Dutching Calculator: Equal Profit Bets

Dutching is a betting strategy that allows you to back multiple selections in the same event while guaranteeing the same profit regardless of which selection wins. Our dutching calculator handles all the complex math for you, calculating exactly how much to stake on each selection to equalize your returns.

Whether you believe the favorite will lose but cannot decide which challenger will win, or you want to spread risk across multiple outcomes, dutching provides a systematic approach to multi-selection betting. This guide explains how dutching works, when to use it, and how to maximize your results using our calculator.

What Is Dutching in Betting?

Dutching is a betting technique where you place bets on multiple selections in the same event, with stake sizes calculated to return the same profit whichever selection wins. The name comes from Dutch Schultz, a notorious 1930s gangster who reportedly used this method at horse racing tracks to spread his risk while maintaining consistent profits.

The core principle is straightforward: instead of betting your entire stake on a single selection, you distribute it proportionally across several selections based on their odds. Higher odds selections receive smaller stakes, while lower odds selections receive larger stakes. When calculated correctly, every winning outcome produces identical profit.

This differs from simply placing multiple equal bets. If you bet $100 on three different horses at +200, +400, and +600 respectively, your returns vary dramatically depending on which wins. With dutching, you calculate specific stake amounts that normalize your profit across all covered outcomes.

Consider a horse race where you believe the 2-1 favorite will not win. Three other horses at +300, +500, and +800 look viable. Rather than picking one or randomly splitting your bankroll, dutching calculates the optimal stake for each horse so that backing any of those three winners returns the same profit.

How the Dutching Calculator Works

Our dutching calculator simplifies what would otherwise require complex manual calculations. Here is how to use it effectively.

Step 1: Enter Your Total Stake

Input the total amount you want to wager across all selections. This is your combined bankroll for this particular dutch bet. For example, if you want to risk $100 total on your dutching strategy, enter $100.

Step 2: Add Your Selections

For each selection you want to include in your dutch bet, enter the odds. You can typically input odds in American (+150, -110), decimal (2.50, 1.91), or fractional (3/2, 10/11) format depending on the calculator.

Add as many selections as needed. Most dutching bets involve 2-4 selections, though the calculator handles any number.

Step 3: Review the Results

The calculator displays:

Output	What It Means
Individual Stakes	The exact amount to bet on each selection
Potential Profit	The guaranteed profit if any selection wins
Return on Investment	Your profit as a percentage of total stake
Combined Implied Probability	Total probability covered by your selections

If the combined implied probability exceeds 100%, your dutch bet guarantees a loss regardless of outcome. The calculator warns you when this happens, indicating you need better odds or fewer selections.

The Math Behind Dutching

Understanding the dutching formula helps you verify calculations and make better betting decisions. The math ensures equal profit across all winning outcomes.

The Basic Formula

For each selection in your dutch bet, the individual stake is calculated as:

Individual Stake = Total Stake multiplied by (Selection Implied Probability divided by Sum of All Implied Probabilities)

Where implied probability for American odds converts as follows:

• Positive odds: 100 divided by (odds + 100)
• Negative odds: odds divided by (odds - 100), expressed as absolute value

Worked Example: Two Selections

You want to dutch $200 across two selections:

• Selection A: +200 (decimal 3.00)
• Selection B: +400 (decimal 5.00)

Step 1: Calculate implied probabilities

• Selection A: 100 / (200 + 100) = 0.3333 (33.33%)
• Selection B: 100 / (400 + 100) = 0.20 (20%)
• Combined: 0.3333 + 0.20 = 0.5333 (53.33%)

Step 2: Calculate individual stakes

• Selection A stake: $200 times (0.3333 / 0.5333) = $125.01
• Selection B stake: $200 times (0.20 / 0.5333) = $74.99

Step 3: Verify equal profits

• If Selection A wins: $125.01 times 3.00 = $375.03 return, minus $200 total stake = $175.03 profit
• If Selection B wins: $74.99 times 5.00 = $374.95 return, minus $200 total stake = $174.95 profit

The tiny difference comes from rounding. Both outcomes yield approximately $175 profit on a $200 total stake, representing an 87.5% return.

Worked Example: Three Selections

Now consider a horse race with three selections from your $150 total stake:

• Horse A: +150 (decimal 2.50)
• Horse B: +300 (decimal 4.00)
• Horse C: +700 (decimal 8.00)

Step 1: Calculate implied probabilities

• Horse A: 100 / 250 = 0.40 (40%)
• Horse B: 100 / 400 = 0.25 (25%)
• Horse C: 100 / 800 = 0.125 (12.5%)
• Combined: 0.775 (77.5%)

Step 2: Calculate individual stakes

• Horse A stake: $150 times (0.40 / 0.775) = $77.42
• Horse B stake: $150 times (0.25 / 0.775) = $48.39
• Horse C stake: $150 times (0.125 / 0.775) = $24.19

Step 3: Verify equal profits

• Horse A wins: $77.42 times 2.50 = $193.55 return, minus $150 = $43.55 profit
• Horse B wins: $48.39 times 4.00 = $193.56 return, minus $150 = $43.56 profit
• Horse C wins: $24.19 times 8.00 = $193.52 return, minus $150 = $43.52 profit

All three outcomes produce approximately $43.50 profit (29% return), but only if one of these three horses wins. If any other horse wins, you lose your entire $150 stake.

