When there is no outright favorite in a match event, there are various other ways you can insure your bet. In those situations, double chance is one of the best types of bets to consider. If you have tried sports betting, you probably came across the term “double chance”, but do you what it means? Or how it can be used to your advantage in a wager? Continue reading to get a comprehensive understanding of double chance.
Double Chance Meaning
Double chance is a bet that combines two out of the three possible outcomes within a single bet. The betting option is a derivative of the three primary outcomes of a sports event- 1X2. With double chance, you are provided with two chances to win a bet. Double chance increases the probability of a prediction and thus giving you a higher chance of winning from a single event.
Bookmakers provide the double chance option primarily for football and hockey events. Online bookies present the double chance bet options as shown below:
- 1X: You will win the bet if the home team gets a win or a draw outcome in the sports event.
- X2: You will win the bet if the away team gets a win or a draw outcome in the sports event.
- 12: You will win the bet if either team gets a winning outcome from the sports event.
Real Madrid v Liverpool. If you select Real Madrid/Draw double chance, then a Real Madrid victory or draw will give you a win. If Liverpool wins, you will lose the bet.
When to Use the Double Chance Bet
How can you use the double chance bet effectively? Since double chance odds are usually lower than standard bet odds, you should only use it when necessary. A double chance bet option is advisable if you have narrowed it down to two outcomes but are unsure of the outcome you should go with. When wagering on a sports event involving two closely matched teams, this bet option comes in handy. You can also consider the double chance bet when you want to risk your stake on an underdog because it will lower the risk of losing the bet.
You can also use double chance in live bets. If the favorite team is trailing in a live sports event, its winning odds become higher than the initial odds. Therefore, you can use the double chance if you anticipate the stronger team to complete a comeback and win the match. By using double chance, you stand a chance of winning a high payout if you are lucky and still remain shielded from the high risk.
Advantages and Disadvantages of Double Chance
The main advantage of using the double chance bet option is that it reduces the risk of losing a bet. Therefore, other than providing insurance to your stake, double chance lets you wager on lucrative bets that would otherwise be risky. Thus, if used efficiently, you can earn a big payout if you are lucky.
The only disadvantage of betting on a double chance is that it reduces your winning odds. The lower odd values counter the increased likelihood of winning. Therefore, a double chance bet will reduce your winning margin unless used appropriately. Besides, although the probability of winning increases, you can still lose the bet altogether.
Although it does not guarantee a 100% chance of winning, a double chance bet is still an efficient insurance tool for punters if used appropriately. It would be best to consider using the double chance option on wagers that are difficult to predict an outright winner. Using double chance on sure bets is not advisable.