Dutching means backing several selections in the same event and splitting your stake so that you make the same profit whichever of them wins. It’s named after the gangster Dutch Schultz, who is said to have used it. Traders use dutching on correct score and racing markets. This guide explains how dutching works, the formula behind the stakes, a worked football example, and the limits you need to know.
Read the transcript
Dutching lets you back several selections in one event and make the same profit whichever of them wins. Here’s how the stakes work, with a correct score example. You split one total stake across several outcomes, so any winner gives the same return. It’s named after the gangster Dutch Schultz, and traders use it on correct score and racing markets. Every decimal price has an implied probability: 1 ÷ the odds. Add these up for your selections. Then give each one a share of your total stake equal to its share of that sum. For example, dutch £20 on three correct scores: 1-0 at 7.0, and 2-0 and 2-1 at 9.0. That’s £7.83 on 1-0, and £6.09 on each of the others. If any of the three scores comes in, you get back about £54.80, a profit of about £34.80. Any other score loses the £20. It’s like one bet at 2.74. However, dutching doesn’t create value. It only spreads your risk. If each price is below its fair odds, the dutch is poor value too. So shop around for the best price on each selection. On an exchange, commission comes off your net profit in the market. So at 2%, that profit of £34.80 becomes about £34.10. Finally, know the limits. More selections mean a shorter combined price. Stakes round to pennies, and prices can move before you’re matched. Also, correct score markets often have low maximum stakes.
The short version
- Dutching spreads one total stake across several outcomes for an equal profit if any of them wins.
- Each stake is in proportion to that selection’s implied probability.
- The combined price is always shorter than any single price you dutch.
- Dutching doesn’t create value. It’s only worth it if each price is fair or better.
How dutching works
Every decimal price has an implied probability: 1 ÷ the odds. To dutch, you add up the implied probabilities of the selections you want, then give each one a share of your total stake equal to its share of that sum.
Stake on a selection = total stake × (1 ÷ its odds) ÷ (sum of 1 ÷ odds for all selections)
Because each stake is matched to its price, every winning selection returns the same amount. If you’re not sure about implied probability, our guide to what betting odds really say explains it.
Worked example: dutching correct scores
Worked example
You expect a narrow home win and want to dutch three correct scores with a total stake of £20: 1-0 at 7.0, 2-0 at 9.0 and 2-1 at 9.0.
- Implied probabilities: 1 ÷ 7 = 0.143, 1 ÷ 9 = 0.111, 1 ÷ 9 = 0.111. Sum: 0.365.
- Stake on 1-0: £20 × 0.143 ÷ 0.365 = £7.83.
- Stake on 2-0: £20 × 0.111 ÷ 0.365 = £6.09.
- Stake on 2-1: £6.09.
- Return if any of the three scores is correct: about £54.80, so a profit of about £34.80.
- If the match ends in any other score, you lose the £20.
The combined price is 1 ÷ 0.365 = 2.74. In other words, dutching these three scores is the same as one bet at 2.74 that wins if the home side wins 1-0, 2-0 or 2-1.
Dutching and value
Dutching changes how you spread risk. It doesn’t change the expected value of your bets. If each price is below its fair odds, the dutch is poor value too, just across more outcomes.
So the question is the same as for any bet: are these prices bigger than the true chance? Our guides to fair odds and expected value show how to check. Shopping around helps, because the best price on each selection may be at a different bookmaker or exchange.
Dutching on a betting exchange
On an exchange, dutching works the same way, but commission comes off your net profit in the market. With the example above at 2% commission, the £34.80 profit becomes about £34.10. Our guide to exchange commission explains the sums.
Exchanges also let you lay several outcomes at once, which some traders call lay dutching. That’s the reverse: you win if none of your laid selections wins, and your liability is spread across them.
The limits of dutching
- More selections, shorter price. Add enough outcomes and the combined price can drop below evens, so a win barely covers the risk.
- Rounding. Exchanges and bookmakers take stakes in pennies, so returns may differ by a few pence.
- Price changes. If one price moves before your bets are matched, the stakes no longer balance.
- Bookmaker limits. Correct score markets often have low maximum stakes, and frequent multi-selection bets can lead to account restrictions.
As with any method, start small, keep a record of every bet, and stay within a fixed budget. Our bankroll management guide explains how.
Related guides
18+ only. Betting should be fun, and every bet can lose. Set a budget you can afford to lose and stick to it. For free, confidential support, visit BeGambleAware.org or call the National Gambling Helpline on 0808 8020 133.