Last Updated on 27/09/2022
Fact checked by: Josh Schwartz
A double bet is a bet type which has been in operation for many years back. It involves punters placing two bets on two different occasions but the two bets are not separate as it were, instead they are a “team”, both bets require the success of the other to produce any returns. The first bet will be placed on a game and the second will be placed on another game. Due to its possibility for large returns, the double bet is quite popular in sports, most especially in soccer and horse-racing.
Double betting does not mean that if the punter wins in the first selection, but loses in the second, he gets to get his returns from the first bet. What’s a double bet? Well it means that the punter has to win both selections to get returns at the end of the first and the second selection. If a punter suffers a loss in the first selection, he gets no returns neither can he place a second bet nor if he wins in the first selection but loses the second, he gets no returns either.
It should be noted that the double bet is a 2 way bet, that is, the punter gets to pick from two options except in cases where the bet is being placed on a win or lose basis where the punter can only bet which of the two teams would win. In other circumstances, the bet may be on a yes or no basis such as;
“Will Team a score a goal in the first 15 minutes of the game?” The punter could then decide to bet ‘yes’ or ‘no’.
To illustrate the double bet, in a boat paddling game consisting of teams of two members, it would require that the two paddlers paddle together, at the same pace as well as with the same energy to win the game, if one team member falls behind, the second one loses, it takes two paddlers to win the game. The same way, it takes two wins to win the double bet. Of course, it means that if the punter wins in both bets, he expects to have a large return, much larger than he would have gotten if it had been a single bet.
In the game, the bettor bets that one of the teams wins and if indeed that team wins, the bettor wins his bet and uses his returns as stake to place the second bet on another game. If the team that he bets to win wins, that would be the end of his bet and he gets his large returns. But if in the first game, he bet that the team would win but it loses, his bet is lost and he has no returns neither can he go on to place a second bet. With this Double bet is explained fully in this section.
The returns from both bets can be calculated as;
The odds off each of the bets are multiplied whatever the result from it, it is multiplied by the bettor’s stake. In order to know the profit itself, the bettor’s stake is subtracted from the returns. If the bettor loses the bet, there are no returns at all as the bet of reading to win has lost; this loss is valid whether the bettor loses at the first or second stage.
The odds of the first win are multiplied by the punter’s stake in the first bet and then, he uses the first returns as his stake in the next bet. If he wins, the stake is multiplied with the odds of the second and whatever the result is, is the returns.
Assuming there is a soccer game between two teams:
Dallas FC and Chicago Bears
…with the odds of 3.1, a punter decides to stake $20 on a bet that Dallas FC will win the game. After the game, his bet wins, the bettor’s returns therefore is;
20 * 3.1= $62
After gaining $62, the punter moves on to the next bet on another game. This time, we will assume that the game is between;
New York Jets vs. LA Galaxy
The punter bets that LA Galaxy will win the game. The bookie gives odds of 2.1 and of course the punter stakes $62. If it happens that LA Galaxy wins, then the punter also wins the bet and he will get a return of;
62 * 2.1= $130.2
His total amount of returns could otherwise be calculated as;
20*(2.1*3.1) = 20*6.51= 130.2
His profit will be $130.2- 20= 110.0
Let’s assume that a punter bets in two games with the odds 2.5 and 4.1 respectively and he stakes $15. If he wins in both instances, then his returns will be;
$15*(2.5*4.1) = $15*10.25 = $153.75
His profit will then be; $153.75 – 15= $138.75
The chances of winning the double bet are estimated to be as high as 50% out of a hundred. This means that the punter has a 50% chance to win and a 50% chance to lose. It is therefore much more risky than its bet type counterparts such as the double chance bet as it has a measure of uncertainty, in two places at that, that is, the first bet and the second bet.
The double bet has the advantage of fetching the bettor large returns. In the first example given above, if the bettor had collected his returns after his win in the match between New York Jets and Everton, he would have gotten a profit of only $42 (62-20). However, because his returns were rolled over and used as his stake in the second bet, he was able to get a $138.75.
Another advantage of the double is that it has greater odds than bet types like the single bet as a result of its high risk.
On the other hand, the double bet also has a disadvantage which is that the loss of one of the two bets means no returns for the punter. It also means the bettor cannot go on to the next bet. Hence, the level of uncertainty is increased as a result of the fact that double bets require wins in both bets to produce any returns.
One of the best double bet strategies is to stake a small amount of money on the first bet, if it’s a loss, then the bettor would not have lost much money. And if it’s a win, the amount might double more than three times of the stake depending on the odds and it is used as a stake to place the second bet, if the punter wins again, he profits a lot. A safer way to play double bets would be to play it as a combination bet or accumulator.
Everyone interested can try their hands at the double bet and profit as much as they want because of the potential large returns they stand to gain. However, not all betting sites offer cool odds as well as fast return payments. We have done the most work for you by researching which of operators would suit you best, all you need do is to visit our sports betting comparison page and choose which operator you would like the most. Whichever operator you choose will profit you maximally by offering you the best odds. Make sure to also look for bookies with excellent bonus offers, such as the current (and very generous) 888sport bonus code and Resorts sportsbook welcome bonus promotions.
Conclusion: Is Double Bet Option Worth Trying?Would you like to make large profits by betting? Then, Double bet is just for you! As explained in this article, you stand to get a lot of returns by placing two separate bests using while staking your own money once. Your first return is rolled over and used as a stake to place the second bet. If you win the second bet, you are many dollars richer!