Updated: Thursday, May 1, 2014 1:02 PM PST

Horse Racing Wagers - Betting The Daily Double

The Daily Double offers horse bettors an attractive alternative to straight win betting. The object of the Daily Double is to select the winner in two consecutive races.

These races are normally found at the beginning and end of each race card. Daily Doubles are an especially good bet when you have an excellent value horse (i.e. longshot) in either leg of the Daily Double.

The Daily Double Parlay

The Daily Double Parlay is an alternative to the traditional Daily Double wager. It is a value maximizing method that can pay much larger dividends that traditional Daily Double wagering. To use this method, start with $12 and follow the instructions below.

Step 1:

  • Amount of Investment = $12
  • Divide total investment amount by 6 parts = $2 increments
  • $2 daily double crisscrossed (two horses each leg) 2 x 2 = $8 (ex: A-B/A-B)
  • $2 win wager on one horse in each leg of the double = $4

Step 2: The Parlay

  • Amount of investment = $38
  • Divide total investment amount by 6 parts = $6 increments
  • $6 daily double crisscrossed (2 horses each leg) 2 x 2 = $24
  • $6 win wager on one horse in each leg of the double = $12
  • Be honest in your selections. Be selective and don't settle for action.
  • Base selections on odds. Don't play two favorites.

The Key Horse Full Wheel

The Key Horse Full Wheel is the basic strategy for betting Daily Doubles.

  • Purchase $2 tickets on the key horse with all the horses in the second half of the Daily Double (ex: A/A-B-C-D-E-F-G-H).
  • Purchase extra tickets using the key horse with the lowest payoff possibilities in the second half of the Daily Double (ex: A/A-B-C).
  • Purchase extra tickets using the key horse with two or three selected contenders in the second half of the Daily Double (ex: A/B-D-E).

The Daily Double Part Wheel

Rather than using a Key Horse with all of the horses in the second leg, a handicapper should wheel their Key Horse with a few select contenders. A straight win bet should also be made on the Key Horse.

  • Bet one unit on the Key Horse to win.
  • Purchase Daily Double tickets in multiple values (ex: $5) on the Key Horse with selected contenders in the second race (ex: $5 Daily Double A/A-B-C-D = $20).

Two Horse Daily Double Part Wheel

This Daily Double betting structure uses multiple horses rather than just one Key Horse. A handicapper should still make a win bet on the Key Horse. This strategy is a hedge play in case a contender in the first leg has the potential to ruin your Daily Double play.

  • Bet one unit on the Key Horse to win.
  • Purchase Daily Double tickets in multiple values (ex: $5) on the Key Horse with selected contenders in the second leg (ex: A/A-B-C = $15).
  • Use a Daily Double part wheel using a second contender in the first leg with the same contenders in the second leg (ex: B/A-B-C). Use a smaller bet amount for this part of the wager.

Daily Double Part Wheel + Exacta

This Daily Double betting structure employs a multiple horse part wheel strategy as well as Exactas in the Key Horse leg of the Daily Double. This strategy really maximizes value.

  • Bet one unit on the Key Horse to win.
  • Use a Daily Double part wheel using the Key Horse with selected contenders in the second leg (ex: $4 Daily Double, A/A-B-C).
  • Use a Daily Double part wheel using a second contender in the first leg with the same contenders in the second leg (ex: B/A-B-C). Use a smaller bet amount for this part of the wager.
  • Purchase Exacta tickets using the Key Horse on top of (i.e. to win) over up to three contenders for 2nd place. (ex: A/B-C-D).
  • Purchase Exacta tickets using the Key Horse in the place position under up to three contenders including the alternate selection (ex: B-C-D/A).
  • Purchase Exacta tickets using the Key Horse over the second contender from the Daily Double portion of the bet and two other probable contenders in the race (ex: A/B-C-E).
  • Purchase Exacta tickets using the Key Horse under the second contender and two other contenders.