What Are Doubles in Betting?

The concept of a ‘doubles’ in betting has been around for a long time. Essentially, a doubles bet is when you place a wager on one sporting event and simultaneously put a wager on a second sporting event. If the first game ends in a tie, there is no need to worry about the second game since you already won the first. Alternatively, if the first game ends in a landslide victory, the second game is a form of insurance against embarrassment.

In some cases, you may even get lucky and win both wagers. However, the overwhelming majority of the time, you will lose both wagers. Why? Because there is an inherent risk in taking on two bets simultaneously; especially when one of them is predicated on the other game ending in a specific way.

For example, if you bet on the Chicago Cubs to beat the Atlanta Braves in a baseball game and the Cubs end up losing, you are going to be pretty upset. However, if you also bet on the Chicago Bears to lose to the Green Bay Packers in a football game, you are going to be pretty upset about that one too.

Understand The Risks

The fact that there is a risk in making a doubles bet is something that bettors have to live with. When you make a single bet, there is a certain degree of risk associated with it, especially when you place a large wager. However, when you make a doubles bet, the risk is multiplied since you are also placing a bet on the second game, contingent upon the first game ending in a specific way. This is why so many gamblers avoid taking on doubles; it is too much risk for too little reward.

The Many Variations

As with any other form of wagering, there are many different ways to make a doubles bet. Some people like to use teasers, which basically means they will wager on one event and, as the name implies, ‘tease’ the player into wagering on the second. For example, if you love the Chicago Cubs and bet on them throughout the year, you might use teasers to encourage the bettors on the Atlanta Braves to make wagers on them too, especially if both teams have a lot of games left in the season. Essentially, you use teasers to create an event-based pool, a type of wagering where multiple people contribute money towards each individual bet.

The Many Benefits

On the other hand, some people see the benefits of a doubles bet immediately. Specifically, if you bet on the San Francisco Giants to beat the New York Mets and the Giants do in fact win the bet, you are going to be paid out double your wager. This is because the payoff for winning a bet on the Giants is 1.8 million to one, while the payoffs for the other nine betting options are all below 900,000.

The other nine options are as follows:

  • Boston Red Sox vs New York Yankees – 740,000
  • Toronto Blue Jays vs Cleveland Indians – 700,000
  • Seattle Mariners vs Houston Astros – 660,000
  • St. Louis Cardinals vs Kansas City Royals – 630,000
  • Los Angeles Dodgers vs San Diego Padres – 520,000
  • Arizona Diamondbacks vs Milwaukee Brewers – 480,000
  • Chicago White Sox vs Los Angeles Angels – 460,000
  • Texas Rangers vs Oakland A’s – 440,000
  • Pittsburgh Pirates vs St. Louis Cardinals – 420,000

While the above examples give you an idea of the risks and rewards of a double bet, it is also important to note that the rewards generally do not come in the form of cash. Instead, you are going to get tickets to games, luxury hotel rooms, and other such benefits. The key is in the fact that you are taking on risk in the name of a potential reward, which, in many cases, is a once-in-a-lifetime experience. This is why many people find doubles so appealing.

On a side note, it is also important to note that the odds of winning both wagers usually favor the house. Why? Two reasons: first, the house is taking on more risk by allowing multiple people to wager on one outcome. Second, people are more likely to win when they bet on multiple games, as a way to balance out the risk. For example, if you bet a dollar on the San Francisco Giants to beat the Chicago Cubs and the Giants do indeed win, you will have a one-in-four chance of winning both wagers. However, if you bet just twice as much on the Giants to win and lost both times, you have only a one-in-seven chance at winning both wagers.

Use Your Head

When it comes to wagering, there is always a degree of risk involved. However, when you place a large wager on multiple events, the risk is multiplied. Many people get upset when they lose large sums of money on a single wagering venture. The key is to use your head. If you are emotionally attached to an event, you are going to feel terrible when you lose. So, in those cases, it is best to avoid doubles entirely, or at least reduce the size of your wagers. If you use your head and avoid the common pitfalls of betting, you should have no trouble winning and losing with relative balance.

As with any other form of gambling, there are always people who will tell you that you are not really losing, but instead, you are just playing against the house. This is not necessarily true. When you place a wager using a credit card, you are virtually assured of receiving your winnings, because the credit card companies are generally on the side of the player. In fact, the credit card companies actively promote playing with odds in your favor. Still, there is always a degree of risk involved in playing with credit cards, because if you are using a charge card, you cannot dispute the charge. Moreover, the credit card companies have the final word on whether or not you will be paid out. Still, playing with odds in your favor is generally a good idea, as long as you play responsibly.

Ultimately, you have to decide for yourself whether or not you are going to take on a doubles bet. Are you looking for an event-based wagering pool or do you already have a winner in mind? Moreover, do you feel that the advantages of a double outweigh the risks or vice versa? There are pros and cons to both sides of the argument, but, in the end, it is up to you to decide what is best for you.