Underdog Review 2026: Markets, Payouts, and App Features

The quick backstory on Underdog

Founded in New York back in 2020, Underdog first started out as a fantasy sports platform. Its early success came from games like Best Ball and Pick’em- giving sports fans across the states different ways to put their knowledge of NFL, NBA, and other major leagues to the test.

Fast-forward a few years and Underdog has expanded its offering pretty rapidly. The brand made its first leap into prediction markets at the back end of 2025, before launching its own federally regulated exchange in the summer.

After checking the site, here’s what you can do on Underdog right now:

• Prediction markets: Purchase and trade event contracts based on the outcomes of sporting events (with prices reflecting the market’s implied probabilities).
• Pick’em: Make fantasy sports selections based on whether players will finish above or below certain statistical projections.
• Best Ball: Draft a fantasy team and compete in contests where your highest-scoring eligible players are automatically selected each week.
• Other games: Underdog also offers products including Streaks, Rips and Crash.

What you can predict on Underdog

Explore Underdog sports markets

Discover Underdog combo entries

If you’re anything like me, before you even debate signing up to a prediction markets platform you’ll want the full picture on all the markets and options available. I’ve done my fair share of looking into these types of sites, and I can confidently say Underdog is up there with the best I’ve come across for variety. From straightforward Yes or No contracts to player statistics, point spreads and longer-term outcomes, there’s a fantastic mix of ways to put your predictions to the test.

How do prediction markets work on Underdog?

Before actually outlining some of the markets, for the benefit of anyone new to prediction sites, I’ll quickly explain how they work. The main thing to understand is that you’re purchasing contracts linked to real-world outcomes, with most based on a Yes or No question.

Let’s just say you’re following the NFL and come across a market asking whether the Kansas City Chiefs will win their next game. You can choose Yes if you think they’ll come out on top or No if you fancy the opposition. The price of each contract reflects what the market currently thinks is likely to happen.

Once the game finishes and the result is confirmed, your contracts are settled based on the outcome. That’s the general idea- although there’s also the option to sell eligible contracts early if you’d prefer not to wait for the final result.

I’ll cover fees and payouts in more detail a bit later.

Types of prediction markets available right now

One thing I was super pleased to see when looking through Underdog’s markets was the different ways you can make predictions on the same sporting event. You thankfully aren’t restricted to picking winners, and there’s a good selection of options for those who love to follow individual players, match statistics, or the bigger picture across an entire season.

Here’s what the main market types involve:

• Game and match winners: Probably the easiest place to start. You’re predicting which team or individual will come out on top, whether that’s the Kansas City Chiefs winning an NFL game or a tennis player progressing through a tournament.
• Point spreads: These involve a set handicap, usually expressed as a positive or negative number. For example, if the Lakers are listed at -5.5, they’d need to win by at least six points for that outcome to be correct.
• Totals (over/under): Rather than focusing on who wins, you’re predicting whether the combined score will finish above or below a particular figure. An NFL game with a total of 45.5 points is a good example here.
• Player performance markets: These focus on individual stats (such as an NFL quarterback recording over 250 passing yards or an NBA player finishing with 25 or more points). You’ll also find outcomes involving touchdowns, rebounds, assists and other player statistics.
• Futures: These look further ahead than individual games. Super Bowl winners, NBA champions or which team will finish top of a particular division are pretty good examples. Some contracts can remain open for weeks or months before the final outcome is known.

Underdog also has combo entries involving multiple eligible selections, which is a cool offering. The exact rules depend on the product, and combining outcomes means each relevant condition needs to be met for the entry to settle successfully.

Which sports does Underdog cover?

With a well-established background in fantasy sports, it probably comes as very little surprise that Underdog’s sports coverage is one of its biggest strengths. All the major US leagues are represented, alongside college sports and plenty of international competitions. There’s basically loads to choose from, especially great if you’re someone who follows more than one sport.

How to start trading on sports events at Underdog

If any of the markets I’ve just talked about are in your ballpark, and you’re wondering how to create an account, it’s actually really simple. You can get started through the official Underdog website or download its sports app, available for iOS and Android.

This is all you need to do:

1. Create your Underdog account: Use one of the links on this page to open the official website or download the app before clicking on the sign up button. Next you will need to enter your details, including your name, email address, date of birth.

2. Verify your identity and eligibility: Underdog needs to confirm that you’re old enough and located somewhere prediction market trading is permitted. Be prepared to provide your residential address and you may also need to upload a photo ID if additional verification is required.

3. Add funds to your account: Once your account is approved, visit the wallet or funding section and select an available payment method. Enter the amount you want to add and confirm the transaction.

4. Find a prediction market: Toggle over to the prediction markets area and choose a sport, league or upcoming event. Browse the listed contracts and select the outcome you want to make a prediction on, such as an NFL game winner or an NBA player’s points total.

5. Choose your contracts: Select Yes or No where applicable, check the current contract price and enter how many you’d like to purchase. Review the estimated total, including any trading fees. Remember that contract prices can change before your order is completed.

6. Review and confirm: Check the event, contract conditions and total purchase cost before submitting your order. Once it’s completed, you can monitor your position through your account.

Payouts and fees at Underdog

Before purchasing any contracts, I’d always highly recommend checking what you’re actually paying in fees and how much you could receive if your prediction is correct. It’s also good to get an idea of when payouts are credited to your account and how selling contracts early can affect your final return.

How are Underdog payouts calculated?

As I somewhat alluded to a bit earlier, the amount you receive from a successful prediction depends on how many contracts you’ve purchased and their settlement value. Once the exchange confirms the result, your payout is calculated and credited to your account.

To work out your actual return, you’ll need to subtract what you originally paid for the contracts (along with any applicable trading fees). These can tot up when purchasing multiple contracts, so it’s always good to know exactly what you’re paying before confirming a trade.

