Immerse yourself in the captivating world of sports betting with our sophisticated Double Bet or 2 Pick Parlay Calculator. Specifically designed for the Canadian betting aficionado, this tool helps determine returns from a double bet or a two-team parlay. Just by inserting the odds, your selections, and their outcomes, you can seamlessly calculate your total profit or loss. Experience this for free, right at your fingertips!
What is a Double Bet or 2 Team Parlay in Betting?
A 2-team parlay is a bet type where there are 2 different selections on two separate events. In order to win the bet, both selections must be successful. A 2 pick parlay can also be known as a double bet, a term which is more traditionally used in Europe.
You can also find other terms that refer to the same type of bet:
- 2 leg parlay.
- 2 team parlay.
- 2 pick parlay.
- Double bet.
One thing to note is on some markets, an each way 2 team parlay or each way double bet may be available, in this case, a $10 each way 2 pick parlay/each way double would cost you $20, with $10 going towards the win bet double, and $10 going towards the place bet double.
How to Use Our 2 Pick Parlay Calculator
Our 2-Team Parlay/Double Bet Calculator is an invaluable tool for sports bettors wishing to determine the potential payout of a 2-pick parlay.
After deciding on your selections, teams, and market, just input the odds in Decimal (3.0), American (+200), or Fractional (2/1) format and state your wager amount.
As a bonus, you can execute 2-Team Parlay and a range of other bet calculations on our bet odds calculator, totally free for our Canadian users
Inputting Bet Information
To harness the power of the 2-Team Parlay/Double Bet Calculator, you need to provide the following information:
- Odds for each selection: These represent the chances of each selection winning the event or game.
- Stake: This is the amount you wish to wager on each selection.
Once all necessary information is provided, the calculator will display your potential profits.
Interpreting Results
A double bet calculator calculates the potential payout for a double bet by multiplying the odds for each selection together and then multiplying that total by your stake. The result is the potential payout if both selections win.
For example, if you bet $10 on two selections with odds of 2.00 and 1.50, the potential payout would be calculated as follows:
- Multiply the odds for each selection together: 2.00 x 1.50 = 3.00
- Multiply the result by your stake: 3.00 x $10 = $30
So, the potential payout for your double bet would be $30 if both selections win.
Types of Double Bet Calculators Available
Our platform offers two types of Double Bet Calculators – Standard and Each-Way Double.
Standard 2 Leg Parlay Bet Calculator
This is the most common type of double bet calculator, which is used to calculate the potential payout for a double bet. In order to win this bet both selections must win their event. If either selection finishes 2nd or loses then the whole bet loses.
Each-way Double Bet Calculator
An each-way double calculator is used when placing an each-way double bet, which consists of two bets: a winning bet and a place bet. Furthermore, a place is 2nd 3rd 4th etc depending on the place terms of the event. Please note each way can also be known as ew.
The ew double calculator works out returns based on all the different outcomes of this bet. The outcomes can differ depending on the results of the 2 events as the bet is separated into a double bet for both selections to win and a double bet for both selections to place (2nd 3rd 4th etc – depending on the place terms of the event)
If both selections win then both bets win, if either selection were to lose the event but finish 2nd for example, then the win double bet would lose however the place double bet would win therefore the return would differ.
How Does a Double Bet Work?
A 2 team parlay is a bet type where there are 2 different selections on two different events. In order to win the bet, both selections must be successful.
You may also be interested in getting to know more about other types of bets and calculators such as the straight bet calculator for single bets. But, for now, let’s focus on what you can calculate with a 2 play parlay calculator.
Example of a Double Bet
An example in the NHL of a $10 2-pick parlay/double bet would be if you bet on the Montreal Canadiens to beat the Florida Panthers at 2.75 and they won then your winnings from that game would roll over to your second selection, for example, that could be the Calgary flames to beat the Vancouver canucks at 1.8, furthermore, then you would have:
- The potential return for the first bet: $10 x 2.75 = $27.50
- The potential return for the second bet: $27.50 x 1.8 = $49.50
- Total return = $49.50
- Total Stake = $10
- Total Profit = $39.50
Why Use a Calculator to Work Out a 2-Parlay Bet?
Some of the main benefits of using a 2 team parlay/double calculator are:
- Ability to make informed decisions and potentially increase chances of winning
- Accurately calculate potential payouts from a variety of doubles
- Quickly calculate potential 2-pick parlay payouts
- Ability to change selections to better compare which bet to take
- Access new returns after an event is made void for unforeseen circumstances
- Use the outcome dropdown list to change to won, placed or lost to see how this affects the bet payouts
A key usage case of the 2 pick parlay calculator is when watching your first selection, if this first selection was to lose the match but it meant in the league table they finished 3rd in the league, this would mean the team ‘placed’ and the place part of an each way double would win, the win part of the double would lose as they did not win but the place part of the bet would win.