When to Use Dutching

Dutching works best in specific situations where spreading risk across multiple selections makes strategic sense.

Eliminating the Favorite

The most common dutching scenario involves races or matches where you have strong conviction the favorite will not win but cannot identify which specific underdog will prevail. By dutching all reasonable alternatives, you profit regardless of which non-favorite comes through.

In horse racing, this often means backing the second through fourth choices against a vulnerable favorite. In tennis, you might dutch two unseeded players against a struggling seed. The key is having genuine analytical reason to oppose the favorite, not just hoping for an upset.

Value Across Multiple Selections

Sometimes your analysis identifies value in several selections rather than just one. Perhaps three horses in a field show positive expected value based on your model. Rather than picking one and potentially missing the winner, dutching captures value from whichever selection wins.

This approach works particularly well with proprietary models or sharp analysis that identifies mispriced odds across multiple runners. If your edge exists across several selections, dutching ensures you capitalize on it.

Reducing Variance

Dutching inherently reduces variance compared to single-selection betting. Instead of winning big or losing everything, you win a moderate amount whenever any of your selections hits. For bettors prioritizing consistent returns over occasional large wins, dutching provides that steadier experience.

However, reduced variance also means reduced maximum upside. You sacrifice the possibility of a huge win on a longshot to guarantee smaller wins more frequently.

Markets with High Juice Favorites

In markets where bookmakers heavily juice favorites, dutching underdogs can extract value. If the favorite is overpriced due to public money, the remaining selections often offer better aggregate odds. Dutching those underdogs captures any inefficiency the market creates.

Dutching vs. Other Betting Strategies

Dutching occupies a specific niche among advanced betting strategies. Understanding how it compares helps you choose the right approach.

Dutching vs. Arbitrage Betting

Arbitrage betting, covered in depth in our arbitrage betting guide, guarantees profit by exploiting odds discrepancies across different sportsbooks. You back one outcome at Sportsbook A and the opposite outcome at Sportsbook B, with calculations ensuring profit regardless of result.

Dutching differs fundamentally: you bet at one sportsbook on multiple selections within the same event. There is no guaranteed profit unless your selections cover enough probability to overcome the vig. Arbitrage guarantees profit through market inefficiencies; dutching requires at least one of your selections to win.

Use our arbitrage calculator to identify true arbitrage opportunities. Use the dutching calculator when you want to back multiple selections without relying on cross-book price differences.

Dutching vs. Hedging

Hedging involves placing additional bets to reduce risk on an existing position. You already have a bet in play, and you place new bets to guarantee some profit or minimize potential losses.

Dutching sets up multiple bets simultaneously at the start. You are not protecting an existing position but rather creating a diversified position from scratch. Hedging reacts to changing circumstances; dutching proactively spreads risk before anything happens.

Dutching vs. Lay Betting

On betting exchanges, lay betting allows you to bet against a selection winning. If you believe the favorite will lose, you can lay the favorite directly rather than backing all alternatives.

Lay betting is more capital efficient for opposing favorites since you only need one bet. However, lay betting exposes you to potentially large liability if the favorite wins, whereas dutching limits your loss to your total stake if none of your selections win.

Exchange availability also matters. Lay betting requires a betting exchange with sufficient liquidity, while dutching works at any traditional sportsbook.

Dutching Calculator Examples

Let us walk through practical dutching scenarios you might encounter.

Example 1: Soccer Match - Fading the Home Favorite

Manchester City hosts a mid-table opponent at home and is heavily favored at -200. You believe City will struggle based on fixture congestion and key injuries, but you cannot decide whether the match ends in a draw or an away upset. Dutching lets you back both non-City outcomes.

Outcome	Odds	Implied Probability
Draw	+240	29.41%
Away Win	+280	26.32%

Total stake: $200

Calculator results:

• Draw stake: $105.56 (29.41% / 55.73% of stake)
• Away Win stake: $94.44 (26.32% / 55.73% of stake)

Combined implied probability: 55.73%

If the match draws: $105.56 × 3.40 = $358.90 return, profit = $158.90 If away team wins: $94.44 × 3.80 = $358.87 return, profit = $158.87

You profit approximately $158.90 (79.4% return) if either the draw or away win occurs. If Manchester City wins, you lose your $200 stake. This is a valid dutch because draw and away win are mutually exclusive outcomes within the same match.

