Sports betting is a fast-paced, exciting hobby - but one that comes with a lot of risk. In order to be as informed as possible when gambling on sports, you must stay up-to-date with sports betting terms and jargon.
Unfortunately, the sports betting industry is full of confusing terms, so much so that we have created an entire sports bet glossary that briefly outlines what these terms mean.
Here, we put the focus on double betting. Keep reading as we explain a double bet, why it has become so popular with sportsbook gamblers, examples of doubles, the pros and cons, how to improve your doubles, and plenty more.
What is a Double Bet?
A double bet is a wager with two picks, often from different sports fixtures. It could be a wager on a team to win at home in the NFL and a second bet on a team to win away in the Premier League.
To clarify, the sports, markets, and predictions aren’t important in making in a double bet. If you have two selections from different events on your bet slip and you predict they’ll both win, you have yourself a double bet. As you’re backing both picks to win, you need just one stake as you’re combining the picks for a crack at better odds.
When adding selections to your double and placing one stake, you have one bet. If both picks win, you land the returns. If one pick wins and the other loses, the bet is a loser, and the bookie keeps your stake. Remember, despite having two selections, both must win for your bet to be settled as a winner and the profits paid to your account.
You can back your picks as two singles and keep them separate. But if you fancy both strongly, adding them to a double means you can greatly enhance the potential payout from that bet. With a double, the winnings from leg one of your bet roll over to leg two, like a two-team parlay or accumulator. We explain more with the examples further on in this guide.
The Basics of Double Betting
Double betting is great if both selections have modest odds but you wish to take more of a risk in the hope of landing a bigger profit.
I you don't want to risk a double bet, then you can back one team to win and target a small return and then back the next team to win and aim for a return. That’s a much safer approach than placing a double, as the results aren’t connected, and you need just one team to win to secure a return. However, two singles means two stakes.
When betting on singles, you can half your stake and share it across both bets. But when gambling on a double, you need just one stake and the potential returns are often much higher than those backing singles. Betting on doubles is an affordable wager that ramps up the potential profits. Spread your picks across different times, and you could enjoy a value-for-money gamble that lasts several hours and all for that one stake.
Double betting is easy to understand, improves the potential winnings, could be cheaper than placing two singles, and often gives you a few hours or even days of enjoyment following your bet and ticking off the correct results.
Double Bet Examples
Confused? Don't fret. When explaining types of bets, it’s often better to give an example, as it helps make things clearer. In this section of our article, we explain a double bet and provide working examples of soccer and horse racing, which are extremely popular sports in the gambling industry. Many online gamblers place doubles on these sports every day.
Here’s an example of a double bet on the opening day of the English Premier League season:
Arsenal to beat Wolves
Everton to beat Brighton
$10 double pays $29.94.
With the above example, you could place single bets, betting half your stake and back Arsenal to beat Wolves for a shot at winning $6.11 and then back Everton to beat Brighton to win $12.25. This would bring your total winnings to $18.36.
But if you combine both picks in a double, the same $10 has the potential to pay almost $30. Remember that this is with only a $10 wager - imagine if that wager was $100, or even $1000 dollars, and the difference a double bet could make when compared to two singles. That shows if you fancy both teams strongly, it’s worth adding them together to create a double bet.
Here’s an example of a double bet on UK horse racing at Epsom:
Attack - 5.55 Epsom
Hello Cotai - 6.30 Epsom
$10 win double pays $49.87.
When placing a double on horse racing, you must show you’re backing both runners to win their races, as you could also play a double on other markets, including both to place or each-way betting. With this example, it’s a win double.
Again, backing each horse as a $5 single improves your chances of securing a return, but both picks are favorites with short odds attached. To improve your returns, it’s worth adding your selections to a double, and you could win close to $50 off the same stake!
Understanding Double Bet Odds
Now you know how double bets work, but how do you work out what a double will pay if both selections win? Thankfully, most gambling apps will do that for you when you add two picks to your bet slip and input your desired stake into the double field. But we can’t always rely on technology, and it’s worth learning how you calculate the odds of a double yourself.
When attempting to calculate the odds of a sportsbook double accurately, it’s worth remembering the nature of the bet. The winnings from the first leg roll over to the winnings of the second leg.
The best way is to convert the odds of both bets into the decimal format, such as 2.0. When you have the two odds in decimal form, you simply multiply the decimal odds from bet one by the decimal odds of bet two to create the odds for the double.
Pros and cons of double betting
Pros:
- One stake.
- Potential for higher winnings.
- Easy to calculate.
- Play across different sports or competitions.
Cons:
- A double is more difficult to land than a single.
Is Double Betting Worth it?
That’s a question many gamblers ask themselves when they are learning the ropes of online gambling. Is it a worthwhile wager, or is a double just greedy? It’s no secret that backing singles is the best way to secure a long-term profit from your gambling. But there’s certainly a place for doubles, even for experienced and professional gamblers.
Doubles are ideal if you have two strong predictions, especially on picks with short odds. Backing a double for one stake over two singles at short odds is often worthwhile. You can create a double across two sports or fixtures, extending your coverage and enjoyment. If there are two important fixtures on one day or one weekend, why not add your picks to a double, then sit back and enjoy the sport?
Please keep in mind that as you have one stake, it’s one bet. Both parts of the double must win for your wager to land a profit. If one pick fails to win, your bet is a loser.
Improve Your Betting Knowledge With Whop
If you’re eager to improve your betting knowledge, Whop is here to help. We have hundreds of sports betting communities available at your fingertips. Learn how to beat the bookies from the experts, including tried and tested strategies, or follow the predictions of trusted handicappers.
In betting, the more you know and understand the industry, the greater your chance of landing a profit from your wagers. Don’t leave your betting to chance. Follow the professionals and learn as you play.
Double Bet FAQs
How to place a double bet?
Open your online betting account and click the odds of two selections from different fixtures to add to your bet slip. Scroll to the stake field and input your desired stake to cover both bets. You’ll see the potential returns, and if everything is to your liking, click to confirm.
Are double bets good?
Double bets are an exciting and affordable way to gamble on sports. It gives you an interest across two sports or fixtures and increases your potential returns. Double bets are great if you’re following two picks at short odds. There’s more risk involved than backing two singles, but the rewards are often worth chasing.
Can I cash out a double bet?
Most online bookmakers allow you to cash out your doubles. The best time to cash out a double is when your first pick wins, and the sportsbook offers you an attractive deal to end the wager before the second leg begins.
Ready to level up your sports betting knowledge and strike rate? Join a sports picks community on Whop today.
