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jimDiGriz
8th December 2002, 10:38 AM
Does anyone know the formula for Dutch Betting?

Many thanks!

TheDuck
15th January 2003, 01:04 PM
Yes,

Consider Horses A, B, C and D in the race.

The odds are 5/2, 4/1, 7/1 and 8/1 respectively.

First determine their decimal probability with 1/(1+odds). So, again respectively,

1/(1+(5/2)) = 1/3.5 ~= .286
1/(1+4) = .2
1/(1+7) = .125
1/(1+8) = .111

And total that for 0.722. If this number is greater than or equal to 1 these horses cannot be dutched (which you will find is always the case with totes, bookies, etc. -- in fact, the closer to 1 the better deal you're getting).

Now take 1 - 0.722 = 0.278.

Imagine the amount you would like to win is $50. So you would take your bet divided by the total times the probability. So, rounded to the nearest dollar, this would result in:

50 / 0.278 * .286 = 51
50 / 0.278 * .200 = 36
50 / 0.278 * .125 = 23
50 / 0.278 * .111 = 20

No matter who comes in, your profit will be (around) $50 (net profit on one horse less the wagers on the others).

I hope that all made sense!

-Duck

jimDiGriz
16th January 2003, 10:19 AM
Thnx, Duck! When you say closer to 1, the better the deal, what do you mean? More selections, less outlay??

TheDuck
18th January 2003, 03:28 AM
If you run this formula against the odds offered by any bookie you will find that it is just over 1.

If it is 1.1 then that bookie is running a tight ship. If it is around 1.3 then that's typical. 1.5 is getting a bit greedy and 1.7 is downright highway robbery.

So if you're going to do dutch bets then choose a bookie who tends to be closer to 1. Otherwise, you'll have to miss out on more selections introducing more risk.

Bhagwan
18th June 2003, 12:10 AM
I can send you a dutch bet program which has all 3 types of Dutching to choose from.

It will save you a lot of time & possable error. .

bhk@bigpond.net.au