Double Chance Betting Explained | Meaning of Double Chance Bet

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Barclay's Premier League 2020/21 To Win Outright Markets

Last updated on 5 Sep 2011 at 3:11 PM

Double Chance Betting

Double chance betting is usually deployed by punters who enjoy backing the underdogs with its main feature the fact that it covers two out of three possible outcomes.

By taking a double chance on a team, you win the same amount of money if your team win or if they draw, meaning that only the defeat of the team you backed will result in a loss.

Majority of punters decide to take a double chance on underdogs when they believe that the other team have been wrongfully made favourites by the bookies or when they feel that the odds offered on the underdog represent a good value for money.

Example

A bettor places a double chance bet on Bolton against Arsenal, hoping to take advantage of Trotters’ good home form. The bet will be a winning one if Bolton win or draw, whereas Arsenal win is the only outcome that would result in losing the bet.

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Pros

Two out of three outcomes covered
Same return on win and draw
Great option for backing the underdogs

Cons

Short prices
Only good for backing the underdogs

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