There’s a razor-thin line between a win and a loss in sports betting. Often, a last-minute goal or a rally in a team’s defence can easily turn a winning ticket into a losing one. Such near-miss situations can be highly frustrating for betting enthusiasts.
The solution that has emerged within the sports betting scene to solve this problem is the “double chance” market. This market is a game-changer that provides a safety net for bettors’ wagers and increases their chances of snagging a payout.
This article explores the double chance bet type, how it works, and why it increases bettors’ winning chances.
What is Double Chance Betting?
In most sporting events, especially football, there are three possible outcomes: a home win, an away win, or a draw. This covers the popular 1X2 market, which offers bettors 33% winning chances. With this, you only win if your predicted outcome occurs.
The emergence of the double chance market completely changed the game. Instead of individual results, the double chance bet allows you to combine two of the three possible outcomes in a single wager. As such, you win the bet if either of the two chosen outcomes occurs, resulting in a 66.67% winning chance. Double chance bets provide three options that bettors can choose from, including:
- 1X – Home win or Draw
- 2X – Away win or Draw
- 1X – Home win or Away win
Due to the nature of the sport, double chance bets only apply to football, handball, rugby, and other sports where draws happen often. It doesn’t work with Cricket live betting online and many other sports where draws are not common.
How Double Chance Betting Works: Practical Example
Let’s say there’s an upcoming EPL matchup between Arsenal and Liverpool. The table below shows what a bookmaker’s double chance market will look like for the game.
| 1X | 12 | X2 | |
| Liverpool vs. Arsenal | 2.10 | 1.31 | 1.14 |
In this market, you will only win the “1X” bet (i.e., home win or draw) @ 2.10 odds if Liverpool wins or the game ends in a draw. If Arsenal wins the match, you lose the bet. Similarly, you can only win the “X2” wager (i.e., away win or draw) @1.14 odds if Arsenal wins or there’s a tie. You will lose the bet if Liverpool wins. Conversely, the “12” (home or away win) wager @ 1.31 odds will only win if either team wins the matchup. If the game ends in a tie, you lose the bet.
Advantages of Double Chance Betting: Why the Market Increases Your Winning Chances
The biggest advantage of the double chance betting market is that it reduces risk and improves players’ chances of winning. By covering two out of three possible outcomes, the wager lowers the chances of losing significantly.
Another advantage of the wager is that it is ideal for matchups with opposing teams that are evenly matched. With such games, the outcome can be hard to predict. Both teams can win, and the game can also end in a draw. Double chance bets factor in that uncertainty and allow you to choose the two best possible predictions.
The market is also simple and beginner-friendly, and great for accumulators. By adding multiple double-chance bets to your parlay, you can stabilize your ticket and reduce the chances of one unexpected result ruining your entire wager.
Downside of Double Chance Betting
While there’s no denying the benefits of the double chance market, it’s essential to also know it has its fair share of downsides. The most notable disadvantage is that it comes with pretty small odds. This is not surprising, as the standard rule of sports betting is that the higher the chances of a bet, the lower the odds price offered. So, whether you are betting on the home/draw, away/draw or home/away, the odds attached are usually lower compared to direct outcome wagers.
Conclusion
Double chance betting is an excellent market that helps bettors increase their chances of winning when wagering on their favourite sports or games. By covering two out of three possible outcomes, it provides a balanced approach to sports betting, which helps ensure lower risk and potentially consistent returns.
The only downside is that it comes with lower odds prices and, by extension, reduced payout compared to other markets. However, with proper research, analysis, and bankroll management, double chance betting can play a key role as a smart betting strategy to help achieve success, as highlighted by wendyreicher.
