What is a Double Chance Bet and How Does it Work?

A Double Chance Bet provides punters with two-outcome coverage in a three-way market - for example home win, away win and draw - in a single bet with a single wager.

It is most commonly used in football betting and is often utilised as an Insurance Bet, due to its status as a low-risk, high-probability strategy that reduces the peril of relying on outright outcomes.

What are the Three Double Chance Options (1X, X2, 12)?

Here is the standard betting notation for Double Chance bets:

1. 1X: Home Team wins or Draw.
2. X2: Away Team wins or Draw.
3. 12: Home Team wins or Away Team wins (no Draw).

For example, in a game between Home Team and Away Team, when assessing 1X, X2, 12 betting, '1' would represent Home Team, '2' Away Team and 'X' the draw.

A Home Team win or draw would be represented as '1X' on a Sportsbook. Similarly, 'X2' would be used for a draw or a win for the Away Team. Finally, '12' would be the notation for a Home Team or Away Team win.

Why is Double Chance Considered an Insurance Bet?

A Double Chance wager is considered an Insurance Bet as it covers two of the three possible match outcomes, enhancing the chances of winning and insuring a punter against incidents that can heavily impact a game, including uncharacteristic individual errors or early red cards.

Odds for a Double Chance bet will be lower than a straight win bet, reflecting the reduced risk and higher probability of winning.

This makes it an ideal option when backing an underdog currently in good form, or to mitigate the risk when selecting the favourite who may be experiencing tactical difficulties. 

Including a secondary outcome may result in a win, even if the preferred pick isn't correct.

How Does Double Chance Compare to the Match Result (1X2) Market?

Using our example of Home Team vs Away Team, here are two odds tables for a hypothetical fixture, the latter featuring Double Chance odds when used as a comparison to match result betting.

Win Market

Double Chance

As the tables demonstrate, a single Double Chance bet offers a Lower Odds/Higher Probability option by covering approximately 66.6% of the outcomes, often resulting in lower prices in comparison.  

When is the Best Time to Use a Double Chance Bet?

The Insurance Bet nature of Double Chance means it can be a strong option when backing an in-form underdog. For instance, in the above table, Away Team are a tempting price, but remain decent odds when supported to avoid defeat.

Similarly, this can help when backing a strong favourite, albeit one with key players unavailable. This heightens the chance of a draw being the outcome, so Double Chance may cover a slip-up, although at heavily reduced odds.

Another Double Chance option is its inclusion in an accumulator strategy. This can serve as an additional risk mitigation strategy, providing a safer leg while increasing the overall odds.

Are There Any Drawbacks to Betting Double Chance?

While having the safety net that a Double Chance bet offers, it does also have drawbacks.

Odds are significantly lower than in three-way match markets, often resulting in poor value on favourites.

These reduced payouts can lead to increased punting activity and larger stakes to try to offset any perceived shortfall in winnings.

Experienced punters will also point out Double Chance's lack of flexibility and limited availability in other sports besides football.

It can also be less profitable than alternatives such as Asian Handicap and Draw No Bet.

How Do I Place a Double Chance Bet?

The process for placing a Double Chance Bet is simple. Navigate to the preferred Sportsbook and select the chosen match. 

The Double Chance markets are often located among the first markets below the full-time prices. 

Pick the desired combination, insert stake where required (often on the right and side) and confirm your bet by clicking the appropriate button below.