A consolation double is a type of bet that involves two selections in different events, usually horse racing or greyhound racing. A consolation double is similar to a regular double, but it offers a consolation payout if only one of the selections wins.
How a Consolation Double Works
To place a consolation double, you need to follow these steps:
Choose two events or races that you want to bet on. You can select from various horse racing or greyhound racing events, such as flat racing, jump racing, or harness racing.
Choose one selection from each event or race that you want to combine. You can select from various types of bets, such as win, place, show, or each-way.
Enter the stake that you want to wager on the consolation double. The stake is the amount of money that you risk on the bet.
Check the potential payout and the odds of the consolation double. The potential payout is the amount of money that you can win if the bet is successful. The odds are the ratio of the payout to the stake. The odds of the consolation double are calculated by multiplying the individual odds of each selection.
Confirm and place the consolation double.
The outcome and payout of your consolation double will depend on the results of each selection. There are three possible scenarios:
Scenario 1: Both selections win. You win the full payout of the consolation double, which is equal to your stake multiplied by the odds of the consolation double.
Scenario 2: Only one selection wins. You win a partial payout of the consolation double, which is equal to your stake multiplied by a fraction of the odds of the winning selection. The fraction may vary depending on the bookmaker and the type of bet, but it is usually 1/4 or 1/5.
Scenario 3: Neither selection wins. You lose your entire stake and receive no payout.
Examples of Consolation Doubles
Here are some examples of consolation doubles with different events and selections:
• Scenario 1: Both greyhounds win or place. You win $3370.
• Scenario 2: Only one greyhound wins or places. You win $50 x (1/5 x 5.00) + $50 x 1.50 = $75 if Greyhound 1 wins or places, or $50 x (1/5 x 6.00) + $50 x 1.80 = $90 if Greyhound 2 wins or places.
• Scenario 3: Neither greyhound wins or places. You lose $100.
Pros and Cons of Consolation Doubles
Consolation doubles can have some benefits and drawbacks for bettors. Some of them are:
Pros:
They can increase your chances of winning compared to a regular double, as you can still get a return if only one of your selections wins.
They can reduce your risk compared to a regular double, as you can limit your losses if only one of your selections wins.
They can add more excitement and variety to your betting, as you can bet on multiple events and outcomes.
Cons:
They can decrease your potential payout compared to a regular double, as you have to pay an extra fee or juice for the consolation option.
They can lower the value and accuracy of the odds compared to a regular double, as they are affected by the fraction of the odds for the winning selection.
They can limit the options and flexibility of your betting, as you have to choose two selections from different events or races.
To Sum Up
A consolation double is a type of bet that involves two selections in different events, usually horse racing or greyhound racing. A consolation double is similar to a regular double, but it offers a consolation payout if only one of the selections wins. Consolation doubles can offer higher chances of winning and lower risk of losing than regular doubles, but they also involve lower potential payout and lower value of odds.