In this informative post, we will explain everything you need to know about “double chance” betting and how to calculate the chance odds in horse racing.
When one considers the popular three-way market, then, in theory, you have a 33.33% chance of winning by selecting either a win, place or show bet. With double chance betting, however, you can potentially increase your chances of winning to 66.66%. This makes it an avenue worth investigating! If you were more into Casino’s instead of horse racing, there are tonnes of casino offers around for you to get your hands on.
To start, let’s take a look at the meaning of ‘Double Chance’.
What Is Double Chance Betting?
Double Chance betting refers to the instance where you win if you correctly select the winners of two consecutive races.
* It’s important to note that Double Chance differs from the Draw No Bet market i.e., there’s no refunding of stakes in the event of a draw.
Double Chance Bet Examples
With reference to the 3 available betting options, here’s what needs to happen in order for you to make a win:
- Win. Your horse comes in at first place in two consecutive races.
- Place. Your wager wins if your horse is placed 1st or 2nd in two consecutive races.
- Show. You win if your horse is placed 1st, 2nd, or 3rd in two consecutive races.
How to Calculate the Cost of a Double Wager?
While there are many online calculators that can make this task easier, we’ll look at how you can do your own calculations if you do not have access to an automatic calculator.
To calculate the odds of a double wager, you need to multiply the number of horses in the first leg by the number of horses in the second leg. You take this sum and then multiply it by the amount of your Daily Double.
For instance – if your daily double costs £2.00, then the equation will be as follows:
1 X 1 X £2.00 = £2.00) – here, we have selected one horse to win the 1st race and one horse to win the 2nd race.
You can also choose more than one horse in each race in your Daily Double.
E.g. here is a £2 Daily Double Part Wheel – Horse 1,2,4 with 1,5,7.
The sum of this bet is calculated as follows: (3 X 3 X £2.00 = £18.00).
In this example, 3 horses were selected in each race. You have now increased your odds of winning by 9 (3 X 3 = 9). Each set and combination costs £2.00, making the total amount of the wager £18.00.
Another version of this betting type is the £2 Daily Double Wheel. When placing this wager, you choose one horse in the first race and all possible horses in the second leg of the race. I.e. let’s suppose the second race has ten horses in it. The sum of this bet would be (1 X 10 X £2.00 = £20.00).
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