The term ‘double chance’ is used a lot in betting, but what does it mean?
Here, we’ll explore the concept of double chance and how you can use it to your advantage when betting.
What Is ‘Double Chance’?
The term ‘double chance’ is used to describe a situation in which you get to place two bets – one on each event — and you can win more than you would if you had bet alone.
For example, if you bet £10 on each of two horses, you will win £20 if either one of the horses wins. In other words, the outcome is twice as likely to be successful as if you had bet £10 on each horse separately.
Similarly, if you bet £10 on a roulette wheel and then place a subsequent bet on either red or black, you will increase your chances of winning from 1 in 36 to 1 in 18. Again, this is because there are twice as many possible winning combinations as there are individual bets.
This concept can be applied to all kinds of betting, not just to horse racing or sports betting as it may seem. For example, if you bet £10 in the World Cup on a team to score a goal, you are essentially placing a double bet on that event.
Advantages Of Double Chance
The concept of double chance can be used to your advantage when betting. Below, we’ll list a number of ways that it can.
A major advantage of double chance is that it can increase the number of conversions. Unless you are playing in an online setting, you will often see percentages rather than figures in sports betting – especially for long-shots – but when there are two bets, you can have a 100% conversion rate.
For example, if you bet £10 on a long-shot to win a race and then place a £20 bet on the same horse, you will win the £30 if it wins. Thus, you are guaranteed to make a profit.
More generally, if you are betting on a team and you believe that they have a good chance of winning, you can increase your chances of converting your stake by placing a second bet on that team. For example, you can bet £10 on Liverpool to win the Premier League and then place a £20 bet on Manchester United to beat Liverpool.
Another advantage of double chance is more variety in your betting decisions. Let’s say that you are playing in a £5 stake, single event pot. You may think that certain events are more suited to your bankroll than others, but without variety, you will eventually get beat by a better-balanced opponent. The key to this is in the fact that you are not bound to any one type of bet – you can place a bet on the favourites, the underdogs, or new events that you have never seen before. You can increase your chances of having a good day by varying your bets and trying something new. This is why many betting sites offer such a wide variety of bets – you can try something new without risking your entire bankroll.
In some cases, placing a second bet on a team or an event can lower your winnings rather than raise them. This depends on the odds of the second bet compared to the first. If the second bet is more likely to lose than gain, you will get back less than you invested.
For example, if you bet £10 on Arsenal to win and then place a £20 bet on the underdogs, the number of winning combinations is now 2 in 40, rather than 2 in 30, which means that you have reduced your odds of winning from 1 in 3 to 1 in 4. Therefore, if you want a better chance of winning, avoid multiple bets where the return is on a ratio lower than 1 to 1.
When To Use ‘Double Chance’
There are occasions when you may want to increase your chances of winning, but not all situations are made equal. You might be better off taking a lower stake on an event you are more likely to lose, rather than risking your entire bankroll on a sure thing. It depends on your personal preferences what kind of situation you are in – but in any case, the concept of double chance can be helpful. Keep in mind though, that there are times when you may want to avoid it.
If you place a single bet on a horse or team and you see that their odds are decreasing as the day goes on – especially if they are lower than 1 in 30 – then you should consider placing a second bet to increase your odds of winning. This may sound counterintuitive, but if you think about it, you will see that it is indeed the right choice.
Similarly, if you bet on a team and their odds seem to be going up rather than down as the day goes on, rather than increasing your chances, you might want to consider decreasing your stake to reduce your overall losses.
The Role Of Online Casinos
Online casinos have made the concept of double chance much easier to implement. Through a number of betting options and competitive gameplays, they have created an environment in which you can practice betting and increase your odds of winning without risking too much of your own money. Therefore, if you are even moderately competent at gambling, you can increase your winnings by simply using an online casino. However, it is important to note that this kind of activity is considered ‘risky’ by many financial regulators, especially in the United Kingdom.
The concept of double chance is important in betting because it can increase your chances of winning. In some cases, this may mean that you can make a profit. However, in other cases, you may lose money. To be on the safe side, you may want to avoid multiple bets where the return on the second is significantly lower than the first.