What Can A Cohort Of Al Capone Teach Us About Betting?

Have you ever heard of the Dutch betting system? If you are thinking this is something to do with the Netherlands, you are way off track. Actually the term “Dutch” betting is attributed to an associate of the notorious gangster Al Capone. Apparently, this gentleman was named Dutch Schultz and he developed an innovative horse betting strategy at his time at the tracks in the early 1900s.

What he came up with can be called a multi-layer type of gambling. Here’s how it worked. Realizing that he could get the odds of the horses he was choosing to place a bet on beforehand, Dutch would decide on the amount of money he was willing to lay down on a bet. Then, he would split the stake so that the whichever of two horses would win, the same net winnings would result.

Does that sound confusing? Take a look at this example. Suppose you are looking two possible winners and you have the odds on both of them. Let’s say the bookmakers tell you the odds on your two horses are 3.0 and 5.0. Then suppose you take out a hundred dollar bill from your pocket. You bet $62.50 on horse A and the remainder of $37.50 on horse B. If horse A wins, your prize is $187.50. Subtracting the amount you placed on the two bets, leaves you with a net of $87.50. You see how this works now?

“Dutch” went on to expand this system and applied it to even more horses at a time, spreading the total amount bet over more and more horses. Can you see the obvious drawback to this system? Yes, if you said the net winnings will always be small, go straight to the head of the class, you are exactly right. You see, because you also paying for the losers, you are limiting your maximum winnings. Also, you could very well have a bad day at the track and pick all losers, no matter what the odds say. Ouch! That can hurt. But, understand this, a strategy like this is not designed for a single bet. No, this sort of strategy is designed for the long term player, a player who knows that there are ups and downs in any wager and is determined to keep up with his strategy.

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