Maximize Your Winnings with the Double Chance Betting Strategy: A Comprehensive Guide

Welcome to our comprehensive guide on how to maximize your winnings with the double chance betting strategy. If you’re looking for a way to increase your chances of success in football betting, then this guide is for you.

The double chance betting strategy is a powerful tool that allows you to cover more outcomes and reduce the risk of losing your bets. By placing a single bet, you can back two possible outcomes in a game, giving you a higher chance of winning.

In this guide, we will walk you through the fundamentals of the double chance strategy, including how it works, when to use it, and some tips and tricks to make the most out of your bets.

Whether you’re a seasoned bettor or new to the world of sports betting, this guide will provide you with the knowledge and strategies you need to tackle double chance betting. 

So, if you’re ready to take your betting game to the next level and increase your profits, let’s dive into the world of double chance betting strategy.


Understanding Double Chance Betting

The double chance bet is a popular choice among bettors who want to minimize their risk while still having a shot at winning.

It involves placing a single bet on two possible outcomes in a football match, rather than just one.

For example, in a soccer match between Manchester City and Real Madrid, the traditional match odds market (also known as 1X2) offers three options:

  • Manchester City to win (1),
  • A draw (X), or
  • Real Madrid to win (2).

Here we can see the typical match odds for this game, from the Betfair exchange:

However, with the Double Chance bet you are backing two outcomes combined. You can back any of three choices:

  • Man City to win or draw
  • Real Madrid to win or draw
  • Man City or Real Madrid to win

So the Double Chance market on Betfair looks like this:

By covering two possible outcomes, you increase your chances of winning the bet.

However, it’s important to note that the odds for double chance bets are lower than for traditional match odds bets, as the risk is reduced.

So in this example, backing the Double Chance of Home or Draw (i.e. Man City or the Draw) is priced at just 1.20, compared to backing Man City in the match odds market at 1.62.

In the end, the result of the match was 1-1, meaning that two bets would have been successful: Home or Draw, and Draw or Away. 


Advantages of using the Double Chance strategy

There are several advantages to using the double chance strategy in football betting. First and foremost, it reduces the risk of losing your bet compared to backing just one outcome.

By covering two possible outcomes, you have a higher chance of winning, even if your primary choice doesn’t come through.

Additionally, the double chance strategy allows you to play it safe and still have a shot at winning. It’s a great option for bettors who prefer a more conservative approach and want to avoid the disappointment of a loss.

Furthermore, the double chance strategy can be particularly useful when betting on underdogs.

By backing the underdog to win or draw, you are reducing your risk somewhat compared to just backing the underdog. 

In the example above of Man City vs Real Madrid, backing the away side alone would have resulted in a losing bet. However, backing the double chance of “Away or Draw” at odds of 2.58 would have resulted in a winning bet. 

So in many ways the double chance is a means of hedging your bets across different outcomes rather than plumping for just one choice. 

However, it is important to remember that whilst the double chance bet reduces the risk of losing compared to backing just one outcome, the odds are lower. So it is not in itself inherently a better value bet – it is a question of how you use it, which we will now look at below.

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Double Chance Betting Strategy

A potential strategy for betting on the double chance market is to identify teams that frequently draw matches but have a strong record of avoiding losses.

This approach provides some insurance compared to simply backing a team to win, as a draw would result in a winning bet rather than a loss.

Let’s take the example of Real Betis in the 2023/24 season of La Liga, as observed on the SoccerStats website.

Real Betis were a solid team that season, experiencing relatively few defeats throughout the season. However, they had a tendency to draw a significant number of matches:

Indeed, looking at Real Betis’s performance in the 2023/24 season, they exhibited a strong ability to avoid losses, losing only 8 games out of 31.

However, they had a notable tendency to draw matches, accumulating 12 draws in total.

If you had been consistently backing them to win, you would have faced frustration due to the high number of drawn matches.

By employing the double chance strategy however, you would have mitigated this frustration, as you would have won your double chance bet in the event of a draw on 12 occasions (backing the Betis or Draw option that is).

This approach would have been particularly beneficial when Betis played at home, as they only suffered two losses but recorded 6 draws and 8 wins.

Another example is Newcastle United in the 2022/23 Premier League Season. It was a very successful season for the Magpies, and they proved a tough team to beat, with manager Eddie Howe having them well-organized at the back whilst also providing a threat going forward.

As you can see from their stats, they only lost five games out of 36 but drew quite a large number, with 12 draws.

Newcastle may have been good value in particular for a double chance wager when playing away from home, as they only lost 3 games away from St James’s Park but drew 7, almost as many as they won.

They had some good away victories at the likes of Tottenham, Fulham, Brentford, and West Ham, whilst managing creditable draws away at the likes of Arsenal and Manchester Utd.

