Double Chance betting is a type of sports betting strategy that reduces potential profit but increases the likelihood of winning. It is most popular for soccer betting, but is applicable to all sports with three possible outcomes: home win, draw or away win. Sports gambling has continued to advance all around the world, and so too have punters’ general betting needs and tastes. Sports bookmakers are continually upgrading their offerings, trying to cater to the ever-dynamic needs of their clientele. Consequently, the variety of betting markets on offer is always on the increase. A few decades ago, people typically only bet to pick the winner of a match. In modern times, in addition to Double Chance, bookies have to offer a myriad of other options. These include Total Goals, Correct Score, Handicaps, Both Teams To Score, and many more. To have any hope of competing in today’s market, a bookmaker has to vary its offerings as much as possible. In the same vein, serious punters who want to make a real profit from sports betting, have to diversify their play with as many bet types as they can.
What’s Double Chance Betting?
In a normal win-draw-win betting scenario, each option provides the punter a 33.33% chance of winning. They can either back the Home team, a draw, or the Away team. Picking the winner is hard enough, but the possibility of the match ending in a draw complicates things even further. A 33.33% chance is not that good, and it is consequently very difficult to have good Returns on Investment from focusing on 1×2 betting entirely. This is where Double Chance betting comes in. It allows the punter to cover two outcomes out of the possible three. This market is most popular in soccer betting, so let’s look at a soccer example.
Manchester United vs Liverpool – 1X2
|Manchester United (1)||Draw (X)||Liverpool (2)|
Manchester United vs Liverpool – Double Chance
|Manchester United (1X)||12||Liverpool (2X)|
As can be seen in the second table, picking 1X would result in a win if Manchester United won the game or drew. Similarly, 2X would win if Liverpool won or drew. Picking 12 would win if either of the teams won but lost if the match ended in a draw. The effect of Double Chance is that, rather than just 33.33%, the chances of winning are increased to 66.6%. Whichever wager the punter chooses, they would always be covered for two outcomes rather than just one!
Why Go With Double Chance?
A Double Chance bet has multiple advantages over the traditional moneyline wager:
1. Better Win Probability
This is easy to see as explained above. Since a Double Chance bet covers two outcomes at all times, it is easier to win this bet compared to 1X2. This of course means that the potential profit is also lower, but professional punters won’t mind that. For them, it is better to have smaller, consistent wins than risk money trying to win big.
2. Double Chance Reduced Risk
The bet covers two outcomes, which means one is far less likely to lose a Double Chance bet than a 1X2. By how much? Exactly 33.33%. Technically, the punter’s favorite team does not have to win the match, and they’re good as long as they avoid defeat.
3. Better Value For Underdog Picks
With this bet, it is safer to back the underdog while still getting good value in a bet. While the perceived weak team may not ultimately win over the favorites, they may battle their way to a draw. Or, on a good day, they may actually win. The odds for an underdog win are obviously higher in a 1X2 betting scenario. But then, with Double Chance, the draw option is also covered, meaning less risk while still potentially reaping significant profit.