Dutching Calculator

Q: Does dutching guarantee I win money?

No. Dutching only promises the same return if one of your picks wins . If none of them win, you lose your whole stake. You only lock in a sure profit when the combined implied probability is under 100%, which the calculator flags as an arbitrage.

Q: What happens if none of my selections win?

You lose every stake you placed. The bet slip shows a loss for each pick that does not win, and the total stake is gone. That is why the profit shown is only paid out when one of your listed picks comes in.

Q: What does Return on Outlay mean?

It is your profit divided by your total stake, shown as a percent. Example: £20 profit from a £100 total stake is 20%. In Equal Stakes mode you get a range, because each winner pays a different amount.

Q: What is the difference between Gross Return and Net Profit?

Gross Return is the money the bookmaker pays you on the winning bet, after commission. Net Profit takes off the money you staked on all the selections, including the losers. Net profit is what you actually keep.

Q: Why does the calculator say my target profit cannot be reached?

In Target Profit mode the tool works backwards from the profit you want. If your odds do not produce a guaranteed profit, no stake size can get there. Fix it by finding better prices, cutting a weak selection, or switching the stake input to Total Stake.

Q: Can I dutch across two or more bookmakers?

Yes. Just enter the best price you can get for each pick, no matter which site it comes from. Using the top price at several books is how most arbitrage chances show up.

Q: Do I have to back every possible outcome?

No. You can back any number of picks from 2 to 10, like three horses in a 12-runner race. Backing fewer picks means a bigger profit but a smaller chance one of them wins.

Q: Should I round my stakes to whole pounds or dollars?

You can, but rounding makes the returns slightly uneven. Round up on the short prices and down on the long prices if you want to stay safe. For the exact equal return, use the pence and cents shown.

Q: How many selections should I dutch?

More picks give you a better chance of a winner, but each extra pick adds more bookmaker margin, so your profit shrinks. Most bettors stick to 2–4 picks. Watch the Total Implied Probability number — the lower it stays, the better.

Q: Can I mix a free bet and a cash bet in one calculation?

No. The Bet Type setting applies to every selection at once. Pick the type that matches your bets. If you have one free bet and one cash bet, work them out separately.

Dutching Calculator

Updated Aug 17, 2026 By Jehan Wadia

Selection	Decimal Odds	Implied %	Commission	Stake	Gross Return	Net Profit / Loss
Totals	—	—	—

Selection

Decimal Odds

Implied %

Commission

Stake

Gross Return

Net Profit / Loss

Totals

—

Introduction

Dutching means backing more than one pick in the same event so you win the same amount no matter which one comes in. This Dutching Calculator does the hard math for you. Type in your odds and how much you want to bet, and it splits your stake across each pick for you.

You can enter odds as decimal (2.50), fractional (5/2), or American (+150). Pick your currency, add up to 10 selections, and choose what your stake means: a total stake, a stake on the first pick, or the profit you want to end up with. There is also an Equal Stakes mode if you would rather bet the same amount on each pick.

The calculator shows your stake per selection, your return, your profit, and the bookmaker's overround. If the odds are good enough that you win money no matter what, it flags that as an arbitrage — you can then double-check the numbers with our Surebet Calculator or the broader Arbitrage Calculator. Charts show how your money is split, and a step-by-step section shows every formula used, so you can check the numbers yourself.

How to use our Dutching Calculator

Enter your odds, your stake, and any commission for each selection. The calculator splits your money across every bet and shows the stake, return, and profit for each one, plus the total implied probability and bookmaker margin.

Odds Format: Pick how you want to type your prices — Decimal (5.00), Fractional (4/1), or American (+400). Change it any time and your odds convert right away. If you only need a straight price conversion, the Odds Calculator and Betting Odds Calculator handle that on their own.

Calculator Mode: Choose "Dutch (Equal Return)" to win the same amount no matter which pick lands. Choose "Equal Stakes" to bet the same amount on each pick.

Stake Input Represents: Tell the tool what your money box means. Pick "Total Stake" to split a set amount, "First Selection Stake" to build the bets around your first pick, or "Target Profit" to work backwards from the profit you want.

Bet Type: Choose "Standard Bet" if your stake comes back with a win. Choose "Free Bet" if you only keep the winnings — our Free Bet Calculator covers single free bets in more detail.

Currency Symbol: Pick the symbol you want to see, like £, $, or €. This only changes the display, not the numbers.

Total Stake (or Profit) Amount: Type the amount of money you want to bet, or the profit you want to make. It must be more than zero. If you would rather size stakes from your edge and bankroll, try the Kelly Criterion Calculator.

