Last Updated on 23/09/2022
Fact checked by: Drew the DFS Guy
Double chance bet is a kind of bet type that entails a punter making combining two of the three possible outcomes in a single game. It gives the punter much higher chance at winning since he could lose if one out of three chances fail and win if any two out of three chances pass. Like the "both teams to score bet", betting double chance is averagely popular in sports most especially soccer as a result of its high chance of winning. It should be noted that the single bet with combined outcomes is placed on just one game and not two separate games unlike the double bet
Betting double chance gives an opportunity for the punter to pick two outcomes to bet on out of the three outcomes in a sporting event. These three options are:
The bettor, thus have the opportunity to pick two of the above highlighted outcomes to place his bet. These are combined into two outcomes in one bet as:
If the home team wins, the win is represented by 1, if the Away team wins, the loss is represented by 2 and if there is a draw, the draw is an X. So, the bet Home win or and draw is represented as 1X. The wins, draws or loses considered do not put the extra time into consideration, just the 90-minutes of the game.
So, the bettor gets to combine two of the above outcomes. In a soccer match, assuming there are two teams; LA Galaxy and Atlanta United FC, with the home team being LA Galaxy and the away team being A.U FC. A punter making double chance soccer bet may decide to place the bet that the match will end either with the home team LA Galaxy winning or both teams draw (1X). If the odds are given by the sports bookie are:
*3.00 for 1,
*4.00 for 2 and
1.95 For X (Draw),
Then odds for the home team or draw will be calculated as:
(100/3.00) + (100/1.95) = 33+51= 84. Then, 100/84=1.19
Given this odd, the bettor decides a stake of $100. If by chance, the match ends with a 2-0 in favor of LA Galaxy, the bettor has won the bet, or the match ends in a draw of 1-1, the bettor has also won the bet. Hence, he stands to win his stake multiplied by the odds as in;
$100 * 1.19= $119
Assuming the bettor decides to place his bet while combining the two outcomes; home win or away win (12). The betting odds would 1.72. If the bettor decides to stake $1000 and he wins, then he would get a return of $1720.
As a result of the fact that the punter has the opportunity to combine two out of three outcomes, his chances of winning is raised to two-thirds out of three, it would take one-third out of three chances for the punter to lose his bet. He could either win his bet to draw or win, win or draw or win or win. Therefore, the chances that a punter would lose his bet are considerably reduced. The relative safety of this kind of bet can be compared to other betting types such as combination bet, each way bet, or 3-way moneyline bet.
Betting double chance is simply a low-risk betting type as compared to double result bet and this makes it much easier for punters to get a positive result from their betting. They get to cover every possible outcome except the one that they think will not happen. In some instances when bettors know that a certain team is good but they do not know exactly what to expect, whether a draw or a win, double chance gives such one the opportunity to play ‘double safe’ by giving them a chance to combine ‘Home win and draw’.
Although some bookies decide to cut their odds significantly since the chance of winning is much higher, the punters get to calculate the odds to decide which will bring them the highest profit.
However, as profitable as the double chance bet is, it as a few disadvantages. One of these disadvantages is that the odds are reduced hence, the bettors either do not profit much or they may even lose. For instance, in a case where a punter wins a bet with the odds of 0.94 and his stake is $100, his return would be $94, which is $6 less of his stake. In order to profit significantly with the double chance bet, the bettor must look for a sports Bookie who offers nice odds and he or she must be willing to bet a considerable amount of money to increase his returns.
In addition, in the football environment, the result is highly dynamic and volatile, hence it could be a win one minute, a draw the next and then the end result would be a loss.
All bet types have pros and cons to them, your view of these will change based on your play style. For instance, the advantages and disadvantages of a tricast bet in horseracing are subjective to the reader. While a low-risk taker sees the higher odds in a negative light, a high roller will see the chance to win big as a positive thing.
There are 3 possible markets for a double chance betting and they are:
Unlike our example of a two-way bet, double chance betting is meant for everyone who would like to place a low risk bet as the risks involved in betting double chance is nowhere near other betting markets such as half time/ full time, double bet and the treble bet .
However, not all operators offer a great market environment for this type of betting. But we have done the grunt work for you. We have taken the due diligence to scout the best operators for the Double Chance option and all you need to do is to visit our sports betting comparison page and decide which sports bookie best suit your interests. We've also got a huge section on sportsbook bonuses, including details on the latest 888sport bonus code and Resorts sportsbook welcome bonus offers.
Conclusion: Double Chance Betting for Low Risk PuntersDo you want to bet low risk and still make a decent return? Then Double chance betting offers you a chance to do just that. A lot of individuals all over the world have at one time or another placed double chance bet and they have made profits from it. The relevance of Double chance betting and its profitability in the betting world cannot be ignored. It is a safe lane kind of betting. Unlike other betting markets, you can worry less about losing, instead, you can focus on getting the odds that would bring in as much profit as you can get and as long as it is well done, you stand to gain a lot of returns.