Double Chance Bet 2020: Strategy, Tips & Top Betting Sites
In the sea of different betting options, the double chance bet is one of the more popular choices among bettors. Like the name suggests, it is an option where you bet on two possible outcomes instead of just one, usually on one team to win or the game to finish as a draw. This betting type is, of course, only available for those sports where it is possible for a match to finish in a draw, such as football. It lets you cover yourself more, by betting simultaneously on the home and away team, increasing your win chances albeit at reduced odds.
- Bet on two out of three possible outcome
- Lower variance and increase win-rate of your wagers
- Take some calculated risks along the way
- Steadily build your betting bankroll
Double chance bet basics explained
The double result bet is a very popular option for those punters who prefer to take a lower risk route. It is often used for betting football, for example, as the draw is a realistic possibility in any football match. Most often, this bet is expressed on a betting slip as:
In the first example, you’d be betting on the home to win the game or for the game to finish in a draw. The second example means you’re betting on the draw or the win of the away team. The last option (12) is the least frequent one and not offered by all bookies or for all matches. With it, you’re effectively betting on either the home or the away team to win the match and as long as the game doesn’t end up as a football draw, your bet will win.
Clearly, betting double chance gives you a much better chance of winning than had you bet on any single outcome. This is what makes it so popular with the players, especially those who don’t like gambling too much and would rather cover their options better. Although there are no guarantees in sports betting, this approach definitely improves your winning chances.
Betting double chance: Understanding the odds
In order to understand how to bet double chance and win, it is important to first understand how it works in terms of odds. Namely, less experienced players are often confused about why they should choose double chance betting over simply betting on two different slips on two different outcomes, i.e. betting the home win on one slip and the draw or away team win on another.
The best way to explain this is by using an example of an imaginary football Champions League game between Barcelona and Manchester United. Let’s say you want to bet on 1x, i.e. Barca to win or the game to finish in a draw. The bookie gives you odds of -220, so if you bet $100 and either of these two things happen, you make $45 profit.
Now, if you wanted to place two $50 bets separately and the odds were like this:
- Barcelona to win – 400
- Draw +230
If the home team wins, you make $12.5 profit on that bet but lose $50 on the second bet (draw), netting you a $37.5 loss. If the game finishes in a draw, you’d make $65 profit when all is said and done. So, you’d be better off making two bets if the match ends in a draw but you’d be out of pocket if Barcelona wins.
The whole point of the double bet is to reduce your risk. When doing so, you’ll naturally have to compromise on the odds somewhat, as we can see from the above example. At the same time, you’ll have better chances of winning your bet and if you’re playing accumulators, using these markets instead of outrights will help reduce the variance.
Advantages & disadvantages of double result bet
Betting double result has its advantages and disadvantages, just like any other type of bet available across sports betting sites in the US. While this choice may not be the best one for all punters out there, it is worth looking at the upsides and downsides of this approach to sports betting before discarding it.
Some of the advantages connected to double chance bets are:
- You increase your chances of winning
- The variance of double bets is lower
- They’re a great option in matches where you have doubts
- Sometimes there are special offers to boost your odds
Placing a double chance football bet, for example, is a good way to reduce your risk, especially in matches where it is hard to say who the clear favorite is. If you can’t clearly identify the favorite to win between the home and away team, going with two picks means you’ll have some wiggle room. Additionally, this can also make it more exciting to watch the games you’re betting on as you’ll less often be in a situation where things are done and your bet is clearly lost.
Of course, there is the flip side of this particular b`etting options and it has some disadvantages:
- Double chance bets often have fairly low odds
- Sometimes bookmaker won’t give you the option to place the bet you’d want
- These bets aren’t particularly good for matches where there is a clear favorite
If you’re someone who likes to take bigger risks and want to go for bigger wins, these types of bets probably aren’t for you. With usually lower odds, you’d have to place a fairly large wager to get the kind of return you’re looking for and since double chance bets aren’t completely risk-free, it would mean putting a larger percentage of your bankroll on the line than you might be prepared to do.
So, all in all, this can be a fine option for certain games and matches, especially in leagues that you aren’t familiar with or Champions League or Europa League matches where there isn’t a clear-cut favorite and the draw is always an option. By covering two possible results instead of just one, you’ll give yourself a better shot at winning.
Double chance bet strategy
Although there isn’t a specific bet guide that would cover an ideal double chance bet strategy, there are certain things you should consider when making your decision. Now that we’ve answered all questions about how does a double chance work we can proceed to talk a bit about the strategy behind this approach.
As already mentioned, this type of bet is the best suited where there isn’t a clear favorite to win the match or in those spots where a home or away team has virtually no realistic chances of winning. In the second case, you’re basically covering both likely outcomes but the drawback of this approach is that betting odds will usually be quite low or not available at all. Since you aren’t doing much of gambling here, it is normal for the bookmaker to offer very low odds.
This approach can be successfully used as a part of martingale betting system with progressively increasing bets. Since it is lower-risk than other systems, it is a good option for the players who don’t have that big of a betting bankroll or simply aren’t comfortable with going on a prolonged losing stretches. With the double chance betting, this just isn’t likely to happen.
Of course, as with all things betting, if you want to give yourself the best chance, it is always a good idea to look out for some double chance betting tips. These can be found on free and paid sites alike and you might discover some good tips in our forum section as well. Of course, if you’re an expert yourself, your insights and advice would be much appreciated by other punters.
The key to make this strategy the most successful and profitable is balancing between risk and reward. While you want to protect yourself by betting both outcomes, you also don’t want to necessarily do it in matches where offered odds are so low that the return on your bet is simply not worth the risk. So, you’ll still want to take some calculated risks along the way, especially when these are backed by some insider knowledge about market movements, changes within the teams, or any other information you might have access.
Make your double chance bets count
Now that you have all the information about how this specific type of bet works and what you need to look for when placing your bets, it is time to make some money. Almost all bookmakers out there allow betting double result, so no matter what bookie you choose, you can’t really go wrong. Check out our comparison of sports betting operators, find the one you like, and start placing your wagers now!