Introduction to Daily Double Betting

Are you visiting an online racebook or at a racetrack and want to know more about the daily double betting they are offering? Getting started with exotic horse wagers means learning more about handicapping, and the types of systems used in these sorts of horse racing bets. For example, those that are knowledgeable about horses and how they perform tend to do well with exotic wagers like superfecta, exacta, and quinella betting.

Despite this, there are no shortcuts to use a daily double betting option. Thankfully, this style of betting simplicity may be your key to your biggest win of the day.

Defining the daily double betting scheme

It is important to remember that the daily double betting wager is simply an incentive. This means that the online gambling website or the racetrack itself wants to encourage you to bet on races that are not very popular. This most often occurs during the first races of the day.

As a general rule, you will only find a daily double offered for horse races in the middle of the race day on rare occasions. Regardless, they are not limited to the races with the smallest betting pools. There are also certain racetracks that offer a daily double at the beginning and end of the race as a standard.

How daily double betting works

The daily double is a simplistic form of betting that involves two races.  In each race, you must pick the winner.  This means you will get one ticket with the consecutive races on it.  In order to win, both of the horses you pick must win first place.  If you win, the betting payout is also different then a traditional ticket for a win on two races.

How daily double betting payout works

As an incentive to get people to bet on races that have a lower payout pool, the daily double betting limits itself to one takeout. By definition, the type of betting that is legal is called pari-mutuel. This means that all of the bets placed are against each other instead of being against the house. For this reason, the pool of money available to win back can be lower.

This low betting pool usually occurs during the first two and last two horse races of the day at every track. This is why the daily double is often offered. The track or casinos make it up to you for trying their daily double offer by taking about less money to operate the gambling system. The takeout generally covers government taxes and ranges from ten to thirty percent.

The amount reduced from the takeout varies from one track to another and also has variables at online horse betting websites. In the end, the payout for daily double betting is usually higher (if you win) than with other races.

Avoid the frantic daily double betting hype

At the track, there is a common anomaly that happens far too often. When the daily double is offered, a group of stubborn individuals tends to show up to play any number combination in order to win. For example, they will use their date of birth as the two horse numbers.

These types of daily double bettors are not educated about handicapping and could care less. Instead, they forgo figuring out how to actually win in order to play. For them, this kind of horse betting is like the scratch off lottery ticket they buy at a gas station. While this is certainly a part of the horse wagering world, this group does not necessarily paint a picture of what daily double betting could be.

Sadly, what these hasty daily double bettors fail to realize is that, with a few insights into the tote board (where the odds for each horse at each race are kept), a better chance of winning can be obtained.

Wheeling the daily double

It is not uncommon to look at the odds for a race and, with an educated eye, understand that all of the horses racing that day are terrible. Despite this, a few are bound to shine and it is on those individual horses that you must maintain focus. Unfortunately, your focus could fall on two of the best horses with no clear indication of which place they will fall in. This is where the power of the wheel comes in.

Naturally, the wheel is available in other exotic wagers and finds its place in the daily double as well.  Just keep in mind that every time you add a combination, it will cost you. First started in Australia, you may also occasionally encounter the ability to place a daily double betting wager on the four legs of each race. Today, it is not uncommon to find this four legs option offered at online horse betting websites.