A Crash Course in Dutching for Profit
What is the main purpose of Dutching?
The objective of Dutching is to be able to bet on multiple horses in a race (going off at all different odds) and make the same amount of profit regardless of which one wins. The technical term is called "Proportional Wagering."
How many picks can I bet?
In theory, if the track didn't take a cut of the betting pools (the vigorish or "Vig") to cover purses and other expenses, it would be possible to bet every runner. Of course such a bet would always win but would only just break even - kind of like betting both red and black in roulette.
So how do I use Dutching?
The original idea (as conceived by the Chicago mobster "Dutch" Schultz) was that if you could eliminate all the non-contenders in a race and bet on all the rest, you would always win. As long as your elimination process is perfect, this idea will still work today.
What kind of Bets can be Dutched?
You can Dutch any bet that you know the odds or probable payoff of. This includes Win, exacta, doubles, triples trifectas etc. Bets with no posted odds or payoffs such as place, show and Pick-6 bets can not be Dutched.
What about my profit?
As I mentioned in the introduction, the only disadvantage to Dutching is that it lowers the profit of the bet. And as you might expect, the more horses you Dutch, the more losing tickets you will end up with, so naturally, the lower the profit will be.
Is there any way to improve the profit on a Dutch?
The simplest way is to play fewer picks. The biggest mistake most people make it to try to include every horse that has any chance of possibly winning. While this does result in more winning bets it can actually result in a lower overall profits. In other words it might be better to raise the profit per bet by throwing out a horse here and there and taking the occasional loss now and then. For example, if you could double the profit-per-race you could then afford to lose every other Dutch and still make the same overall profit. Chances are, carefully tossing out a horse or two won't result in that many more losses.
How can I tell if a pick can be safely eliminated?
The hardest thing about deciding whether to play a pick or toss it out is in figuring out how much the profit will improve if you pass it versus how much you would lose if you don't bet it and it ends up winning. If you had a guess as to the likelihood (odds) that the pick in question might actually win, you could actually figure out whether or not you should bet it. Of course trying to do that even with a calculator is out of the question, especially close to post time. Fortunately, both D.W.E.E.B. and Multi-Bet will do these calculations automatically for every pick and with a simple click will let you know if you should play the pick or leave it out. No other Dutching programs have this feature.
How can Hedging help improve Profits?
When you hedge a bet you only bet enough on it to win enough to break even for the overall wager. To understand why this can be useful we have to look at how Dutching actually works. In order to make exactly the same amount of profit no matter what the odds of the winner are it is necessary to use proportional betting. This means betting more money on the low-odds picks and less on the longshots. If we have a pick that is going off at very low odds it might require a huge chunk of our bankroll to cover it in the Dutch. If we like the horse we certainly don't want to leave it out, but leaving it in is killing our profits! In these cases, hedging is the perfect solution. By hedging a pick we reduce the overall bet cost which increases the profit whenever one of the non-hedged picks wins. If the heavily bet favorite wins, we break even and get all our bet money back - as if the race never happened. No harm, no foul. So how well can this work? Well, if we can double our profit by hedging the favorite, and if the favorite wins only 1 out of 3 races we will have doubled our profit in 2 out of 3 races and got our bet back on the other. Pretty slick, eh?
What else can Hedging do?
There is another great use for hedging which often involves high-paying picks. In many races there are one or more "Danger" horses - entries we don't know much about. They might be "shippers" coming in from another track or matbe coming off a long layoff with a couple of good or maybe hidden workouts. Usually we don't pay them much attention unless they start getting a lot of betting action, but once in a while they beat us out and we lose the Dutch to them. Hedging can be used as a cheap insurance policy against these invaders. Since the odds on these picks are usually relatively high, we can afford to hedge them for next to nothing. That way whenever they to try to spoil our Dutch, we at least get our money back, so we won't lose a dimie to these guys again! AS you can see, the hedging feature can pay for itself in just a few uses.
Are there any other ways I can improve my Profits?
Yes and No. While there are no other tricks to boost profits for any one race, it is possible to improve our overall profit using a wagering method I refer to as percentage-of-bankroll wagering. This method was originally developed as a way to play round-robin parlays as part of my PARLAYMASTER wagering system. Since then I have redefined it into a separate and complete wagering system which I call PERCENTMASTER - part of my Playing the Percentages method. Percentage-of-bankroll wagering involves changing the bet size over a series of bets depending on the results of the previous bets. This method is greatly improved when we have a large percentage of winning bets per day - which is exactly what Dutching does for us. It turns out that Dutching and Parlays can go hand-in-hand!
What are the differences between the Multi-Bet and DWEEB programs?
The primary difference between the two programs is that D.W.E.E.B. is specifically designed only for exotic wagers - Exactas, Trifectas, Quinellas and Daily Doubles. While Multi-Bet can also do Win Dutches, it can only handle 12 entries which is plenty for win Dutches but can limit the size of boxes and wheels you can do with exotic wagers. D.W.E.E.B. can handle much larger exotic Dutches - up to 24 combinations - and makes it a bit easier to enter the picks. It lacks the timer feature, Dutch Doctor and a few other minor items. The two programs together represent a formidable arsenal for serious handicappers.
How easy is it to combine Dutching with Parlays?
As I mentioned earlier, Dutching and parlays go hand in hand. As a matter of fact I have recently combined them both into one simple to use program. This brand new program combines the Multi-Bet Dutching window with my PARLAYMASTER Daily Tally program to create a simple and powerful way to play a parlay using Dutched bets. I call this my Multi-Master program and it is actually free if you buy both Multi-Bet and PARLAYMASTER. To learn more click here: MULTI-MASTER
To learn more about Multi-Bet and D.W.E.E.B.,
Choose from two great programs...
This is a easy to use and very veersatile Dutching program that allows you to Dutch up to 10 entries and use the Dutch Doctor feature to Hedge multiple entries to help insure more winning bets.
This is a simple to use but very powerful EXOTICS ONLY Dutching program that allows you to Dutch up to 24 exotic combinations with precision and great flexibility. For serious Exotics players.