Double Chance is one of a myriad of betting strategies used in modern sports gambling. It is a betting market that has both advantages and disadvantages, and we’ll be looking to uncover both sides in this article. The gambling industry, especially sports betting, is ever evolving and expanding. In its infancy, sports betting was all about the moneyline. A moneyline bet is where the punter simply predicts the team or player to win a match or game. For some sports, the moneyline market has only two options – home win or away win. In sports like soccer, there’s also a Draw as a third possible outcome. In that case, a moneyline bet is also referred to as a 1X2 bet. 1X2 has a high profit potential in betting. But as every experienced punter knows, the higher the potential returns, the harder it is to predict such betting outcomes. That’s where betting markets such as Double Chance come in. Punters who wish to maintain a steady income from sports betting need strategies like Double Chance to minimize the likelihood of suffering losses.
Double Chance Betting
In a classic 1X2 scenario, a punter has a precisely 33.33% chance of winning a bet. That’s because there are three possible outcomes: HOME WIN, DRAW or AWAY WIN. The outcomes are denoted 1, X, and 2, respectively. A 33.33% chance is not the worst thing, but it’s also not great. To consistently win moneyline bets, one needs extensive knowledge of the sport, of current team/player form and statistics. A fair bit of luck is also of the essence. Double chance is exactly as the term implies. Rather than the 1/3 chance that 1X2 gives, double chance provides a 1/2 chance. That means a 50% possibility of winning a bet, as opposed to 33.33% with the moneyline bet. Let’s see exactly how that works.
How Does It Work?
A moneyline bet, as seen above, has three possible outcomes. That’s the Home win (1), Draw (X) or Away win (2). A double chance bet improves one’s chances of winning by cutting down the outcomes from three to two. Just like in the 1X2 scenario, the bet options are still three. The key difference is that each double chance selection covers TWO match outcomes instead of just one. Let’s use a soccer example for illustration. The odds for the game between Manchester City and Chelsea in the 2021 UEFA Champions League final might look as follows:
MAN CITY (1)
MAN CITY (1X)
The first example shows a moneyline scenario, and the second one a double chance scenario. The bet options for the latter are:
1X means Home win OR Draw. In the above case, if Man City wins the game or if the game ends in a draw, the bet wins with odds of 1.40. The bet is only lost if Chelsea wins.
12 means either Home OR Away win. If either Man City or Chelsea wins the game, the bet wins with odds of 1.80. The bet is only lost if the game ends in a draw.
X2 means Draw OR Away win. If Chelsea wins the game or it ends in a draw, the bet wins with odds of 1.75. The bet is only lost if Man City wins.
When Best To Use Double Chance
This betting strategy is best applied in the following scenarios:
In a highly unpredictable game. In such a match, using the double chance enables the punter to cover more bases than using the 1X2.
For risk-averse betting. If the goal is to ensure a steady stream of income by minimizing the likelihood of losses, then this strategy can prove very handy. It provides a tantalizing, 50% chance of winning any bet
For punters with inadequate sport knowledge. A punter who doesn’t know the sport inside out can benefit greatly from having a 50% probability of winning as compared to just the usual 33.33%.