Example 2: Horse Racing - Against the Favorite

At Churchill Downs, the 4-5 favorite looks vulnerable. You want to back the next three horses in the betting:

Horse	Odds
Second Choice	+350
Third Choice	+600
Fourth Choice	+1200

Total stake: $100

Calculator results:

• Second Choice stake: $50.27 (implied probability 22.22%)
• Third Choice stake: $32.33 (implied probability 14.29%)
• Fourth Choice stake: $17.40 (implied probability 7.69%)

Combined implied probability: 44.20%

If Second Choice wins: $50.27 × 4.50 = $226.22 return, profit = $126.22 If Third Choice wins: $32.33 × 7.00 = $226.31 return, profit = $126.31 If Fourth Choice wins: $17.40 × 13.00 = $226.20 return, profit = $126.20

You profit approximately $126.25 if any of these three horses wins. Combined implied probability is only 44.20%, leaving significant exposure to the favorite or other longshots winning.

Example 3: Tennis - Backing the Field

In a tennis tournament quarter, you believe the top seed will lose but cannot pick between their three possible opponents who advanced:

Player	To Win Match vs. Top Seed
Player B	+180
Player C	+225
Player D	+275

Wait, this scenario does not work directly since these players face the seed in different matches. Dutching applies to multiple selections within the same event.

Corrected example: The top seed faces Player B. You want to dutch multiple game lines within that match:

• Player B to win Set 1: +145
• Match to go 3 sets: +130
• Player B to win match: +180

This still is not pure dutching since these outcomes are not mutually exclusive. True dutching requires mutually exclusive selections where exactly one can win.

Proper tennis dutching example: Futures market for tournament winner where you back three non-favorites:

• Player X: +800
• Player Y: +1000
• Player Z: +1500

Total stake: $50

Calculator results:

• Player X stake: $21.00 (implied probability 11.11%)
• Player Y stake: $17.18 (implied probability 9.09%)
• Player Z stake: $11.82 (implied probability 6.25%)

Combined probability covered: 26.45%

If Player X wins: $21.00 × 9.00 = $189.00 return, profit = $139.00 If Player Y wins: $17.18 × 11.00 = $188.98 return, profit = $138.98 If Player Z wins: $11.82 × 16.00 = $189.12 return, profit = $139.12

You profit approximately $139 if any of your selections wins the tournament.

Advanced Dutching Strategies

Once you master basic dutching, consider these advanced approaches.

Partial Dutching for Higher Returns

Rather than equalizing profit across all selections, you can weight stakes toward selections you have higher confidence in while still providing coverage on others. This creates unequal profits but potentially higher expected value based on your analysis.

Use the dutching calculator to find the equal-profit stakes, then manually adjust by increasing stakes on your preferred selections and decreasing others. Track whether your adjusted allocations outperform pure dutching over time.

Combining Dutching with Expected Value Analysis

The most sophisticated approach uses expected value betting principles to identify which selections to include in your dutch. Rather than arbitrarily picking several selections, calculate the EV of each potential inclusion.

If Selection A has +8% EV and Selection B has +2% EV, you might dutch both but weight more heavily toward Selection A. Or you might exclude Selection B entirely if its lower EV drags down your overall expected return.

Live Betting Dutching

As events progress, odds shift dramatically. A horse that broke poorly might drift from +400 to +1000. A tennis player who lost the first set might move from +150 to +350.

Savvy bettors monitor their dutched positions during events and add selections when odds become favorable. If you dutched three horses pre-race and a fourth drifts significantly, adding that fourth horse can improve your overall position.

However, live dutching requires quick calculations and fast execution before odds move again. Having the calculator ready helps capitalize on fleeting opportunities.

Dutching Across Correlated Markets

Some bettors apply dutching concepts across correlated markets within the same event. For example, backing Under 45.5 total points AND a specific team to win by 1-6 points in an NFL game. These outcomes correlate positively, though they are not truly mutually exclusive.

This is not pure dutching since both bets could win or lose together. However, the stake allocation principles from dutching can inform how you distribute bankroll across correlated legs.

Common Dutching Mistakes to Avoid

Even experienced bettors make these errors when dutching.

Ignoring the Vig

Every selection in your dutch includes bookmaker margin. When you combine multiple selections, you combine multiple layers of vig. If each selection carries 5% juice, a four-selection dutch might face 20% effective vig against you.

Check that your combined implied probability stays comfortably below 100%. If it approaches or exceeds 100%, the vig makes profitable dutching impossible.

