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What is Dutching?

Backing several selections in an event so that no matter which wins, the returns are the same.

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Dutching is a method used to divide stake over a number of selections in an event so that the same amount is won regardless of which selection wins. This technique is useful when there are two or more outcomes you wish to back and have a specific amount to stake. Before the rise of betting exchanges, dutching was sometimes used as an elaborate way to lay (bet against) a selection by backing everything else.

The dutching calculation is not always straight-forward with varying odds and betting exchange commissions to consider. Once you are comfortable with the concepts, try using the dutching calculator on this site to work out the precise amounts to stake on each selection.

Dutching Example

Imagine a horse race in which you have identified 2 runners with odds of 11/1 and 3/1 that you would like to back. With a total stake of £10 it might be tempting to simply split this into two £5 bets; however, should the 11/1 horse win your returns would be much higher. The solution is to reduce the amount staked on the horse with higher odds and increase proportionally the stake on the other until the winnings are equal. The math behind this is as follows:

  1. First work out the implied probabilities from the odds
    • Implied Probability of an 11/1 runner = (1 / (11/1 + 1)) * 100 = 8.33%
    • Implied Probability of an 3/1 runner = (1 / (3/1 + 1)) * 100 = 25%
  2. Work out the stakes
    • Amount to stake on the 11/1 runner = (8.33 / (25 + 8.33)) * £10 = £2.50
    • Amount to stake on the 3/1 runner = (25 / (25 + 8.33)) * £10 = £7.50

Now with the stake split evenly the amount returned should any runner win is £30.

Last Update: 15th January 2016

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Also See

Dutching calculator - Work out the amount to stake so that your returns are the same no matter what the outcome. Handles exchange commision and up to 10 selections.

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