A daily double is a type of
wager offered by
horse and
dog racing tracks. It requires bettors to select the winners of two consecutive races. Because of the increased difficulty of picking two straight winners, winning daily double bets often pay off at high
odds.The daily double was the first so-called "exotic" wager to be offered by
American racetracks. The wager was typically offered only for the first two races of each day's program, as an enticement for spectators to arrive early for the entire program (and hopefully wager more). As with all other American racing wagers, the "double" is conducted in
parimutuel fashion, but with the number of betting interests in the daily double pool equal to the
product of the number of entries in each race; for example, if there are ten entries in the first race and eight in the second, there will be eighty betting interests, one for each combination of two potential winners. By sheer mathematics, this results in higher payoffs than those found in straight betting for win, place, or show.
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