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?
Personally, I will go with the favorite, assuming all circumstances are true, the bettors doesn't know the fighter and obviously you didn't know the records, only the odds.
That's what a smart gambler usually does, for the favorite, maybe the returns are small, but it's worth the risk. Unless you are really a gambler who loves to bet on the underdog in every fight and you are extremely lucky.
It depends, for me, I will certainly take a brief peek of their history, records and recent 2 fights. I won't always go for the crowd favorite and champion because it's a trap the way I usually see it.
So no matter what the odds is, aside from luck, I will certainly go for the underdog if their stats are close enough and underdogs won't be long before they can be called champions. I always prefer probabilty rates rather than betting just because the payout is double or triple. But anyways, that's my opinion and I can't say that I'm always right and win the bets.
Nice observation since eventhough how famous the fighter is there always lapses especially if the game style of the favored fighter is bit off from the underdog one and also there are so many changes or need to be consider before taking decision on this and might we can see some great flip to the result since unexpected things happen on sports. No one can predict on which team will win but what most important thing here is we already have fun watching and speculating the fight or game result.