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Underdog Sportsbook Review

Coinciding with the launch of legal sports betting in North Carolina in March 2024, the Underdog brand launched its first online sportsbook and is already making big waves in the Tar Heel State. This sportsbook’s launch came with a tremendous amount of hype and, for the most part, it has lived up to expectations. In this Underdog Sportsbook review, I highlight each of the most important features that this platform has to offer. 

Competition among US online sportsbooks is extremely fierce. Underdog Sportsbook has not shied away from a challenge, however, and is working to become the next big name in the country’s online sports betting industry. It is taking a slow, methodical approach, offering a somewhat limited number of betting odds and just a few unique bonuses to players. 

Beginner bettors may love what Underdog Sportsbook has to offer. Unfortunately, it lacks the wagering variety and special promotions that are offered by several competing sportsbooks. Continue reading to learn about everything this new sports wagering operator currently has to offer. 

How To Place Bets

Underdog Sportsbook has an extremely modern, user-friendly design that makes placing bets simple. For now, it acts as an app-only. This means before any wagers can be made, users must first download the Underdog Sportsbook app via the Apple Store or Google Play Store. 

Once this is done, players can choose how they want their odds presented. There are two options – “Multiplier” and traditional American odds. Make your selection, and Underdog Sportsbook will reveal all of the available sports wagering options available. 

Toggling between the odds for different sports is done at the top of the app’s homepage. At the bottom, users can find the bet slip and account options. Select the wager you are interested in, and it will be added to your bet slip. Choose one or multiple wagers and enter your stake. From here, simply wait and hope for the best. 

Deposit Options

Underdog Sportsbook does not provide quite as many deposit options as some competing sports betting platforms. Only a few options are currently available. The available deposit options at Underdog Sportsbook are shown below. 

  • Debit Card
  • Credit Card
  • PayPal

Some users will be disappointed at the lack of deposit option variety. I found myself in that situation, and feel this sportsbook would be upgraded massively by improving its payment system. Fortunately, the options that are currently available are solid and all deposits are processed instantly and with zero fees. 

How To Withdraw Your Winnings

Withdrawing funds from Underdog Sportsbook is simple. As is often the case, there are fewer withdrawal options available than deposit ones, though. Members will find just two ways to collect their winnings

  • Direct Bank Transfer
  • PayPal

I was pleased to find Underdog Sportsbook allows PayPal to be used as a withdrawal option. PayPal withdrawals take between 1-3 days and come with zero fees. Direct bank transfer withdrawals can be a great option for some users, too, and processing times for this withdrawal option range from 1-4 days. 

Our Underdog Sportsbook Ratings

Underdog Sportsbook is still a very new platform. In order to truly determine where it stands in such a competitive industry, I chose to individually rank each of its most important features. I went through a detailed review and rating process on these features and relied on thousands of reviews from real users around the country to accurately compare it with rival sportsbooks.

It became almost immediately clear that this is a modern, safe, and fun sports betting platform. I ultimately gave Underdog Sportsbook an overall score of 8.0/10. It excels in several categories, yet clearly has some room to grow before it can be considered the next big thing in the US sports betting market.

Betting Markets

Underdog Sportsbook provides odds on a somewhat limited number of sports. Initially, it was criticized for offering odds on just the NFL and NBA. Company officials heard these complaints and quickly began providing odds on several other popular sports leagues.

I was happy to see that Underdog Fantasy quickly began offering odds on more sports due to popular demand. Unfortunately, there is no denying that it still lacks the odds variety of many competing sportsbooks. Members will not find odds on many popular sports such as boxing, MMA, or even soccer.

It’s worth keeping in mind that Underdog Sportsbook is still a very new sports betting platform. In a short amount of time, it managed to quickly increase its number of odds offerings. I expect this online sportsbook to expand its list of odds soon for other popular sports in the near future.

One particularly unique feature of Underdog Fantasy is its offer to alternate how users view their odds. Upon downloading the Underdog Fantasy app, users can choose between “Multiplier” odds, in which payout opportunities are more easily presented, or traditional American odds.

