A daily double is a bet type that combines two single bet types over two horse races. The bettor must select the winner of each of the two nominated daily double races in order to receive the winning dividend. The daily double can be a pari-mutuel bet type where the pool is split amongst winning bets or it can operate similar to a 2-leg multi bet with fixed prices. A daily double can also be referred to as a double.
The cost of a daily double is calculated by multiplying the number of selections in the 1st leg by the number of selections in the 2nd leg.If the bettor only selects on ehorse in each leg, the bet will cost $1. If the bettor selects three horses in each race the bet will cost $9 eg. 3 x 3 = 9.
A running double is similar to a daily double except that the running double generally involves two consecutive races whereas the daily double are any two races as nominated by the tote.
The example shows a daily double bet where the bettor has selected one horse in the 1st leg (race 5) and 3 horses in the 2nd leg (race 6). The bet will be successful if Black Caviar wins race 5 and then one of the 3 selections wins race 6.
Most bookmakers offer the running double and daily double betting options to their clients. The bookmakers simply payout the dividend declared by the tote. Some bookmakers now offer an added percentage (%) on top of the tote dividend.