Selection Odds: Type the price for each pick in the format you chose. Decimal odds must be 1.01 or higher.

Commission (%): Type the fee your betting exchange takes from winnings, like 2 or 5. Leave it at 0 if there is no fee.

Add Selection: Click this to add more picks, up to 10. Use the red X button to remove one, with a minimum of 2 picks.

Calculate and Reset: Click "Calculate" to see your stakes, returns, charts, and step-by-step maths. Click "Reset" to start again with the default settings.

What Is Dutching in Betting?

Dutching means backing two or more picks in the same event so you win the same amount no matter which one comes in. Instead of putting all your money on one horse or one team, you split your stake across a few of them. The trick is that you don't split it evenly. You put more money on the short-priced picks and less on the long-priced ones, so every winning result pays back the same return. For single bets and simple each-way returns, use the standard Bet Calculator instead.

How Dutching Works

Every price has an implied probability, which is the chance the bookmaker thinks that pick has. In decimal odds you find it by dividing 1 by the odds. Odds of 4.00 mean 1 ÷ 4.00 = 0.25, or a 25% chance. If you want to strip the margin out and see the true chance behind each price, run the numbers through the No Vig Calculator.

Add up the implied chances of all your picks. That total tells you if the bet is worth it:

Under 100% — you lock in a profit no matter which pick wins. This is called an arbitrage (or "arb").
Exactly 100% — you break even.
Over 100% — the extra is the bookmaker's built-in edge, called the overround or margin. You still get the same return from each pick, but only if one of them wins. An EV Calculator will tell you whether that margin still leaves a positive expected value.

To find each stake, divide your target return by that pick's odds. A pick at 4.00 needs a quarter of the money that a pick at 1.00 would need for the same payout.

Dutching vs Equal Stakes

These are two different plans, and they do not do the same job.

Dutching (equal return): stakes change with the odds so your payout is the same every time. Best when you just want one of your picks to land.
Equal stakes: the same amount goes on each pick, so a longer price pays you much more. Best when you like all your picks but hope the big price wins.

If instead you want all your picks to win together on one ticket, that is a parlay, and covering several combinations at once is a round robin. To protect a bet you have already placed, see the Hedge Calculator.

Commission and Free Bets

Betting exchanges take a cut of your winnings, usually 2% to 5%. That commission lowers your real return, so it must be part of the maths or your numbers will be too high. Our Percentage Calculator is handy if you want to check a fee by hand.

Free bets work differently from cash bets. With a normal bet you get your stake back plus the winnings. With a free bet you only get the winnings, so a free bet at 4.00 pays 3 units, not 4. That changes how much you should put on each pick.

Odds Formats

Format	Example	Meaning
Decimal	4.00	Total payout per 1 staked, stake included
Fractional	3/1	Profit of 3 for every 1 staked
American	+300	Profit of 300 on a 100 stake

All three say the same thing. Decimal odds are the easiest to work with when dutching, since the maths is just division. If you need to turn an awkward decimal price back into a fraction, the Decimal to Fraction Calculator does it in one step.

When People Use It

Dutching is popular in horse racing, where you may fancy three runners in a big field, and in golf, darts and tennis outrights. Traders also use it to cover a market across two bookmakers when one has a high price on one side and another has a high price on the other. Watch out for prices moving, bet limits, and rules like dead heats, which can cut your payout in half. Over a season, tracking your results with a Win Rate Calculator and a ROI Calculator shows whether your dutching plan is really paying off.

Formulas used

Odds conversion to decimal (fractional and American)

O = \frac{n}{d} + 1, \qquad O = 1 + \frac{A}{100}\ (A > 0), \qquad O = 1 + \frac{100}{|A|}\ (A < 0)

Implied probability and bookmaker overround

P_i = \frac{100\%}{O_i}, \qquad \text{Overround} = \sum_{i=1}^{N} \frac{100\%}{O_i} - 100\%

Return multiplier per selection (commission, standard vs free bet)

m_i = 1 + (O_i - 1)\left(1 - \frac{c_i}{100}\right) \quad \text{(standard)}, \qquad m_i = (O_i - 1)\left(1 - \frac{c_i}{100}\right) \quad \text{(free bet)}

Dutching: equal return and individual stakes

S = \sum_{i=1}^{N} \frac{1}{m_i}, \qquad R = \frac{T}{S}, \qquad s_i = \frac{R}{m_i}

