Double Bet 2021: Strategy, Tips & Top Betting Sites
Double bet sports betting is one of the more popular forms of betting in the industry today. Putting two wagers on a single ticket can be massively beneficial to bettors looking to increase their potential payouts. In this double bet guide, having the double bet explained will help one understand what’s a double bet, potential double bet strategy, and the risks and rewards of this type of bet.
- Consists of two wagers on the same ticket
- Both legs have to win for wager to win
- Can greatly increase potential payoutst
- Both legs have to win for wager to win
How do double bets work?
If the answer to the question of what is a double bet still isn’t entirely clear, here is a more detailed explanation. Instead of placing a single wager, or a series of single wagers, bettors can choose to perform a double bet instead. In these two leg bets, bettors are putting two wagers on their ticket instead of one. This is often referred to as a parlay throughout the United States, where the increased payout can serve as an added bonus for this wager type.
When placing a single wager, there is only one outcome that a bettor needs to worry about, and that is the outcome of the one game that they have wagered on. With doubles, there are two outcomes that need to be satisfied, and both of those outcomes need to win in order for a multi bet to be successful. If one of the two selections in the two leg bet lose, or if both lose, the wager as a whole is lost.
In the event of a push with one of the two legs of a two leg bet, the odds of the remaining leg will be used to calculate a payout using a bettor’s risk amount. Bettors should be able to use a double bet calculator to figure these scenarios out ahead of time. Should both legs end in a push, the stake will be refunded to a bettor as it would in a single wager that resulted in a push. With the two leg bet explained in greater detail, it is time for one to put in a two leg pick of their own.
How to place a double bet?
Now that what’s a double bet is known and how these wagers are structured, it is time for bettors to put together a two leg selection of their own. Doing this is very simple at today’s sportsbooks, as this type of wager is popular enough to justify sites making it a prominent method of placing a wager. Some books even allow bettors to put down a free double using a two leg bet welcome bonus to make things even easier.
To perform some double betting, the bettor must first login to the sportsbook of their choice. From there, they can choose the two events that they want to add to their double bets ticket. If those events are within the same sport, one only has to select that sport and choose from the available markets within that category. If a bettor wants to choose two legs from different sports, they will have to navigate to each sport either individually or by checking a box for each sport when first beginning the selection process.
Once a bettor has decided which events and which two markets they want to choose for their double bets, their next step is to choose their stake amount. This stake can depend on a player’s budget, their level of confidence in the games in question, and the odds of the double bet. But once a stake amount is selected, and the payout is known, all that is left to do is to confirm the wager and wait for the results to roll in.
Advantages of placing double bets
One doesn’t truly know what’s a two leg wager unless they look at the pros and cons of said wager type. Having the two leg wager explained to a bettor is one thing, but understanding why those items may be right or wrong for them in a given situation is the next step in placing successful doubles.
In terms of the advantages of placing a new double, the increased payout potential compared to a single bet has to top the list. As mentioned in our example double bet, there are additional winnings to be had when placing a new two leg wager as compared to two single tickets. With the potential for higher long-term returns, having a double bet explained as a slightly more advantageous way to put in two bets for higher returns in most cases is largely accurate.
There is also the fact that bettors can use doubles in situations where they want to do their betting on two games that are going on at the same time. In situations where one cannot roll their winnings from one wager into their next wager due to games going on simultaneously, a new double bet can offer a chance to get action on both games with less total funds risked.
Drawbacks of placing double bets
On the flip side, one should know what this kind of betting has got to offer that may not be quite as positive. First and foremost, the probability of hitting two picks to complete a successful double is less than that of converting a single line betting pick. Despite the potential for higher payouts, there is a reason one sees a double bet explained as a double, in that bettors have to get twice as many selections correct to win.
This is especially true in double bet horse racing action, where landing the outcome of two consecutive races is a potentially lucrative, albeit challenging mountain to climb. The reason for that is the fact that the odds in horse races are steeper than odds in non-horse racing events. But whether a bettor likes horse action or not, they can use a calculator to determine their potential payout.
Another shortcoming of this type of betting is the fact that it typically isn’t possible to place a new double bet in-play. This could lower the overall appeal of this type of bet to some bettors, but given how volatile live betting markets can be anyway, one of the best betting tips could be to stick to singles regardless in that arena.
Also working against double bets is the fact that the potentially superior payout amounts when compared to single wagers could lead to bettors risking too much when attempting to perform a double bet forecast to win their desired returns. That aggressive behavior could result in a double bet explained as a negative if bettors do not practice smart bankroll management practices while trying to win too much.
Example of a double wager
While having a double bet explained to bettors is useful, seeing an actual example of double betting is valuable as well to help crack the double betting code, so to speak. In this scenario, we will go through a standard double in pro football, since football is one of the most regularly wagered on sports in America. For the purposes of this football hypothetical, Team A is hosting Team B, with Team A favored by three points, and Team C is a three point favorite on the road against Team D. Each side has -110 odds against the spread (see spread betting) in this football hypothetical, although spreads and odds and potential returns can vary from game to game.
To set up a new double betting wager, a bettor would select one of the sides from each of the two games. Here, let’s use Team A -3 over Team B as one selection and Team D +3 over Team C as the second. We would select each of those sides in our sportsbook, and see that the -110 odds for both sides would yield a combined overall payout of $264.46. Instead of potentially risking $110 to win $100 on each side individually, combining the two picks into a double would result in an additional payout.
If Team A covered the spread and Team D covered the spread, both legs of the double wager would be successful, and the wager would be paid as a winner. If Team A or Team D failed to cover the spread, the wager as a whole would be deemed a loss. This creates a higher degree of risk than taking the two teams separately, but the added payout may make that risk worth it depending on the situation.
Things to consider when placing double bets
When looking at what this type of betting is able to offer bettors, one should look into a number of factors. These can help determine if, after looking at a double as a whole, this type of wager is right for each individual bettor.
First on the list of things to think about are the rules on these wagers at each site, as one should consider before taking part in any wager. Some sites may allow bettors to back a side and a total betting in the same game for a double. Other sites, on the other hand, might not. Knowing which sites offer that capability, among other rules, can greatly impact how effective double bets can be for each player.
And what’s a two leg bet without knowing the timing of each of the selections being made? In situations where games are being played at the same time, two leg betting may be a good idea. This is because you cannot roll the winnings from one of the simultaneous games into the next due to the time constraints. In a similar vein, bettors should use a calculator to determine their potential return on investment. Here are a few other things to remember for doubles.
- Using correlated selections can be beneficial
- Underdogs should be used in moderation
- Finding value in the lines is the key to a successful double
How to find the best operator for this wager type
With so many sportsbooks offering two leg bets, finding a book that allows you to place then in an environment that is best for you depends on several criteria. ur sportsbook comparison tool can help you figure out what’s a two leg wager friendly book that will work best for you. Whether you are looking for the best bonus, or have other preferences that need to be met other than a bonus, with a double bet explained thoroughly to you now, you should have a better idea as to how to choose the right betting site to apply what you’ve learned and how to use a bonus to apply it. So don’t waste any more time, use our comparison tool to find the best place to place your wagers and get a bonus.