What is 'Consolation Double'?
A 'consolation double' usually refers to a bet
that backs up another - for example, betting on both teams winning in a football match. If the smaller prize is won, it at least covers some of the lost bet. 'Consolation double' is also a term employed in the horse racing
industry. It refers to a double payoff for a horse that wins in its first race, and is then pulled out of its second race late in the day. The lost bet is repaid to some extent with the consolation bet, while a win has already been made leaving the better up at the end of the day.
'Consolation Double' Explained
Consolation double betting is often employed by gamblers who are happy to make small gains frequently, rather than chasing a big win. By placing a bet on two opposing outcomes, one with longer odds than the other, a player can guarantee that they will at least win some of their bet back. This is often seen in soccer betting, where players may bet a small amount on the opposing outcome to their main bet. If they do lose, the small prize is some consolation, while if they do win, the payout
will cover the two bets with a little extra.Horse racing is another area of sports betting where 'consolation betting' is popular and often occurs. The consolation double in this sense refers to the practice of following a horse through several races. If the horse is pulled from the race at the last minute, after bets have closed, then a consolation payout is usually made - a small fraction of the original stake is returned. If a horse wins and then a consolation payment is received later, this is often called the 'consolation double'.