What does dutching change?
If you want to split one budget across a few runners, equal stakes will usually produce different returns. Dutching changes the allocation so a win by any backed runner returns roughly the same amount.
The budget stays fixed. The calculator does not choose the horses or decide whether their prices are good value.
The Betfair betting glossary describes dutching as backing a number of outcomes in one event to balance the result when a backed selection wins. That definition was checked on 18 October 2026. Our calculator uses simple back bets and excludes exchange commission.
For a race with one winner, each backed runner is a separate bet. If an unbacked runner wins, none of those bets wins. That is why the unbacked winner has its own row in the calculator.
Try your own prices
These are hypothetical inputs, not live odds, tips or suggested runners. Keep the total budget fixed, then change a price or add a selection to see how the allocations change.
A worked $100 example
Suppose three selections have decimal odds of 4.00, 6.00 and 12.00. Their reciprocal prices add to 0.50. Dividing a $100 budget in those proportions produces the following rounded split:
| Hypothetical selection | Stake | Total return if it wins | Net result across all three stakes |
|---|---|---|---|
| A at 4.00 | $50.00 | $200.00 | +$100.00 |
| B at 6.00 | $33.33 | $199.98 | +$99.98 |
| C at 12.00 | $16.67 | $200.04 | +$100.04 |
| An unbacked runner wins | — | $0.00 | −$100.00 |
The stakes add to exactly $100. The small return differences come from rounding stakes to cents. They are part of the calculation, not extra money to stake.
How is the split calculated?
For each selection, divide one by its decimal odds. Divide that result by the sum of those reciprocal prices, then multiply by the total budget.
For selection A above, the calculation is $100 × (1 ÷ 4.00) ÷ 0.50 = $50.00. The calculator rounds down to cents first, then assigns leftover cents to the selections with the largest rounding fractions. It displays returns from those rounded stakes.
Shorter prices usually need a larger share of the budget to target the same return. A price changing can therefore change several allocations. The calculation does not check whether a bookmaker will accept them.
Is dutching the same as arbitrage?
No. Backing a few runners usually covers only part of a race. A runner outside the group can win and lose the whole budget.
An arbitrage calculation depends on covering every possible outcome under matching settlement rules. Even then, prices moving, limited stakes, acceptance and voids matter. Our two-outcome arbitrage calculator is for an exhaustive two-outcome market; it should not be used to present two chosen horses in a larger race as an arb.
What still needs checking?
Confirm that the selections are in the same event and the same win market. Place bets, each-way bets, dead heats and deductions do not follow the simple example above. Minimum stake rules may also prevent a cent-rounded split from being accepted.
For an exchange, commission changes the result. This calculator does not calculate it. A scratched runner, a void or a changed market can also alter the settlement. Check the rules applying to the prices you actually use.
Where Racing fits
The public calculator handles the arithmetic without an account. Racing in BetBible is available with a free account for exploring race cards, runners and track context. It is a separate research step, not proof that a price is value.
For a Cup-day explanation, read the Melbourne Cup betting guide. For choosing between two prices on one runner, use line shopping.