Dutching can be a very smart form of betting. If you fancy more than 1 horse in a race then Dutching allows you to bet on both and if either wins you will win the same amount irrespective of which horse wins. Normally odds have to be fairly high for this technique to be useful.

When dutching your total stake will be split into 2 and place on each horse depening on there individual odds.

Horse 1 odds of 3/1
Horse 2 odds of 6/1

If we want to bet a maximun of £100 the bets would be split as follows.

Decimal Price of Horse 1/(Decimal Price of Horse 1 + Decimal Price of Horse 2) = Proportion of stake to bet on Horse 2
Decimal Price of Horse 2/(Decimal Price of Horse 1 + Decimal Price of Horse 2) = Proportion of stake to bet on Horse 1

Decimal price of Horse 1 is 4
Decimal price of Horse 2 is 7

Proportion of Stake to bet on Horse 1 = 7 / 4+7 = 0.6364
Proportion of Stake to bet on Horse 2 = 4 / 4+7 = 0.3636

So from the £100 Maximum stake you should bet £63.64 on Horse 1 @ 3/1

£63.64 on Horse 1 @ 3/1 If Horse 1 wins £63.64 @ 3/1 £254.56 - £100 Stake = £154.56 Profit
If Horse 2 wins £36.36@6/1 254.56 - £100 Stake = £154.56 Profit

So we can see from the above example if either of our horses win then we will win the same amount regardless of which horse does cross the line first. The dutching technique can be used for as many selections as you wish.