Placing a bet on sports betting websites is a straightforward process. However, not everyone is familiar with the characteristic punter jargon, especially relating to the different types of bets. Newcomers could miss out on excellent opportunities simply because they don’t understand that they exist.
For example, a double bet is a multiple or accumulator wager that’s great for new punters. There’s a lot of questions you can ask about it: How to calculate the odds? Are there specific requirements for placing one? Are there different types of this bet? In this guide, we will give you all the answers, and you will see it’s not much more complicated than betting on a single match.
Some sports go hand in hand with this type of accumulator bet, most prominently football, horse racing, and tennis.
What Is a Double Bet?
A double is a simpler version of a multi-bet. It essentially consists of two single bets with combined odds, and it’s a popular bet across the globe. You have a smaller chance of picking a winner in multiple matches than you do in one, and that’s why these bets have more substantial winnings.
Both predictions you selected on the betting slip need to be accurate to win a double sports bet. If just one game has a different outcome than you predicted, the whole bet is lost.
How to Calculate Odds
Before placing your first double bet, you need to familiarise yourself with calculating odds for multiple games. We will use two matches, Everton vs Arsenal and Liverpool vs Aston Villa, in our example. The fractional odds for the Everton vs Arsenal match are 11/4, 13/5, and 1/1 (evens); that’s 3.75, 3.6, and 2 in decimal odds. The first number represents the odds of the first team – i.e., the home team – winning, the second is for the match ending in a draw, and the last odds are reserved for the second team’s (the guest’s) win. The same goes for Liverpool vs Aston Villa, our second match on the betting slip, with odds 1/4, 11/2, and 11/1 (1.25, 6.5, and 12).
Calculating Traditional and Decimal Odds
Example #1: Betting on Favorites
We will bet on Arsenal in our first match and Liverpool in the second in this example. In our first doubles bet, we will wager £10 on these two teams to win.
Total returns are: £10 ✕ (1/1 + 1) ✕ (1/4 + 1) = £25
Decimal odds are even more straightforward to calculate:
£10 ✕ 2 ✕ 1.25 = £25
As you can see, both teams are clear favourites in this matchup. Therefore profit from this bet is only £15 on a £10 stake.
Example #2: Betting on the Underdogs
Winnings are higher for teams that are not favourites. This is especially true if you have multiple games on your betting slip. Just remember that betting on doubles is also that much harder to win.
In our example, if Everton and Aston Villa win, the returns would be as follows:
£10 ✕ (11/4 + 1) ✕ (11/1 + 1) = £450
And in decimal odds:
£10 ✕ 3.75 ✕ 12 = £450
As you can see, it’s pretty different than a single underdog bet for each of those matches on their own, which would bring in £37.5 and £120, respectively. It’s also worth mentioning again that both teams need to win to collect £440 on a £10 bet, making it a much riskier option.
What Is an Each-Way Double Bet?
An each-way is a bet with double entries, mainly used in horse racing. To place it, you need to choose two different races and place two double wagers, one for the win and one for a horse’s placement in the race. Essentially, both horses need to win or place for you to win.
Your stakes are doubled since they need to cover two bets. So, what is required to win? Both horses need to place first to get both portions of the bet. If both horses place among top finishers, you win that part of an each-way bet. If only one wins and other horse places, you earn the place portion again.
Strategies: Double Bet Explained
Try to refrain from making impossible bets and unfavourable matchups when you select two games and combine them on your betting slip. By incorporating two games that have favoured one side significantly more than the other, you can capitalise on better total odds and better payouts than playing them separately.
Of course, that may not be as fun as rooting for the underdog. Maybe one of your favourite football clubs isn’t exactly among the first teams on the table, but they’ve had a series of great games, and they are at the top of their game. Double betting on them to win and including another match with a team that’s expected to be a winner playing at home against a team facing relegation may be a winning ticket.
If you are simply playing for fun and include total outsiders on your bet, that’s perfectly fine. Just measure your expectations and play responsibly. After all, while an unexpected win is always more fun, it’s better not to risk your savings over it.
No matter what kind of betting strategy you have, knowing what doubles betting is will be helpful for you as a punter. It’s a bit more complex than singles betting, while being more entertaining and potentially bringing more winnings.
What is a double horse bet?
An each-way double is considered a horse double wager. It consists of two different races and includes both win and place conditions. Keep in mind that, since these are effectively two bets, you need to place two stakes for each.
What is a double result bet?
A double result bet includes betting on two results in one match. You need to choose the outcome at halftime and the end of the game. Both need to succeed for the bet to win.
What is a single and double bet?
A single bet involves the outcome of one match, while the double combines the stakes of two games for bigger winnings. It also needs both selections to come true to win, making it more profitable and riskier than a single bet.