Double or nothing is a gamble to decide whether a loss or debt should be doubled. The result of a "double or nothing" bet is either the cancellation of a debt or the doubling of a debt. It refers to the potential outcome in a betting situation where the winner risks what has been won for a chance to double their winnings. The loser of the first game decides on a double or nothing. If the loser then loses the second bet, they owe the winner of the initial bet double. For example, if person A owes person B a bottle of Coke from a bet and then places a "double or nothing" bet with the same opponent and loses, they will owe 2 Cokes. In the case of more than two people, should the initial winner lose they owe the original losers nothing, whilst the rest of losers owe double the original stake to the new winner. "Double or nothing" may refer to an initial bet being totally cancelled out by a larger wager on a second bet with a chance to win first amountagreed on by both betters. Example: Player A bets 20 dollars and loses to player B. Player A calls "double or nothing". If player B accepts, the new bet is in the amount of 40 dollars. If player A wins, the winnings exactly negate the result of the initial bet; If player B wins, the winnings of player B are effectively doubled relative to the initial bet.
Poker
In poker, a double or nothing tournament is a sit'n'go tournament where half of the surviving players get double the buy-in and the eliminated half does not receive any prizes. Double or nothing tournaments are mostly played by ten players or six players, although multi-table versions, such as for 20 players, exist. The rake in these tournaments is usually smaller than in standard sit'n'go tournaments. Some poker rooms also offer triple or nothing tournaments, where one third of the playing fieldgets paid.
Blackjack
The term that is used in blackjack is "doubling down". This blackjack move allows you to double your bet in the middle of a hand in exchange for one extra card. It’s a risky gamble, as it usually ends your betting: if you receive a particularly low second card you can’t hit again. Timid players avoiding the double bet, and more adventurous players often use it.
