Sports betting has been around for centuries, with people placing wagers on the outcome of various sporting events. As time has passed, the popularity of sports betting has only grown, and with the rise of online betting platforms, it has become more accessible to people all over the world. With the increase in competition, bookmakers have come up with different types of bets to attract bettors, one of which is the double chance bet.
A double chance bet is a type of bet where you can place two different outcomes on a single event, increasing your chances of winning. It is a popular choice among both amateur and experienced bettors due to its flexibility and safety. In this article, we will explore everything you need to know about double chance betting, from how it works to strategies you can use to increase your chances of winning.
Understanding Double Chance Bet
A double chance bet is a type of bet that covers two possible outcomes of a game, giving bettors an increased chance of winning. It is usually offered in sports such as football, basketball, and hockey, where there are three possible outcomes: team A wins, team B wins, or the game ends in a draw. With a double chance bet, you can cover two out of these three outcomes, reducing the risk of losing your entire stake.
A double chance bet allows bettors to cover two potential outcomes of a game, thereby increasing their likelihood of winning
How Does It Work?
Let’s take a football match between Manchester United and Liverpool as an example. With a regular bet, you would have to choose between Manchester United winning, Liverpool winning, or a draw. However, with a double chance bet, you can cover two of these outcomes, such as Manchester United winning or a draw, or Liverpool winning or a draw.
If you place a $100 bet on Manchester United to win or a draw with odds of 1.50, and the game ends in a draw, you will win $150 ($100 x 1.50). However, if Manchester United wins, you would still win the bet with reduced odds of 1.25 and receive a payout of $125 ($100 x 1.25). The same principle applies for the other possible outcomes.
Advantages of Double Chance Bet
There are several advantages to placing a double chance bet, which makes it a popular choice among bettors.
Increased Chances of Winning
The main advantage of a double chance bet is that it increases your chances of winning. With a regular bet, you have to accurately predict the outcome of a game, but with a double chance bet, you can cover two out of three possible outcomes. This reduces the risk of losing your entire stake and gives you a higher chance of winning.
Lower Risk
As mentioned earlier, a double chance bet has a lower risk compared to a regular bet. By covering two outcomes, you are hedging your bet and reducing the potential loss. This is particularly beneficial when betting on an underdog or a closely contested match.
Higher Odds
Since a double chance bet covers two outcomes, the odds are usually lower than a regular bet. However, in certain cases, the odds for a double chance bet may be higher. For example, if you are placing a double chance bet on a heavy favorite, the odds for them to win or draw may be higher than their odds to simply win.
Types of Double Chance Bet
Double chance bets can come in different variations, depending on the sport and the bookmaker. However, there are three main types of double chance bets that are commonly offered by bookmakers.
Double chance bets can vary in form depending on the sport and the specific policies of the bookmaker offering them
Home Team/Draw (1X)
This type of double chance bet covers the home team to either win or draw the game. This is a good option when the home team is considered the favorite, but the opposing team is also a strong contender. It reduces the risk of losing your entire stake if the home team fails to win.
Away Team/Draw (X2)
This type of double chance bet covers the away team to either win or draw the game. This is a good option when the away team is considered the favorite, but the opposing team is also a strong contender. It reduces the risk of losing your entire stake if the away team fails to win.
Home Team/Away Team (12)
This type of double chance bet covers both the home team and the away team to win the game, essentially eliminating the possibility of a draw. This is a popular choice for closely contested games where there is no clear favorite.
Strategies for Double Chance Bet
While double chance bets may increase your chances of winning, it is still important to have a strategy in place to maximize your potential profits. Here are three strategies you can use when placing a double chance bet.
Although double chance bets can improve your winning odds, it remains crucial to implement a strategy to optimize potential profits
Analyze Historical Data
One way to increase your chances of winning with a double chance bet is by analyzing past data of the teams playing. Look at their head-to-head record, their current form, and their performance against similar opponents. This will give you a better understanding of how the teams match up and which outcome has a higher probability.
Consider Different Bookmakers
Different bookmakers may offer different odds for a double chance bet, so it is important to shop around and compare before placing your bet. Look for bookmakers that offer competitive odds and choose the one with the best value.
Hedge Your Bets
Another strategy is to hedge your double chance bet with a regular bet on the opposite outcome. For example, if you are placing a double chance bet on the home team to win or draw, you can also place a regular bet on the away team to win. This ensures that you will win at least one of your bets, reducing the risk of losing your entire stake.
Pros and Cons of Double Chance Bet
As with any type of betting, there are both advantages and disadvantages to placing a double chance bet.
Pros
- Increased chances of winning
- Lower risk compared to regular bets
- High odds in certain cases
Cons
- Lower potential payout
- Limited options for games where there are clear favorites
- May require more research and analysis compared to regular bets
Sports Suitable for Double Chance Bet
While double chance bets can be placed on various sports, some sports are more suitable for this type of bet than others.
Football
Football is one of the most popular sports for double chance betting, as it offers three possible outcomes: home win, away win, or draw. It is also a sport where upsets can happen, making it a good option for hedging your bets.
Basketball
In basketball, a double chance bet is usually offered on the total points scored by both teams. Bettors can choose whether the total points will be over or under a certain amount, giving them two possible outcomes to bet on.
Hockey
Hockey is another sport where double chance bets are commonly offered on the total goals scored. Similar to basketball, bettors can choose whether the total goals will be over or under a designated amount.
Tips for Placing a Successful Double Chance Bet
Placing a successful double chance bet requires a good understanding of the sport, the teams involved, and the odds offered by bookmakers. Here are a few tips to keep in mind when placing your double chance bet.
Do Your Research
Before placing a double chance bet, make sure to do your research on the teams involved. Look at their past performances, head-to-head record, and current form. This will give you a better idea of which outcome to choose.
Keep Your Stakes Reasonable
As with any type of betting, it is important to bet within your means. Do not place a double chance bet with an amount that you cannot afford to lose. Keep your stakes reasonable and stay within your budget.
Monitor Odds Movement
Odds for a double chance bet can change leading up to the game, so it is important to monitor them and place your bet at the right time. If you notice that odds for one outcome are decreasing, it may be a good time to place your bet before they change further.
Consider the Importance of the Game
The importance of a game can also plays a role in the outcome. Teams may approach a game differently depending on their standings or if it is a crucial match. Take this into consideration when placing your bet.
Conclusion
In conclusion, a double chance bet is a popular option for bettors looking to increase their chances of winning and reduce their risk. It offers flexibility and safety, making it a suitable choice for both amateur and experienced bettors. However, it is important to do your research, consider different bookmakers, and have a strategy in place to maximize your potential profits. With the tips and strategies mentioned in this article, you can make informed decisions and place successful double chance bets. So, next time you place a bet, consider doubling your chances with a double chance bet.
