What is a double bet?

A double bet involves placing a single wager on two different selections across two separate events, with both selections needing to win in order for the bet to be successful. This type of bet combines the odds of the two selections, offering the potential for a higher payout than if each selection were placed as a separate single bet. Double bets are popular because they provide an opportunity for greater returns while keeping the betting process relatively simple and straightforward.

To place a double bet, the bettor chooses two participants or outcomes from different events. For example, they might pick one horse to win a race at one location and another horse to win at a different race. Both selections must win for the bet to pay out. A key point is that double bets are only valid when the selections are from separate events, such as two races or matches, and cannot be placed on different positions within the same event, like a forecast bet.

Double bets are particularly appealing because they offer higher returns compared to placing two single bets on the same selections. The potential winnings are calculated by multiplying the odds of the individual selections. The first bet's winnings are then used as the stake for the second bet. However, the bet will lose if either of the selections fails to win, making it riskier than placing two separate single bets.

Bettors can also enhance their strategy by using free bets for doubles, which allows for the possibility of large payouts without any financial risk. Additionally, there are variations of double bets, such as each-way doubles, which provide a slightly safer option. In an each-way double, the selections only need to place in the top positions (usually the top three) to guarantee a payout, though the payout is typically smaller than for a win. This makes each-way doubles a popular choice for those looking for a less risky betting option.