If you have ever wondered what the double chance betting meaning is, then you are in the right place. We are going to explain what double chance betting is, and show you how it could prove to be an invaluable tool in your sports betting arsenal. Everyone wants to know how to beat the bookies – but it always starts with a good strategy.
Whilst our guide to double chance betting won’t necessarily help you win every sports bet that you make, it can assist in giving you to the tools necessary to supercharge your wagering powers. So let’s have a quick look at the double chance betting meaning.
- Bet on two outcomes of sporting event
- Wager on a win and a draw in a football match
- Good way to succeed with your sports bets
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YOUR QUICK GUIDE TO DOUBLE CHANCE BETTING
Want to know how to win a bet on football? Simply put, a double chance bet means that you will wager on two potential outcomes of a sporting event. This usually refers to both the win and draw part of a bet, and can be applied to sports events where there are three possible outcomes.
For example, if you wanted to bet on Manchester United versus Arsenal, then you would usually either place a bet on a home win, draw, or away win. But with double chance betting you would wager on two of these outcomes which would be a win and a draw, or you could also bet on either team to win with the draw being taken out of the equation.
This has the potential of giving you a much greater chance of getting a winning result with your sports bet, although would come at the cost of having less potential profits as a result of the reduced betting odds. But on the whole, double chance betting is a perfect strategy to use if you want to place a sports bet, but aren’t quite convinced that your chosen team is going to win the match.
WHY BOTHER WITH A DOUBLE CHANCE BET?
As double chance betting usually gives you less in the way of profits than a standard match winner single bet, then there will be plenty of people who will be wondering if a double chance bet is worthwhile.
A double chance bet not only gives you a less risky betting option, but it can also be a good choice to add to an accumulator bet, or even try alongside some handicap betting. By complementing a reasonably safe bet like a double chance wager with some more risky bets, it could help you minimise any nasty losses and still walk away with a reasonable wagering profit at the end of the day.
WHY DOUBLE CHANCE BETTING INCREASES YOUR ODDS
Whilst double chance betting might not be the most popular bet type, it still has plenty of ways to help you with wagering. Here are the main reasons as to why a double chance bet could be a great option for the next time you visit a bookie’s site.
- Adds an extra level of safety to your sports bets
- Applicable to a good amount of sporting events
- Good to add into an accumulator bet
WHEN TO USE A DOUBLE CHANCE BET
Whilst double chance betting is a great option for many sporting events, as you can only use it when there are a total of three outcomes, it’s clear that it won’t be applicable to all sports. Here is a quick look at the sports that you can and can’t use a double chance bet on.
POPULAR SPORTS TO TRY A DOUBLE CHANCE BET ON
Football betting and double chance bets go hand in hand. Lots of punters enjoy adding a touch of insurance to their football bet by backing both a win and draw outcome when they are facing a potentially tricky team.
But double chance betting can also be applicable to plenty more sports where there is a good chance of either a win or draw. For example, it’s easy to place a double chance bet on sports like hockey, icy hockey and other sports where there are three possible outcomes. Some punters have also found success in placing double chance bets on Test match cricket where a draw result is an outcome that can occur regularly.
If things unfortunately happen to go south while you’re betting, you might be wondering how to get your money back from gambling sites. Thankfully, we’ve got a guide just for that.
SPORTS THAT WON’T WORK WITH A DOUBLE CHANCE BET
If you are fan of sports where there can only be a winner or loser in the match, then you won’t be able to place double chance bets. Some sports where there are only two possible outcomes include the likes of tennis and volleyball which clearly can’t be wagered on with a double chance bet. Whilst ties occasionally occur in sports like American football, you would be advised against using a double chance bet on these sports as your odds would be reduced and the chances of a tie are very slight.
Similarly, if there is a sport with more than three potential outcomes, then your double chance bet won’t work here. Many racing sports like horse racing, greyhound racing and Formula 1 motor racing can have many potential outcomes, and so you will have to try some alternative bets like each-way bets for adding some wagering insurance for these sports.
PREMIER LEAGUE DOUBLE CHANCE BET – A QUICK EXAMPLE
Whilst the double chance bet is remarkably easy to put into action, we thought that we should give you a brief example of how double chance betting could work in a Premier League match.
Let’s say that you are betting on a Merseyside Premier League derby match between Liverpool and Arsenal. It’s a home match for Liverpool at Anfield, and so you would have three kinds of bets that you could take with a double chance betting strategy.
The first option would be to back the home team, Liverpool, to win or draw. Secondly you could back the away team, Everton, to draw or win. Or if you want to try something different, then you could bet on either Liverpool or Everton to win, with a draw meaning that you would lose your bets.
CHOOSING YOUR BETTING STRATEGY – BEST OPTIONS
There are many reasons for taking a double chance bet, and it is one of the most overlooked betting types out there. But in order to get you better acquainted with this sports bet, we thought that we should give you a few tips for when you should try a double chance bet.
GREAT BET TO TRY WHEN BACKING THE UNDERDOG
Using a double chance bet when there are two evenly matched teams can often be a fairly pointless exercise as the reduced odds will mean that you stand to get little in the way of returns on your wager. But if you were wagering on a lowly ranked team like Southampton to take on the likes of a top side such as Manchester City, then a double chance bet could be a good option. Whilst Southampton’s chances of a win would be very unlikely, the fact that their odds could be undervalued means that you can try a win-draw double bet and get some decent value on Southampton’s chance of at least getting a point from this tricky encounter.
GOOD OPTION FOR COMPETITIVE LOCAL DERBIES
We have often seen how fiercely competitive local derbies seem to provide plenty of unpredictable outcomes. Sometimes it seems that both teams will do anything to break the deadlock and deliver a winning result. As such, it could sometimes be a good idea to try a win-win double bet on this kind of encounter as the teams will be going all out to try and humiliate their local rivals. Whilst the chances of a draw are always possible, it’s clear that just about anything could happen when a tough local derby takes place.
NERVOUS ABOUT THE OPPONENTS? TRY A DOUBLE CHANCE BET
There’s no such thing as a surefire bet in the sports betting world. Even if you are backing a Premier League team in the FA Cup against a side from the lower leagues, there’s always the chance of upset. So if you have that gut feeling that things might not go your way, then see how a double chance bet can give you a decent amount of insurance.
DON’T FORGET TO USE A BETTING ODDS CALCULATOR
For some double chance bets, it can be tricky to work out whether this betting type truly offers you decent value for money. This is why we’d recommend using a betting odds calculator as it should be able to quickly show you just how much you get in the way of returns for your betting stake. Then you just have to figure out whether you should place a double chance bet, or keep it simpler with a standard match winner bet.
Looking for more betting guides? Maybe you need the four fold bet explained? We can also steer you in the right direction when it comes to gambling winnings tax.