Dutch Betting Sites
Dutch League Relegation Betting The Dutch League is very much divided into two parts – the haves and the have nots. This means that there are certain teams almost guaranteed to be in the Eredivisie for the foreseeable future, while the other 10 or so teams face the threat of relegation every single year. Rather than pick one and kick yourself when the one you neglected obliges, it's sensible to 'Dutch' and back them all - and you can get surprisingly good returns as long as the prices are big enough.
- Dutch Betting Sites For Websites
- Dutch Betting Sites Free
- Dutch Betting Sites For Cash
- Dutch Betting Sites For Dummies
- Dutch Betting Progression
- The future for sports betting in Europe looks bright and will flourish in few years. UNITED KINGDOM United Kingdom has emerged as a king when it comes to sports betting sites in Europe. Sports betting are one of the most popular activities for thousands of Brits. Online sports’ betting.
- Betting sites Best Betting Sites in the Netherlands. From many perspectives, the Netherlands is one of the most well-known nations in the world. This 17.08 million-strong nation is renowned for the largest.
- Let’s take a look at the top 3 sports betting sites that are preferred by Dutch gamblers. #1 The Unibet website The Unibet website is one of the most popular betting platforms in Europe and sports gamblers prefer it because of the wide array of global sporting events that they have the opportunity to wager on.
In gambling, a Dutch book or lock is a set of odds and bets which guarantees a profit, regardless of the outcome of the gamble. It is associated with probabilities implied by the odds not being coherent, namely are being skewed.
In economics, the term usually refers to a sequence of trades that would leave one party strictly worse off and another strictly better off. Typical assumptions in consumer choice theory rule out the possibility that anyone can be Dutch-booked.
In philosophy it is used to explore degrees of certainty of beliefs.[1]
There is no agreement on the etymology of the term.[2]
Gambling[edit]
The main point of the Dutch Book Argument is to show that rational people must have subjective probabilities for random events, and that these probabilities must satisfy the standard axioms of probability. Objectivists believe in frequency theory definitions of probability, which refer to objective outcomes of events like coin flips. This creates a problem in defining probabilities for random events like horse races—we cannot repeat the event under identical circumstances to learn the probabilities, which would correspond to the proportion of wins in the long run.
Subjectivists argue that probabilities can be defined via beliefs. Objectivists say that beliefs are too vague and qualitative to use for probabilities. The Dutch Book argument (see also the related Money pump argument) shows that beliefs about probabilities must be quantitative and satisfy standard probability axioms. This is done by first assuming that people with subjective probabilities would be willing to take fair bets on the basis of these probabilities. Then it is shown that if these subjective probabilities do not satisfy probability axioms, we can create a 'Dutch Book'—a collection of bets which would ensure sure losses for the holder of these 'incoherent' beliefs, regardless of the outcome of the random events. The objection can be made that many people do not gamble. Subjectivists respond that the existence of bets which ensure loss is a sign of irrationality, regardless of whether people actually make the bets.
In one example, a bookmaker has offered the following odds and attracted one bet on each horse whose relative sizes make the result irrelevant. The implied probabilities, i.e. probability of each horse winning, add up to a number greater than 1.
| Horse number | Offered odds | Implied probability | Bet Price | Bookie Pays if Horse Wins |
|---|---|---|---|---|
| 1 | Even | $100 | $100 stake + $100 | |
| 2 | 3 to 1 against | $50 | $50 stake + $150 | |
| 3 | 4 to 1 against | $40 | $40 stake + $160 | |
| 4 | 9 to 1 against | $20 | $20 stake + $180 | |
| Total: 1.05 | Total: $210 | Always: $200 |
Whichever horse wins in this example, the bookmaker will pay out $200 (including returning the winning stake)—but the punter has bet $210, hence making a loss of $10 on the race.
However, if Horse 4 was withdrawn and the bookmaker does not adjust the other odds, the implied probabilities would add up to 0.95. In such a case, a gambler could always reap a profit of $10 by betting $100, $50 and $40 on the remaining three horses, respectively, and not having to stake $20 on the withdrawn horse, which now cannot win.
