There are several ways in TBM that multiple bets can be placed. When there are 2 selections that match your criteria TBM can be told to place a Dutch Bet.
This setting is found in the Market Placement Screen --> Multiple Bets Tab.
View the Market Placement Screen Topic if you need to refresh your memory.
Dutch Betting is where the risk of losing is reduced by backing more than one selection in a race or event.
In TBM we have true Dutch Betting where you place the bets to equal profit. This means that which ever selection wins, the profit will always be the same.
There is also another type of Dutch Betting which is simply splitting the stake between the selections. The profit will be dependent on which selection wins and their respective odds.
All Dutch Bets are placed immediately. If BSP is ticked in Bet Placement this will be ignored. This is because when calculating the stakes we need to know the odds. If you were to place the bets at BSP the odds may have moved since the stakes were calculated and therefore the dutch bet would no longer be to equal profit.
First, lets look at Dutching to Equal Profit. On the Market Placement Screen for system 1 I have set it up to place Dutch Bets to Equal Profit BUT only if the combined odds is equal or greater to 1.1. Otherwise no bet will be placed at all. For this example under Advanced Dutch Bet Placement Settings ALL selections are set for WIN Markets.
And to keep things simple I will simply select the top 2 favourites in the next Greyhound Race available. I will use £1 Level stakes.
2 Bets have been placed. If either wins we will roughly profit £0.83
Bet 1 Profit if Win = £0.72 * (2.54-1) - £0.28 = £0.83
Bet 2 Profit if Win = £0.28 * (6.6-1) - £0.72 = £0.83
Lets see how this is handled in the Series and Settings Screen. As the bet is waiting the result it is shown as a Loss. The combined odds are 1.83.
In the Selection Column you can the selection text is prefixed with #DP. This stands for Dutch to Equal Profit. If we had used the Dutch to Equal Stakes then the prefix #DS would be used.
In reality both bets lost but I'm going to make the favourite win. In the screenshot below we can that is now reflected in the Series and Settings Screen. Commission is turned off.
Dutch Bets to Equal Stakes are tricky to handle in TBM as our potential winnings are not known until we have a result in. If the 2nd favourite won our winning and therefore combined odds would be greater than if the 1st favourite won.
Because we are unable to ascertain the combined odds until the result is in, Dutch Bets to Equal Stakes are not suitable for staking plans where the Stake is calculated on the odds of the bet. Staking Plans that are affected by this are -
Secure, Fixed, Kelly, Bookies Bank V2, Recovery Type 3, SAW, Lay Liability, Lay Mixed, Lay Maria and Lay Kelly.
If any of these staking plans are selected and you have instructed TBM to place a Split Bet then NO bets will be placed at all for that system.
Lets have a quick run through of an example using Dutch to Equal Stakes. I have setup the Market Placement Screen for System 1 as below. I want to Dutch to Equal Stakes but only if both selections are over 2.1. This ensures a profit providing one of the selections wins. If either of the selections are less than 2.1 then NO bet is placed.
Let us look at the next Greyhound Race and find 2 suitable dogs.
I have selected trap 1 and trap 2. The screenshot above shows the screen just after the bets have been placed. You can see 2 bets have been placed. Both at £0.5.
This is shown in the Series and Settings Screen as below. Note we use the Combined Odds as if we were Dutching to Equal Profit. If either of the selections win, the true odds will be updated. Odds of 1.92 will only be used if both dogs lose.
Also note how the selection text has been prefixed with #DS so that we know this was a Dutch to Equal Stakes Bet.
And the results are in. And would you believe it, both lost. So we are going to cheat and make Trap 1 the winner.
We can see the overall profit from Trap 1 winning and Trap 2 losing was £0.82. This means the combined odds are 1.82.
Dutch Betting can also be used in Lay Staking Plans. This is handled in much the same way as Split Bets and Lay Staking Plans where we calculate the odds from the profit. This means we can have negative odds.
Negative Odds can only be applied to Lay Split Bets and Lay Dutch Bets. Lay Single Bets are not effected by this and will always display their actual odds matched.