The Sports Betting CanadianA double chance bet is a twist on the classic 3-way bet (which you can read more about here).  Instead of betting on one of the 3 outcomes (team A/draw/team B) you are betting on at least one of 2 of the outcomes happening.  So in reality you’re betting against one of the 3 outcomes.

Sports Betting Canadian Soccer MascotQuick tip: Always calculate the double chance odds vs the 3-way odds.  More on this at the bottom of the page.

Example

The best way to explain the double chance bet is to compare the odds to a 3-way bet with the same outcomes.  For this example I’m going to use a Champions League game between Arsenal and Barcelona.  The 3-way odds and the double chance odds are below (taken from Bet365):

3-way vs double chance

The 3-way odds (Full Time Result) are as follows:

Arsenal 5.00
Draw 4.00
Barcelona 1.61

While the double chance odds are:

Arsenal or Draw 2.30
Draw or Barcelona 1.18
Arsenal or Barcelona 1.25

If I thought Arsenal was being overlooked in this game, but I wasn’t sure they would win in regulation, it might make sense for me to take the ‘Arsenal or Draw’ double chance bet.

That said, the double chance odds are just the 3-way odds from both the Arsenal outcome and the Draw outcome combined into one.  It’s important that you perform a quick calculation to figure out if it’s more advantageous to take the ‘Arsenal or Draw’ double chance bet or to split up your bet between the ‘Arsenal’ and ‘Draw’ 3-way bet options.

How To Calculate Correct Double Chance Odds

To be a winning sports bettor it’s important to always make sure you’re getting the best possible return on your investment.  For this reason you should always break down the 3-way bet option vs the double chance bet to see which odds give you the best returns.

Let’s continue with the example of wanting to bet against Barcelona winning in regulation.  If I place a $100 double chance bet on ‘Arsenal or Draw’ I would receive a payout of $230 as long as Barcelona doesn’t win the game in regulation.

Now let’s split up our bet between ‘Arsenal’ and ‘Draw’ in the normal 3-way betting to make sure the $230 double chance bet pays out more than splitting our funds.  The first thing I do is divide the double chance payout ($230) by the odds of Arsenal winning (5.00) to figure out how much I would have to bet on Arsenal to get the $230 payout.  ($230/5.00=$46).  This leaves me with $54 ($100-$46) to bet on the draw.  At odds of 4.00 I would receive a payout of $216 betting on ‘Draw’ from the 3-way bet.  The $216 is less than the $230 I would get from a draw if I took the double chance bet.  So in this instance it makes more sense to bet with the double chance odds.

Reading that last few paragraphs I found it hard for even me to follow, so here’s it broken down once again.

  • $100 on Arsenal or Draw @ 2.30 – Wins $230 if Arsenal or Draw
  • $46 on Arsenal @ 5.00 – Wins $230 if Arsenal
  • $54 on Draw @ 4.00 – Wins $216 if Draw

If Arsenal wins you win equal in this example, but if it’s a draw you win more from the double chance bet.

The double chance odds won’t always give you a better payout than the 3-way odds, so it’s important to do some sort of calculation like this when placing these bets.