What is Double Chance Betting? | Double Chance Betting Explained
In football, we know that there are generally three different final results for a football match: a win, a loss and a draw. But there is a certain type of bet that allows you to combine two of these possible results into one type of bet, and that’s the subject of this article: double chance betting.
What is double chance betting? Double chance betting, while it is generally most popular in football, can also be used in any sport where there are three possible outcomes. So while it will work in football and hockey for example, it would not work in tennis nor with volleyball because it’s impossible for a third outcome to occur. Now that we've cleared up some of your initial questions, read on to have double chance betting explained to you in detail.
- Double Chance betting is an incredibly popular betting option in football because it covers two of the three possible outcomes.
- There are three options in double chance betting to consider the possibilities for a win/draw bet.
- In spite of that, it’s a market that is definitely overlooked and can be favourable to a good variety of punters.
- Combine double chance bets as part of an overall handicapping strategy or as part of an accumulator for a good chance to win.
What is double chance betting?
In a nutshell, a double chance bet is a type of bet where you place a win/draw option on any team. You’ll be able to win if the team you back up either wins or draws. What’s the advantage to you? If you’re on the fence about the result and your team is more likely to win or draw, then the double chance bet gives you the advantage of being able to combine them into one bet. The only way you won’t get a pay out is if your team loses.
What are the advantages and disadvantages of a double chance bet?
Firstly, your chances for winning are going to be increased. This gives you some more security because as long as it will be impossible for a team to lose, you’ll be able to combine two different options into one and get some money along the way. This is certainly a less-risky strategy since your chances of winning are going to be much higher.
However, since the odds for a double chance bet are going to be less than the odds on a bet of a win for a particular team or for a draw, it will be a downside compared to other types of bet. For football, this bet is incredibly popular, albeit the significantly lower odds, because it covers the two different options. Plus, given football’s lack of predictability makes for an extremely dynamic betting environment with double chance.
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What are the possible markets for double chance betting?
For the purposes of explaining the three primary situations you can use for a double chance betting, we’re going to use Chelsea and Manchester City as an example. In our simulation, the match is being held at Stamford Bridge, so this means that Chelsea’s going to be the home team. You essentially have three different possible bets you can place in this betting strategy:
- Win Chelsea or Draw (X1) (Home Team or Draw (X1))
- Draw or Win Manchester City (X2) (Away Team or Draw (X2))
- Chelsea or Manchester City (12) (Home Team or Away Team (12))
And within these three different types of bets, what exactly would need to happen for you to win? In the first betting option, you win if either the match ends in a draw or Chelsea wins. In the second option, you win if either Manchester City wins or if the match ends in a draw. And then, in option three, you only win if either Manchester City or Chelsea wins; if the match ends in a draw in the third option, that means you’ll lose the bet.
Double chance betting is really best served when betting on underdogs: it could be because a punter may find the other team to be extremely undervalued or the underdog is deemed to have a good value. Some websites will recommend that you shouldn’t deploy this type of bet if there’s no underdog because they don’t deem it to be worth it.
Who should bet on the double chance market?
Given the lower risk in double chance betting, this market is certainly advantageous for a good portion of punters out there. Some find it curious in fact that it’s not more popular. It would be a good bet for the risk-averse punters and for high rollers alike given the higher chances of winning. It will certainly mitigate the shorter prices that you’ll see on this market.
What are the best bookies for double chance betting?
How can you find the best opportunities for double chance betting?
There exists a whole plethora of websites that give you the best markets and fixtures for the double chance market on the internet. There are also lots of tutorials that will help you calculate the odds you should bet at it to ensure that the option is effective. Going through and calculating the odds will be a good way to create the perfect betting strategy with a diverse number of bets across a number of bookies.
Is it worth the time?
Now, this is the biggest point of contention for most of you because at the heart of any punter’s modus operandi is the possibility for long-term profits. This type of bet is a good option for riskier games because since the overall odds will be higher, the shorter price on the double chance market will not seem like too much of a rip-off. They’re also a good type of bet to put in your accumulator bets, especially in football given the popularity of double chance betting. Lastly, some also say that it is a good complement for handicap betting. Integrating this type of bet with an overall betting strategy will help add to an overall increase in odds and improve the long-term profitability.
Conclusion: Double chance betting explained
Double chance betting is a risk-minimising type of bet that is perfect for betting on underdogs or matches where you can’t decide whether your side will ever win or draw. As long as the sport has three possible outcomes, the double chance betting market is a possibility. This article used football as the vehicle for explanation since it is the more ubiquitous sport for this type of bet. Take into account that the odds will be lower on double chance bets than on standard win-only bets or draw-only bets but if you choose your fixtures correctly, you’ll have secured winnings and improve your overall game.
Are you ready to place your double chance bets now?