Some sporting events can end with three possible results. Games such as football have a high possibility of one out of three outcomes, i.e., a draw, loss, or win. Other games such as NBA and cricket have two possible results, i.e., a win or lose with an appeal highly unlikely (but not impossible). Usually, a punter can make a wager on one out of the three outcomes. If a punter decides to make a wager on two out of three results, a punter may end up losing more money even if one of their predictions is correct. With a double chance wager, a punter gets the opportunity to make a wager on two of those three outcomes. The first predicted outcome can be the backed outcome, and the second can be a hedged wager. Betting on both outcomes is rolled into one stake called double chance sports betting. Any strategy based on wagers in the double chance betting market is a double chance betting strategy. Professional punters utilize dual option betting strategies on too-close-to-call, high-stakes games, and hedged stakes.
Double Chance Betting Features
Some of the features of double chance sports betting strategies include betting on two outcomes, making a wager on both teams, wagers on games with a higher probability of a draw result, similarity to other betting strategies, and the odds and payouts.
1. Betting On Two Outcomes
Double chance wagers are two out of three possible outcomes in a sporting event such as football. A double chance wager includes making a wager on two out of three results: a draw, a win, or a loss. The selected results should consist of a victory and draw or the losing and drawing. Double chance wagers are also known as hedged wagers because a punter can hedge the wager in an unexpected draw result. Alternatively, punters can look at a double chance wager as making a wager on a team not to win a bet. If a punter is sure a team doesn’t stand a chance to win a game against another stronger team, then the punter can place a double chance wager on the team that’s favorites to win. The punter can still expect a payout if the expected team wins or the game ends in a draw.
2. Can’t Wager On Both Teams
While some betting content indicates punters can place wagers on one team to win and one to lose, this is not the case. Making a wager on one team to win and the other team to lose is the same as making a general match wager with a worse payout. A double chance wager includes betting on a team to win and a draw or a team to lose and a draw. For example, a wager on a game between Chelsea and Everton would include a double chance bet on the latter to win or draw the game. Equally matched teams are off chance, and the game ends in a draw; the punter can still expect a payout because Chelsea didn’t lose.
3. Higher Draw Results
They utilize double chance wagers in games with a higher probability of a draw result. Examples of fun with a higher likelihood of a draw include matches between evenly matched teams, games between teams in low goal-scoring form, games between good defensive squads, and the finals or semis or highly competitive tournaments (FIFA World Cup, Euros, Champions League, FA Cup, etc.).
4. Similar To No Draw Betting Strategies
Double chance wagers are in a way similar to no-draw betting strategies because both strategies eliminate the possibility of a draw and enable punters to either win or lose a bet. However, both systems have a different payout for the same wager.
5. Odds And Payout
The payout on a double chance wager for a game between Manchester United and Leeds United is lower than a wager on the outright winner of a match. The odds on a double chance wager are also lower because punters take on lesser risk by backing two out of three options. Lower odds also mean a higher probability of the event occurring and a punter receiving a payout. It is one of the reasons double chance wagers can be lucrative for a consistent punter in the double chance sports betting markets.