What is a double chance bet? 2024 guide

The "double chance" bet is a popular option in soccer betting, offering bettors the opportunity to cover two out of the three possible outcomes in a match—win, lose, or draw. This type of wager is straightforward and easy to grasp, which contributes to its widespread appeal among soccer enthusiasts. By allowing bettors to hedge their bets on two outcomes instead of just one, the double chance bet increases the likelihood of a successful prediction, making it an attractive choice for both novice and experienced bettors. This added security is one of the reasons it’s a favored prop bet in soccer.

Understanding double chance bet

A double chance bet allows you to bet on two of the three potential outcomes in a soccer match:

• Team A wins
• Team B wins
• The match ends in a draw

By selecting two of these outcomes, you effectively double your chances of winning, which is why it’s called a double chance bet. This type of wager is popular among bettors who prefer a safer option, as it significantly reduces the risk of losing. However, this increased security comes at a cost—since the odds of winning are higher, the potential payouts are lower compared to betting on a single outcome. While it’s a more expensive betting strategy, the reduced risk makes it an appealing choice for those looking to minimize losses.

Steps to place double chance bets

Placing a double chance bet is a simple and accessible process, especially since most top-tier soccer betting sites include this option in their offerings. Here’s a detailed guide to help you navigate the process and make the most of your bet:

Step 1

Sign up or log in: If you don’t already have an account with a sportsbook like BetOnline, start by visiting their website and creating an account. This involves providing some basic information, verifying your identity, and setting up your preferred payment method. If you already have an account, simply log in.

Step 2 

Explore the sportsbook: Once you’re logged in, head to the sportsbook section. This is where you’ll find all the available betting markets for various sports, including soccer. In the navigation menu, look for “Game Props” or a similar section that lists additional betting options beyond the standard win/loss bets.

Step 3

Select a soccer match: Browse through the list of available soccer games to find the match you’re interested in. Each game will have a variety of betting options, from simple moneyline bets to more complex propositions like the double chance.

Step 4

Locate the double chance option: Within the betting options for your chosen game, scroll through until you find the “Double Chance” bet. This is usually listed alongside other game outcome bets. The double chance bet will offer you three different selections: 

• Team A to Win or Draw
• Team B to Win or Draw
• Either Team to Win (no draw)

These options cover two of the three possible outcomes, increasing your chances of a successful bet.

Step 5

Evaluate the odds: Before placing your bet, take a moment to review the odds associated with each double chance option. The odds reflect the likelihood of each outcome and will influence your potential payout. Remember, the safer the bet (like betting on a favored team), the lower the payout due to the reduced risk.

Step 6

Enter your stake: After selecting your preferred double chance option, enter the amount of money you wish to wager. Most sportsbooks will display your potential payout based on the odds and your stake, so you can see exactly what you stand to win.

Step 7

Confirm and place your bet: Finally, review all the details of your bet to ensure everything is correct. Once you’re satisfied, confirm your bet to finalize the process. Your wager will be active for the match, and you can track it through your account.

By following these steps, you can easily place a double chance bet on your chosen soccer match. This type of bet offers a balanced approach, combining the excitement of betting with an added layer of security by covering two outcomes, making it a popular choice among both novice and experienced bettors.

How does double chance betting operate?

At many top online sportsbooks, the double chance betting option is typically found under the "game props" or similar categories within the betting markets for a specific soccer match. This option is also available for other sports where a tie is a possible outcome, providing bettors with additional flexibility in their wagers.

Example of a double chance bet

With Euro 2024 underway, let's look at how a double chance bet functions using an actual upcoming match as an example. We'll consider BetOnline, one of the leading platforms for Euro betting, to illustrate this.

For the upcoming England vs. Slovenia match, BetOnline is offering the following odds for a double chance bet. This bet allows you to select two out of the three possible outcomes—England wins, Slovenia wins, or the match ends in a draw—thereby increasing your chances of winning. The odds for each combination are adjusted to reflect the reduced risk, making it a strategic choice for those who prefer a safer betting approach.

As previously mentioned, a double chance bet allows you to wager on two of the three possible outcomes in a match. The odds provided by the sportsbook reflect the likelihood of each outcome based on their analysis. If you're unfamiliar with how odds work, you can refer to our guide on the meaning of plus and minus odds.

Here’s how the double chance bet would work in our example:

England or Draw (-1500): If you place this bet, you win if England either wins the match or it ends in a draw. The odds of -1500 indicate that you would need to bet $1500 to earn a profit of $100.

England or Slovenia (-520): This bet wins if either England or Slovenia wins the match. However, if the match ends in a draw, you lose the bet. With odds of -520, a $520 bet would pay out $620, providing a profit of $100.

Slovenia or Draw (+215): In this case, you win the bet if Slovenia either wins the match or it ends in a draw. The odds of +215 mean that a $100 bet would return $315, with a profit of $215.

In this particular game, England is heavily favored, which is why the double chance bet on England to win or draw comes with such low odds (-1500). This means that betting on this outcome is relatively safe but comes at a high cost for a small return. For example, a $1500 bet would only yield a $100 profit, making it an expensive option for a modest gain.

As highlighted earlier, one of the trade-offs of a double chance bet is the lower payouts, which result from the reduced risk associated with this type of wager.