1 + 2 = 4 The best part of doubling up
Dear Trading Tips reader,
I was recently in a heated debate about the advantage of doubling up on bets rather than taking them one at a time.
With betting there is ALWAYS an element of risk and uncertainty.
The job of our team is to minimize that risk while maximizing the profit potential for our customers.
And the way we do that is by using parlays to achieve better odds while minimizing the stake you risk.
Comparing Single and Double bets
First lets populate the scene with hypothetical matches and odds to compare the profits you’ll receive from both single and double bets.
And to ease this process I’ve chosen my team Liverpool to beat Hull City at odds of 6/5 or 1.20. And Everton to beat Southhampton also at odds of 6/5 or 1.20.
Here is what it would look like if you backed both teams as single bets.
Back Liverpool and Everton at 1.20 as two single bets.
The potential gain if both win will be 2.40 points in total gains.
But the downside here is that you have to risk 1 point per single bet.
Double bet value
Now lets look at doubling up on the same single bets.
Back Liverpool and Everton as one double bet at 1.20 for both.
Your potential gain if both teams win will be 3.80 points in total gains.
That’s a huge potential gain by just doubling up on bets, you also only have to risk 1 point unlike the 2 points risked on both single bets.
This does look attractive and for small odd favourites doubling up can raise your odds significantly.
How to spread your risk with doubling up
The secret to getting the most out of your double bets is to calculate the association between risk and reward.
What are you willing to risk to achieve a certain reward?
so if you look at my recent tip sent out over the weekend I doubled up on two fighters.
Drew Dober and CB Dollaway.
Dober at odds of 0.55 and Dollaway at 0.50.
Now if I took these two bets as a single and they both won I would be left with 1.05 in gains but I would have to risk 1 point per single bet.
However I doubled up and the odds shot up to 1.33 and I only risked 1 point.
My risk was 1 point while my reward was 1.33.
A word of warning : Bad Single Bets=Bad Double Bets
Now before you go and rush off to place two or more double bets the important thing to remember is your double or even triple bet is only as good as the bets you place in them.
From the sports desk.