When bettors wish to find good value without exposing themselves to high risk, they might be keen on double chance betting. But what should you know about it besides the fact that it is a popular selection for single and parlay bets?
Turns out, a double chance bet can offer insurance against last-minute upsets, miracle goals or outcomes that were unlikely to happen. In this guide, we’ll explain what exactly the double chance in betting is, how it works and break down its pros and cons!
What is Double Chance Betting?
The most popular double chance bet is used to bet on the outcome of the game.
Let’s use an example when a bettor picks the Home team to win. This is a straightforward option. Yet, even such a simple selection carries significant risk. Even small mistakes from the players or last-second heroics from opponents can jeopardise chances of winning the bet or worse – force the bet to lose. This is where double chance comes into the picture.
In events with 3 possible outcomes, a double chance allows bettors to combine 2 outcomes into a single bet.
Generally, double chance is very valuable when a clear favourite might be hard to determine or whenever an underdog might have even the slightest opportunity of an upset. While the odds for a double chance are lower than when betting on a single outcome, the risk is lower as well.
Examples of double chance bets
- 1X (Home win or draw)
- 2X (Away win or draw)
- 12 (Home or away win)
This bet is a much more flexible pick, providing insurance in competitive or hard-to-predict matches.
So, now you know the double chance meaning in betting and what is a double chance, exactly. With this knowledge, every bettor can make better decisions both short and long-term.
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How Does Double Chance Betting Work?
Since you are aware of what double chance means in betting, it’s time to shift your attention to how it actually works. In order for a double chance bet to be available, it has to be a sporting event with 3 possible outcomes. A good example of this is football, where you can have wins by both teams or a draw. When a bettor finds their preferred choice, they can lock in that double chance pick and place the bet.
The odds are shorter for this pick because they cover not one but two outcomes. This is merely because there is a higher mathematical probability of you winning the bet. There are plenty of scenarios where these bets could be considered solid value picks.
Example of a double chance bet.
Let’s say that there’s a hypothetical Premier League game where Chelsea are playing Manchester United at Old Trafford. Both teams seem very evenly matched, but you think that “Red Devils” have the slightest of edges due to home pitch advantage. In this case, betting outright might not be wise. You can place 1X double chance bet instead. This means that your wager would win whether Man United win or draw with Chelsea. In the end, it works by mitigating risk while still offering solid returns.
Specifics of Double Chance Betting
Let’s focus on the specific details of these bets.
- Lower mathematical risk, compared to other similar bets
- Offers some protection from risk when placing bets on underdogs
- A popular choice for bets where no side has a clear advantage
- Averses unnecessary risk
Generally said, these bets are safer than handicaps or outright winner picks. When wagering on a double chance, bettors retain a high level of flexibility with both home or away double chance.
Some bettors often confuse what is double chance in betting by mixing it up with 1×2 betting. In 1×2 betting, you must pick a single outcome, such as a home win (1), away win (2), or draw (X). This doesn’t cover the possibility of a second ending. The odds for this are higher than double chance betting, but so is the risk.
Risks of Double Chance Betting
It must also be said that no bet is perfect, and there is always some risk involved in the selection. The list of disadvantages for double chance bets mainly consists of 2 items:
- Lower odds because of reduced risk
- Not as profitable as other similar bets (Asian Handicap or Draw No Bet)
Although a double chance bet is less risky than some alternatives, it must be said that this stake is also less profitable than those selections mentioned above and still cannot offer a 100 % guarantee to hit.
Regardless of these cons, when the double chance meaning is clear to the bettors, they can make more informed decisions.
When to Use Double Chance Betting
Betting experts recommend focusing on 3 primary scenarios for using double chance betting.
Tightly contested matchups
Whenever there are teams who are very evenly matched, predicting an outright winner is both tricky and risky. Opting for a double chance bet (1X, 2X or 12) gives a “cushion”, protecting against unexpected last-second heroics or frantic turn of events.
When there’s a chance of unexpected draws
Whenever a bettor feels greater chances for the underdog or a weakened form from the favourites, it can be wise to choose a double chance bet. An unexpected draw is more likely in such a situation, hence, betting via double chance can be safer.
On teams who are prone to draw frequently
The old cliche makes us believe that teams play just to win. However, most leagues have those teams who just have a tendency to finish matches in draws. The 2023-24 Premier League’s Brighton & Hove Albion was among the teams with the most draws. Many of their matches ended in both teams splitting a point. Bettors who favoured a double chance could’ve had more success with 23-24 Brighton & Hove Albion.
FAQ
What Happens if the Match Goes Into Extra Time?
A double chance bet applies to regular time (90 minutes + injury time). If a match goes into extra time, the double chance bet is settled according to the score at the end of regulation. What happens in extra time has no impact on the outcome.
Can You Place Double Chance Bets in Play?
Yes, 7bet does offer the chance to place double chance bets on live action – in play betting. Keep in mind that odds change in accordance with what happens in the game, so always be swift in your decision-making.
Can I Use Double Chance Betting for Accumulators?
Yes, it is possible to include a double chance selection in an accumulator (parlay bet). Including them helps maintain a reasonable balance between risk and reward as these bets are often considered lower risk.
Get Familiar With Double Chance Bets Before Wagering
To sum up, double chance betting has its place amongst the Asian Handicap and even 1×2 bets. It is a lower-risk, lower-reward option for more conservative bettors. Most often, it’s used when backing the underdog or in the likeliness of at least a small upset. In the current betting market, double chance stakes have become popular choices for both experienced, knowledgeable bettors and novices. Understanding key concepts like wagering requirements can further help bettors make informed decisions.
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