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    How many losses does a team need before bookmakers consider it an underdog?

    Player101
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    Player101 Newbie Gambler

    Player101

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    I often see people call a team an “underdog” just because they’re on a losing streak, but I’m not sure that’s how bookmakers think. I’m actually interested in knowing what formula bookmakers use to define it. Also, I’d like to know how they handle situations when two underdogs play against each other... like how do they calculate odds?
    (I believe this kind of question can be valuable for everyone, both beginners and experts)

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