From ESPN.com:
Since 2004, if you blindly bet $100 on every favorite in the month of April, you would be down $26,000, an average of $3,250 per year. If you flipped that and blindly bet every ‘dog, here’s the year-by-year breakdown:
2004: $2,000
2005: $800
2006: $300
2007: $100
2008: $3,200
2009: $2,600
2010: $800
2011: $3,200
I’ll add it up for you: It’s a net of $13,000.
Through the first week of the season, dogs were 31-28 against favorites for a net profit of roughly 10 units.
Favorites made a comeback this past week, though, and while they aren’t ahead in units won, they have an overall 60-47 record (56 percent) against dogs.