Daily double
Encyclopedia
For the game show wager, see Jeopardy!
A daily double is a wager
offered by horse
and dog
racing
tracks
. Bettors wager on the winners of two races, pre-designated by the track for a particular race day. While the Daily Racing Form
's glossary defines a Daily Double as two consecutive races, this is a loose rule. Many tracks' Daily Doubles are not consecutive. 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 offered by North American racetracks. Introduced in 1931 at Ottawa
's Connaught Park Racetrack, 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. 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. This results in higher payoffs than those found in straight betting for win, place, or show.
For many years the daily double was the only exotic wager offered. Later the exacta was also offered on select races during each program. The wagers were offered only a few times each day largely because of the limitations of electro-mechanical totalisator systems. When computer technology took over, more exotic wagers were introduced, such as the trifecta
, superfecta
and pick 6. The higher payouts for these wagers tended to diminish interest in the "old fashioned" daily double, but it is still offered at all tracks, sometimes more than once during a program. A "late double" is frequently offered on the day's final two races; some tracks offer a "rolling double" - a daily double starting on each race on the program except the last race.
The "Pick 3" and "Pick 4" wagers are derived from the daily double. These wagers require bettors to pick the winners of three or four consecutive races. These are also often offered on a rolling basis — a rolling pick 3 on races one through three, another on races two through four, and so on throughout the day.
Occasional doubles are offered on important races contested on separate days. The most prominent example is the "Oaks-Derby Double" offered by Churchill Downs
, where bettors pick the winners of the Kentucky Oaks
and the Kentucky Derby
. The Oaks is run the day before the Derby, which is always run on the first Saturday of May.
Jeopardy!
Griffin's first conception of the game used a board comprising ten categories with ten clues each, but after finding that this board could not be shown on camera easily, he reduced it to two rounds of thirty clues each, with five clues in each of six categories...
A daily double is a wager
Gambling
Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods...
offered by horse
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
and dog
Greyhound racing
Greyhound racing is the sport of racing greyhounds. The dogs chase a lure on a track until they arrive at the finish line. The one that arrives first is the winner....
racing
Racing
A sport race is a competition of speed, against an objective criterion, usually a clock or to a specific point. The competitors in a race try to complete a given task in the shortest amount of time...
tracks
Race track
A race track is a purpose-built facility for racing of animals , automobiles, motorcycles or athletes. A race track may also feature grandstands or concourses. Some motorsport tracks are called speedways.A racetrack is a permanent facility or building...
. Bettors wager on the winners of two races, pre-designated by the track for a particular race day. While the Daily Racing Form
Daily Racing Form
The Daily Racing Form is a tabloid newspaper founded in 1894 in Chicago, Illinois by Frank Brunell. The paper publishes the past performances of race horses as a statistical service for bettors on horse racing in the United States....
's glossary defines a Daily Double as two consecutive races, this is a loose rule. Many tracks' Daily Doubles are not consecutive. Because of the increased difficulty of picking two straight winners, winning daily double bets often pay off at high odds
Odds
The odds in favor of an event or a proposition are expressed as the ratio of a pair of integers, which is the ratio of the probability that an event will happen to the probability that it will not happen...
.
The daily double was the first so-called "exotic" wager offered by North American racetracks. Introduced in 1931 at Ottawa
Ottawa
Ottawa is the capital of Canada, the second largest city in the Province of Ontario, and the fourth largest city in the country. The city is located on the south bank of the Ottawa River in the eastern portion of Southern Ontario...
's Connaught Park Racetrack, 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. 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
Statistical independence
In probability theory, to say that two events are independent intuitively means that the occurrence of one event makes it neither more nor less probable that the other occurs...
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. This results in higher payoffs than those found in straight betting for win, place, or show.
For many years the daily double was the only exotic wager offered. Later the exacta was also offered on select races during each program. The wagers were offered only a few times each day largely because of the limitations of electro-mechanical totalisator systems. When computer technology took over, more exotic wagers were introduced, such as the trifecta
Trifecta
In horse racing terminology, a trifecta is a parimutuel bet in which the bettor must predict which horses will finish first, second, and third in exact order. The word comes from the related betting term, "perfecta". A trifecta is known as a tiercé in France and Hong Kong and as a tris in Italy.It...
, superfecta
Superfecta
The superfecta is a type of wager in parimutuel betting in which the bettor, in order to win, must pick the first four finishers of a race in the correct sequence...
and pick 6. The higher payouts for these wagers tended to diminish interest in the "old fashioned" daily double, but it is still offered at all tracks, sometimes more than once during a program. A "late double" is frequently offered on the day's final two races; some tracks offer a "rolling double" - a daily double starting on each race on the program except the last race.
The "Pick 3" and "Pick 4" wagers are derived from the daily double. These wagers require bettors to pick the winners of three or four consecutive races. These are also often offered on a rolling basis — a rolling pick 3 on races one through three, another on races two through four, and so on throughout the day.
Occasional doubles are offered on important races contested on separate days. The most prominent example is the "Oaks-Derby Double" offered by Churchill Downs
Churchill Downs
Churchill Downs, located in Central Avenue in south Louisville, Kentucky, United States, is a Thoroughbred racetrack most famous for hosting the Kentucky Derby annually. It officially opened in 1875, and held the first Kentucky Derby and the first Kentucky Oaks in the same year. Churchill Downs...
, where bettors pick the winners of the Kentucky Oaks
Kentucky Oaks
The Kentucky Oaks is a Grade I stakes race for three-year-old Thoroughbred fillies staged annually in Louisville, Kentucky, United States. The race currently covers 1⅛ miles at Churchill Downs; the horses carry 121 pounds . The Kentucky Oaks is held on the Friday before the Kentucky Derby each year...
and the Kentucky Derby
Kentucky Derby
The Kentucky Derby is a Grade I stakes race for three-year-old Thoroughbred horses, held annually in Louisville, Kentucky, United States on the first Saturday in May, capping the two-week-long Kentucky Derby Festival. The race is one and a quarter mile at Churchill Downs. Colts and geldings carry...
. The Oaks is run the day before the Derby, which is always run on the first Saturday of May.