In sports betting, an outsider is typically a team or individual considered less likely to succeed in a competition, which often results in higher odds. These odds reflect the perception of the competitor’s chance of winning, and betting on an outsider can offer substantial returns if they perform unexpectedly well. Bettors may choose to wager on outsiders due to the potential for a high payout, especially if they have insights or knowledge that suggest the outsider may have a better chance than the odds indicate.
Outsider Example
For example, in a horse race, if a horse is listed with 20-to-1 odds, it means that it is an outsider, and a $10 bet would win $200 if the horse finishes first.