Another possibility is for a crooked gambler to fix a race by sabotaging the favourite. If the favourite horse starts the race at odds-on (less than 1-1 odds), then the remaining horses can be bet in proportion to their odds so as to guarantee a profit, no matter which horse wins.
Other forms of Dutch books can exist when incoherent odds are offered on exotic bets such as forecasting the order in which horses will finish. With competitive fixed-odds gambling being offered electronically, gamblers can sometimes create a Dutch book by selecting the best odds from different bookmakers, in effect undertaking an arbitrage operation. The bookmakers should react by adjusting the offered odds in the light of demand, so as to remove the potential profit.
In Bayesian probability, Frank P. Ramsey and Bruno de Finetti required personal degrees of belief to be coherent so that a Dutch book could not be made against them, whichever way bets were made. Necessary and sufficient conditions for this are that their degrees of belief satisfy the axioms of probability (with only finite additivity).
Economics[edit]
In economics, the classic example of a situation in which a consumer X can be Dutch-booked is if they have intransitive preferences. Suppose that for this consumer, A is preferred to B, B is preferred to C, and C is preferred to A. Then suppose that someone else in the population, Y, has one of these goods. Without loss of generality, suppose Y has good A. Then Y can first sell A to X for B+ε; then sell B to X for C+ε; then sell C to X for A+ε, where ε is some small amount of the numeraire. After this sequence of trades, X has given 3·ε to Y for nothing in return. This method is a money pump, where Y exploits X using an arbitrage-opportunity by taking advantage of X's intransitive preferences.
Economists usually argue that people with preferences like X's will have all their wealth taken from them in the market. If this is the case, we won't observe preferences with intransitivities or other features that allow people to be Dutch-booked. However, if people are somewhat sophisticated about their intransitivities and/or if competition by arbitrageurs drives epsilon to zero, non-'standard' preferences may still be observable.
See also[edit]
Footnotes[edit]
- ^Bovens, Luc; Rabinowicz, Wlodek (2012). 'Bets on Hats: On Dutch Books Against Groups, Degrees of Belief as Betting Rates, and Group-Reflection'. Episteme. 8 (3): 281–300. doi:10.3366/epi.2011.0022. ISSN1742-3600.
- ^Hajek, Alan Dutch Book Arguments, Chapter 7 in The Oxford Handbook of Rational and Social Choice, ed. Paul Anand, Prasanta Pattanaik, and Clemens Puppe, 173-195, Oxford University Press
References[edit]
- de Finetti B.; Machi A.; Smith A. (1993). Theory of Probability: A Critical Introductory Treatment. New York: Wiley. ISBN0-521-41850-X.
- Maher P. (1992). Betting on Theories. New York: Cambridge University Press. ISBN0-471-58882-2.
- de Finetti, B. (1931). 'Sul significato soggettivo della probabilità'. Fundamenta Mathematicae. 17: 298–329.
External links[edit]
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Dutch Betting Sites
The sports betting monopoly in the Netherlands is run by De Lotto. Bets can be placed on sporting events in the shops and through the Toto website.
Compared to most bookmakers, the number of markets is very limited, with betting only available on football, hockey, cycling, formula one, basketball, baseball and tennis.
This is likely indicative of the low levels of trade conducted through the Dutch-owned website.
Betting Sites – Netherlands Residents Go Abroad
Dutch Betting Sites For Websites
Despite the strict approach that has been employed by the Dutch authorities and lack of dutch betting sites, few foreign firms have followed the request to stop accepting Dutch custom. All our recommended bookmakers offer their services to citizens of the Netherlands.
Several bookmakers such as William Hill, Betsson, Unibet and Expekt all used to offer their websites in the Dutch language for online gambling. Netherlands gaming regulator Kansspelautoriteit has dished out several fines though and so these firms seem to have taken heed and have withdrawn this option to ensure they do not appear to be actively seeking custom.
