2) Bench Boost
The bench boost chip allows you to field your entire squad of 15 players in the chosen gameweek, instead of the usual 11. It goes without saying that a bench full of starters is necessary to even consider using this chip.
The benefits of using this chip in a DGW are evident. As mentioned in the triple captaincy, using it in a DGW would mean each of your players are likely to score at least four points, which would mean a minimum score of 60 unless they are booked or substituted early.
If you used it a single gameweek, the minimum they would score is 30, so the benefits are already obvious. Moreover, the possibility of having 15 players play 180 minutes, a total of 2700 means the potential for a massive FPL points haul is massive. This chip effectively allows you to field 32 players ( (14 players + 2*captain) * 2) and is the most powerful chip available to FPL managers. The ideal time is to use it is in a big DGW where there are budget options from smaller teams to choose from, as these will be crucial to a strong bench.
These DGW likely materialize towards the end of the season, and ideally, you should time your second wildcard just before the bench boost DGW as this will allow you to build a squad with all the latest information.