In this article, I’ll be taking a look at double bets. I’ll be covering what they are, how to place double bets and what advantages and disadvantages of them are.
What Is A Double Bet?
A double bet is the simplest type of multiple bet. It is a form of accumulator bet, in which both selections must be successful in order for the overall bet to win.
Assuming the first selection wins, the winnings from this are carried forward and used as the stake for the second selection. It is popular with those who are comfortable with single betting and want to try something a little bit different and with those who are successful with single bets and want to improve the returns they are getting.
Example of a Double Bet
The bets are simple to understand, as the example below illustrates.
There are two horse races tomorrow. In the first race, Betfred are offering odds of 2/1 on Mr. Moneytree to win, and in the second race they are offering odds of 3/1 on Miss Surebet to win. You place a £10 double on this race, because you are confident that both horses are going to win:
In race one Mr Moneytree wins at 2/1, returning £30. This is then carried forward and used as the stake to back Miss Surebet, at odds of 3/1. She also wins, so your total return is £120 and your profit is £110.
When you compare that to the returns you would have had if you had placed two single bets at £10 each, you can clearly see that the profits have increased significantly.
How To Place A Double Bet
1) To begin with, and assuming that you are already signed in to your account, you need to pick the sport you are interested in from the menu on the left hand side of the homepage.
2) Clicking on the sport will open up a new page which lists all the events that are due for that sport.
3) Select all the events which you want to bet on by clicking in the box next to the time or date, and then click the little pencil icon to the right.
4) The screen will then refresh to show all your selections. You need to look down the list until you find the name of the team, horse, or whatever else it is you are interested in betting on.
5) To add a selection to your betting slip just click the selections designated odds.
6) Once you have selected both parts of your double, take a look at your bet slip which will be located on the right hand side of your screen. There will be an option at the top of it labelled ‘Multiple Bet Options’, and when you click it, it will show the options available for your bets.
7) Enter the stake you want to use (remembering that this is the total stake for the bet, not for each part) and confirm the bet. If you are betting on horse racing, you will probably notice that an each way option is also offered and if you want to take it then just click the box so that a tick appears in it.
8) Once the bet is placed you will see a receipt confirming the details, and your account will be debited by the value of your stake. If your double bet wins, then your winnings will be credited to your account automatically shortly after the result is announced.
Try a double bet out now at Betfred and get a great new customer bonus to get you started.
Double Betting Risks & Rewards
A double bet is slightly more risky than a single bet as you have to remember that both parts of the bet have to win for you to collect and if either part fails then your bet is lost.
For this reason, many people shy away from doubles and stick to placing a series of single bets instead as they reason that this will make them smaller but more consistent profit. Those who are successful at betting on doubles however can find that their profits increase at a much greater rate than if they were placing single bets.
If you fancy trying a double bet then head over to Betfred.com where you can get one of the best new player offers in the industry.