Two ways to win with Double Chance
Every football punter is familiar with the traditional betting options. The Match Winner market offers you three choices: home win, away win or draw. But the dramatic growth in the popularity of football betting has inspired bookmakers to come up with new ways to bet on the outcome of matches, and one of the most interesting is the Double Chance market.
What is Double Chance?
With a Double Chance market, bookmakers reduce the three familiar betting options on a football match from three to two, offering punters a single price for two outcomes combined. You will find three types of Double Chance bet with most bookmakers: Home Win/Draw, Away Win/Draw, and Home Win/Away Win. Let’s say you want to bet in a match between Bayern Munich and Barcelona. If you back Barcelona Win/Draw you will win if Barcelona wins the game or it ends in a draw, but you will be a loser if Bayern emerge victorious.
How does this type of bet compare to Draw No Bet?
Double Chance betting has some similarities with Draw No Bet. With a Draw No Bet market, you are backing one team to win knowing that your stake will be returned in the event of a draw, so only one of the three possible match outcomes will result in your losing money. With a Double Chance bet, there is likewise only one result that will see you lose your stake, but this type of bet will also ensure that you get a return on both of the other two outcomes.
As well as offering two ways to profit, Double Chance betting is also more flexible than the Draw No Bet market, in which you have to back one team or the other to win. Double Chance markets allow you bet on three different combinations of match result (see above) which gives punters more flexibility and opportunity to profit from their pre-match analysis.
Why are Double Chance odds so low?
Another similarity between Double Chance and Draw No Bet markets is the relatively short odds on offer. While this may appear strange at first glance, it is logical. Remember that betting odds are also an expression of probability. In all betting markets, the odds when added together will total at least 100 percent. If they added up to less than 100 percent, then bookmakers would be making a theoretical loss and would go out of business.
In a Double Chance market, two of the three regular betting options are combined, so their odds are also combined, resulting in a lower price. For example, let’s say that in the normal Match Winners market, Bayern were 2/1 and the draw was 5/2. These odds equate to percentages of 33.33 and 28.57. If you want to bet on the Bayern Win/Draw Double Chance option, the two figures are added together, to produce a total percentage of 61.9 which translates roughly to odds of 4/9. Double Chance punters are therefore choosing to sacrifice some of their return in exchange for a better chance of winning.
Why should I bet on Double Chance?
We’ve already alluded to the flexibility that the Double Chance market offers to football punters. It is particularly useful in situations when you can’t choose between two outcomes to a game. Perhaps you want to back Manchester United away at West Brom, but you have a sneaky feeling that the home side might be able to hold out for a draw. Backing the Away Win/Draw option in the Double Chance market enables you to cover both options.
The Double Chance market can also be a good option for punters who are just finding their way in football betting or for those who prefer a string of regular winners, even at short prices, to the alternative of less frequent but bigger payouts. Psychology plays a huge role in betting and if your psychological makeup predisposes you to take a cautious approach, then the Double Chance market can maximise your chances of landing a morale-boosting winner.
Double Chance Betting Strategies
One of the most common strategies with Double Chance betting is to use it in those games where you are certain that one team will not be able to win or might not necessarily need to win. Perhaps a struggling team is away to a top class side and only need a point to avoid relegation, or maybe the away side in the second leg of a Champions League knock-out game already has a two goal lead and won’t need to take any attacking risks. In those circumstances, you can opt to back Home Win/Draw in the Double Chance market.
Another option is to compare the odds available in the Double Chance market with those in the Match Winner market. In theory, the odds on a Double Chance bet should simply combine the odds of the two relevant options in the Match Winners market. By comparing the two, you can sometimes find discrepancies. For example, if the Match Winners market quotes Bayern at 2/1 and the Draw at 5/2, those odds combined are around 4/9 (see above). But if the Bayern Win/Draw option is available at 1/2 in the Double Chance market, there is a good chance that you’ve found a value bet.
Some punters also rely on Double Chance bets as bankers in their accumulator bets, while others use the Double Chance markets as a complement to betting on Asian Handicaps, although the technicalities of the latter approach are beyond the scope of this article.
Although betting on the Double Chance markets involves taking shorter odds than you will find with traditional Match Winner betting, this type of bet has many advantages. By covering two out of three options in three different combinations, it offers a blend of security and flexibility that many punters find suits their betting style. Double Chance betting is a key component in the strategies of many successful football punters and is well worth investigating if you are looking for alternatives to the traditional football singles markets.