Betting Every Underdog During Euro 2024: Can This Be Profitable?

Betting Every Underdog During Euro 2024: Can This Be Profitable?

The Sports Geek Team is here with another wild idea – what will happen if you bet on every Euro 2024 underdog? Common sense suggests this should be a slightly losing strategy, but we wanted to test this for ourselves.

The premise of this experiment is fairly simple. International soccer tournaments like the EUROs attract millions (if not billions) of casual fans who watch the games and bet on them.

With so many uneducated gamblers, most wagers will go on the favorites. This could skew the odds of the top soccer betting sites far enough to create value for the EURO 2024 underdogs.

Let’s see if that’s truly the case! We will bet on the weaker teams throughout the entire tournament to see what happens. If you prefer a more traditional approach, you should check our post with top EURO 2024 betting picks today.

This post will be focused on betting on all EURO 2024 underdogs instead! The results will be updated daily, while we explain the rules of this experiment below.

Updated results:

  • Bets: 18
  • Bets won: 2
  • Bets lost: 16
  • Units placed: 18
  • Units returned: 11.6
  • Balance: -$64


Betting Every EURO 2024 Underdog – Rules

There were many different ways to approach this idea, but we decided to keep it simple. Here’s how exactly we’re going to bet on all EURO 2024 underdogs.

1. Match and Market Selection: All Games with a Moneyline Underdog

We will place a wager on all EURO 2024 games (group stage and knockouts) that include an underdog. We consider any team with 33.3% of fewer to win the match as an underdog, which equals +200 in American odds, when you use a betting calculator.

If a side’s odds to win a game are equal or above this price in the moneyline market, we’re going for it and backing the team in question. If the game is close enough, so no price for a win is high enough, we will pass.

2. Odds Comparison

The next step would be to find the best odds. Line shopping and odds hunting are critical for grabbing that extra value on every winning wager.

However, the positive effect might be lost if you spend a ton of time browsing around for every game, so we decided to pick three of our favorite betting sites for this experiment: Bovada, BetUS, and BetWhale.

They all have lucrative bonuses and cover EURO 2024 with hundreds of markets per game, so they give us everything we need to test our underdog betting strategy.

3. Stakes

Once we find the best price for each wager that meets our initial criteria, we place our bets. Since this is a wild concept that could easily go wrong, we decided to bet $10 per wager.

We flirted with the idea of betting 100$ per game, but that’s way too high and could easily go wrong. The responsible approach would be to test the waters with reasonable wagers.

That’s exactly what we recommend to anyone who wants to follow us. Gamble responsibly and pick a number that won’t ruin you if this experiment goes wrong. Because make no mistake, it could easily go wrong!

4. Timing

Since our initial concept is based around value created through hype and uneducated bettors, it only makes sense to place each wager within 24 hours before each game starts.

In theory, that’s when the public interested will peak, leading to the highest odds possible for the EURO 2024 underdogs. That’s why our results and tables with wagers will be empty before June 14, when the tournament officially begins.

5. Results

We’re going to track the results live on this page, so expect updates on a daily basis. The plan is to track units placed, units returned, bets wagered, bets won, and the overall financial results in terms of profits/losses.


EURO 2024 Underdog Betting Wagers and Results

This is where we’ll add a summary of our results and a table with all of our wagers, so the entire experiment is transparent.

June 18 UPDATE: We started with seven losing bets, so it didn’t look good. However, that’s when we hit two upsets in one day, including a +600 win for Slovakia over Belgium, which turned it around completely for now.

Summary

  • Total bets placed: 18
  • Bets won: 2
  • Bets lost: 16
  • Total staked: $180
  • Total Returned: $116
  • Balance: -$64
BetOddsBookmakerResult
Scotland to beat Germany+1029BetUSLost
Hungary to beat Switzerland+280BetwhaleLost
Croatia to beat Spain+330BetUSLost
Albania to beat Italy+860BetwhaleLost
Poland to beat the Netherlands+565BetUSLost
Slovenia to beat Denmark+440BovadaLost
Serbia to beat England+580BetwhaleLost
Romania to beat Ukraine+360BetUSWon
Slovakia to beat Belgium+600BetwhaleWon
Austria to beat France +485BetUSLost
Georgia to beat Turkey+422BetUSLost
Czechia to beat Portugal+560BetwhaleLost
Albania to beat Croatia+660BetwhaleLost
Hungary to beat Germany+1054BetUSLost
Scotland to beat Switzerland+360BetwhaleLost
Slovenia to beat Serbia+414BetUSLost
Denmark to beat England+475BovadaLost
Italy to beat Spain+267BetUSLost
Slovakia to beat Ukraine+257BetUSPending
Poland to beat Austria+280BetUSPending
Netherlands to beat France+250BetUSPending
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About the Author
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Kyle Eve
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Kyle Eve is a seasoned pro of The Sports Geek. Since joining the team in 2012, Kyle, has covered some of the biggest sporting events in the world. From the Super Bowl and World Series to March Madness, the NBA Finals, Kentucky Derby, and many more, Kyle has provided reliable analysis for millions of readers. After dedicating himself to hockey and football in high school, Kyle placed his first sports bet on his 18th birthday. Since then, he has spent his entire adult life devoting himself to becoming the best sports bettor and casino gambler possible. Kyle is from Windsor, ON, Canada

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