Wagering on MLB underdogs early in the season is typically prudent. The market isn’t quite at equilibrium yet, so these plus-money assets are more likely to be mispriced.
But this season, that hasn’t been the case. In fact, far from it.
Underdogs are off to their worst-ever start to a season in recorded history. Our proprietary Action Labs data has tracked information since 2005.
Had a bettor wagered $100 on every underdog through the first 14 games of the season, he or she would be down about $2,400.