- A double bet involves placing two separate bets, with the winnings from the first bet being rolled over to the second bet.
What Is A Double Bet?
A double bet involves picking two selections, both of which must win for the bettor to receive a payout. It combines two single bets into one, offering a potentially larger payout. The odds for each selection are multiplied together, leading to higher potential returns compared to placing two separate single bets.
To place a double bet, the bettor selects two events or games to bet on and places a wager on both. For instance, in horse racing, one might bet on two separate races, selecting a horse to win in each. Both horses need to win their races for the double bet to succeed.
If one of the selections loses, the entire bet is lost.
Example
Let’s say you place a £10 double bet on a football match at odds of 2.0, and a horse race at odds of 3.0
- If both selections win, the total return will be £60 (£10 x 2.0 x 3.0), with £50 profit.
- If one or more selections lose, the entire bet is lost.
Another way of looking at it is that the winnings from the the first bet (£20) are rolled onto the next bet at 3.0.
Each-Way Doubles
An each-way double, frequently seen in horse racing, involves selecting two horses in different races and placing two double bets: a win double and a place double. For the win double to succeed, both horses must win, while for the place double, both horses need to place.
Since you’re effectively making two bets in one, your stake is doubled. Therefore, a £10 stake would become £20 to cover both parts of the bet. The place double odds are typically 1/5 of the original odds.
Consider an example: If you bet £10 on two horses at odds of 3/1 and 6/1 respectively, your maximum potential winnings could amount to £315.20. This includes £280 for the win part (including your initial stake), and £35.20 for the place part (taking into account the multiplied stake).
If both horses win, both parts of the double bet succeed, resulting in total winnings of £315.20.
What To Look For In A Double Bet
Here are my recommendations for what bettors should consider when evaluating Double bets:
Value Odds
When selecting outcomes for your double bet, consider each event’s probability and aim for selections with a higher likelihood of success than the odds imply.
Look beyond just the odds by analysing recent form, head-to-head records, playing styles, and injury statuses. By incorporating these factors, you can make more informed choices and increase your chances of winning.
Risk/Reward Balance
When placing a double bet, it’s crucial to strike the right balance between risk and reward.
To gauge the level of risk, assess the probability of each selection winning. High probabilities for both selections lowers the overall risk, while lower probabilities increase it.
If one part of your double bet holds particular value, consider placing a single bet on that outcome to avoid additional risk. Alternatively, adjusting the bet sizes for doubles can help maintain comfortable stakes without jeopardising your bankroll.
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