What is Double Chance Betting? | Double Chance Betting Explained
Up-step double chance betting!
In football, we know that there are generally three different final results in a match: the home team wins, the away team wins, or the game ends in a draw.
A double chance bet, which is widely available at most football betting sites, lets you back two of the outcomes mentioned above, with a single stake.
The basics of double chance betting?
Let’s kick this off with a little example: Say Burnley are playing Man United at Old Trafford and our betting tips article suggests that Burnley could cause an upset due to both teams current form.
Throwing all your eggs in the Burnley basket may be a step too far, but getting slightly shorter odds for a Burnley win or draw could be just the ticket.
The double chance bet removes the risk of that late equaliser ruining your bet or Acca.
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What are the advantages and disadvantages of a double chance bet?
Firstly, your chances for winning are going to be increased. This gives you more security because as long as it will be near-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 undoubtedly a less-risky strategy than some in-play betting strategies since your chances of winning are going to be much higher.
However, because the odds for double chance bets are typically less than the odds on the 1X2, you will lose some of the value. For football, this bet is incredibly popular, albeit the significantly lower odds, because it covers the two different options.
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What are the possible markets for double chance betting?
To explain the three primary situations, you can use for a double chance betting; we’re going to use Chelsea and Manchester City as an example.
The match is being held at Stamford Bridge, meaning Chelsea is 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, how can you cover possible outcomes 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 double chance bet. Steps to follow when double chance betting will usually mean thinking about the relative form of the teams.
Double chance betting is best served when betting on underdogs. It can be great for when an undervalued away team wins: it could be because a punter may find the other side to be extremely undervalued or the underdog is deemed to have good value.
Some websites will recommend that you shouldn’t deploy this type of bet if there’s no underdog because they don’t believe it to be worth it. But if you are at a betting site that offers cash out options, then this could be worth trying.
Who should bet on the double chance market?
Given the lower risk in double chance betting, this market is undoubtedly 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 surely mitigate the shorter prices that you’ll see on this market.
How can you find the best opportunities for double chance betting?
There are many websites that give you the best markets and fixtures for the double chance market on the internet, and it is said that the best odds for the double chance market will be found on Bet365, William Hill, BetVictor and Betfair.
There are also lots of tutorials that will help you cover possible outcomes and calculate the odds for the most effective wagering options. Going through and calculating the odds will be an excellent way to create the perfect betting strategy with a diverse number of bets across several bookies.
So is double chance betting 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 for when your team wins matches.
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 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 draw or win.
Draws matches are less common than wins, but they can be factored into this kind of bet for bigger profits. 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 an explanation since it is the universal 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.