Football Betting Myths
NFL’s Monday Night underdog is probably among the oldest sports betting myths prevalent today. The Monday Night Football Underdog myth in the NFL is probably as old as the NFL betting culture itself. During the 70’s and the 80’s the Monday Night underdog myth was extremely popular and constituted one of the most profitable football betting systems. The Monday Night Underdog myth is akin to an heirloom that has been handed down from one generation to the other. Traditionally, there is a belief among sports betting enthusiasts willingly bet on the underdog team in all Monday Night football games. The Monday Night underdog myth is more urban legend than cold, hard facts. However, even today a hard core NFL betting aficionado will affirm to the fact that a bet placed on Monday evening on the underdog team will be an absolute winner.
The Monday Night underdog myth probably sprang from the fact that most of these matches are played at home in familiar settings. Some betting systems actually advise bettors to side with the teams that are playing at home because the playing surface is more familiar to them. In keeping with this belief, it might make sense to actually follow the Monday Night Underdog myth. But research conducted over the past few years has proven otherwise. Several statistical studies done have actually proven that the Monday Night underdog myth is far from accurate. Like all other sports betting myths, the Monday Night football underdog myth is also a product of a couple of random successes than a solid betting strategy.
One of the main reasons why the Monday Night underdog myth falls flat is that because of the powerful reputation of the myth, several oddsmakers devise betting odds in a manner that takes into account the myth. Most home underdog teams are handicapped by at least a couple of points. This virtually discounts any benefit that might have been derived from this betting system. Statistical analysis has proven that the home underdog team follows the point spread 40-45% of times. In a majority of encounters, the percentage of the favorite team to win the game is significantly more. This analysis suitably busts the Monday Night underdog myth.
Past Monday Night Football Underdog Game Results
The success enjoyed by the Monday Night Underdog myth during the 70’s and the 80’s were probably more a reflection of a lucky betting cycle than anything else. Since the mid eighties the winning rate for this legend has been 67-57. This is hardly significant to constitute an absolute winner of a betting system. The record during the last 10 seasons is even worse with the ratio of wins to losses dropping to a dismal 20-28 and during the last 5 seasons standing at 10-14.
While bookmakers and football betting websites have tuned into the Monday Night underdog myth, the games have begun to sport appropriate handicaps and the profits have dwindled over the last 20 years or so, as is evidenced by the above statistics. The 70’s were a golden era for the Monday Night underdog from where this entire myth took root. The betting system enjoyed a success rate as enviable as 110-56 in its heyday. With the existing handicaps on the Monday Night football matches it has now become equally viable to bet on the visiting teams and the favorites.
Monday Night Football Betting Myth Conclusion
Even though it has proven beyond reasonable doubt that the Monday Night football myth is more a legend and has little substance to it, it would be difficult to dislodge this sports betting myth from the average sports bettor’s sensibility. Along with chicken wings, the Monday Night football myth has become firmly ensconced in the psyche of the sports betting enthusiast and even though today it is not the money spinning machine it was in the 70’s, many veterans continue to place their money on the underdog in a Monday Night football match.