Section Background Image
Top 3 Online Sportsbooks
100%
Rating
*******
Bonuscode
100% up to
$500
13
Sports
Mobile / App
98%
Rating
*******
Bonuscode
100% up to
$100
14
Sports
Mobile / App
97%
Rating
*******
Bonuscode
100% up to
$500
12
Sports
Mobile / App
All Sportsbooks
Richard Miller
Author:
Richard Miller
Last Updated:
November 6, 2020
Approved
Author
This author was thoroughly tested and approved by the experts at BettingBilly.com before joining the editorial board to ensure a high content quality.
Author Bio:
 
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.

Double Bet Explained in 2020

A double bet is a great alternative to single wagers. It means that you are taking two bets and you are rolling them into one.

When you combine two single events into one bet, you increase your odds, potential winnings and can place lower stakes. This is perfect if you are a budget bettor. You don't have to back each wager with a large stake and you can still win quite a lot of money.

What's a double bet?

A double bet is when you include two single events in one wager. This means that instead of betting on games separately, you put them in one betting slip.

Let's explain how a double bet works by analyzing the following individual wagers:

Single BetAmerican oddsDecimal oddsStakeTotal WinningsProfit
Philadelphia Eagles to beat New England Patriots-1251.80$10$10*1.80 = $18$8
Single BetAmerican oddsDecimal oddsStakeTotal WinningsProfit
Dallas Cowboys to beat Seattle Seahawks-1431.70$10$10*1.70 = $17$7

As you can see, with two individual bets, you will get a combined profit of $15 from the two football wagers. You will win $8 on the Eagles and $7 on the Cowboys. You will get this profit by staking $10 on each game or $20 in total.

Let's now see what combining these two selections into one double bet will do:

Double BetAmerican oddsDecimal oddsStakeTotal WinningsProfit
Philadelphia Eagles to beat New England Patriots-1251.80$20$20*1.80*1.70 = $61.2$41.2
Dallas Cowboys to beat Seattle Seahawks-1431.70

Backing a double bet is much more profitable than backing two single wagers. This is because the combined odds of the two games are multiplied and that results in much bigger winnings.

And while it is much better to have a profit of $41.2 instead of just $15, there's a dual bet trade-off that you have to be aware of.

To win a double bet, both the Eagles and the Cowboys will have to triumph. That's not the case with singles obviously as each football game is an individual wager. Even if one loses, you can still win the other bet.

Placing a double bet explained: Step-by-Step

Placing a double bet is as simple as placing an individual wager. Even if you are a betting beginner, you will have no problems betting on dual wagers, especially not if you follow these steps:

Steps Box Background
  1. Open a betting account at a reputable and reliable sportsbook. The 5 betting sites listed below are great in this regard.
  2. Once you open that account, you need to deposit some money onto it.
  3. It's a smart betting move to check for a new customer bonus when you deposit money for the first time. A welcome bonus can increase your wagering funds and can make a dual bet even more profitable.
  4. Choose the sports that you want to bet on.
  5. Select the competitions that you are planning to wager on.
  6. Pick your games and then choose your bet. Most sportsbooks will let you wager on any betting market when compiling that double bet.
  7. After you include the two betting selections on your slip, you should place your stake and submit the bet.
All Sportsbooks

Usual sports for placing a double bet

A double bet can include games from most sports out there. These bets are particularly popular in sports such as baseball, football, soccer, basketball, hockey, and horse racing.

When placing a dual bet, you can combine selections from different sports and not just from one. Let's see how a double bet would work if you were cross-betting on a basketball and a hockey game:

Double BetAmerican oddsDecimal oddsStakeTotal WinningsProfit
Toronto Raptors (-9.5) to beat Chicago Bulls (+9.5)-1101.91$10$10*1.91*1.93 = $36.8$26.8
Boston Bruins - Seattle Seahawks Over 5.5 Goals-1081.93

As you can see, the dual bet above is not only from two different sports, but it also has two different types of bets. Lots of bettors think that you can only bet on a 2-way or 3-way moneyline markets in double bets, but that's not the case. In the bet above the player is wagering on an NBA point spread betting line and an NHL goal total market.

Lots of bettors also place double bets on horse racing events such as the Kentucky Derby and the Preakness Stakes. In fact, chances are that the first-ever dual bet was placed on a horse race as the sport has been around for ages.

Example of a double bet

As with any other bet, dual wagers can be either winning or losing ones. It's important to know that for a double bet to be successful, both selections (legs) must be successful too.