These winnings would then be running onto your 2nd selection, therefore the payout would massively differ. You could then use the outcome drop-down menu to adjust selection 1 to ‘placed’ and see how the payouts differ.
How to Place a 2 Team Parlay/Double bet
In order to place a 2-pick parlay/double bet you first need to choose the events or selections you want to bet on, you then need to decide the type of bet type – in this case, whether it is a win or each 2 team parlay/double and finally you need to calculate the combine odds.
You can then place your bets and wait for the results, you can adjust the outcome of each event using the drop-down menu found on the 2-team parlay/double calculator.
Examples of How a 2 Pick Parlay Calculator Can Help Improve Your Betting Strategy
You can use the double odds calculator in order to analyze potential payouts, for example, you may have 3 teams in mind but may not be sure how the returns differ from a double or a treble. Or you may want to place a double but are not sure which teams to use, you can swap out the odds from 2 selections to another to assess how this changes the potential risk/reward of the bet and ultimately use the tool to decide which bet you want to place
This also occurs for an each way 2 pick parlay/double as you may be interested to see how the payout differs if both were to place or both were to win. The calculator allows you to see whether it is worth the extra risk for the each way 2 pick parlay (as this costs double a winning variant) or whether you prefer the win-only payout risk versus reward.
You can also use the 2 pick parlay calculator when watching the event, if the first selection was to lose the match but it meant in the league table they finished 3rd in the NHL, this would mean the team placed, the win part of the double would lose but the place part of the bet would win and be running onto your 2nd selection, therefore the payout would massively differ. You could then use the outcome drop-down menu to adjust selection 1 to ‘placed’ and see how the payouts differ.
Conclusion: Calculate your Potential Winnings with Our 2 Pick Parlay Calculator
In conclusion, there are numerous reasons to use a double bet calculator. The complexity can be quite high, especially when considering the each-way variant therefore the 2-team parlay/double calculator allows you to quickly, accurately and conveniently measure payout returns and how they differ if a team loses, places or a match is made void. It allows you to compare different bets before actually placing them, allowing you to measure bets of different risk versus reward and choose one which you prefer. Hopefully resulting in more successful bets and more profit
FAQ – 2 Pick Parlay Calculator and Double Bets
What is a double bet?
A double bet, also known as a 2-pick parlay, is a bet type that involves two separate wagers on two different events. Both selections must be successful for the bet to win. The potential return is calculated by multiplying the odds of both selections together and then multiplying the total by the stake.
How does a 2 pick bet differ from a straight bet?
A single bet involves one wager on one event, whereas a double bet includes two wagers on two separate events. With a double bet, both selections must be successful for the bet to win. This offers higher potential returns but also involves more risk than a single bet.
What does 'each-way' mean in double betting?
An each-way double bet consists of two bets: a win bet and a place bet. This means you’re betting on your selections both to win and to place. In terms of payout, an each-way double bet would cost double compared to a win-only bet, as you’re effectively making two bets.
How is the potential payout of a double bet calculated?
The potential payout for a double bet is calculated by multiplying the odds of the two selections together, and then multiplying that total by your stake. For example, if you bet $10 on two selections with odds of 2.00 and 1.50, the potential payout would be calculated as follows: (2.00 x 1.50) x $10 = $30.
What is a 2 pick parlay bet calculator?
A 2 pick parlay calculator or also called double bet calculator is a tool designed to calculate potential returns from a double bet. You input the odds, stake, and outcomes of your selections, and the calculator gives you the potential profit and total return.
How can I use a double bet calculator to improve my betting strategy?
A double bet calculator can help you make more informed betting decisions by providing accurate potential returns. You can use it to compare potential returns from different combinations of bets, adjust your bets in real-time based on the performance of your selections, and even determine whether each-way betting is worth the extra cost.
Can I use a double bet calculator for other types of bets?
A double bet calculator is specifically designed for double bets. However, there are various betting calculators available for different types of bets, such as trebles, accumulators, and more.
Is double betting risky?
All forms of betting carry risk, and double betting is no exception. While double bets can yield higher returns due to the multiplicative nature of the odds, they also require both selections to win for a payout. It’s always important to bet responsibly and consider potential losses.
