Can I bet on two events at once?

Of course you can. This procedure is called the dutching betting system  and it helps to a large extent to find successful options for the game. Even if it seems to you now that there is no chance of winning, Dutching will give you more guarantees. Bet on two opponents at the same time, bet on two enemy knights, and you will see that your opportunities will grow exponentially. It's interesting and fun, so keep that in mind.