If you’re looking for a bet that will provide you with more chance of winning, then you may wish to take a look at the double chance bet option. This gives you the opportunity to cover two of the three possible outcomes available on a match, which is also what makes it a very popular form of gambling to engage in.
Maybe you have already participated in double chance bets, if you have some sports betting experience. But if not, then you could stand to benefit from it. So, to learn more about double chance bets and how they operate, we’re here to provide some guidance on such. Let’s discover more about double chance betting.
How Does a Double Chance Bet Operate?
If you were to take a look at a football match, then you’d see that you can basically bet on team A to win, team B to win or a draw result to be the final outcome. If you utilise a double chance bet, then you get to increase your chances of being on the receiving end of a pay-out by combining two of the possible outcomes into one single wager. Therefore, the options that you can select from are the following:
• Home or Draw, which sees you betting on either the home team winning or the match ending in a draw result. If the away team wins in this respect, you lose.
• Away or Draw, which proceeds with a bet on the away team winning or a draw occurring. Should the home team win, you lose.
• Home or Away, giving you the chance to bet on there being a winner regardless of which side picks up the victory. Obviously, if a draw result is reached, then you lose this double chance bet.
The Advantages That Come with Double Chance Betting
Obviously, the primary advantage of placing a double chance bet is that you increase your overall chances of winning. Because you’re backing two of the possible outcomes rather than one, you’re essentially doubling your chances, which is where the bet takes its name from.
Not only that, but it’s a great route to take if you’re intending to back the underdog. So, should you believe that the match will result in an upset outcome, you could back the underdog with a double chance bet, as well as the top-tier team. So, let’s say that the league leaders were facing a team at the bottom, but you’re fairly sure that the underdog will come out fighting and claim a win, a double chance bet is a perfect option. Of course, they don’t need to pull off a huge upset victory for this to happen – they essentially need to be a single goal ahead of their opponents by the end. In this respect, you win, too.
The Disadvantages That Come with Double Chance Betting
The primary disadvantage that comes with placing double chance wagers is that the odds attached to such are significantly lower than a singles bet. This is due to the fact that you’re getting to place a bet on two different outcomes in one go. So, you should be prepared for this when deciding upon placing a double chance wager.
If you’re backing a clear favourite to win too, then double chance betting won’t really benefit you. A singles bet on the clear favourite would be much more appropriate in this situation. That’s why it’s much more apt for backing an underdog, because the outcome of the match isn’t quite as certain in those circumstances. So, it’s not always an appropriate bet for you to utilise.
What About Making Two Separate Bets Rather Than a Single Double Chance Bet?
With the odds being lower on double chance bets, there are questions frequently asked about whether it would just be more profitable to place two singles bets on the different match outcomes. On occasion, that would be a positive answer, as it can be more profitable to do so. Yet, it’s not always the case.
Essentially, you need to ensure that you look at the odds of the sportsbook on the event and utilise a bet calculator in order to work out what the potential profit would be prior to making your bet. Whatever type of bet results in the bet sort of profit is the bet that you should proceed with, generally.
Let’s take an example into consideration here. In the example, a football match between England and Croatia is set to take place in an event. You’re intending to use a stake of £100 at a sportsbook, and you see that the double chance option for your fixture would include odds of 1.14 for England or a draw, 2.60 for Croatia or a draw, or 1.25 for England or Croatia to win.
So, in this case, a stake of £100 on each of these double chance bets would provide profit of:
• England or a Draw – £114 (profit of £14)
• Croatia or a Draw – £260 (profit of £160)
• England or Croatia - £125 (profit of £25)
Should you opt to split that stake into two bets of £50, you receive outright odds of 1.53 on England, 6.00 on Croatia or 4.00 on a draw result. So, by placing two singles bets on these outcomes, you would receive:
England – £76.50
Croatia - £300
Draw - £200
So, should you back England or the draw separately, and England was the winning team, you would lose £24.50, based on the total overall stake of £100 (split into two £50 wagers). Your overall profit should the game result in a draw would be £100.
So, it’s clear to see that if you’re intending to back England but with less risk than placing the full £100 on them, it’s better to take the double chance bet route. On the other hand, if you intend to back Croatia or a draw, you need to make a decision as to whether you want to go ahead with the double chance bet or place two singles bets of £50 each.
The overall profit of £100 for the draw with a single bet is lower than that from a potential double chance profit of £160. Yet, you also have a £200 profit should Croatia win with the single bet route.