Winning example of a double bet

Let's say you made an NFL and NBA dual wager. For your bet to be a winning one, both legs must come to fruition.

Double BetFull-time ResultSelection SuccessBet Success
Green Bay Packers to beat Chicago Bears21:13SuccessfulSuccessful
LA Lakers - Cleveland Cavaliers Over 204.5 points102:104Successful

This is a winning example since the Packers won and the NBA game ended with more points than the predetermined limit.

Losing example of a double bet

Let's say that on a different betting slip you made a baseball and soccer combo.

Double BetFull-time ResultSelection SuccessBet Success
New York Yankees to beat Toronto Blue Jays2:4UnsuccessfulUnsuccessful
Columbus Crew SC - Chicago Fire: Both teams to score: Yes1:1Successful

Unfortunately, one of the selections wasn't successful and the dual wager as a whole is also a losing one.

Current Sports Picks
Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed
Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed
Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed   Closed

Double bets for beginners: How to bet

Dual wagers can be quite profitable, but you have to approach them in the right way. There's no point in placing a dual bet if you don't do your sports betting homework first. Here are a few tips on how to improve the success of each dual bet:

  • Tip 1: Always analyze things such as form, head-to-head matches, and missing players. These are particularly important if you are backing one of the teams to win in the match-winner market. In-form teams are always a better option when looking for a nailed-on winner.
  • Tip 2: Back strong favorites on your dual betting combos. These are almost certain to win and including them in a double bet is a no brainer. What is more, when you combine two selections of this type, you compensate for the low odds that each of them comes with.
  • Tip 3: Include tips and predictions from betting professionals. Sports betting advice that comes from reliable sources is always a must in a double bet. For instance, the tips on Billy's list are super-accurate and it’s free to sign up for them.
  • Tip 4: Don't combine two risky legs. Instead, look to balance a riskier wager with a safer bet. This will mean that you worry only about one selection.
  • Tip 5: Start with lower stakes and increase them as you grow in confidence. This is essential gambling advice and should be heeded for any type of bet. You don't want to end your betting adventure prematurely because of two high-roller bets.

Don't miss my latest betting secrets!
Join the waiting list now for the best betting pick service in the USA!
Sign up now

Double bets for professionals: How to bet

Betting beginners can profit from dual bets, but wagering professionals can become a sportsbook's nightmare. Dual bets can be very lucrative if you use the right betting strategy.

One approach that has a lot of potential in this regard is hedging your bet. You can use this approach to make sure that you make some profit from the double bet when one of your legs has already come to fruition.

Let's say that you were betting on the 49ers and the Seahawks to win. The 49ers already won so now all eyes are on the Seahawks. However, you are having second thoughts about the Seattle side winning, so you are looking for a way out.

If that game still hasn't started or is available in the live betting section, you can safeguard your bet. To do this, you should place a bet on the Seahawks to lose. You will likely do this with a smaller stake as you still want the Seahawks to win and this is just an added protection for that bet.

Checking if a sportsbook has a cash-out feature is also helpful in this regard. When you cash out, you settle for lower winnings, but your bet is paid out before all selections are completed.

You can activate the cash-out option when the betting site allows you to. The amount of money that the sportsbook will offer will reflect the likelihood of your bet coming to fruition at that point.

Betting on double wagers: Try it now at one of the top 5 betting sites

Wagering on a double bet enables you to win big with only a small stake. However, to be sure that those large winnings are as high as promised, you must only bet at reputable sportsbooks. The top 5 betting sites listed here certainly fit that description.

 
Choose your state
Colorado
Illinois
Indiana
Nevada
New Hampshire
New Jersey
Pennsylvania
West Virginia
Filter
100%
Rating
*******
Bonuscode
100% up to
$500
13
Sports
Mobile / App
98%
Rating
*******
Bonuscode
100% up to
$100
14
Sports
Mobile / App
97%
Rating
*******
Bonuscode
100% up to
$500
12
Sports
Mobile / App

Ask Billy: Frequently Asked & Answered

Conclusion: Double bet - get larger winnings with smaller stakes
Dual bets are greater than the sum of their parts. They trump individual wagers as you can place lower stakes and get larger potential profits due to their superior odds. However, you have to know that for a double bet to be a winning one, both selections in it have to be successful. If only one leg of the dual wager lets you down, you lose the bet.
Find the best Sportsbook now!