Double chance hockey bet

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What is Double Chance in Hockey Betting? There is a multitude of ways you can bet on a hockey game. One of them is what's known as a double chance bet, With a double chance bet on a National Hockey League game, sportsbooks are offering you two outcomes for a game. With this type of bet, sportsbooks list the odds about the game ending with a win or a draw. If the team you pick either wins or draws after 60 minutes of play, you have won the bet.

An important thing to keep in mind with double chance bets in ice hockey is these only apply to wagers that specifically state they are for regulation play only. All NHL games go to overtime and possibly a shootout, if necessary, should the teams be tied after 60 minutes. As such, double chance bets don't apply if the game goes into overtime.

Double chance bets stand in contrast to what's known in hockey as a three-way bet where you pick on three possible outcomes. These are the away team wins, the home team wins, or the score is tied after 60 minutes. Although a double chance bet gives you two ways to win, it is not the same as the standard two-way bet. In the more common two-way bet, the only possible outcomes are either the home team wins or the away team wins. These types of wagers are usually referred to as moneyline bets.

Because approximately only 25 percent of NHL games go to overtime, the double chance bet can offer some attractive odds. Especially if you are betting on the underdog team to either win the game or draw in regulation play. Bookmakers will often offer a win or draw market, but can you get better value by working out your own Double Chance odds from the 1X2 odds?

However, we do not offer a 0 and 0. How to calculate Double Chance odds We have established that by betting on Double Chance, there will be two out of the three possible outcomes that will ensure your bet is successful. Consequently, odds are significantly lower than the straight 1X2 odds. We can use a hypothetical example to help explain Double Chance betting more clearly.

Understanding how to calculate Double Chance stakes by using odds from the 1X2 market allows bettors to find higher value betting odds. For example, you want to bet on Manchester City to beat Southampton at odds of 1. However, you believe Southampton may upset the odds and secure a draw but a 0. Other bookmakers offer Southampton to win or draw at 1.

Odds for the draw are at 3. Obviously, only one of these bets will win but we want the same profit in either case. For the purpose of this example we will label the stake on Manchester City as S. If Manchester City win, the bettor will win 0.