Dutching favorites for target profit (with recovery)

Written by Bf Bot Manager, 21st December 2011

For any questions regarding this article/strategy please use article forum thread and ask Bf Bot Managerdirectly!

Settings in this article will help you configure Dutching bot (version available with Bf Bot Manager V2) to bet on X selections per market for target profit. If one of your selections wins then you will win target profit (less commission), but if one of them loses then you will lose your money which you can recover by using built in loss recovery system (optional). Those settings are not best or profitable. Settings displayed and explained here should help you learn how to use Dutching bot and to configure it to bet for target profit. Before starting to bet with real money you should test your strategy in simulation mode and make sure that bot is working like you want it to.

Bot settings

From manual we know that Dutching bot can work in two modes, those are "Target overround" and "Existing prices" modes. To bet for target profit we must select "Existing prices" mode and option "Place Back bets". You can set time of bet and target profit as you wish. For start it is advised to use simulation mode and smaller target profit. Staking plans are also available but they will not be discussed in this article. You can turn on/off staking plans by clicking on options button on left side of target profit.

Dutching Bot Settings

General settings

General settings for Dutching bot are almost same as for other bots. You can adjust your max profit/loss after which bot will stop betting, set overrounds and min/max prices. Only runners that are within your min/max prices can qualify for bet placement. Settings on image below are correct for example in this article and they should ensure that bot places bets on first four favorites when market is properly formed (overrounds ensure this). Bot will only place Back bets on runners that are within min/max price range of 1.5-20.0. If you want to recover losses then you can turn on loss pot recovery. Loss pot recovery within Dutching bot only recovers overall market loss and you can read more about this and view examples at our forum thread Recover only overall market loss

Dutching Bot - General settings

Selecting runners to bet on

To bet on first four favorites by position you will need to set settings like on image below. Those settings tell the bot to bet on first four favorites by position if they are within our min/max price range when all conditions are satisfied. Alternatively you can change settings at this form to bet on any runner in min/max price range or to bet on different number of favorites by position depending on number of runners on market.

Dutching Bot - Runner selection rules

Manually picking runners to bet on

If you do not want bot to automatically select runners to bet on then you can pick your own runners by using "Fav." column at selections form. Selections form is opened by clicking on button in column "Sl." at main markets data grid view. At selections form you only need to use "Fav." checkbox to select your own runners, you should not use any other control from selections form! At image below is displayed example on how to select your own runners on which bot will place dutch bets if they are within min/max price range. At image below we can see that for race "Kemp 17:00" we selected "Young Prince, Crowning Start and Le King Beau" as our own favorites and because of that they are displayed in red color at main markets data grid view. For race "Kemp 17:00" bot will only bet on those 3 runners if they are within price range. For other races bot will automatically select four favorites by position by using setting displayed on previous image.

Dutching Bot

Skip race rules

There are several rules to skip betting on races and those are located at "Skip races rules" tab. For this example we will not use any of those rules. If you are using loss pot recovery then it is advised to use option "Do not allow more than 0 unsettled markets", so that bot waits for all bets to be settled before it places new bets. Rules are displayed on image below.

Dutching Bot - Skip race rules

Bet options

Options that can be set for bets are standard Betfair bets persistence that tells Betfair what to do with Unmatched bets and min/max number of qualified runners per market. Bets persistence is explained in manual and at Betfair web site so we will not discuss it here. Min/max number of qualified runners per market ensures that bot places bets only when number of qualified runners is within min and max value set here. For our example where we are betting on first four favorites we will set this to 3 and 25, so that bot does not place any bets if there are only 1 or 2 runners that satisfy all conditions. As we are betting on first four favorites this will ensure that bot only places bets when it has 3 or 4 runners that satisfy all conditions.

Dutching Bot - Bet options

Existing price mode options

To go for target profit per race you must tick checkbox "Use Target Profit instead of Exposure" because "Exposure" is default option as it is much safer. Other options at this form for our example should be deselected. Alternatively you can tick option to ask for lower/higher price and ensure that your bets get matched, but then your target profit might be lower by few percent if bets get matched at that lower price.

Dutching Bot - Existing prices mode settings

Market monitoring settings

For bot to place bets on any market it is required that that market is monitored at time of bet by main markets data grid view. In our example time of bet is set to 60 seconds before start time, so we will set bot to monitor markets 3 minutes before start time and to stop monitoring markets when they go in play or 60 seconds after start time. This will ensure that our markets get monitored properly. For more information on market monitoring settings please see "General Settings" manual. Settings that will work for this example are displayed on image below.

Dutching Bot - Markets data grid view settings

Written by Bf Bot Manager, 21st December 2011

For any questions regarding this article/strategy please use article forum thread and ask Bf Bot Managerdirectly!