Dutching means backing two or more selections in the same event so that you win the same amount no matter which of your selections wins. You split your total stake in proportion to each selection's implied probability, so every winning outcome returns the same. If none of your selections wins, you lose your total stake.

How is dutching calculated?

Add up the inverse of each selection's decimal odds to get the book (V = 1/odds1 + 1/odds2 + ...). Your equal return is total stake ÷ V, and each stake is that return ÷ its odds. Profit is the return minus your total stake, which is positive only when V is below 1 (100%).

Is dutching the same as arbitrage?

The maths are the same — both split a stake for an equal return — but the coverage differs. Arbitrage covers every outcome of an event across bookmakers for a guaranteed profit. Dutching covers only the selections you choose (say 3 horses in a race), so you profit if one of them wins but lose if none do. Dutching is a staking method, not a guaranteed profit.

When should I dutch a bet?

Dutching is useful when you can confidently rule out some runners and want to back several of the rest for the same return — common in horse racing, each-way markets, correct-score and other multi-runner markets. It is also used in matched betting to back several outcomes instead of laying at an exchange.

What does the "Book" percentage mean?

The book is the sum of the inverse odds, shown as a percentage. Below 100% means your selections collectively offer value and dutching them returns a profit if one wins. Above 100% means the combined price is too short — even a winning selection returns less than your stake.

Can I set one stake myself?

Yes. Edit any Stake cell and the calculator switches to manual mode, recalculating the profit on each selection against your new total. This is handy when you have already placed one bet and want to balance the rest.

Dutching Calculator | Split Stakes for Equal Profit (Free)

Book:

Selections:

Enter each selection's odds and your total stake — stakes and profit update in real time. Tip: use the optional note to label each pick (horse, team, score). Edit any Stake to set it yourself.

Profit if one wins = 0%

	Odds	Stake	Profit

What is dutching?

Dutching is backing more than one selection in the same event so that you collect the same profit whichever of your selections wins. Instead of picking a single runner, you spread your stake across several — splitting it in proportion to each one's chance — so every winning outcome pays back the same amount.

The trade-off: you win the same whichever backed selection comes in, but if none of them wins, you lose your whole stake. So dutching is a staking method, not a guaranteed profit like arbitrage.

How to use the calculator

Pick your selections

How many outcomes you'll back — 2 to 10.

Enter the odds

The decimal odds for each selection.

Set the total stake

The total you want to spread across them.

Get equal profit

Each stake so any winner pays the same.

The dutching formula

book (V) = 1/odds₁ + 1/odds₂ + … | each stake = (total ÷ V) ÷ odds

V = the “book” — the sum of the inverse odds (your selections' total implied probability)
return = total stake ÷ V — the same amount back whichever selection wins
profit = return − total stake — positive only when V is below 1 (100%)

The lower the book, the bigger your profit if one of your selections wins — but the fewer outcomes you've covered, the higher the chance none of them does.

Worked example

You fancy three runners in a race at 4.00, 5.00 and 6.00, and want to stake €100 in total:

book V = 1/4 + 1/5 + 1/6 = 0.25 + 0.20 + 0.1667 = 0.6167 (61.7%)
return = €100 ÷ 0.6167 = €162.16 whichever of the three wins
stakes = €40.54 @ 4.00, €32.43 @ 5.00, €27.03 @ 6.00 (each returns €162.16)
profit if any of the three wins = €162.16 − €100 = +€62.16
but if a fourth runner wins instead, you lose the €100.

When is dutching worth it?

Dutching shines when you can confidently rule some runners out and back several of the rest for the same return — classic in horse racing, and useful in correct-score, each-way and other multi-runner markets. It's also used in matched betting to cover several outcomes with bookmakers instead of laying at an exchange.

Keep an eye on the book percentage: below 100% your selections offer value and one winner returns a profit; above 100% the combined price is too short to profit even when you're right. To size a single value bet instead, try the Kelly calculator; to guarantee profit across every outcome, see the surebet / arbitrage calculator.

Learn more about arbitrage betting

New to this? Read our full guide on what is arbitrage betting, or see the arbitrage betting formula explained step by step with worked examples. Odds in a different format? Use our odds converter to switch between decimal, fractional, American and implied probability.

Frequently asked questions

What is dutching?: Dutching means backing two or more selections in the same event so that you win the same amount no matter which of your selections wins. You split your total stake in proportion to each selection's implied probability, so every winning outcome returns the same. If none of your selections wins, you lose your total stake.
How is dutching calculated?: Add up the inverse of each selection's decimal odds to get the book (V = 1/odds1 + 1/odds2 + ...). Your equal return is total stake ÷ V, and each stake is that return ÷ its odds. Profit is the return minus your total stake, which is positive only when V is below 1 (100%).
Is dutching the same as arbitrage?: The maths are the same — both split a stake for an equal return — but the coverage differs. Arbitrage covers every outcome of an event across bookmakers for a guaranteed profit. Dutching covers only the selections you choose (say 3 horses in a race), so you profit if one of them wins but lose if none do. Dutching is a staking method, not a guaranteed profit.
When should I dutch a bet?: Dutching is useful when you can confidently rule out some runners and want to back several of the rest for the same return — common in horse racing, each-way markets, correct-score and other multi-runner markets. It is also used in matched betting to back several outcomes instead of laying at an exchange.
What does the "Book" percentage mean?: The book is the sum of the inverse odds, shown as a percentage. Below 100% means your selections collectively offer value and dutching them returns a profit if one wins. Above 100% means the combined price is too short — even a winning selection returns less than your stake.
Can I set one stake myself?: Yes. Edit any Stake cell and the calculator switches to manual mode, recalculating the profit on each selection against your new total. This is handy when you have already placed one bet and want to balance the rest.