Double Bet | The Basic Parlay for Beginner Bettors
Double-bet accumulators are the simplest parlays, a fundamental form of multi-bet, consisting of just two selections. They combine games with lower odds to increase potential payout while keeping risks low. This betting guide explains how to calculate a double bet and suggests the best sports for this accumulator.
Compared to more complex forms of parlay betting, the double bet is less volatile. You still need to win both selections for this basic accumulator to pay. You can combine any sports and betting markets, pregame, and live events with no odds restrictions.
Best bookmakers for placing double bets in 21 November 2024 – Updated List
What is a double bet and how does it work?
For example, you can bet on Chelsea defeating Fulham in a Premier League match at a low betting odds of 1.40. The other selection in the double bet could be the horse Thunderbolt to win the opening Cheltenham race at odds of 5.00. If you were to bet $100 on each game, you would win $140, respectively $500.
Remember, a double bet requires you to select outcomes from two separate events, not from the same match or race. Assuming the net profit of $440 is not satisfying, you can combine these two types of sports betting in a double bet. You wager the entire $200 on the basic Ladbrokes acca, and if both Chelsea and Thunderbolt win, you’re paid at odds of 1.40 x 5.00 = 7.00. The payout would be $1400, and the profit would be $1200.
How to calculate a double bet
Once you learn how to place a bet online and understand what a single bet is, you are qualified to place your first double bet by adding selections to your bet slip. Upon adding the selections on the betting slip and entering the stake, the bookie will automatically calculate the profits, so you know how much you can win. Even though it might seem difficult at first, the math behind this process is surprisingly easy.
Example:
Placing a double bet – step by step
It’s so easy to learn how to place double bets that recreational punters and absolute beginners will have no problem using them effectively. Follow these 4 easy steps to place the easiest type of multiple betting:
How to use double bets in horse racing?
Betting on horse races is different, with each way betting, Lucky 15, and other special betting markets providing punters with unique options. There are many possible combinations, but if you are just learning what is a double bet in horse racing, these are the best options for beginners:
Risks and benefits of double bets
PROS
- The odds are multiplied so you can win more
- You can add more selections on the same betting slip
- Some bookmakers offer free double bets
- It is possible to combine bets from different sports
CONS
- Both selections need to win to make a profit
- Some bookmakers don’t offer the cash out feature on double bets
Use a double bet to maximize profits
You don’t need to be an expert punter to understand what is a double bet, as it is the most straightforward type of accumulator with potentially higher double bet odds. By choosing to add both your selections on the same betting slip you will multiply the odds, hence generating bigger potential winnings.
If you seek to boost your profits and make the most of the odds offered by the bookmaker, use the double bet as an effective instrument regardless of your sport of choice.
Double bet FAQs answered
A double bet is a type of wager that involves betting on two different outcomes. It combines two separate selections into one single bet, where the winnings from the first selection are automatically placed on the second.
You can place a double bet pretty much any sport that it is out there. The same goes for markets accepted, as you can combine main bets with special markets to create accumulators that contain two or more selections.
It is normally prohibited to place a double bet on the same match and some bookmakers don’t even allow punters to combine bets on the same team. However, there are sportsbooks that have introduced bet builders, which enable players to place a double bet on the same match.
The double bet has the merit of producing bigger winnings than single bets, as the odds are multiplied instead of added up. If you want to maximize your profits, then the double bet is the best option, but you need to make successful selections to win serious money.
The easiest way to calculate the profits resulting from a double bet is to multiply the odds on the betting slip. The bookie will do that on your behalf, as the odds for accumulators are automatically calculated.
Double bets can be used in live betting, even though they work a bit differently from traditional pre-match double bets, this adding more complexity to a double bet.
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