What is Double Chance in Betting? Double Chance Betting Explained
For an alternative to the more common betting methods, punters sometimes opt for double chance betting. This strategy involves wagering on two of the three possible outcomes in an event – either team A wins, team B wins, or it’s a draw. This provides insurance by increasing your chances of winning, though the payout is lower than betting on just one outcome. Essentially, double chance trades off a higher probability of winning against a reduced return.
In this guide, we’ll show you how to try double chance betting for yourself, the pros and cons of this method and why it’s an ideal choice for beginners.
How Double Chance Betting Works
With most sports match bets, there are three possible outcomes – Team A wins, Team B wins, or the match ends in a draw/tie. A standard bet requires you to predict just one of those outcomes correctly to win. Double chance betting, on the other hand, allows you to cover two of the three outcomes in a single bet. For example, you could bet on “Team A to win OR match to be a draw”. This increases your chances of winning, but the tradeoff is that the odds and potential payout are lower than an equivalent single outcome bet.
So why use a double chance bet strategy? It provides insurance against your predicted outcome not occurring. Betting on just one outcome means you win big if you’re right, but lose the entire stake if you’re not. Backing two outcomes reduces risk – you have two ways to win rather than one. While accumulative winnings will likely be less over time, double chance helps mitigate losing streaks. For those wanting decent returns with minimized risk, double chance betting can provide a viable middle ground.
Double Chance 1x meaning explained
Double chance 1X is a type of bet where you are betting on two outcomes in a sporting event – either for the home team (Team 1) to win OR for the game to end in a draw (X).
Some key things to know about double chance 1X betting:- It covers two of the three possible outcomes – a win for Team 1 or a draw. The third outcome not covered is an away team (Team 2) win.
- The odds are lower than betting solely on Team 1 to win or on a draw, since it covers two outcomes instead of just one. But it has higher odds than betting on Team 1 or Draw separately.
- It provides some insurance in case your predicted outcome of a Team 1 win doesn’t happen. The bet can still win if the game draws. (Check out some interesting Premier League draw stats here.)
- The potential payout is less than betting only on the 1 (Team 1 win) outcome, since there is a greater chance of winning the bet.
So in summary, a double chance 1X bet is useful for betting on the home side (Team 1) to win, but also covering the possibility of them not winning by including the draw outcome. The tradeoff is a reduction in potential profits due to the increased probability of a winning bet.
Double Chance 2x meaning explained
Instead of betting on the home team (Team 1), double chance 2X bets see punters bet on the away team (Team 2) to win or for the game to end in a draw (X).
Here’s what to know about double chance 2X betting:- As with double chance 1X, it covers two out of three possible outcomes – a win for Team 2 or a draw. The third outcome not covered is a home team (Team 1) win.
- The odds are lower than betting solely on Team 2 to win or on a draw, since it covers two outcomes instead of just one. But it has higher odds than betting on Team 2 or Draw separately.
- It provides some insurance in case your predicted outcome of a Team 2 win doesn’t happen. The bet can still win if the game draws.
- The potential payout is less than betting only on a Team 2 win, since there is a greater chance of winning the bet.
A double chance 2X bet comes in handy when you bet on the away side (Team 2) to win, as it also covers the chance of them losing by including the possibility of a draw. As with a double chance 1X bet, the downside is the potential for smaller profits due to the increased likelihood of a winning bet.
Double Chance 12 meaning explained
Now you know about double chance 1X and 2X – but what is double chance 12 in betting? This option allows you to wager on two outcomes in a match – either the home team winning or the away team winning. It covers both these possibilities in a single bet.
This provides insurance if your prediction of one team winning is wrong, as you still win if the other team prevails. The tradeoff is lower potential earnings compared to betting solely on one team, as covering two outcomes increases your chances.
Double chance 12 can be useful when confident either the home or away team will win but unsure which will do so. It gives two opportunities to win from one bet placed, though with reduced possible returns compared to betting on just one team.
In summary, this type of bet extends your chances by covering two predicted winners, rather than staking everything on one team. The increased probability of winning comes with smaller profits.
How to calculate your own double chance bet
Want to calculate and determine the odds for your own double chance bet? Here’s how to approach it:
- Identify the three possible outcomes for the event you want to bet on. For a sports match, this is usually: Team A wins, Team B wins, or Draw/Tie.
- Decide which two outcomes you want to group together for your double chance bet. Common combinations are: Team A wins OR draw, Team B wins OR draw, and Team A wins OR Team B wins.