What trading fees does Underdog charge?

Underdog is transparent about the fact that prediction markets can involve trading fees on top of the advertised contract price, meaning the total cost of your order may be higher than you initially expect.

The exact charges depend on the exchange handling the contract, its price- and the number you’re purchasing.

Always check:

• Purchase fees: Any additional charge applied when buying contracts.
• Selling fees: Charges that may apply if you decide to sell your contracts before settlement.
• Total order cost: The full amount payable, including the contract purchase price and applicable fees.

Selling your Underdog contracts early

Another feature worth shining a light on is the option to sell eligible contracts before an event has finished. I can see this being super useful for longer-term predictions – especially when you’re following an outcome that won’t be decided for several weeks or months.

To emphasize again, the price you originally paid might not be what you’ll receive when selling. Contract values can rise or fall as trading activity changes, and you will need an available buyer to complete the transaction. Any applicable selling fees will also impact your final return.

Underdog app experience

Slow loading times, confusing menus and having to search around for basic features can be seriously frustrating. That’s why I always pay attention to the user experience when reviewing a platform. Well, give this Underdog a bone because there’s a lot I like here, including:

• Bold, eye-catching design: Dark navy backgrounds, bright yellow accents and colorful sports graphics give the app plenty of personality. It feels like a proper sports app rather than some kind of financial exchange.
• Clear player and event information: Player names, team logos, stats, and available selections are displayed in easy-to-read panels.
• Useful filtering options: Narrowing selections by sport and event makes browsing easier when there’s a packed schedule.
• Promotions and live events: Dedicated graphics for Primetime Jackpot, College Boostday and Witching Hour make upcoming offers easy to spot.

Although there’s lots of positives, Underdog is heavily geared towards mobile so users who prefer desktop might feel restricted. There’s also a lot of promo attention given to things like Rips, with large banners that can sometimes overshadow the prediction markets. I’d personally prefer a little less of that when browsing.

Enjoy Underdog’s mobile-optimized site

Make your sports picks at Underdog

Current Underdog bonuses and promos

In terms of promos and bonuses, the brand didn’t fully disappoint but there is scope for wider availability. Right now Underdog has quite a few offers for new and existing users, from welcome bonuses to special promotions tied to sporting events.

Underdog welcome bonus and promo codes

I did discover that Underdog regularly advertises welcome offers for new sign-ups, including a 50% first deposit match worth up to $1,000 in bonus funds. That’s a really top offer although it’s worth pointing out that these bonuses are generally restricted to Underdog’s fantasy products.

Unfortunately, I couldn’t confirm a dedicated welcome bonus for prediction market trading-which is a touch disappointing. Promos do change regularly though and you might sometimes need an Underdog promo code to qualify (these are usually displayed directly on the app’s homepage).

Boosts, Gimme Picks and special promotions

Underdog also runs several promotions for existing users. However, these too only apply to DFS. Some of the main ones include:

• Boosts: Special offers that increase the potential payout on eligible fantasy selections.
• Gimme Picks: Promotional selections with adjusted statistical targets, giving you a different way to build eligible fantasy entries.
• No Sweat Tokens: Eligible fantasy entries may qualify for promotional credits if they don’t finish successfully.
• Challenges: Complete specific activities within a set period to receive rewards, with the requirements outlined in the app.

Trading derivatives involves risk and may not be appropriate for all. For more information visit: https://www.nadex.com/rules and https://underdogfantasy.com/rules. For Crypto.com Predictions, the term “pick” refers to a product traded on CDNA. 

Deposits and withdrawals at Underdog

Supporting a wide variety of payment options is always helpful too, and the app gives users several ways to add funds to their accounts. These include Visa and Mastercard debit cards, alongside bank transfers through eligible US bank accounts.

As for withdrawals, you can request these directly through your account’s wallet, selecting your preferred available method and the amount you’d like to transfer.

Other things to be aware of re payments are:

• Verification: You may need to provide additional identification before your first withdrawal.
• Processing times: Bank transfers can take several business days, so don’t expect funds to arrive instantly.
• Withdrawal limits: Minimum withdrawal amounts and other restrictions may apply.
• Promotional funds: Bonus credits aren’t necessarily eligible for withdrawal.

Can you trust Underdog?

When it comes to prediction markets, I always want to know I’m dealing with a legitimate and trustworthy platform. Thankfully, Underdog has some pretty solid credentials here.

The brand launched its own federally regulated prediction exchange in 2026, operating under the oversight of the Commodity Futures Trading Commission (CFTC).

Underdog also carries out identity and location checks to make sure users meet its eligibility requirements, alongside security measures designed to protect account and payment information.

What support can you expect from Underdog?

If you need a helping hand, Underdog has a dedicated help center where you’ll find answers to plenty of common questions. There are guides covering everything from deposits and withdrawals to account verification, promotions and how the different games and prediction markets work.

For anything that needs a bit more attention, you can contact the support team directly through the app. This is helpful if you’ve got a question about a specific transaction or need help with a payment. I’d recommend checking the help center first though- as there’s a good amount of info available without having to wait for a response.

Don’t count this Underdog out

Underdog is a platform that’s only fairly recently transitioned into prediction markets but there’s already plenty to be impressed by- especially if you’re a big sports fan.

I think its fantasy sports background has worked majorly in its favor here. The brand clearly understands what sports fans want to follow, and that’s reflected in the mega variety of markets available. The lack of dedicated prediction promotions is the only real shame right now, but with its own exchange now established, it will be interesting to see how the platform will evolve.

If you want to put your sports knowledge to the test, follow the links or banners on this page to head straight to Underdog, find your favorite sports markets, and start making your own predictions today.

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