Depends alot on the game, but teamwork counts alot for integrity of results and likelihood the team is practising together, etc. I got alot more faith in an underdog bet when I believe that team has underlying potential to keep improving and surprising in their results, alot of that revolves around the team spirit being healthy. The biggest mistake people make is counting results evenly when some games wont have the effort spent on them over others, some enemy teams or the map choice allows an easier result.
There are a lot of analysis that we need to know in order to win in Esports betting. Before you place a bet you need to know who's underdog and who's have upper hand. I often bet in dota 2 and I have high win rate because I always identifying the strength and the weaknesses of the team before I bet my money.
That is the right thing to do I guess. Knowing the limitations and the capabilities of a those team would be a better to do because this will be your guide on what team you are going to place your bet. Looking for match history could be helpful as well. And if you have some knowledge about the game then I am pretty sure that you are already aware who is in upper hand and who is the underdog.