Placing a double chance bet offers two potential outcomes for the outlay of just one bet. The bet covers either the home team (or player) to win or draw (1X), the away team (or player) to win or draw (2X), or for either team (or players) to win the match.
So, what is double chance in betting, and how can it be used? We’ll take a comprehensive look at this form of betting, including the different markets on offer, the best sports it works best with, and some handy tips.
What is a Double Chance Bet?
Overall, betting double chance is one of the lower risk bets to place, and it is available in several popular sports, including soccer. Simply put, it is a two-in-one bet, and essentially reduces your chance of losing. However, there is more to double chance betting than meets the eye, and understanding how it works is essential.
It entails wagering on two out of three possible outcomes in a sports match. The three possible outcomes and betting options include the following:
- Home team (or player) wins or draws.
- Away team wins or draws.
- Home team wins or away team wins.
Interestingly, betting double chance gives meaning to the phrase ‘hedging your bets’ because you pick two possible outcomes instead of one. Notably, this helps reduce the risk of losing by 1/3 because one of the two chosen outcomes may come true.
What are Examples of a Double Chance Bet?
Consider a match between AC Milan and Newcastle in the Champions League, with AC Milan being the home team and Newcastle the away team:
- 1X: AC Milan Win or Draw – The bet wins if AC Milan win or draw against Newcastle, meaning that you lose if Newcastle win.
- X2: Newcastle Win or Draw – The bet wins if Newcastle win or draw against AC Milan, meaning that you lose if Arsenal wins.
- 12: AC Milan or Newcastle Win – The bet wins if either AC Milan or Newcastle win, meaning that you lose if they draw.
Double chance betting is that simple and straightforward and it works the same for all other compatible sports events.
Types of Double Chance Bets
By now we should have hopefully answered the question: what does double chance mean in betting? And now that you understand the double chance betting meaning, you are ready to dive deeper into its types and their rules. Overall, three-way bets come in three types based on a match’s three possible outcomes:
Double Chance 1X Meaning
A double chance 1X bet is a wager on a home team win or a draw – ‘1’ represents a home team win and ‘X’ represents a draw. This double chance wager is recommended if you think that the home team will win because of their home-ground advantage. If true, then the worst that could happen is a draw (instead of an away team win), which is also covered in the double chance 1X bet.
Double Chance X2 Meaning
A double chance X2 bet is the opposite of a X1 bet. It is a wager on a win for the away team or a draw – ‘2’ represents the away team. It is recommended if the teams are evenly matched, with the away team being strong enough to manage a win on the home team’s turf. Interestingly, the double chance 12 bet is the best alternative for a X2 bet, considering that the home team could still leverage its home-ground advantage to win.
Double Chance 12 Meaning
Finally, a double chance 12 bet is a wager on either of the teams winning. It is especially recommended if both teams are unevenly matched, which reduces the likelihood of a draw. Interestingly, this is the most popular three-way bet type.
Avoiding a draw is essential when making a double chance 12 bet. To try and achieve this there is a Double Chance 12 strategy using live betting you can use to hedge your bets. It works as follows:
- First place a double chance 12 bet in between the kick-off whistle and opening of the score.
- Next, wait for the draw factor to increase and then bet on the draw.
Overall, you will still win regardless of either bet’s outcome. However, you must calculate the wagering amounts so that a winning bet payout exceeds the loss whatever the outcome.
Say, for example, you have a budget of $200 and you place $160 on the 12 bet with odds of 1.34.
If then one team scores, and the X odds rise to 5.6, you can wager $40 on the X bet to cover all options.
If one team wins you will win $160 x 1.34 = $214.40.
If the result is a draw you will win $40 x 5.6 = $224.00
For a $200 spend you will then make a profit whatever the outcome of the match as long as you have calculated the odds correctly. The best live sports betting apps give hundreds of live betting options for sports bettors to enjoy.
How is a Double Chance Bet Calculated?
A double chance wager is easy to calculate. Consider another example based on a Premier League match between Chelsea and Arsenal. Now assume the following odds for the match’s three double chance betting outcomes:
- Chelsea wins or draws (1X): 1.50
- Arsenal wins or draws (X2): 1.75
- Arsenal or Chelsea wins (12): 1.2
Double chance betting calculations are based on the betting options’ odds and your wagering amount. The formula is simple:
Odds X Wager Amount = Payout
Now, supposing that you wager $100 on any of the options, your payouts would be as follows:
- Chelsea wins or draw: 1.50 X $100 = $150
- Arsenal wins or draw: 1.75 X $100 = $175
- Arsenal or Chelsea wins: 1.2 X $100 – $120
The calculations are simple enough to do in your head. Alternatively, you can also use online betting calculators if the math proves complex.
Additionally, calculating your chance of winning and risk of losing is also easy. The formula is simple:
100% ÷ Number of Betting Options
Betting double chance offers three betting options. To this end, each betting option has a 33.3% likelihood of happening (100% ÷ 3). To this end, betting on two outcomes gives you a 66.6% chance of winning and 33.3% risk of losing.
Most Popular Sports for Double Chance Betting
Online sports betting online is growing at an incredible pace with experts predicting that the global sports betting market is expected to be valued at $155.49 billion by 2024. With more sports betting markets becoming available all the time, it’s a good idea to get familiar with double chance betting – a market that is available for sports where matches satisfy the following two requirements:
- A draw is highly likely since two of the betting options (1X and X2) include a draw.
- Only two teams or individuals compete in the match, considering that there must be one winner and one loser.
Betting double chance is especially popular in soccer betting, which satisfies all of its rules. You can place all types of soccer bets at the best soccer betting apps. Other popular sports categories for a double chance wager include hockey, tennis, cricket, and rugby.
What is a Good Strategy for Double Chance Betting?
Double chance betting strategies vary and are usually personalized to suit a player’s preferences. Here are five betting tips for double chance wagering to get you started on developing your strategy:
- Research & Analyze Your Betting Markets – Research the teams’ formations, league positions, playing locations, and individual players’ talent levels. Also compare the team’s histories, including wins, losses, and head-to-head performances.
- Use Accumulator Bets to Boost Your Odds – Double chance betting markets usually have low odds, but you can boost the odds and payouts by placing accumulator bets.
- Claim Bonus Offers – You can boost your bankroll by claiming bonus offers. Many sportsbooks offer bonuses to new bettors and existing players.
- Manage Your Bankroll – Betting is risky, meaning you can potentially wipe out your bankroll if you incur big losses. As such, proper bankroll management is necessary – it primarily entails wagering manageable amounts (never more than you can afford to lose).
- Choose a Reliable Sportsbook – Your overall betting experience primarily depends on your sportsbook’s quality and the features it offers. Ideally, a good-quality sportsbook, such as those on our best offshore sportsbooks list, should offer the following features:
- Broad sports betting markets
- Flexible payment options
- Good odds
- Impenetrable cybersecurity solutions
- Neat user interface and layout
- Player-friendly privacy policy
- Professional web design
- Resourceful customer support solutions
Other premium features include live (in-play) betting and live streaming. Most importantly, the sportsbook should be licensed and regulated to guarantee fair gaming.
What are the Pros & Cons of Double Chance Betting?
Double chance in betting has advantages and disadvantages such as simplicity and lower risks, but also lower odds, which is why it helps to use the sharpest sportsbooks. Here is an overview of the pros and cons:
Pros:
- Simplicity
- Lower Risks
- Insurance – good when backing underdogs
- Many Betting Opportunities
Cons:
- Lower odds
