmaker's margin when betting on the favorite is greater than the bookmaker's margin when betting on the underdog.