Double Chance Market. How does it work? What does it mean in sports betting?
Surely on some occasion you were looking at the markets available in a football match and you have seen a market with three options that says “home or draw”, “away or draw” and “home or away”. In this article we are going to explain how the double chance market works and what it means in sports betting.
► How does the double chance market work in sports betting?
What we do with the double chance market is to cover two options for the final result of the match . Instead of placing a bet on home, draw or away winner, we cover two options. For example, if we make a bet in this market with the option “Home or tie”, we will win our bet only if the final result is the victory of the home team or tie, and we would lose our investment if the final result is the victory of the visitor.
Therefore, the options that exist and the possible results in the double opportunity market are:
- Home Winner or Draw -> We win our bet if the final result is a home win or a draw.
We lose our bet if the final result is the visitor’s victory.
This market is sometimes represented by 1X
- Away Winner or Draw -> We win our bet if the final result is the away win or a draw.
We lose our bet if the final result is the victory of the home team.
This market is sometimes represented by 2X
- Home or Away Winner -> We win our bet if the final result is the victory of the home or the visitor.
We lose our bet if the final result is a draw.
This market is sometimes represented by 12
► What is the difference between the Double Chance Market and Draw No Bet (DNB)?
In the double chance market we cover two options in such a way that if one of the two is fulfilled we win our bet. In the case of the Draw No Bet or Tie market, an invalid bet if the final result is a tie, the amount wagered is returned to us, that is, we neither win nor lose.
► When to bet on the double chance market
The double chance market gives us the option to increase our chances of winning our bet in percentage, although of course the price to pay for it is a lower fee and therefore a lower return in case of winning, losing all our investment in full. if we lose. The best scenarios to bet on the double chance market would be:
- We find value in one of the three options
- We trust one of the three options but want to ensure with the second most likely
► How to bet on the double chance market
From Betpractice we always advocate the study of any strategy or individual bet that we want to make, that is why both in the Pre-game tool and in the Explorer tool of our suite we can analyze the double opportunity market and see if there is value with respect to the odds that they offer us.
In the image above we can see the three options of the double chance market and the comparison of the real odds (in this case calculated with the data of the current season) with the odds offered by the bookmaker (in this case bet365). As we can see, there is value in the market as a local and away winner in the Croatia-Czech Republic match, as well as other options in other matches. The percentage in green color represents a positive value, therefore there is value, while the percentage in negative and in red implies that this market has no value.