Double Bet Calculator
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Double Bets Explained
A Double Bet is a single wager placed on the outcome of two different selections. Both selections must win to receive a payout. If either selection loses, the entire bet is lost.
When you win, your total payout is calculated by multiplying the odds of both selections together and then multiplying by your stake. This means that the potential returns can be significantly higher than with a Single Bet. However, since both selections must be correct, the risk is also greater.
Double Bets are a popular way to increase potential profits while still keeping the bet relatively simple compared to more complex accumulators. They are commonly used in football, horse racing, tennis, and many other sports.
One common strategy is to use a Double Bet when you have two strong selections with moderate odds. By combining them, you can get better value than placing two separate Single Bets.
A Double Bet is the most simple ‘multiple’ bet, as it only requires two selections. A multiple bet is any bet that requires you to have more than one selection.
Try different combinations of selections in the Double Bet calculator to see how your bet could play out.
Double Bet Example
Suppose you are betting on two football matches with the following odds:
Manchester United to win: 3/1
Liverpool to win at 2/1
If you place a £10 Double Bet on both outcomes, your potential payout is calculated as follows:
- First selection winnings: £10 × (3/1 + 1) = £40 (including stake)
- Second selection winnings: £40 × (2/1 + 1) = £120 (including stake)
Total return: £120
Total profit: £120 – £10 stake = £110
If either Manchester United or Liverpool fails to win, you lose your entire £10 stake.
Each Way Double Bets
An Each Way Double Bet works similarly to an Each Way Single Bet but applies to two selections instead of one. This bet consists of two parts:
1. A Win Double, where both selections must win for a payout.
2. A Place Double, where both selections must place within a specified range for a reduced payout.
Each Way Doubles are commonly used in horse racing, where placing each horse within a specified position still results in a partial payout. The place odds are usually a fraction of the win odds, as determined by the bookmaker. E.g. one quarter or one fifth of the win odds.
Pros and Cons of a Double Bet
Pros
✓ Higher potential returns – Since the winnings from the first selection roll into the second, the payouts are much higher than Single Bets.
✓ Simplicity – While slightly more complex than a single bet, they are still relatively simple compared to other multiple bets.
✓ Increased value – If you are able to correctly identify ‘value’ selections, combining them in a multiple bet can enhance your value.
Cons
❌ Higher risk than a Single Bet – Both selections must win; one loss means the entire bet is lost.
❌ Limited compared to accumulators – While it increases the payout potential, it doesn’t offer the massive returns of trebles or larger accumulators.
❌ Not as exciting for risk-takers – If you enjoy high-risk, high-reward bets, single bets might seem less thrilling compared to accumulators.
❌ Limited Diversification – An each way bet is the only option to provide a payout if your selection does not win. Other bet types limit risk by still providing payouts if some of a number of selections lose.
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