Definitions for daily double
This page provides all possible meanings and translations of the word daily double
Random House Webster's College Dictionary
a betting system in horse or dog racing in which the bettor makes one bet on the winners of two races, usu. the first and second, and collects only if both choices win.
Origin of daily double:
a single bet on two horse races in the same day
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.
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"daily double." Definitions.net. STANDS4 LLC, 2014. Web. 21 Oct. 2014. <http://www.definitions.net/definition/daily double>.