Despite the increasing popularity of the trifecta and the Pick Three, the Daily Double remains the favorite exotic of legions of racetrackers. It's the oldest exotic wager and is as entrenched a feature at U.S. race tracks as the hot dog.
The double's allure over the decades no doubt lies in the gargantuan payoffs sometimes possible on a modest $2.00 bet. It now has a double-whammy aspect: Many tracks offer both an early and a late double. So let's look at some viable strategies for playing the Daily Double.
First of all, decide which double you're going to play, early or late. As a rule, the double with the least formful, less playable two races pays better. The more formful races generally produce lower prices. If you're conservative, play the more formful double, perhaps on larger tickets of $5.00 to $20.00. But if you're a speculator or outright gambler, you may opt to play the less callable double. Even a minimal wager of $2.00 may produce as big a payoff as a $10.00 straight wager on a more formful race.
From Friday, April 14, when the late double was added to Keeneland's betting menu, through Sunday, April 23 the late double paid a daily average of $78.94, while the traditional early Daily Double paid an average of $267.06, or more than three times as much. The trend continued during the final week at Keeneland, with the early double averaging $66.15 and the late double averaging $32.55. On eight of the 11 racing days, the early double paid more.
The key to the much larger payoffs lay in the contrasting nature of the first two races and the last two races. Typically, the first race at Keeneland's spring meet is a $5,000 to $10,000 claimer, while the second race is a maiden special weight. Both bottom-barrel claimers and maiden races are notoriously hard to call. Thus, the fatter early double prices.
In contrast, the last two races on the card generally are back-to-back allowance races or a stakes race and an allowance race. These classes of races are very callable at Keeneland, where form for top-drawer horses holds. Thus, the lower late double parimutuel payoffs.
Early & Late Double Comparison: Keeneland, 1995 Spring Meet
Date: | Early Double: | Late Double: |
|---|---|---|
| 4/4 | $ 52.00 | $ 25.80 |
| 4/15 | 492.80 | 39.80 |
| 82.40 (consolation) | ||
| 4/19 | 7.00 | 138.00 |
| 4/20 | 80.60 | 19.20 |
| 4/21 | 454.00 | 77.00 |
| 4/22 | 572.80 | 6.20 |
| 4/23 | 127.80 | 21.60 |
| Totals | $1,869.40 | 552.60 |
| Average | 267.06 | 78.94 |
| 4/25 | $127.80 | $26.00 |
| 4/26 | 25.80 | 70.60 |
| 4/27 | 80.00 | 11.80 |
| 4/28 | 31.00 | 21.80 |
| Totals | $264.60 | $130.20 |
| Average | 66.15 | 32.55 |
While this pattern isn't always present, it's extremely common at tracks across the country. The cheaper races are slotted early on the card, with the allowance and stakes races later. It's simple enough to compare double prices. Just keep a log for a week or two, comparing the early and late double payoffs. A pattern will emerge. This will then be your key to value.
The next decision to make is to determine how to play the double of your choice. Should you front-wheel, back-wheel, criss-cross or invest in a large ticket on a limited number of horses in each race? Let's examine these options and point out some of their strengths and weaknesses.
Wheel or Criss-Cross?
A front-wheel involves selecting a key horse (only one) in the first half of the double and wheeling it with all the horses in the second half. Front-wheeling is a particularly strong betting strategy when the key horse in the first half of the double is a strong overlayÑa fat-priced horse with an excellent chance of winningÑand when the other side of the double is wide open. Frequently, bottom claiming races and maiden races are wide open; any entrant can win. The miracle of the wheel is that it catches longshots when they win these wide-open events.
By contrast, when the first half of the double is wide open and you can find a strong overlay as the key in the other side, you may want to back-wheel. You're then taking all the horses in the front side with one in the second.
The drawback to wheeling is that it's expensive. When you wheel a chalk horse, you may actually lose money or get only a modest return on your investment. So it's best to wheel only when you have a solid overlay on one side of the double.
Back-wheeling is probably a tad less popular than front-wheeling and over the long haul, the prices are slightly better in a back-wheel. This phenomenon is simply due to the fact that many people enjoy taking their risk on the front side so they can relax and salivate over the projected payoffs. Sometimes these are huge, and just the possibility of catching one of these is a high in itself. This, indeed, goes a long way in explaining the Daily Double's magnetism.
When you back-wheel, you already know you've won the front side and you pull for the longest price in the race, but then you must sweat it out in the back side of the Double, since you have only one selection there.
Criss-crossing is still another popular Daily Double betting strategy. When you criss-cross, you use several horses in each race in combination with each other. For example, you may have a chalk horse, a medium-priced horse, and a longshot on each side. By criss-crossing these six horses at a cost of $18.00 to a $2.00 ticket, you obtain excellent coverage and possible payoffs ranging from fair to fat to fabulous.
The main disadvantage of criss-crossing, particularly if it includes only logical choices, is that payoffs may not be high enough when compared to investment. So many people play the obvious combinations in a double, often as large-ticket investments, that payoffs often are poor.
Still other seasoned Double players look for a mortal-lock overlayÑthey may have to wait weeks or even months for this to occurÑon each side of the double. They then eagerly purchase a large ticket, perhaps $50.00 or $100.00, and wait for the gravy train to roll in. The trick to this strategy is acquiring the patience to wait for a big kill. It involves not only waiting for the right combination but passing all those other enticing doubles along the way.
While the wagering strategies mentioned above are the most common, many other ways of betting the Double are popular. We've all heard of players who simply bet their age, others the first two digits of their Social Security number, and still others employ a mix of lucky numbers and handicapping.
A veteran Louisville, Kentucky, Daily Double aficionado considers the number one to be his lucky number. But he's also cagey enough to know that the three inside posts win a large percentage of routes, so whenever either race in a Daily Double is a mile and sixteenth or beyond, he uses the numbers 1, 2, and 3 on that side of the Double in combination with the one in the other race. He's cashed some whopper Double tickets using this methodology.
Value-conscious Daily Double players carefully monitor the projected payoffs, particularly on a proposed large ticket using just one horse in each race, or a limited criss-cross ticket, to be sure it wouldn't be wiser to parlay a big bet. For example, a double with a 4-1 on one side and a 6-1 on the other may pay only $58.00 on a $2.00 ticket or $1,450.00 on a $50.00 ticket. A parlay of $50 on the same two horses would produce $1,750.
But any way you slice it, the Daily Double remains one of racing's most intriguing exotic wagers. No wonder it's stayed around so long.
Copyright © 1995 American Turf Monthly
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