Double Chance Betting Strategy Explained

Posted by Joe Solari on Saturday,September 3, 2016 11:04, EST in

The simplicity and wide application of the double chance betting strategy has made it one of the most commonly used wagering options today, particularly in the world of soccer betting. As suggested by the name, a double chance bet allows you double your chances at winning. Below, we will cover the basics behind this betting strategy and how you can use it to increase your online sports betting earnings.

A Closer Look At The Double Chance Betting Strategy Explained

 

 

In most betting markets, we usually have three possible outcomes—home win, draw and away win. In double chance betting, these options are reduced into a combination of two possibilities, as follows:

  • Home Win or Draw – Denoted as 1x
  • Draw or Away Win – Denoted as x2
  • Home Win or Away Win – Denoted as 12

Based on the nature of the game, we can sometimes have just two of these combinations, 1x and x2, with 12 option being ignored. For all the combinations, though, you get the advantage of not just being tied down to one pick (like home win only or draw only), as a single price offers you a double chance to cash in with varying combinations of a win and a draw.

Application of Double Chance Betting Strategy

The biggest advantage that comes with double chance betting is that it allows you to decrease your risk or rather cover your bases when you are not sure about one outcome. For example, if you are torn between the possibility of an away win or a draw, the double chance offers you a chance with to cover your base for both outcomes with the x2 option. This means that you’d win such a bet if the away team wins the game or the game ends in a draw, with the only option leading to a loss being a victory for the home team.

Many bettors love to use the double chance option when online betting on strong underdogs and iffy games with competitors that are nearly identical in strength. In other words, the double chance offers you a smart way to “lay” your bets in a more professional way, without having to go through the betting exchanges. For example, a “Draw or Away Win” bet is more-or-less the same thing as laying a bet on the home team. You can read our back and lay betting strategy section to get a deeper understanding of what we mean here.

As a downside, though, combining two of the three possible outcomes usually means that the odds offered to you in the double chance betting options will be naturally lower than in a single straight bet for a home win, draw, and away win. The rationale here is that you have increased your chances of winning in a doubled way, so the odds offered to you by the bookmaker must equally represent that increased edge you get over your bookie.

 

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But even with the decreased odds, you still stand a great chance of capitalizing on this strategy and reaping bountifully from it. For example, you can use the double chance betting strategy as a means of decreasing risks when you want to bet on a large amount of money. Also, if you are a fan of multi bets or parlay bets, the cumulative amount of money you stand to make from combining several bets in a single ticket (plus the accumulator bonuses that come with it) will certainly help in making up for the risk of the bet. It is also perfect for parlays, where the cumulative odds will more than make up for what the low odds. So, in short, your chance at profiting from the double chance betting strategy all comes down to how you tailor it to suit your varied sports betting needs.