Including Too Many Selections

More selections means more coverage but lower profit per winner. Each additional selection dilutes your return while adding marginal probability coverage. Focus on 2-4 selections with the best odds rather than trying to cover every possible outcome.

Not Accounting for Minimum Bets

Sportsbooks enforce minimum bet amounts, often $1-$10. If your dutching calculation produces a $0.43 stake on a longshot, you cannot place that bet. You must either increase total stake, remove that selection, or accept unequal profits by rounding up.

Chasing Losses Through Dutching

Dutching should not be a recovery mechanism for prior losses. Some bettors increase their dutching stakes after losing streaks, hoping to recoup through guaranteed smaller wins. This compounds problems rather than solving them.

Treat each dutching opportunity independently based on its own merits, not on your need to recover past losses.

Overlooking Better Alternatives

Sometimes a single-selection bet offers better expected value than any dutch combination. If one horse shows +15% EV while a three-horse dutch shows +6% EV, the single bet is mathematically superior despite higher variance.

Do not automatically dutch just because you have conviction against the favorite. Analyze whether dutching actually improves your expected return or just your psychological comfort.

Dutching Calculator Tips for Success

Follow these guidelines to improve your dutching results.

Start Simple

Begin with two-selection dutches before advancing to three or more. Two selections make the math clearer and help you understand the dynamics before adding complexity.

Shop for Best Odds

Since dutching combines multiple selections, small odds improvements compound significantly. Finding +320 instead of +300 on one selection might add several percentage points to your overall return.

Check multiple sportsbooks for best available odds on each selection before locking in stakes. The few minutes spent comparing prices often adds meaningful value.

Track Your Results

Maintain records of your dutch bets including:

• Selections and odds
• Individual stakes and total stake
• Outcome and actual profit/loss
• Notes on your reasoning

Over time, this data reveals whether your dutching strategy generates positive returns and which types of dutches perform best.

Manage Your Bankroll

Dutching should represent a defined portion of your betting bankroll. A common approach allocates 2-5% of bankroll per dutch bet. This allows you to sustain losing streaks where none of your selections win while preserving capital for when they do.

Never dutch with money you cannot afford to lose. Despite the equal-profit structure, you still risk your entire stake when no selection wins.

Combine with Sound Analysis

Dutching is a stake allocation tool, not a selection method. It cannot turn bad picks into profitable bets. Your underlying analysis must identify selections with genuine win probability that justifies their odds.

Use dutching to distribute stakes efficiently once you have identified worthwhile selections through proper handicapping.

Frequently Asked Questions

What is a dutching calculator used for?

A dutching calculator determines the exact stake to place on each selection in a multi-selection bet so that you win the same profit regardless of which selection wins. You input your total stake and the odds for each selection, and the calculator outputs individual stake amounts that equalize your potential returns across all covered outcomes.

Is dutching the same as arbitrage betting?

No, dutching and arbitrage are different strategies. Arbitrage exploits odds differences between sportsbooks to guarantee profit on opposite outcomes. Dutching places multiple bets at one sportsbook on several selections within the same event, with no guaranteed profit unless one of your selections wins. Arbitrage eliminates risk; dutching only spreads it.

Can you make guaranteed profit with dutching?

Dutching does not guarantee profit. You guarantee equal profit if any of your selections wins, but if none wins, you lose your entire stake. The only way to guarantee profit would be if your combined implied probability stayed below 100% while covering every possible outcome, which bookmaker margins typically prevent.

How many selections should I include in a dutch bet?

Most effective dutch bets include 2-4 selections. Adding more selections increases your coverage but reduces profit per winner. Focus on selections where you have analytical conviction rather than trying to cover every possible outcome. Quality of selections matters more than quantity.

Does dutching work for all sports?

Dutching works for any market with multiple mutually exclusive outcomes: horse racing (multiple horses), football futures (multiple teams), tennis (tournament winners), and similar markets. It does not apply to markets where selections can both win, like over/under totals combined with spreads.

When should I use dutching instead of a single bet?

Use dutching when you have strong conviction against one outcome but cannot identify which alternative will win. If you believe the favorite will lose but see value in three different underdogs, dutching captures profit from whichever underdog comes through. If you strongly favor one specific selection, a single bet often offers better expected value.

How does the vig affect dutching profits?

The vig compounds across multiple selections in a dutch bet. Each selection carries bookmaker margin, so combining three selections means absorbing three layers of juice. If your combined implied probability exceeds 100%, you face guaranteed losses regardless of outcome. Always check that your total implied probability stays well below 100% for profitable dutching.

Can I dutch live bets during an event?

Yes, live dutching is possible but requires quick execution. As events progress, odds shift rapidly. Adding new selections to an existing dutch position can improve your overall expected return, but you must calculate and place bets quickly before odds move. Having your calculator ready for live situations helps capitalize on opportunities.