1) This team are the underdogs.
2) This team are the underdogs in this match
3 ) I don't think this team will win, they are the underdogs.
underdogs do not have a set position "underdogs" are just inferior teams not expected to win a particular match or championship or football league.
"Underdogs" are not automatically in the bottom position at all times, or any time.
an underdog in one match, will not be the underdogs in another match against another team.
it is just how they are statistically ranked based on past performances and current winning ability.
'the underdogs" is all that is required to be said. Do not get into a grammatical muddle over it.