What Is a Double Bet? Detail Explanation and Examples

Unlocking the potential for amplified winnings, the 'double bet' strategy stands as a compelling choice among seasoned bettors across top trusted betting sites. This popular betting tactic involves combining two carefully selected outcomes, offering an enticing opportunity for increased returns in various sports and events.

1. What Is a Double Bet?

A double bet is a type of wager that involves two selections. To win a double bet, both selections must be successful. If the first selection wins, the returns (the winnings plus the initial stake) are used as the stake for the second selection. This compounds the potential winnings, as the returns from the first bet are reinvested into the second bet.

The advantage of a double bet is that it offers higher potential returns compared to individual bets because of the compounded nature of the winnings. However, since both selections must win for the bet to pay out, the risk is higher compared to single bets.

2. Double Bet Example

Example 1 - Football Double Bet

You decide to place a double bet on two famous football teams in separate matches:

Match 1: Real Madrid vs. Barcelona

You bet on Real Madrid to win with odds of 2.00. If you place a $50 bet on Real Madrid and they win, your return will be $100 ($50 x 2.00 = $100).

Match 2: Manchester City vs. Liverpool

You also bet on Liverpool to win with odds of 2.50. If you place a $100 bet on Liverpool and they win, your return will be $250 ($100 x 2.50 = $250).

Now, with a double bet, your initial $50 winnings from the Real Madrid bet ($100 return - $50 stake) are rolled over onto the Liverpool bet. If both Real Madrid and Liverpool win their matches, your total return would be $250 ($50 x 2.00 = $100 + $100 x 2.50 = $250), resulting from the compounded winnings of both successful bets.

However, if Real Madrid wins and Liverpool loses, you would receive the $100 from the Real Madrid bet, but the double bet would fail since both selections need to win for the double to pay out.

Example 2 - Horse Racing Double Bet

Consider two different horse races:

• Race 1: Kentucky Derby - Horse A with odds of 3.00
• Race 2: Belmont Stakes - Horse B with odds of 4.00

You place a $50 bet on Horse A in the Kentucky Derby. If Horse A wins, your return will be $150 ($50 x 3.00 = $150).

The $150 becomes your stake for Horse B in the Belmont Stakes. If Horse B wins at odds of 4.00, your total return would be $600 ($150 x 4.00 = $600), combining the winnings from both races in a successful double bet.

3. How to Calculate Double Bet Winnings?

Calculating double bet winnings involves multiplying the odds of the two selections together and then multiplying that result by the initial stake.

For example, if you bet $20 on a selection with odds of 2.50 and another $20 on a different selection with odds of 3.00, the calculation would be:

Total odds = (2.50 x 3.00) = 7.50

Potential return = Total odds x stake 

So your winning payout will be: 7.50 x $20 = $150

Calculating potential returns for multiple bets can become complex when dealing with more selections and varied odds. Using a double-bet calculator simplifies this process. It's a handy bet calculator for both beginners and experienced bettors to understand the potential outcomes of their wagers before placing them.

>>> Visit our calculator to see detailed instructions and calculate your potential profit: Double bet calculator

4. FAQs

Q1: On which sports can I place a double bet?

Double bets are available across various sports where multiple events or matches occur. You can place double bets on sports like football (soccer), horse racing, tennis, basketball, and more. As long as the sportsbook offers the option to bet on two separate events, you can typically create a double bet.

Q2: What bookmakers offer this type of bet?

Most reputable bookmakers and online betting sites offer double bets. Large platforms like Bet365, William Hill, Ladbrokes, and others commonly provide this betting option. It's a standard multiple bet, so you'll find it available on platforms that offer diverse betting options.

Q3: What is an each-way double bet?

An each-way double bet consists of two bets: one to win and one to place (typically in the top positions). It's commonly seen in horse racing. If your selections win, both the win and place parts of the bet are successful. If one selection wins and the other places, the win part is settled as a winner and the place part as a loser.

Q4: What is a double vs exacta?

A double bet involves picking the winners of two different events or races. On the other hand, an exacta is a type of bet within a single race or event where you pick the first and second-place finishers in the correct order. While they both involve predicting outcomes, the scope differs—the double span multiple events, while the exacta focuses on a single event.

Q5: How to place a double bet on an online betting site?

1. Log In/Register: Sign in to your betting account or register if you're a new user.
2. Choose Events: Select two events you want to include in your double bet.
3. Add Selections: Click on the odds for each event to add them to your bet slip.
4. Select "Double": Look for the multiple betting options and choose "Double" or "2-fold."
5. Enter Stake: Input the amount you want to wager.
6. Confirm Bet: Review your selections and stake, then confirm your double bet.

The process may slightly vary depending on the specific betting site, but these steps generally outline how to place a double bet online.

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