I bet on my favorite team most of the time, but not always. I don't bet much when the opponent is stronger than my favorite team or equally strong where there is an equal chance of losing and winning. Because I value money more than the team. I bet when the opponent is relatively weak or the opponent has a chance of losing. Because I try to win money from that. However, no matter how much we analyze or be careful, we have to face losses. So it can be a mistake to always bet on the favorite team. Analyze and bet or ignore.
That's how most bettors bet on favorite team. For me, betting on favorite team doesn't mean that you have to allow your self lose your money intentionally. If there's a match between my team and another team and I see that the other team is definitely going to win my team, then I will have to bet against my team because I think they don't have the capacity to win the match but if it's a match that I know they are supposed to win, I will bet on them.