Double chance betting is exactly what it sounds like. It is a type of bet where you stake your money on two possible outcomes in a game, most commonly soccer. This effectively raises your chance of hitting a winning outcome by eliminating one losing outcome.
Let’s see what double chance betting is, how it works, and whether it’s the right strategy for you.
Double Chance Betting Definition
If you bet double chance, you combine two outcomes into a single bet. If either of the two outcomes goes down, you win your bet.
US sportsbooks mainly offer double chance odds on soccer games. This is due to the nature of the games, where one of three main outcomes is possible. This is in contrast to sports like basketball and hockey, where the game’s rules eliminate the possibility of a tie.
Double Chance vs Moneyline Bets
(Blue circle: moneyline odds; Red circle (double chance odds)
A moneyline is the most basic of sports bets. It involves predicting the winner of a game. But what if a tie is also possible? This is known as a three-way moneyline, with an extra bet (tie) as a possible outcome.
Whereas in moneyline betting you simply bet on a team to win, with double chance, you put in an extra outcome: a tie or the opposing team to win. This creates a single bet with two winning outcomes out of three possible.
How Double Chance Betting Works
Betting sites mainly offer double-chance odds on soccer because of the three-way moneyline: draw, home team to win, and away team to win.
Log into your betting account and open any soccer game. Look for the tab or menu of alternative markets to see if double-chance bets are available. If they are, select the option and see the odds.
Select one game or combine multiple legs into a parlay. Based on the team’s form, consider closely the two most likely outcomes of the match. Bet on whether you want the home team to draw or win, the away team to draw or win, or either side to win. That’s all there is to it.
Types of Double Chance Bets
There are three types of double-chance bets:
- 1X (Home/Draw) – This double-chance bet wins if the home team wins the game outright or if the game ends in a draw.
- X2 (Draw/Away) – The bet wins if the game ties or the away team is the winner.
- 12 (Home/Away) – This type of double-chance bet pays out if either team wins the game. The bet mustn’t end in a draw.
Examples of Double Chance Bets
Let’s take an imagined soccer game between Team A and Team B, where there is no pronounced difference in quality between the teams, even if Team A is the slight favorite with -111 odds. Team B has odds of +220, and the odds for a tie are +250.
In this scenario, the Home/Draw odds will be approximately -400, Draw/Away -130, and Home/Away -500. The Draw/Away outcomes offer the most favorable odds, provided the away team is the underdog, and the home team is expected to win, albeit not being an absolute underdog.
For example, if you bet $100 on Draw/Away, the total payout would be $171, with an approximate profit of $71.
Benefits and Drawbacks
Double-chance bets are appealing, but there are a few caveats to consider.
Pros
- Easy-to-understand
- There’s a little over 66% chance of winning
- Suitable for low-deposit bettors
- Sportsbooks usually allow you to combine multiple DC bets into a parlay
- Considerably reduce the risk of losing
Cons
- Unsuitable for single betting unless you place a larger bet
- Double-chance odds are primarily available for soccer
- Unsuitable or unavailable for strong favorites
Double Chance Betting Strategies
Double chance bets can be used as a reduced-risk betting tactic. It is advisable to select two or more legs and combine them into a single parlay bet to generate longer cumulative odds and place a smaller bet. However, simple logic predicates that the more legs you add, the higher the risk, which is contradictory considering double chance bets are relatively low-risk.
Do research on each team and check and analyze their form closely. Even underdogs can create upsets, and favorites do not always win. As a final tip, we suggest you avoid the bettor’s fallacy: the mistaken idea that an outcome is more or less possible based on a team’s previous results and match outcomes. For instance, when you assume Team A will win or draw because it has lost 4 consecutive games.