Bonuses & Promotions

Underdog Fantasy will not manage to blow anyone away with its variety of bonuses and promotions. It offers a fairly standard welcome bonus to all new members. This is a “Bet $5 and Get $100” offer. As that description might indicate, new users will receive $100 in bonus funds, simply for making a first wager on any sports market of $5 or more.

When it comes to bonus offers for existing players, things begin to drop off. There are a few standard bonuses including odds boosts and parlay bonuses. It still lacks the unique daily and weekly bonus offers that sportsbooks such as BetMGM and DraftKings Sportsbook provide.

This is to be expected when considering how new it is in the market. It takes time to develop a unique set of bonuses for players. In time, it is likely that Underdog Sportsbook will offer all of its players the special bonuses that are truly worth claiming.

Mobile App & Website

The design and user interface of Underdog Sportsbook are world-class. It is evident that a huge amount of time was spent to ensure this platform is modern, yet extremely easy to use. It looks great and works extremely well using both a desktop computer and a mobile device.

On the homepage, players can easily select which sports they would like to wager on. The process of making single wagers and parlays here is excellent. Each selection is added to the bet slip and entering your stake will immediately reveal your payout opportunity with a correct bet.

I spent a considerable amount of time testing various features of Underdog Sportsbook using the mobile app and desktop website. Placing bets, making payments, and contacting customer support was extremely simple. Everyone from first-time bettors to experienced sports gamblers will have no trouble navigating through this platform.

State Availability

Underdog Sportsbook is currently only available in North Carolina. That is tough to criticize, as it only recently decided to jump into the sports betting industry. It appears to be testing the waters in the Tar Heel State and will likely aim to break into new markets in the coming months and years.


Underdog Sportsbook took a risk by launching its first online sportsbook in early 2024. This brand had already established itself as one of the top DFS operators in the country. It used that experience to create an exciting online sportsbook that is already gaining a loyal user base in North Carolina.

I expected this betting platform to have a few issues. Being so new to the industry means it will lack some of the features that older, more established sportsbooks possess. When considering how new it is, I am still impressed with what Underdog Sportsbook has to offer. It has a fantastic design, great odds variety (albeit on a somewhat limited number of sports), and a solid welcome bonus.

I, like many other users, would prefer to see additional bonus offers become available for existing players. It would also be beneficial for Underdog Sportsbook to provide odds on less popular sports. That will likely come in time.


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Top 3 Reasons to Bet With Underdog Sportsbook

  1. $10 Deposit Minimum
  2. MUST Use Code BHREP To Access Offer
  3. Now Live in NC

Underdog Sportsbook Sportsbook Legal States List

Underdog Sportsbook FAQ

  • Is Underdog Sportsbook legit? Underdog Sportsbook is a legit, licensed online sportsbook currently operating in North Carolina. It provides great odds for players, as well as secure payments and a helpful customer support system.
  • Is there an Underdog Sportsbook mobile app? Underdog Sportsbook is currently only accessible using a mobile app. There is no desktop version of this online sports wagering platform.
  • What states is Underdog Sportsbook legal in? Underdog Sportsbook can only be used in North Carolina. Those located in other states may download the Underdog Sportsbook app and view the available odds, yet they cannot place any wagers.
  • Is Underdog Sportsbook the same as Underdog Fantasy? Underdog Sportsbook is an online sports betting platform currently only operating in North Carolina. Underdog Fantasy is a daily fantasy sports platform offering two types of contests and operating in more than 40 states around the country.
  • Who owns Underdog? Underdog was founded by Jeremy Levine in 2020. Today, Levine remains CEO of the company and is the majority owner.
  • Does Underdog Sportsbook have a cash-out feature? Underdog Sportsbook does not currently allow for early cash-outs.
  • Is there an Underdog Sportsbook sign-up bonus? All new members of Underdog Sportsbook are eligible to receive a “Bet $5 and Get $100” welcome bonus. This allows new users to receive $100 in bonus funds, simply by making a first wager of just $5 or more.