WhichBookie racing analyst Andrew Blair White provides a preview and betting tips for races at Lingfield on Friday 21st January.
Over the past couple of years, we’ve seen an increase in the number of markets offered by online bookmakers. Customers now have the choice of 100-200 different betting markets for some football matches and a large number for other sports also. One market that is particularly popular with football punters is Double Chance.
If you’re asking yourself, ‘what does double chance mean in betting?’ It’s a bet that allows you to cover two possible outcomes. It applies to sports where there are three outcomes such as football where either the home team can win, the away team can win or the match can end in a draw. They can also apply to other sports with three outcomes such as Rugby and American Football but as the chance of a draw in these sports is relatively low, Double Chance bets are rarely used.
Here is an example:
Let’s say that Man Utd were playing Liverpool.
With the standard match result market, you could back:
With a Double Chance bet, you could back:
As you can see, you are covering two of the three possible outcomes, giving you a better chance of a return.
The main advantage is that you are increasing your chances of seeing a return as you are covering more outcomes. Instead of your bet winning if one of the three outcomes happens, your bet will win if just one of the two you backed happens.
The only disadvantage is that you will receive lower odds compared to if you were to back just one outcome ie. a team to win or the match ending in a draw. This is because you are covering more outcomes and therefore have a greater chance of a return.
In order to determine whether or not this type of bet has value, you must look at the individual odds for each of the outcomes you are backing and decide whether or not there is better value to be had by placing two separate bets or one Double Chance bet.
For example, would you receive greater returns if you placed a single bet on Man Utd to win and a single bet on the draw compared to placing a Double Bet on Man Utd & the draw?
Let’s take a look at the example below where Real Madrid are playing Manchester City. The odds are from Bet365 and show the match result market as well as the Double Chance market.
Let’s say that we wanted to back Real Madrid & the Draw with a total stake of £100.
Betting on Double Chance
Betting on individual outcomes
We want to use the same overall stake covering the two outcomes and ensure that the returns are the same no matter which outcome occurs. To determine the ideal stakes to use, we can use a dutching calculator.
Real Madrid to win
In this instance, it would be better value to back the individual outcomes. However, this is not always the case and you can find instances where backing the Double Chance will result in a higher overall return.
If you are looking for maximum value, you should determine whether it is better to place a Double Chance bet or two individual bets on the outcomes.
Providing the Double Chance bet returns more than betting on the two individual outcomes, what criteria would you use to select a football match to place your bet?
Most people opt for a Double Chance bet when a team may be difficult to beat but are unlikely to win the match. For example, let’s say that Arsenal play with an attacking style and Newcastle play very defensively and lack goals. You may wish to back Arsenal as they have the best chance of scoring and winning the game but you’re unsure if they can break Newcastle’s defence. In this case, you may wish to back Arsenal & the Draw with a Double Chance bet.
They can also be useful when betting in-play. Let’s say that a team is winning 1-0 with 10 minutes remaining. The team which is leading are defending well but the other team is attacking and trying to get an equaliser. In this case, you may wish to place a Double Chance bet on the team which is winnings & the Draw. This way, your bet will win if the match ends as it is and also if the other team manages to get a goal back. This is a relatively safe bet as it’s unlikely that the losing team will get two goals and go on to win the match.
Double Chance bets are available at the majority of bookmakers and so you have a large choice of where to place your bets at. Always shop around for the best odds for each bet you place but we recommend Bet365 is you are looking for a bookie which regularly offers the best odds on football. New customers can also receive up to £100 in Bet Credits which is one of the best welcome offers available at any online bookmaker. You can view details of this offer below.
Bet £10 & Get £50 in Free Bets for new customers at bet365. Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. #ad
We also recommend 888Sport who also offer very competitive odds. Customers can often take advantage of sports offers such as free bets and price boosts on various football matches.
Sign up to 888Sport today and you can receive £30 in free bets when registering and placing your first bet of £10 or more.
Min deposit £/€/$10 • A qualifying bet is a ‘real money’ stake of at least £/€/$10 • Min odds 1/2 (1.50) • Free Bets credited upon qualifying bet settlement and expire after 7 days • Free Bet stakes not included in returns • Casino Bonus must be claimed within 7 days • To withdraw bonus/related wins, wager the bonus amount 40 times within 14 days • Casino Bonus expires after 60 days • Withdrawal restrictions, payment methods, country & Full T&C’s apply. 18+ BeGambleAware.org
Double Chance bets are a great option for increasing the chances of receiving a return from your bets. If you are planning on placing themt, always check whether you can get more value by backing the two individual outcomes. You can use a dutching calculator to determine the ideal stakes to use.