In gambling, Dutching is sharing the risk of losing across a number or runners by backing more than one selection in a race or event. The process calculates the correct stake to place on each selection so that the return is the same if any of them wins. This is not to be confused with what constitutes a Dutch book which is when a bookmaker goes overbroke (the opposite to overround). It is thought the strategy behind Dutching was originally conceived and employed by Arthur Flegenheimer (aka Dutch Schultz) alongside various rackets he had running at the racetrack. The system has since taken his name. The strategy can pay dividends when gamblers successfully reduce the potential winners of an event to a select few from the field or when information about runners not expected to perform well does not reach the market (so as to affect the odds) making backing the rest of the field profitable. Dutching calculators that perform the mathematics behind the system are freely available on the internet.
