Home I All Guides I Sports Betting Guides I Strategy I Best Double Chance Sportsbooks
Double Chance betting is a rather new type of sports betting. It is a variation of the traditional moneyline or match winner bets which are placed on one single event to happen. Double chance bets, however, cover multiple events.
Manchester United is playing against Bolton Wanderers.
These are the best odds we could find: Manchester United to win: 1.20 Draw: 6.50 Bolton to win: 12.50
Placing a bet on Manchester United doesn’t seem too exciting. You would only win $20 if you place a $100 bet. That’s not much of a value bet.
If you have a feeling that Bolton might make something happen at the Old Trafford, you might be inclined to place a bet on the draw or a Wanderers victory. That means, you would have to place either one bet or two bets if you want to include both potential outcomes of this match.
Now, here is where double chance betting comes into play. Double chance betting allows you to place a bet on both, a draw and a Bolton Wanderers victory. You are basically betting that the Wanderers are not going to lose against Manchester.
Double chance betting is absolutely perfect if you are going to place bets on an underdog. By doing so you will benefit from both potential upset events as previously mentioned in the example.
The majority of sports bettors decide to go for this betting option if they think that the favorite might not win against a much weaker team. They basically cover two of three potential outcomes of a match with a single bet and receive the same return on a victory or draw.
From the above example, you can derive a general rule for calculating stakes. If we label the total amount of money bettors want to risk with TOTAL, odds for Home Win with HOME and odds for Draw with DRAW, then:
Stake on Home Win = DRAW * TOTAL / (DRAW + HOME)
Stake on Draw = TOTAL – Stake on Home Win
If you want to just compare odds, to get effective decimal odds, you need to divide the return by the stake.
For the example above, the £100 staked returns £130.70 (profit is £30.70), therefore the decimal odds are 130.7/100 = 1.307.
The formula to calculate effective odds can also be worked out from the equations above:
HOME * DRAW * TOTAL / (DRAW + HOME)
Therefore after dividing your return with TOTAL, the odds appear to be:
Effective Odds = DRAW * HOME / (DRAW + HOME)
The equations for the other two Double Chance markets (Draw or Away win and Home win or away win), where AWAY stands for Away Win odds, are as follows:
Stake on Away Win = DRAW * TOTAL / (DRAW + AWAY)
Stake on Draw = TOTAL – Stake on Away Win
Effective Odds = DRAW * AWAY / (DRAW + AWAY)
Stake on Home Win = AWAY * TOTAL / (AWAY + HOME)
Stake on Away Win = TOTAL – Stake on Home Win
Effective Odds = HOME * AWAY / (HOME + AWAY)
Bettors should arm themselves with as much ammunition needed to seek out the best value for their bets. Understanding how to calculate Double Chance stakes and odds on the 1X2 market will allow bettors to work out were the best value lies and give an alternative to betting Double Chance with other bookmakers or an Exchange.
We are confident you will pick Pinnacle.
Sign up with Pinnacle
Complete overview of the best bitcoin bonus offers in 2019. We have reviewed the most reliable BTC betting sites and their sign up offers.
The Betway Free Bet Club rewards players for placing bets. Sign up and spend at least €25 on any trebles in a week and get €10 in free bets.
Nitrogen is one of the oldest and most trusted Bitcoin betting sites. We have reviewed its betting markets and betting odds for you.
Best Tennis Betting Sites 2019 - Our ranking includes low-margin bookies such as Pinnacle, European bookie with great promotions, and more.
£50 Free Bet
4x €5 Free Bets
£30 Free Bet
50% up to €200
£50 Sign Up Bonus
£200 First Deposit Bonus
VIP-bet Tipster Competition
Submit your email and receive our daily freebet offers!
VIP-bet is a new and enthusiastic sports betting community. We provide you with an all-around service including the best sports betting deals, generous promotions, in-depth reviews, betting strategy, sports betting guides, streams and much more.
Our main goal is to equip our members with content and knowledge that allows them to become successful in sports betting. In addition, we also want to keep you entertained.
Make sure to check out our free Tipster Leaderboard and please do not hesitate to contact us if you have any questions or feedback.
© VIP-bet 2018