As a new punter I was totally mystified when I saw the “Double Chance” offer on my bet365 app. I took a screen shot of it which you can see there on the right. I checked with Sportingbet and they also offer a double chance bet. I figured I wasn’t the only one that didn’t know what a double chance bet was so I did some research on the subject.
Double Chance Bet Explained
The first thing I noticed from the image on the right is that the odds offered on the double chance bet is lower than a straight out bet. This is because taking a double chance bet on a team results in you winning if your team wins or draws. Your team actually has to lose in order for you to lose the bet.
You would probably take the double chance bet if you were going to bet on the underdogs. This could be because they’re offering better odds or because you believe the bookies actually got it wrong when naming the opposing team as favourites.
Double Chance Bet Example
Lets take another look at that image on the right.
The first option pays if England either wins or draws
If you placed a bet on the second option then you win if Italy either wins or draws.
Betting on the third option means you win if either England Or Italy wins. A draw will result in you losing your bet.
In essence, you’re combining two out of the three possible outcomes, either a win, draw or loss, into one bet. Again, this explains why the odds you get on a double chance bet is a lot lower than betting outright on one of the three outcomes.
Something else I noticed from that screenshot is that the odds on betting on the actual score is a lot better. What sort of wager are you likely to place on this years world cup. Would you try the double chance bet or would you just bet on the outright result? Also, would you take a chance by placing a bet on the actual score?
On the rare chance that I got the explanation all wrong I shot an email to the guys at bet365 and asked them what a double chance bet was. Here is what they had to say.
Dear Mr Pelliccia ,
Thank you for your market query.
The double chance selection are as follows:
– England or Draw (Wins if England win or the game ties – Loses if Italy win)
– Draw or Italy (Wins if the game ties or Italy win – Loses if England win)
– England or Italy (England or Italy win – Loses if the game ties).