​Betting on both sides of a game could be profitable in the long run?

I’ve been playing around with the idea of betting on both sides of a game—placing money on both the favorite and the underdog. I know it sounds counterintuitive, but when you see underdog odds as high as +300 or +400, there’s potential for a decent payout. The trick is to balance the amounts carefully, so even if one bet loses, the other compensates.

For instance, in games where the favorite has shaky performance, betting a smaller amount on the underdog can sometimes result in a win that covers both bets, even with lower payouts from the favorite side. I’ve had a couple of wins this way, but it’s definitely not foolproof. The challenge is keeping up with shifting odds across platforms and figuring out where the value lies.

Has anyone else tried a similar strategy? I’m curious to know if this works better over time or if it’s just been luck on my end.