Advanced Dutching - Getting Started
Your first task when using advanced dutching is to select the staking method you require. Below is a brief outline of the three staking methods available. Each method is covered in more detail over the following few pages of this user guide.
If you “back with a stake of” your liability (potential loss) is fixed at this amount but your profit varies according to the margin in your book.
If you ‘back for a target profit of’ your profit is fixed by the dutch bet you create but your stake varies
If you 'Back for a Minimum Stake of' the minimum stake will be used on the selection you choose with the highest odds, the stake amounts for any subsequent selections will then be calculated by the software to ensure the same profit amount is achieved.
After choosing your 'Staking Method' before making any selections another setting you should pay attention to is the ‘winners’ box. If you are a making a book or performing book arbitrage on an outright win market your target book % is under 100%. If you are in market with two possible winners your target book is actually any value under 200%. Therefore if you set the winners to two, Bet Angel will adjust the book % figures to go green if the book dips under 200%.
You need to be aware that the winners box does not influence predicted profit calculation at this moment in time.
Creating your Dutching position
Once you have decided your staking method and value you need to decide which selections you want to dutch and at what price.
Rather than pricing each selection manually we have included a series of tick boxes which allow you to create your position quickly and easily.
You can see in the image below the columns are headed ‘back’, ‘lay’, ‘manual’ and ‘margin maker’..
For the time being we will ignore the 'Margin Maker' column, this is covered in more detail on this page
If you tick a box in the ‘Back’ column you will creating your position on this selection by taking the current back price. If you tick a box in the ‘lay’ column you will create your position by offering your back bet to the market at the current lay price.
If you don't want to use either the current back or lay price for a selection then you can tick the box in the 'Manual' column then you will be able to manually enter the price you want to place your bet using the 'Odds' Column
In the image above I have opted to take the current back price for the first two selections so these bets will be matched as soon as I hit the 'Place bets' button, for the 4th selection I will be offering my back bet at the current lay price of 18.5 so will need to wait for it to be taken once its been placed.
For the 3rd selection I want to back it at much higher odds than its currently trading at so have ticked the manual column and specified that I want to place this bet at 10.0 in the odds column
Placing your bets
Your bets will still not be placed into the market until such time as you have pressed the 'Place bets' button, this is located just above the stake column. You can change and play about with the tick boxes, odds column etc as much as you like without fear of accidentally placing a bet. This allows you to fully experiment with selections and stakes etc until you are totally happy.
