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Dutching is a form of betting on horse racing whereby the punter backs more than one horse with a respective stake that means they win the same amount regardless of which one of the backed horses wins the race.
Typically you might back two of the more fancied runners which means the bets will produce a high strike rate but relatively low return on investment. Dutching is a method by which several selections are covered and stakes are adjusted based on the odds on offer and the target win.
One of the most common bets on a race is a single on the horse to win but it is possible to bet on horses to be placed through each-way betting. Dutching covers more than one horse to guarantee a profit target. Here is a simple example:
Horse A is Evens
Horse B is 3/1
If you stake £100 on Horse A and £50 on Horse B there are three potential outcomes:
Horse A wins so you win £100 but lose £50 for a net profit of £50.
Horse B wins so you win £150 but lose £100 for a net profit of £50.
Neither Horse A or Horse B Wins you lose £150.
If three out of four dutched races produce the winner the punter will break even, if two out of four dutched races produce the winner you will make a loss, and if four out of four dutched races produce the winner you will make a profit.
Dutching races deliver a strike rate of over 80% to make money at these odds and the bettor will be backing the first and second favourite so this is feasible.
You can apply dutching to other sports and it is useful when betting on a tournament in sports such as football, tennis and golf.