How profitable is Double Chance betting?
This is a very important thing to ask. What would be more profitable? Placing two single bets – one on the draw and one on favourite team or go for the double chance? Before you read any further, if you are not sure what double chance is, make sure to learn the basics about double chance betting.
To compare the profit you simply compare the payout of the regular 3 way result and the payout of 2 way result by using the odds of 1X instead of 1. See the examples below.
Let’s say I am 90% convinced that Leicester takes the win, but don’t want to risk those 10%.
To see how good the double chance odds for 1X stand, we simply compare the odds 1.47 and 2.65 from the 3 way offer. With the bookmakers payout calculator we end up by 94.45%, which is 1.10% higher than placing a single bet.
With the odds offered by bookie we have the Bookmakers payout 93,51%.
Now to see the profit, we compare the odds 3.05 and 1.34 and get to Bookmakers payout 93.10%. In this case the 3 way result is 0.4% higher than the double chance.
In the last example I picked 2 teams from the lower part of the table. Both of them are able to surprise and now towards the end of English Premier League they want to stay there in the next season as well. The result can go all ways, but I believe one or the other team will dominate and Double Chance 12 is the perfect choice for me.
93.16% is the Payout rate in the 3 way result.
Now looking at the Double Chance of 12 (Home win or Away win), we end up with 92.23% payout, which is 0.93% lower than the 3 way result.
From the above examples we see the hidden tricks the bookies play on us. Fair enough, but make sure to do your homework and check which way to go. We never said that making money by betting was an easy task.