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What is a Double Chance bet?

What is a Double Chance bet?

In recent times, the range of betting options from online bookmakers has significantly expanded. For certain football matches, bettors can explore between 100 to 200 different markets, with numerous choices for other sports as well. Among football enthusiasts, Double Chance bets have particularly gained traction.

What Is A Double Chance Bet?

Curious about the meaning of Double Chance in betting? It's a strategic bet allowing you to cover two of the three potential results in sports like football, where games can end in a home win, an away win, or a draw. While this strategy also applies to sports like Rugby and American Football, the rarity of draws in such games makes Double Chance less common.

Here is an example:

You're contemplating placing a bet on the England vs Iran match in the World Cup.

In a typical game result market, your options to bet on might include:

  1. Man Utd to win
  2. Liverpool to win
  3. The match to end in a draw

With a Double Chance wager, your choices expand to:

  1. Man Utd to win OR Liverpool to win
  2. Backing either Man Utd to win or the game concluding in a draw.
  3. Placing your bet on Liverpool winning or the game ending as a draw.

By opting for two of the three possible outcomes, you enhance your likelihood of a payout.

Advantages

The primary benefit lies in boosting your chances of a successful bet by covering multiple outcomes. Instead of needing a single outcome among three, your bet wins with any of the two results you chose.

Disadvantages

The trade-off is that odds tend to be lower than betting on a single outcome, as wider coverage increases the probability of a return.

Do Double Chance Bets Have Value?

Whether a Double Chance bet holds value depends on analyzing the odds for each outcome you back. Sometimes, betting separately on two outcomes might offer better return compared to a single Double Chance bet.

Consider the hypothetical scenario: Would individual bets on Man Utd to win and a draw yield better than a single Double Chance wager on both?

Let's delve into an example where Real Madrid faces Manchester City. Odds provided by Bet365 offer insights into both the match result and Double Chance markets.

double chance

Suppose you decide to stake £100 backing Real Madrid and a draw.

Betting on Double Chance

  • Double Chance Bet365 Odds: 1.53
  • Stake: £100
  • Returns: £153
  • Profit: £53

Betting on individual outcomes

Aiming for consistent returns regardless of the outcome, you can utilize a dutching calculator to find the ideal stake division.

Real Madrid to win

  • Odds: 2.80
  • Stake: £56.26
  • Returns: £157.50
  • Profit: £101.24 – £43.75 (stake on the draw) = £57.49

The Draw

  • Odds: 3.60
  • Stake: £43.75
  • Returns: £157.50
  • The gain equals £113.75 minus £56.26 (Real Madrid win stake) landing at a total of £57.49

Conclusion

  • In contrast, wagering with Double Chance nets £53
  • Whereas individual bets culminate in £57.49

In this scenario, separate wagers yield better profit, yet there are cases where a Double Chance might surpass in returns.

For optimal value, evaluate whether a Double Chance or individual outcomes bet suits you better.

When should you consider Double Chance wagers?

Opt for Double Chance when it promises better returns than singular outcome bets. What factors guide your choice of matches for such bets?

Bettors typically employ Double Chance on teams resilient yet unlikely winners. Imagine Arsenal's offensive stance paired against Newcastle's sturdy yet defensive play. While Arsenal holds the advantage in goal-making, their breakthrough remains uncertain. Here, Double Chance covering Arsenal and the draw makes strategic sense.

This strategy is also handy during live betting. Suppose a team leads 1-0 with a tight ten minutes left. Though defending stanchly, the opposition aggressively seeks an equalizer. A Double Chance on the leading team and a draw hedges your bets, securing a win should the current score hold or the opposition levels. Given the unlikely odds of two more opposition goals, it’s a largely safe wager.

Top bookmakers for Double Chance betting.

Widespread among bookmakers, Double Chance bets offer ample opportunities. Scout for optimal odds, but Bet365 often shines for competitive football odds. New users can earn up to £100 in Bet Credits, showcasing one of the finest welcome deals online.

New Customer Offer
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Minimum deposit conditions apply. Bet Credits become available upon settlement of valid wagers meeting odds requirements. Exclusions for betting methods and payment choices are in place. Returns exclude stake value of Bet Credits. Registration and other terms apply. Visit GambleAware.org for guidance.

888Sport is another recommendation with lucrative odds. Savvy bettors can leverage various sports promotions, including free bets and enhanced prices on football events.

Joining 888Sport today awards £30 in free bets, activated by the initial £10+ wager.

New Customer Offer
Bet £10 Get £45
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A minimum £10 deposit is needed. Offer is active Wednesday through Sunday. A qualifying wager entails a ‘real money’ stake of £10 or more on horse racing with at least 1/2 odds. Free Bets distribute post-wager placement and expire in 3 days, with horse markets as their sole use. Free Bet stakes are not part of returns. Restrictions address payment, withdrawal methods, and applicable countries. T&Cs apply . #ad

Conclusion

Double Chance bets make excellent choices for amplifying the probability of achieving betting gains. Always consider whether backing outcomes individually holds more value, supported by dutching calculators to find prime stake divisions.

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