In sports betting, a longshot refers to a team, player, or event that has a very low probability of winning, making the odds for this bet higher than most. Bettors who take longshots are attracted by the larger potential payout, as riskier bets usually offer higher rewards. However, the likelihood of winning these bets is considerably lower, which is why they are often considered a gamble.
Longshot Example
For example, in a football match, betting on an underdog team with a history of poor performance to win against a dominant team would be considered a longshot bet.