How Double Chance bets are calculated?

what is the formula to calculate double chance bets?

Intro for How Double Chance bets are calculated?: what is the formula to calculate double chance bets?

What are Double Chance Bets?
Use the odds to calculate the stakes for Double Chance bets
Betting Odds Double chance against a bookmaker's odds for winning or drawing

The double chance betting market and arbitrage bet finders share a unique relationship that can potentially benefit many bettors based on SportsSmartBetting. Double chance betting, which entails wagering on two out of three possible outcomes in a match, offers bettors a higher probability of success due to the increased market coverage.

Arbitrage bet finders, on the other hand, are tools designed to identify discrepancies in odds between your local bookmakers, thereby allowing bettors to exploit these differences to guarantee a profit regardless of the match outcome.

By combining the inherent advantages of double-chance betting with the opportunities presented by these tools, bettors can basically mitigate risks and improve their betting volume as well.

What are Double Chance Bets?

Basically, Double chance bets offer the possibility to bet on two results of a match, eliminating the third option: that is, it is possible to bet on the home team and on the tie or on the away team and on the tie. Instead, the drawback option gives you a lower odds on the winning team and simply refunds the bet if the game ends in a draw.

Bookmakers often offer this kind of market, but is it possible to get a better value by calculating their odds Double chance bets using 1X2 odds?

On Pinnacle a bet with a handicap of +0.50 would work perfectly as a double chance bet. However, we do not offer 0 and 0.5 handicaps for all games, so it may be worth knowing how to calculate your Double chance bets odds.

Double chance bets are used in different sports especially football games. The following are the three formulas to calculate double chance bets. The first formula is when you want to calculate '1X' games. (Odds of Home Team * Odds of Draw) / (Odds of Home Team + Odds of Draw); so if the Odds of Home Team is 1.8 and Odds for draw are 3.3 the result will be (1.8 * 3.3) / ( 1.8 + 3.3)=> 1.17 (always rounded up to 2 decimal places).

The first formula is when you want to calculate '12' games. (Odds of Home Team * Odds of Away Team) / (Odds of Home Team + Odds of Away Team); so if the Odds of Home Team is 1.8 and Odds of Away Team are 6.2 the result will be (1.8 * 6.2) / ( 1.8 + 6.2)=> 1.4 (always rounded up to 2 decimal places).

The first formula is when you want to calculate '12' games. (Odds of Draw * Odds of Away Team) / (Odds of Draw + Odds of Away Team); so if the Odds of Draw is 3.3 and Odds of Away Team are 6.2 the result will be (3.3 * 6.2) / (3.3 + 6.2)=> 2.2 (always rounded up to 2 decimal places).