What Does ‘Double Down’ Mean in Betting?
‘Doubling Down’ in betting means placing an additional wager on a selection. Traditionally the act of ‘doubling down’ would see you double your stake. For instance, you could wager $10 on a team to win a game or a championship, only to double down afterward and place another $10 on the same outcome.
Why do Bettors Double Down?
There are two situations where bettors would usually opt to double down on their selection:
- The markets have since moved even further in their favor. For example, you may have placed a wager at +200 thinking you had already found excellent value, however, the odds being offered are now +300 so you could double down and place an additional wager
- You are even more confident in your wager being successful. A good example would be placing a wager on a team to win the Super Bowl at the start of the season. They go on to make a sensational start and blow out some strong teams in their opening games – You could then double down on the same market after becoming increasingly confident.
Doubling Down vs Hedging
These two common betting terms are polar opposites and can be a great example of how risky a bettor may be. Hedging your bets is a move designed to mitigate losses while doubling down is an all-or-nothing move and puts additional money at risk.