What is a Double bet?
A double bet is where the punter places a bet containing two selections. Both of these selections are part of the same bet and both parts of the bet must win for the punter to see a return. A double bet is extremely popular as it gives the chance of a greater return even when betting on low odds selections. This is because the odds (decimal) are multiplied together and then multiplied by the stake to work out the return.
An example of this would be as follows:
|Market||Selection||Odds Fractional||Odds Decimal|
|Sunderland vs Newcastle||Sunderland to win||2/1||3.0|
|Manchester United vs Arsenal||Arsenal to win||2/1||3.0|
This would mean that the total odds for this double bet would be 8/1 (9.0) and give us a return of £8 on a £1 stake plus our £1 stake returned. This means that 2 relatively low odds bets give a much higher return than placing 2 single bets on the same two events. However both selections must win for us to see a return. If one selection loses then the bet is lost and we would have lost our stake.
Double bets are very popular in horse racing and football. Both selections must be on different events ie 2 separate horse races or 2 separate football matches. You cannot do a double on 2 horses in the same race for example as only 1 outcome can win.