A double chance bet lets you use a single stake to cover two out of three results in a game.

Backing two thirds of the results will make it more likely for you to win and it can be done in the following ways:

Home win or draw (1X)
Away win or draw (2X)
Home win or away win (12)

Double chance bets are positioned among the various betting markets offered by sports betting sites. Winning on double chance bets is easier than selecting a single outcome, which is why some sportsbooks will either enhance or cut their odds compared to the what the exact odds should be.

However, it is possible to check whether or not a sportsbook is giving you honest odds for double chance betting. You can do this and check out whether you are getting a good deal or a bad deal. To help, FootyBettingTips.co.uk has provided a double chance calculator below:

Here are the formulas for calculating double chance odds:

Odds of Team A or B * Odds of Draw / (Odds of Team A or B + Odds of Draw);

Quite simply, you take the odds of team A or B winning and multiply them by the odds of a draw. You then divide that value by the odds of team A or B winning plus the odds of a draw.

But the formula changes for backing either team to win:

Odds of Team A * Odds of Team B / (Odds of Team A + Odds of Team B)

This formua requires you to multiply the odds of team A by the odds of team B before dividing that value by the odds of team A plus the odds of team B

Now let’s compare Benfica v Man Utd in the following example: 
Benfica – 3.75 Draw – 3.40 Man Utd – 2.00

Calculating Benfica or draw would appear as follows:

3.75 * 3.40 / (3.75 +3.40) = 12.75 / 7.15 = 1.783

Ideally, you would want Benfica or draw odds at 1.78 or better.

Example number two will feature Benfica or Man Utd:

3.75 * 2.00 / (3.75) + 2.00 = 7.50 / 5.75 = 1.304

In this case, you should back either team to win at close to 1.30 or better.

You can always pick two selections individually if you are not happy with the double chance odds. For example, let’s look at Benfica or draw as individual bets and the goal is to win £100.

Benfica to win: £100 / 3.75 = £26.66 stake required
Draw: £100/ 3.40 = £29.41 stake required
Total stake: £56.07
Profit: £100 – £56.07 = £43.93 after subtracting wagers

Now it’s worth checking how a £56.07 stake would fare if the sportsbook offered Benfica or draw at 1.72 odds, which is lower than the 1.78 example calculated above:

£56.07 * 1.72 = £96.44
Profit: £96.44 – £56.07 = £40.37

By calculating double chance odds, you can avoid missing out on extra winnings like in the example above, where the bettor missed out on £3.56. There are instances when you can actually get better odds with double chance, but you will not know unless you do the math.

Should I Make a Double Chance Bet?

You should make the bet when the double chance odds are not lower than their true value. In these cases, it is more profitable to place two separate bets as explained earlier. For larger stakes, the difference can be quite incredible. See for yourself in the table below:

Here’s what happens when the difference is 0.16:

As you can see, there are potentially enormous gains to be made when you bet with larger stakes.

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