In the last 25 bowl games leading up to today, underdogs have covered 19 of the 25 games (19-6 record). Might be 17 or 18 depending on which lines you look at, of course (i.e. TCU and Mich State). And the way UCF, Iowa and Kentucky are starting out, this string may continue.
Of those 19 underdogs covering, 14 have actually wont the game outright, meaning if you took the ML, you probably have a nice chunk of change right now this season. 8 of those ML wins were with +200 or more odds.
Just a word to the wise for next year, of course. Might be worth giving underdogs a try. Could play out different next year, but maybe a trend to build off of.
i will note that early in the bowl season that Favourites were absolute gold...
the key question, you alluded to, is whether there is some pattern we can play next year and beyond... if i'm not mistaken, i think the trend this year, faves early then dogs late is the OPPOSITE of history
one thing i notice is later games seem like intense in-season games. early games seem like exhibitions. some of it has to do with broadcast sophistication and some of it has to do with large fan bases in huge stadiums. but i think the biggest part is somehow the players and coaches........ i'd be curious as to others' opinions