- Determine the individual odds for each outcome you selected. For example, Team A to win may be 1.8, draw may be 3.2.
- To calculate the double chance odds, add the decimal odds of the two outcomes together. For Team A wins or draw, it would be: 1.8 + 3.2 = 5.0
- When you place your double chance bet, your payout will be based on these combined odds if either of your chosen outcomes occurs. The payout will be lower than betting solely on one outcome but your chance of winning is higher.
Why use double chance in betting?
If you’re yet to try double chance betting for yourself, here are some reasons to consider it alongside more typical wagering options:
Enjoy more winning bets
Double chance betting provides a strategic advantage for sports bettors who want to increase their chances of picking a winning wager, while sacrificing a small amount of potential payout. By combining two of the three possible outcomes of an event into a single bet, you gain a higher probability of success compared to betting on just one outcome. This hedging of your bets essentially provides insurance in case your prediction is wrong.
Ideal for beginners
Double chance betting provides an ideal starting point for beginners as they get acquainted with sports wagering. By combining two outcomes into a single bet, the room for error increases. Beginners lack the deep knowledge and prediction skills of experienced punters, so doubling their chances caters to this. The lower risk provides a gentle introduction that builds confidence through early, achievable success. With less pressure thanks to having two opportunities to win, beginners can focus more on learning the ropes. The foundational concept of hedging bets also sets up new bettors for more advanced strategies down the line.
Easier than manual hedging
Rather than placing separate wagers on each outcome to hedge your bets, double chance betting condenses the process into a single bet. This simplifies the hedging for novice bettors. There’s no need to do the math to figure out optimal stakes for covering your bases across multiple bets, as the hedge ratio is fixed automatically. With manual hedging, you risk making mistakes in calculations and having suboptimal coverage. Double chance eliminates this complexity by inherently combining two results, with the odds already adjusted accordingly.
Double Chance Strategy and Tips
Fancy having a go at double chance betting? Take a look at these essential tips before you get started:
- Make mathematical predictions: Use historical stats and data to mathematically predict the likelihood of each outcome. This will indicate whether the odds being offered represent value to cover two results.
- Low score home wins: When betting on the home team, combine with the draw in low-scoring sports. For example, when you’re betting on football. The home advantage is larger in close games with less goals.
- Insure against home advantage: If betting on the away team to win, hedge against the home team’s advantage by combining with the draw. This option provides insurance should they fail to overcome the home favouritism.
- Double chance accumulators: Combining multiple double chance bets into an accumulator can rapidly increase your chances of winning. Watch out, though – this significantly reduces your accumulator payout in the process. You can calculate potential returns for this type of bet by using one of our free bet calculators. For example, use our Double Bet Calculator for doubles.
Pros and Cons of Double Chance Betting
While a double chance bet strategy provides some advantages, there are also some potential downsides to consider.
Pros:
- Increased chances of winning
- Lower variance
- Combining two outcomes allows for greater likelihood of success
- Smooths out fluctuations in profit and loss
Cons:
- Lower risk means reduced payouts on winning bets
- Caps are placed on profits due to the insurance you gain
Where to find Double Chance Betting Markets
Double chance betting markets are readily available at leading online bookmakers including Bet365, Unibet, Ladbrokes, Betfair, and William Hill. Being a mainstream betting market, all reputable sportsbooks will offer double chance as a standard option across their sports coverage. Simply navigate to the sport you want to bet on to find double chance odds.
Alternatives to double chance betting
While double chance betting is a popular way to increase winning chances, there are also some alternative strategies to consider:
Draw No Bet
Draw No Bet functions similarly to a double chance bet, with the draw outcome removed. This allows you to bet purely on Team A or Team B without the possibility of a push if it ends up being a draw. The odds are adjusted accordingly. The advantage is a definitive win if your team prevails, but the downside is losing the insurance of the draw as a backup option.
Asian Handicaps
Rather than a double chance combining outcomes, Asian Handicaps shift the odds in your favor by giving a handicap advantage to one team. This effectively creates an additional winning scenario similar to a double chance. While more complex, Asian Handicaps allow flexibility in the handicap amount to fine tune the odds.
Conclusion
Double chance is a straightforward yet strategic betting method that allows you to hedge your bets. By combining two out of three possible outcomes into one wager, you increase your chances of picking a winner – but at the expense of winning maximum profits. Beginners can benefit from double chance betting’s simplicity and the lower risk, while expert punters can use it to reduce variance.
Now that you understand the basics of how double chance betting works and its advantages, you can start applying this versatile strategy in your own sports betting!
FAQs
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