Underlay
1 min read
A bad or unfavorable bet.
In the context of gambling, particularly in sports betting, the term "underlay" refers to a situation where the odds offered on a bet are considered to be less favorable than the true probability of the outcome occurring. Essentially, it means that the bettor is not getting a fair value for their wager.
For example, if a team has a 50% chance of winning a game, but the odds offered suggest a probability of only 40%, then that bet would be considered an underlay. Bettors typically want to avoid underlays because they represent a poor value proposition, making it less likely for them to achieve a profitable outcome over time.
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