We've just learnt how you can back an outcome at a bookmaker and then lay the same outcome on Betfair locking in a guaranteed return, no matter the result.
You may already be thinking - why can't I just bet on the other outcome(s) at different bookmakers? You can, and this approach is called dutching.
Dutching instead of backing and laying has several advantages
You can bet on markets even if they're not on Betfair, or if Betfair doesn't have adequate liquidity.
You can bet on dutch sports promos against bookmakers without locking up your funds in Betfair.
Pricing differences between bookmakers present the opportunity for arbitrage.
As a dutch involves at least 2 bookmakers, you can turn funds over more quickly as you're doing two bookmakers at once.
When mug betting, you mug two bookmakers at once.
Using Radar to find dutches
Using Radar to find dutching opportunities is super simple.
Under Filters -> Strategy, change the Mode to "Dutching".
As we're looking to convert our TAB bonus bet into cash, click on the "Key Bookmakers" filter, and select TAB. The key bookmakers field reduces the results returned from the server to only those that include at least one of the selected bookmakers.
After selecting TAB, you'll be able to sort by SNR. The SNR value always assumes the bonus bet is being placed at one of the key bookmakers, in this case TAB.
Click on the bet stats button for the first row. Head over to the calculators section, and choose "Dutching". You'll see that the selections are prepopulated.
Dutching calculator
The dutching calculator makes it easy to determine the stakes required to efficiently dutch outcomes between bookmakers. You can even bet on the same outcome at multiple bookmakers if you wish.
Enter the amount of your bonus bet in the "Stake" field for TAB. Make sure you've checked "SNR", as our TAB bonus bet is a SNR bet.
The calculator will then recommend the stake(s) you should place at the other bookmaker(s) to guarantee a profit, no matter the result.
A quick note on choosing dutching stakes
We cover sustainability in a later course, but it's worth touching on briefly here. When matched betting, our goal is to blend in with the general betting public as much as possible. This means avoiding the placement of bets at unusual stakes, such as $13.27.
When betting at a bookmaker, it's best to round your stakes to at least the nearest dollar, with $5 increments being even better. This helps to avoid suspicion from bookmakers, which could lead to account restrictions or closures.
Placing our dutch bets
Now that we know the stakes we need to place at each bookmaker, it's time to go and place the bets. We recommend always placing the bonus bet first, followed by the dutch bet(s) at the other bookmaker(s). This is because if the bonus bet doesn't go through for any reason, you won't be left with an unwanted liability at the other bookmaker(s).
Recording your bet
Once the bets have been placed, you can save them as a Play before adding them to the Tracker.
In the Radar row corresponding to the bet you just placed, click the save to scratchpad button .
For "Stakes", enter the size of each bet you just placed. Make sure to select which bet was SNR (the TAB bet).
Click Save. Click the Scratchpad button in the top right corner of the navigation bar.
You'll see the play you just created, but it hasn't yet been saved to the Tracker. Instead, it's been saved to your Scratchpad. Click Quick Add .
We have now converted our bonus bet into real money. But how do we go about withdrawing these funds?