Educational use only. This calculator is for educational purposes. It models expected values but cannot predict outcomes. Gambling involves risk and modelled results do not guarantee any return.
Dutching Calculator
Enter your total stake and the decimal odds for 2 to 6 selections. The calculator splits the stake so that each selection returns the same payout if it wins.
How to Use This Calculator
Total stake is the total amount you want to commit across all selections. The calculator splits this proportionally.
Decimal odds for each selection are the current bookmaker prices. Enter the odds you can actually get, not rounded values. The Dutch formula is sensitive to odds: a small change in one selection’s odds changes all stakes.
Number of selections is how many runners you are dutching. Use the number buttons to add or remove selections. Two to six selections are supported.
Worked Example
Suppose you have identified two runners in the same race, both underpriced relative to your probability estimates:
- Runner A at odds of $3.00 (decimal)
- Runner B at odds of $5.00 (decimal)
- Total stake: $100
Calculation:
- Inverse of Runner A: 1 / 3.00 = 0.333
- Inverse of Runner B: 1 / 5.00 = 0.200
- Inverse sum: 0.333 + 0.200 = 0.533
- Runner A stake: $100 x (0.333 / 0.533) = $62.50
- Runner B stake: $100 x (0.200 / 0.533) = $37.50
- If Runner A wins: $62.50 x 3.00 = $187.50
- If Runner B wins: $37.50 x 5.00 = $187.50
Both selections return the same $187.50. The equal payout is: $100 / 0.533 = $187.50. Net profit if either wins: $87.50 on $100 total staked.
When Dutching Makes Sense
Dutching is not a guarantee of profit. It guarantees equal payout if any covered selection wins: it does not guarantee that one will win, and it does not protect you if none of your selections win.
The case for dutching rests on positive EV across the covered selections. If Runner A has a true probability of 45% (implied by fair odds of 2.22) but is offered at 3.00, and Runner B has a true probability of 25% (implied by fair odds of 4.00) but is offered at 5.00, then both bets have positive EV. Dutching lets you capture the EV from both without needing to guess which specific runner wins.
Dutching is not a substitute for edge. If the selections are fairly priced or overpriced, dutching spreads the loss proportionally rather than generating profit.
For the broader context of EV betting and why identifying underpriced runners matters, see the EV betting Australia guide.
For a conceptual explanation of how dutching works and how the formula derives, see the dutching explained simply guide.
Relationship to Kelly Criterion
Dutching and Kelly answer different questions. Kelly asks: how much of my bankroll should I stake on a single selection with a known edge? Dutching asks: given a fixed total stake, how do I split it across multiple selections for equal payout?
In practice, you might use Kelly sizing to determine the total stake for the race, and then use the dutching formula to split that total across two or more selections. The two tools are complementary rather than competing.
See the Kelly criterion calculator for bankroll-proportional stake sizing on individual bets.
Related Reading
- Dutching explained simply: the formula, mechanics, and when it helps
- EV calculator: confirm each selection has positive EV before you dutch them
- Kelly criterion calculator: size the total stake before splitting it
- EV betting Australia guide: AU-specific EV betting context
For the true probability signal that identifies underpriced runners worth dutching, see EVSTREAM. For how we evaluate EV signal tools against each other, see our scoring methodology.