Dutch Betting

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Also referred to as “dutching” or the “dutch win system,” dutch betting is a form of multi-layer wagering, often applied to horse racing or dog racing, as a way to cover multiple positions within the same race. It involves structuring a number of bets in such a way that a predictable profit is earned no matter which bet is ultimately the correct one. Adherents say they like it as a slow but relatively sure way to make money.

According to most accounts, “dutch” betting was named after its creator, “Dutch” Schultz, a rum-running, racketeering contemporary of famous mobsters like Al Capone and Lucky Luciano. Born in 1901, Schultz lived a wild and brutal life in New York before he was assassinated in 1935. One of his most infamous money-making schemes was to rig the results of the Harlem numbers racket, which were linked to the wagering at a local racetrack. Schultz figured out how to place bets at the last minute in order to manipulate the odds and control what numbers came up.

While spending so much time at the track, Schultz also came up with a way of betting on horses that he liked in a race so that no matter which one of them won, he’d get the same payout. To begin, he had to know the odds on each of his picks, say 3.0 on Horse One and 5.0 on Horse Two. Then, he would decide how much of his bankroll he was willing to risk—for example, the equivalent of £100

This is where a bit of math comes in handy. The stake must be split between the two picks so that they will each produce the same profit result, regardless of whichever one wins. In this case, the appropriate amounts would be £62.50 on Horse One and £37.50 on Horse Two for a total stake of £100. If Horse One wins, the payout is 3.0 x £62.50 = £187.50, less the total investment of £100 for a net profit of £87.50. If Horse Two wins, the payout is 5.0 x £37.50 = £187.50, less the total investment of £100 for the same net profit of £87.50.

Schultz did not stop at applying his system to two horses, however. He discovered that the same approach could be applied to three picks in a race, spreading the total stake among them so that a predictable profit would be returned regardless of which one of the three was triumphant. Depending on the odds involved, the return can be quite small, however, which is why dutching is seen by most punters as a slow/low return system.

The obvious drawback of dutch betting is what happens when the selected horses all lose. The entire stake will be lost and it can take a series of at least two dutch system wins or more to recover it. For this reason it is important for the bettor to become adept at selecting races and horses to “dutch.” Characteristic of such races are co-favourites, or at least no dominant entry, as well as small fields that reduce the risk of a long shot pulling through.

Making the calculation of how much to wager on each horse is rather simple when only two picks with whole-number odds are involved, but it can get a bit more complicated when fractional odds must be converted to decimal and three picks are made. That’s why it is advisable to bookmark a “dutching calculator” on the Internet to work out the stakes automatically. Simply input the key variables and the calculator will indicate exactly how much to wager on each pick, along with the anticipated profit.

Published on: 01/07/2013

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