What is a Double Bet? A Simple Explanation to How They Work
If you are looking to step up your betting game with multiple betting, double betting is a perfect first step. So, in this article, we will provide you with a double betting explanation. So stick around if you are interested in how to double bet, and how you can use a double bet calculator.
Double Betting Explanation: What is a Double Bet and How Do I Use It?
Double betting is the simplest form of betting accumulators. As you can guess from its name, a double bet is a wager on two selections. In order to get a return, both of your selections need to win. However, it’s important to emphasize that you will be betting on the winner of the event. Consequently, your two bets will have to be on two separate events.
In order to calculate your returns, you need to multiply the odds of each individual bet, and then multiply the result with your wager. As you can see, since the odds of two events combine into one, you will be in for a bigger profit. So, while they are a riskier proposition, compared to single bets, double bets often pay more.
To give you a proper double betting explanation, and show you how to double bet, here is an example. Say you want to place a bet on two football matches. You can bet on the winner of the first match at 1.5 and on the winner of the second match at 3. Say you make a wager of £20. The combined odds of your two selections would be 1.5×3, which equals 4.5. Multiplied with your wager, your payout will be £90. Since your original wager was £20, your profit will be £70.
To know on which odds you could place a Double Bet, come check out our selection of best betting sites !
How to Calculate Winnings
Work out your winnings with our Double Bet Calculator.
What Are Some of the Major Advantages of Placing a Double Bet?
Now that we are done with our double betting explanation, let’s turn to some of the main advantages.
First off, single bets are easy to understand, and don’t require complicated calculations and strategising. Yet, they can bring you significant profit when compared to a single bet. Since the odds two different events are combined, you can afford to back two low-value favourites and still make good returns.
What Are Some of the Major Risks of Making a Double Bet?
On the other hand, like every multiple bet, a double bet is riskier than a single. Since you need to choose the winner of two matches, there is double the chance that one of the teams loses. So, as always, you will have to make informed choices, as your bets will hinge on one another. However, although there are risks, the advantages outweigh the risks.
What is a Double Bet Calculator and How Do I Use It?
Once you decide to put our double betting explanation into practice, you might want to consider using a betting calculator. Here is how it can help you.
A double bet calculator allows you to calculate the profit on your bet in a quick and easy way.
Even if you know how to double bet, calculating your returns before you place a bet can be a hassle. With a double bet calculator, you simply enter the odds of your selections and your wager. As soon as you enter all the relevant data, the calculator will generate your returns.
Betting calculators will have a number of options which allow you to customize them to your needs. For example, you can change the odds format, add the each-way option, etc. So, needless to say, betting calculators will save you plenty of time and effort. This leaves you with planning and choosing the right market.
You can try out our double bet calculator by following the link below.
Link to Bet Calculator
All Your Frequently Asked Questions about Double Betting Answered
Now that you’ve gone through our double betting explanation and you have a clearer idea on how to double bet, you might still have some questions. So, feel free to take a look at our FAQ section for further clarification.
What is a Double Bet?
Here is a brief double betting explanation. A double bet is a multiple betting system, where you bet on the outcome on two separate events. You win the bet only if both of your selections win. Your returns are the combined value of the odds of two bets times your wager. You can find more on how to double bet by checking out our guide.
On which sports can I place a Double Bet?
You can place a Double Bet on nearly every single sports betting market. This betting type is versatile and simple, so you can use it on both sporting events and non-sport markets. Some of the popular sports where you can place a double bet include football, basketball, tennis and horse racing
What bookmakers offer this type of bet?
As double bets are a very popular betting type, you will find them offered at every online sportsbook.