Edit: So many people are misunderstanding the word, 'favorite' here. What I meant here is oddmaker's favorite. Suppose, a competition is held between two teams 'A' and 'B' with odds 1.2 for former and 2.0 for latter, then former is favorite, and bettor can bet on this favorite without having iota of knowledge about sports itself and still likely win the bet.
I do this a lot when I do not know about the teams, but really want to gamble. Currently as the major leagues are on break and we soccer gamblers are relegated to betting on smaller leagues, I select my picks with the bookmarker's odds in unfamiliar leagues and most times it goes right. This makes me know that the bookmarkers are the most knowledgeable about leagues and clubs performances.