Sometimes they do, and sometimes they don't. So you might ask yourself if it's just coincidence or not. Realistically speaking, I think it makes much more sense to take into consideration the current level of performance and quality of the team in question. Maybe historically speaking, it used to be a team which lacked investments, but for some reason in the present time there are heavy investments going into it, so there are superior players, coach and support team involved on the equation.

If you read the statistics and history, it will still tell you the team doesn't have great chances to succeed, but it totally ignores the present time, which is the most important aspect to pay attention to when placing bets.