What Does Double Bet Mean In Sports Betting and Wagering?
We live in a society where greed and the desire to make as much money as possible is the new norm. In the sports betting industry, it is no different. Bettors are very rarely satisfied with a modest 1-0 or 2-0 day, while profiting a small amount. Instead, we have terms like “double bet” where bettors decide to risk more than they normal would on a single bet and try to increase the bankroll with one big payout. If they are successful in doing so, great. If not, the bankroll suffers a major hit and it’ll be much harder to make up the lost money. This is why bettors should tread carefully when thinking about making a “double bet”
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What Does Double Bet Mean?
If you hear someone using the term “double bet” in reference to sports betting, you should probably clarify the context in which they are using that term. A “double bet” can mean two different things from two different people. One usage is more common in North America, while the other is seldom used here, but more common in Europe.
Let’s take a look at the North American meaning first. If you hear the term “double bet” used on this continent, it is referring to a bet in which the handicapper decides to double the amount of what they would normally bet. This is also known a “double pop” or pressing your bet. For example, if you normally bet $100 on a game and you absolutely love a game or team for whatever reason, you would “double bet” them and wager $200.
In other markets, a “double bet” is generally used to describe the simplest form of a parlay, which is a bet on two teams or individuals. In order to win this bet, you would have to pick both games correctly. The good thing about a parlay is that you can parlay just about any betting option you want – a point spread, the money line, totals and so on.
Are Double Bets Worth Making?
If we are talking the North American meaning of “double bet” then yes, making double bets are worth it when the situation asks for it. I am a big believer that bankroll management is crucial to surviving as a serious bettor. However, I understand the process of building your bankroll is gruelling, so I would support anyone who decides to make a “double bet” if they absolutely love the situation. Don’t get me wrong, every situation can turn into a disaster in the blink of an eye, which is why these “double bets” should be very infrequently made.
In the European sense of the meaning, then some “double bets” are much more attractive than others. For example, a money line parlay is a better bet in most cases than a point spread parlay. Money line parlays are calculated by multiplying the payouts of each individual game, so the total payout reflects the risk involved. If you are betting into money line odds that are good, the parlay payout will be good. With a point spread parlay, the odds are generally fixed and much lower than they should be. A two-team parlay has four possible combinations – you can win both games, win the first and lose the second, win the second and lose the first or lose both. Each outcome is just as likely to happen as the others. In order for you to break even over the long term with this style of bet, you would need to get 3/1 odds, instead of the typical 13/5 odds. Should you feel the need to “double bet” and indulge in the parlay option, you need to understand that you are making a bet in which the sportsbooks have a real significant edge, both at the present time and over the long term.
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