Dutching from first selection stake or target profit

R = s_1 \times m_1,\ T = R \times S \qquad \text{or} \qquad T = \frac{P \times S}{1 - S},\ R = \frac{T}{S}

Guaranteed profit and return on outlay

\text{Profit} = R - T \ \text{(standard)},\quad \text{Profit} = R \ \text{(free bet)},\qquad \text{ROI} = \frac{\text{Profit}}{T} \times 100\%

Equal stakes mode: stake per selection and returns

s = \frac{T}{N}, \qquad R_i = s \times m_i, \qquad \text{Profit}_i = R_i - T

Equal stakes from target worst-case profit

s = \frac{P}{m_{\min} - N} \ \text{(standard)}, \qquad s = \frac{P}{m_{\min}} \ \text{(free bet)}, \qquad T = s \times N

Frequently asked questions

Does dutching guarantee I win money?

No. Dutching only promises the same return if one of your picks wins. If none of them win, you lose your whole stake.

You only lock in a sure profit when the combined implied probability is under 100%, which the calculator flags as an arbitrage.

What happens if none of my selections win?

You lose every stake you placed. The bet slip shows a loss for each pick that does not win, and the total stake is gone.

That is why the profit shown is only paid out when one of your listed picks comes in.

What does Return on Outlay mean?

It is your profit divided by your total stake, shown as a percent.

Example: £20 profit from a £100 total stake is 20%. In Equal Stakes mode you get a range, because each winner pays a different amount.

What is the difference between Gross Return and Net Profit?

Gross Return is the money the bookmaker pays you on the winning bet, after commission.

Net Profit takes off the money you staked on all the selections, including the losers. Net profit is what you actually keep.

Why does the calculator say my target profit cannot be reached?

In Target Profit mode the tool works backwards from the profit you want. If your odds do not produce a guaranteed profit, no stake size can get there.

Fix it by finding better prices, cutting a weak selection, or switching the stake input to Total Stake.

Can I dutch across two or more bookmakers?

Yes. Just enter the best price you can get for each pick, no matter which site it comes from.

Using the top price at several books is how most arbitrage chances show up.

Do I have to back every possible outcome?

No. You can back any number of picks from 2 to 10, like three horses in a 12-runner race.

Backing fewer picks means a bigger profit but a smaller chance one of them wins.

Should I round my stakes to whole pounds or dollars?

You can, but rounding makes the returns slightly uneven. Round up on the short prices and down on the long prices if you want to stay safe.

For the exact equal return, use the pence and cents shown.

How many selections should I dutch?

More picks give you a better chance of a winner, but each extra pick adds more bookmaker margin, so your profit shrinks.

Most bettors stick to 2–4 picks. Watch the Total Implied Probability number — the lower it stays, the better.

Can I mix a free bet and a cash bet in one calculation?

No. The Bet Type setting applies to every selection at once.

Pick the type that matches your bets. If you have one free bet and one cash bet, work them out separately.

What happens if one of my picks is a non-runner or the bet is void?

That stake is returned to you, but your plan changes. The money left on the other picks no longer gives an equal return.

Remove the void pick from the calculator and check if you need to add another bet.

What is a dead heat and how does it affect dutching?

A dead heat is a tie for a place. The bookmaker pays only part of your bet — usually half if two runners tie.

That can turn a winning dutch into a loss, so leave yourself a safety margin on tight races.

Why must decimal odds be at least 1.01?

Odds of 1.00 pay back your stake and nothing else, so there is no bet to work out.

1.01 is the lowest price bookmakers offer, so it is the lowest the calculator accepts.

Can I use this for lay bets on an exchange?

No. This tool works out back bets only. Laying uses different maths because you risk more than you win.

To cover a bet you already placed, use a hedge calculator instead.

What does the Stake Distribution chart show?

It shows how your total stake splits across each pick, as a slice and a percent.

Short prices take the biggest slices because they need more money to reach the same return.

Can I dutch in-play?

Yes, but prices move fast. If one price drops before you place all the bets, your equal return disappears.

Place the bet on the shortest price first, then check the numbers again before you place the rest.

Will bookmakers limit my account for dutching?

Dutching is legal, but bookmakers can cut your limits if you always take the best prices or hit arbs.

Spreading your bets across a few accounts and keeping stakes tidy helps you stay under the radar.

Why did my profit drop after I typed in a commission?

Exchanges take a cut of your winnings, usually 2% to 5%. That fee comes straight off your return.

The calculator takes it off each winning bet, so the profit you see is the real amount you keep.

Rate this calculator