Horse racing betting has changed in many ways throughout the years. One of the first major changes to betting on horses was the addition of so-called exotic wagers. The Daily Double was one of the first exotic bets introduced, and it is still popular today. When you bet horses online the Daily Double can be an excellent source of value for your horse racing bets. See more types of horse bets.
We’ve prepared this guide to help you answer the question, what is the Daily Double? We will explain how the bet works, and we’ll also look at the best ways to play the wager at your favorite online racebook. Don’t have an online racebook account? We recommend several horse betting sites.
About the Daily Double
The very first exotic wager to be made available to bettors in North America was the Daily Double. Although considered a uniquely American bet, the first Daily Double wager was offered in Ottawa. Ever since, it has been a staple of horse racing tracks in the US, Canada, and other parts of the world.
The Daily Double is a multi-race, multi-horse bet that requires the bettor to pick the winners of the first two horse races on a single card. Each selection must win its race. There is no consolation prize for getting just one selection right.
A separate betting pool is established for the Daily Double. All monies wagered on the Daily Double are used to pay off the winners of the bet. As such, the payout for a Daily Double depends on many factors. The biggest of these is the odds offered on each horse that wins its leg. Horses at low odds often get the most play in the Daily Double pool. When favorites combine to win the first two races, the payoff is low. If the first two races are won by longshots, the Daily Double can be a very nice bet to win.
This horse racing bet ranks high in value. It allows the handicapper to bet a little in order to win a lot. That is how the smart bettors make money at horse racing. The Daily Double can be more profitable than betting two short-priced horses to win.
Playing the Daily Double Online
The Daily Double is a bet that is offered at almost every race track in the world. It will always be held on the first and second races of the day, but some tracks also offer a rolling double. The rolling double uses every race on the card in sequences of two: races 1 and 2, races 2 and 3, and so on. This continues throughout the whole card of races until the last two races of the day.
The bet is offered by all reputable online race books. You can play the Daily Double online on a computer or mobile device right from the comfort of home. In addition, online racebooks offer the player access to a vast number of race tracks. It is like having a complete off-track betting parlor in the palm of your hand.
The pools for the Daily Double that are created on the race track by the live bettors are the same pools that are used on the online racebooks. You can get access to the same payout by playing your favorite race tracks online.
Strategies for Winning the Daily Double
Over the years bettors have developed a number of winning strategies for the Daily Double. Some bettors may choose to play the bet by picking only one horse in each of the two legs. This is an economical way to make the bet, but not always the most profitable.
One winning strategy is to pick more than one horse in each of the Daily Double legs. This is an example:
- Race 1 – Horses 3 and 4
- Race 2 – Horses 1 and 5
By making this bet the player will win the Daily Double if the winners of the two races are:
- Horses 3 and 1
- Horses 3 and 5
- Horses 4 and 1
- Horses 4 and 5
The total cost of the above wager, based on a minimum bet of $1 is $4. This is because the bettor is making four separate tickets instead of one. The way to determine the cost of the bet is to multiply the number of horses used in leg one by the number of horses used in leg two. The sum is then multiplied by the base amount. At most race tracks a $1 Daily Double is the standard.
This strategy is known as spreading. When a bettor uses spreading they are increasing their chance of winning the bet by using more horses. Of course, the overall profit of the bet is reduced when a bettor uses more horses.
Another strategy is to only make the Daily Double wager using horses that are offered at certain odds. For example, a bettor might only choose to play the Daily Double when the horses being used are expected to be more than 6-1. This would mean two things. The success rate of the bet would be expected to be lower, but the profit achieved when the bet is won would be higher.
Why You Should be Playing the Daily Double Online
The Daily Double is a smart betting choice for the horse player that chooses to bet horses online. It an easy bet to learn and make. Here is a look at some of the other advantages of the Daily Double.
The Daily Double is an inexpensive bet to make. It can be played strategically for less than $10, a sum which is within the means of most horse racing bettors. A player with a $100 starting bankroll could focus solely on Daily Double betting and have a good chance to win.
This bet also requires less handicapping than some other wagers. Picking two,three, or four horses in two races is much less difficult than trying to pick the winners of six races in a row in order to bet the Pick 6.
You should now be able to answer the question, what is the Daily Double? Are you ready to play this bet online? Take a moment and sign up with one of our recommended online betting websites. You can even receive a horse betting bonus when you make your first wagering deposit. Check our Bovada racebook review, Twinspires review or even our Betamerica review. All great choice if you are in the US. 5Dimes review for folks anywhere!