So with decent odds normally being available for a Newcastle double chance bet in those away fixtures, they would have presented good value on this market over the 22/23 season.

Identifying teams with a similar pattern of consistently drawing matches can present lucrative opportunities in the double chance market.


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Alternative Strategy: Teams that Don’t Tend to Draw

Another way of approaching the double chance market is to look for teams with the opposite kind of record: those that draw very few matches and to back them to win or lose (home or away double chance).

For example, Tottenham Hotspur in the 2022/23 season drew very few games in the Premier League:

Over the course of 38 games, they drew just six, meaning that the “home or away” double chance bet would have landed on a large number of occasions (32 out of 38, to be precise). 

This type of double chance bet is, in effect, the equivalent of laying the draw but it may be useful for those who don’t have access to the exchanges and can only bet with the bookies, so don’t have the lay the draw available but would be able to bet on the double chance. 


How to Find Teams Suitable for Double Chance Betting

Identifying teams that are suitable for a double chance strategy requires thorough analysis and consideration of various factors.

While specific teams’ performance can vary from season to season, here are some general indicators to look for when considering the double chance (win or draw) strategy:

  • Defensive-minded teams: Teams known for their strong defensive capabilities and disciplined playing style tend to have a higher likelihood of drawing matches. These teams prioritize avoiding losses and often have solid defensive structures that make it challenging for opponents to score.
  • Inconsistent goal-scoring teams: Teams that struggle to consistently score goals but have a resilient defense can be prime candidates for the double chance strategy. These teams may rely on tight defensive play and aim to grind out results, leading to a higher probability of drawn matches.
  • Mid-table teams: Teams that consistently find themselves in mid-table positions often face opponents of similar strength. These matchups can result in closely contested games with a higher potential for draws.
  • Teams with low-scoring matches: Assess teams that are involved in matches with relatively low-scoring averages. Such teams tend to have fewer goals scored overall, increasing the likelihood of drawn matches.

If looking for teams to fit the “home or away” double chance, it is best to look for the opposite of these facets however. You would be looking for high-scoring, attacking teams that don’t tend to draw many matches.


Analyzing team statistics and form

Before placing a double chance bet, it’s essential to analyze the team statistics and form. Look at the team’s recent performance, their head-to-head record, and their home and away form.

This will give you a better understanding of their strengths and weaknesses, and help you make an informed decision on which outcomes to back.

Pay attention to key factors such as goal-scoring ability, defensive solidity, and recent results against similar opposition.

These factors can provide valuable insights into the potential outcomes of a game and help you choose the right double chance option.


Common mistakes to avoid when using the Double Chance strategy

While the double chance strategy can be an effective tool, there are some common mistakes that bettors should avoid to maximize their chances of success.

One common mistake is blindly betting on the underdog in every game. While the double chance strategy can be useful when betting on underdogs, it’s important to carefully analyze the teams and their chances of success.

Betting on underdogs blindly without considering their form or statistics can lead to poor results.

Another mistake is betting on double chance options with extremely low odds. While these bets may have a higher chance of winning, the potential payout may not be worth the risk. It’s important to find a balance between odds and potential returns to ensure long-term profitability.

Additionally, it’s important to avoid overcomplicating your betting strategy. Stick to the fundamentals of the double chance strategy and focus on making informed decisions based on careful analysis.

Trying to incorporate too many variables or strategies can lead to confusion and poor decision-making.


Managing your bankroll and setting realistic goals

As with any betting strategy, it’s crucial to manage your bankroll effectively and set realistic goals. Determine a budget for your betting activities and stick to it. Avoid chasing losses or increasing your stakes in an attempt to recover previous losses.

Set realistic goals for your betting and be patient. The double chance strategy is not a guaranteed path to riches, but it can help you increase your chances of success over time. Focus on long-term profitability rather than short-term gains.


Conclusion: Is the Double Chance strategy right for you?

In conclusion, the double chance betting strategy offers bettors a versatile and effective approach to “hedging your bets” in football gambling. 

By covering two possible outcomes with a single bet, this strategy provides a safety net while still offering the potential for profit.

Throughout this guide, we’ve explored the fundamentals of the double chance strategy, including its advantages, potential strategies, and how to identify suitable teams for this approach. We’ve also highlighted common mistakes to avoid and emphasized the importance of careful analysis and bankroll management.

Ultimately, the suitability of the double chance strategy depends on your individual preferences, risk tolerance, and betting goals. By weighing the pros and cons and considering your own betting style, you can determine whether the double chance strategy aligns with your objectives and enhances your overall betting experience.

As with any betting strategy, it’s important to approach it with caution, conduct thorough research, and stay informed about relevant factors affecting the outcomes of games.

With diligence and strategic thinking, the double chance strategy can be a valuable tool in your quest for betting success.

For more strategies like this, check out our over 1.5 goals strategy here.

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