Book arbitrage using dutching is the process of backing the book at less than 100% on the back side. In theory this shouldn’t be possible but, because the market wobbles, sometimes the book will trade below 100% and it is possible to back the entire field and make money. These aberrations in the market only occur infrequently and therefore it is only possible to take advantage of this incorrect pricing using the automated dutching feature in Bet Angel.
First you need to set the target margin in Bet Angel. To do this you need to visit the automation tab of the settings editor and set the required margin. If you are performing book arbitrage you need to set this to 100% as the instruction in the settings editor is telling Bet Angel to fire orders to the market if the book% is less than or equal to 100%. In reality you may want to set this to a value lower than 100% as you would like to get something from this strategy and that is only possible at a value lower than 100%. However it is likely that when this bet fires it will do so below 100%. When you have set this margin trigger you need to visit the dutching area to set up your book. In this case we are looking for the back side to go under 100%.
Once this is set (and saved) go to the dutching area on Bet Angel and click on the back all tick box. When you are ready to set Bet Angel in motion click the auto bet tick box. If Bet Angel sees a book% of under 100% on the back side it will automatically fire a back all order into the market at the correct odds and stake needed at that split second in time. Unless you are fortunate you are likely to get unmatched bets using this strategy so make sure you think about what you will do with unmatched bets or which events are more suitable for situations where the entire book will get matched easily.
You can also use the auto bet function in your normal dutching activities as well. It always makes sense in busy markets to ask for a certain margin or better prices rather than try to enter the order manually.
