Double chance bets are a great way to add some insurance to your soccer betting. They typically come with lower odds than a standard moneyline because they cover two of the three possible match outcomes.
They can be found in any market where matches can end in a draw, including handball, basketball and hockey (after regular time). This bet type offers lowered risk, but at the expense of a reduced return on investment.
What is a double chance bet?
A double chance bet is a unique type of bet that allows bettors to back two possible outcomes of a game in one single wager. It is available for sports that feature home wins, away wins and draws, and it is a popular option for backing underdogs in games where the odds are against them.
The odds for a match with a double chance betting market will usually be lower than those for a three-way moneyline. This is because the sportsbooks are covering two possible outcomes of a match with one single bet, rather than offering three separate moneyline odds. Nevertheless, bettors should note that the odds for a double chance are still not as good as those for a straight bet on either team to win or draw.
To calculate the probability of a team winning a soccer game, the oddsmakers will divide the chances of that outcome by the total number of possible outcomes. These odds are then multiplied by the total number of bets placed on that outcome. This gives the oddsmakers a theoretically fair distribution of odds for the teams competing in a match. However, bettors should remember that the actual distribution of odds will vary from match to match.
For example, in a match between Manchester City and Chelsea, the odds for Man City to win are -223 while those for a draw are +550. This means that bettors who place a double chance wager on Manchester City will win if the game ends with a Manchester City victory or a draw, but they will lose if the game is won by Chelsea.
Another way to increase the odds of winning a bet on a double chance is by parlaying multiple double chances together. This is done by placing a bet on each individual outcome, and then adding the odds of both the individual and double chance bets to get the total odds for the entire parlay.
A final tip for those who want to bet on a double chance is to make sure that they check the terms and conditions of their sportsbook before making this type of bet. Some sportsbooks will only allow players to use their bonus funds on bets that have very low odds, so it is important to be aware of this before placing a bet on a double chance. In addition, some sportsbooks may also limit the number of times that a player can place a double chance bet during a specific period of time. This is usually to avoid a large amount of money being lost on these types of bets. This is a common practice among many sportsbooks.
Advantages of a double chance bet
A double chance bet offers two possible outcomes in a single wager, allowing you to increase your chances of winning while minimizing risk. It’s a popular option for backers of underdogs, as it can protect them from a loss while providing a safety net.
It’s also ideal for matches with evenly matched teams, where a draw is a real possibility. In fact, betting on the 1X double chance is a great way to support a team that you think has a good chance of winning but may struggle to win outright (especially in home matches).
The main disadvantage of this type of bet is that it often comes with lower odds than bets placed on individual outcomes. When you place a double chance bet, the bookmaker sets the odds by adding up the probability of each outcome and then dividing it by the total number of possible outcomes. This means that you can end up paying more than if you bet on the team to win or lose alone.
You can use a double chance bet in combination with other types of bets in a single wager. For example, a double chance on a team to win and a goals over/under bet can make a strong parlay. It’s important to note, however, that a double chance bet is only a valid bet if both teams in the game are playing at full capacity and have a similar level of skill.
Double chance bets are generally available in most soccer leagues, including the English Premier League, La Liga, and Serie A. They’re also common in major international tournaments like the UEFA Champions League.
In addition to double chance bets, some online sportsbooks offer special bet types like Asian Handicap and Over/Under bets. These bets allow you to place a bet on a specific team or event, such as an Asian handicap or a goals over/under. The odds for these bets are determined by a variety of factors, including the strength of each team and their recent form.
In the case of over/under bets, the odds are calculated based on a team’s previous performance in each league and competition. They’re not usually as accurate as other forms of bets, such as moneyline bets, but they can provide a solid estimate of the number of goals in a game. They’re most commonly used in soccer games, but can also be found in other sports.