Why Bet on Doubles?

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  3. Why Bet on Doubles?

A lot of people think that betting on singles is the best way, whereas bookmakers are often advertising multiples and accumulators.

So which is best?

Well actually, neither is best, as both have their advantages.

The two things main things to consider when picking a bet is the probability of it winning and the odds that are available.

Bookmakers employ teams of traders who work out the chances of something happening and then set the odds accordingly. Actually, they set them lower, so that the value is on their side.

We then do the same and if we think the bookmaker’s odds have been set too high, then it’s a value bet for us.

If the odds and probability are the same, in the long run after placing many bets, our profit would be nil.

So where do doubles come in to this?

Well, when you place a double bet, there are four scenarios.

  • Both bets win
  • The first bet wins but the second loses
  • The first bet loses but the second wins
  • Both bets lose

Below, you can see how the profit/loss would look if the bets are placed as singles at odds of evens (2.00).

 

Horse 1 Horse 2 P/L Singles P/L Doubles
Win Win +£200.00 +£300.00
Win Lose +£0.00 -£100.00
Lose Win +£0.00 -£100.00
Lose Lose -£200.00 -£100.00
Total +£0.00 +£0.00

 

Now if we do the same thing but change the odds to 6/4 (2.50), see what happens.

 

Horse 1 Horse 2 P/L Singles P/L Doubles
Win Win +£300.00 +£525.00
Win Lose +£50.00 -£100.00
Lose Win +£50.00 -£100.00
Lose Lose -£200.00 -£100.00
Total +£200.00 +£225.00

 

We make an extra £25.00 simply by playing the bets as a double.

Combining two selections into a double gives you the chance to make more profit than you would if you bet on them as singles.

This is because rather than adding the winnings together, you are multiplying them for double bets.

You are getting more of an advantage against the bookmaker just by putting the two selections together. Although, this is only the case if you have correctly estimated what the odds should be.

This is where we come in!

We source the value bets for you and all you need to do is place the bets and watch your betting bank grow.

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