Online Bookie Playbook: How to Calculate Double Chance Odds

Dec 23, 2016 | BookieU

According to the BBC, sports game betting is worth between $700 billion and $1 trillion. Much of that money comes from soccer betting. Which is not only the most popular sport in the world but the most bet on competition around the globe. And double chance odds and betting provide bettors with plenty of profits. When it comes to soccer betting, the 1x2 bet is typically the most popular. Rather than using a three-way bet, the double chance (also known as draw no bet) tends to be better value for returns. However, one the biggest questions online bookies have is: how can bettors use 1x2 odds to place double chance bets for higher profits? PayPerHead will explain.

Double chance betting

A double chance bet allows bettors to wager on two outcomes of the same game. Bettors can wager on the home team and a draw, or the away team and a draw. You can also win by betting on the home or away team to win. Double chance betting allows you to cover two of the three outcomes. But double chance odds can change accordingly.

Double chance odds

Since the win-draw odds are shorter than the individual odds for a win or a draw, double chance odds may not be as lucrative. This is due to the chances of a win or draw occurring being greater than the individual results. Because double chance odds of winning are greater, online bookies need to offer less than the individual options.

Calculating a double chance bet

Calculating double chance odds can be easy, and bettors can figure out the potential payout when filling out their betslips. If Stoke is the home team and Liverpool the away team, the double chance odds calculations will look as follows:

Home win/draw

The money that a bettor will wager is called the total and our equation looks quite simple once you get the hang of calculating it. For a home win: Wager on Stoke to win at home = draw * total / (draw + Stoke) Wager on Stoke and Liverpool to draw = total – wager on Stoke to win

Away win/draw

Wager on Liverpool to win away = draw * total / (draw + away) Wager on Stoke and Liverpool to draw = total – wager on Liverpool to win

Home win/away win

Wager on Stoke to win = Liverpool* total / (Liverpool + Stoke) Wager on Liverpool win = total – wager on Stoke to win

Are double chance bets profitable?

There are times when a double chance bet will return large profits. However, due to the double chance odds being typically lower than individual odds, bettors can lose out on potential profits. In the end, double chance odds allow for safe bets. Bettors wagering a large sum could get a nice return if one of their selections comes through. Get the best price per head software, get PayPerHead’s premium software solution for only $6.50 per head. That’s half off! Get it today before this deal is gone.