Betting on sports is a popular pastime for many people who enjoy the thrill and excitement of having something at stake while watching their favorite teams and players compete. However, sports betting also involves understanding the different types of bets available and how they work. One such bet is the double chance bet, which provides the bettor two opportunities to win. This article will explain what double chance bets are, how they work, and when they can be advantageous for bettors.
What is a Double Chance Bet?
A double chance bet, sometimes also referred to as a win-draw bet, is a type of wager where you choose two of the three possible outcomes of a match. Typically, this means you are betting on either a win for one team or a draw, covering two of the three normal betting outcomes. In addition to the standard win-draw double chance bets, it is also possible to place a 1X2 double chance bet. This covers a win for either team, eliminating the draw as a possible outcome. The only two losing scenarios are if the team you did not choose wins or the match ends in a draw when you staked 12 outcome. The odds and payouts on double chance bets are lower than betting on just one match outcome, since your chances of winning the bet are increased by covering two results instead of one.
How Do Double Chance Bets Work?
To better understand double chance betting, let’s look at an example:
|
Match Outcome |
Bet Wins? |
|---|---|
| Arsenal Win | Yes |
| Draw | Yes |
| Chelsea Win | No |
In a Premier League match between Arsenal and Chelsea, you place a double chance bet backing Arsenal to win or draw. If Arsenal wins or draws the match, you win the bet. However, if Chelsea wins, you lose the bet.
Some key points:
- You are able to bet on two of the three possible outcomes by backing Team 1 to win or draw.
- It is possible to bet on 12 outcome, that means you exclude a draw in outcome.
- This increases your chances of winning versus betting on just one outcome.
- The payout odds are lower to reflect the higher win probability.
When Are Double Chance Bets Useful?
Double chance betting can be a useful strategy in certain situations:
- Close Match-ups: In games where teams are evenly matched, the probability of a draw is higher. Backing your favored team to win or draw covers additional scenarios where they may come away with a result.
- Risk Mitigation: If you want to back an underdog but are unsure of their chances, a double chance bet provides insurance in case they are only able to snatch a draw.
- Uncertainty: At the start of a new season or with a new manager, it can be hard to predict how teams will perform. A double chance bet allows you to cover multiple outcomes until you have more certainty.
While these scenarios make a double chance bet appealing, there are also some drawbacks to consider:
- Lower Odds: The odds are lower than betting on a single match result, which means a lower return for winning bets.
- No Chance at Big Payout: Backing a clear underdog to win outright provides an opportunity for a big payout. A double chance bet significantly limits the potential return.
- More Outcomes Covered: When you bet on two results instead of one, it becomes more likely you will win in the long run. However, it also reduces the excitement and thrill of betting.
Examples of When a Double Chance Bet Can Be Useful
- Newly Promoted Team Facing Relegation Favorite: Backing the underdog to beat the drop candidate or draw gives two chances to win.
- Derby Matches: Bitter rivals are likely to be cautious and play out a tense draw.
- Major Tournament Group Stage: In the opening matches, teams are often still gelling and games can be tentative.
- Inclement Weather: Rain, wind, or snow can hamper offenses and make a draw more likely.
- Late Season Matches Between Mid-Table Teams: With little at stake, motivation may be low and teams settle for draws.
Double chance bets can be placed on a variety of sports beyond just football (soccer). In ice hockey, you might back home or draw, away or draw, or home or away in regulation time. In tennis, you could bet on a player to win or for the match to go to 3 sets.
The European or decimal odds for double chance bets are calculated based on the probability for each outcome covered. For example, if the odds for Team A to win are 2.25 and the odds for a draw are 3.2, a double chance bet backing Team A to win or draw may have odds around 1.57. The odds reflect that the bettor has a higher likelihood of winning the bet. Regardless of sport, assessing the implied probabilities based on the European odds is key to determining if a double chance bet represents good value. Being flexible across sports allows additional opportunities to leverage double chance bets at appealing odds.
To sum it up, while not the most exciting bet, double chance wagers have their place as a strategic option. They allow you to increase your chances of winning in certain matchups where the risks around a single outcome feel too high. However, the reduced odds and payouts limit the big win potential. Understanding when to leverage a double chance bet requires experience in assessing team strengths, motivations, and styles of play. Like any bet, it ultimately comes down to analyzing the available information to determine if the odds being offered represent good value. With the right match-up, double chance bets can prove rewarding both financially and in mitigating the risks. As with any form of betting, it’s important to wager responsibly, set limits, and never bet more than you can afford to lose. While double chance bets can be a useful tool, they should be used as part of an overall smart and measured approach to sports betting.