This is not too much of a hindrance for attracting sign-ups from the Netherlands, as it is estimated that 86% of the population are able to converse in English.
However, Unibet and Betclic appear to have ignored the warnings and have continued with their operations to facilitate betting for Dutch citizens. Unibet offer customer support in Dutch for 16 hours a day and Betclic still have a Dutch translation option on their website.
In terms of online casinos, there are betting firms that still market their services directly to Dutch citizens, despite the threats of sanctioned by the government. Dutch betting sites Oranje Casino and Kroon Casino, both licenced out of Malta, present their website in Dutch, offer sign up bonuses to Dutch customers and accept i-DEAL as a method of payment.
In the light of pending changes to legislation, the companies have been purchased by Scandinavian giant Betsson, who aim to have a strong opening hand when the regulated market opens.
Betting Sites Netherlands – Banking Options
There are numerous different payment methods available for citizens of the Netherlands. As most of the major bookmakers offer their services to customers from the country, the regular options of bank wiring, debit and credit cards and a plethora of e-wallets are available.
Paypal, Moneybookers/Skrill, Neteller and the ever increasing in popularity Ukash option is also available. As mentioned above, some companies that specifically target Dutch customers (Oranje Casino & Kroon Casino etc.) also tailor their payment options, providing iDEAL, a popular payment intermediary used widely in the Netherlands.
The Most Popular Sports in the Netherlands
Undoubtedly the most popular sport in the Netherlands is football. The Dutch youth system is revered around the world and has produced household names such as Johan Cruyff, Dennis Bergkamp and Robin Van Persie.
However, despite the endless talent that has been produced at the footballing academies of Ajax, PSV and Feyenoord amongst others, the Dutch national side have never won the World Cup. Their best result was victory in the 1988 European Champions, but it would be fair to say that the Netherlands have not fulfilled their potential.
The Eredivisie is the top league in Dutch domestic football and whilst it is not as strong as it used to be, it still fosters the talents of many young starlets before they move on to the major European clubs. Betting on the domestic league, as well as the English Premier League and elsewhere in Europe remains popular. Dutch betting sites reflect this, and the range of odds and markets presented to Dutch residents is huge.
The second most popular sport in the Netherlands is field hockey. Whilst they are a country surrounded by neighbours who have a passion for Ice Hockey, the Dutch appear to prefer keeping the game on grass and with a ball, as opposed to on ice with a puck.
The men’s Dutch field hockey team has reached the final in four of the last six Olympic Games, winning gold twice. The women’s team is equally as dominant and retained their status as the best team in the world, winning Olympic gold at London 2012. Domestically there are two leagues; Men’s Hoofdklasse and Women’s Hoofdklasse that are covered by most of the larger bookmakers during the season.
Volleyball is also a popular sport at Dutch betting sites. Muay Thai and Kickboxing have high participation rates, both recreationally and on a professional level, with famous fighter Bas Rutten being born in the country.
Horse racing is popular in the Netherlands and there are racecourses at Groningen, Wasenaar, Wolvega and Alkmaar. Whilst there is not the equine talent on the level of Ireland, UK, France and Germany, there is a high level of interest in Trotting. As it stands, all betting on horse races and online pari-mutuel betting is run by Scientific Games Racing B.V.
Despite the confusion around gambling laws, sports betting in the Netherlands is a popular pass time. Many Dutch sports fans increase the excitement and get closer to the action by having a bet.
It’s not just traditional dutch sports though. As the world continues to spend more and more time online and on digital games rather than real ones, sport betting reflects that too and esports betting sites are growing quickly.
The History of Betting in the Netherlands
Gambling has been intertwined in Dutch culture for centuries. As far back as the 18th Century, there is evidence of organised betting. The Nederlandse Staatsloterij (national state lottery) was first established in 1726, making it the oldest running state lottery in the world.
By the early 1900s, there was a complete ban on sports betting and all other gaming activity, apart from the state lottery. This was in place until 1961 when sports betting in the Netherlands was legalised as a second state monopoly.
Gradually the government relaxed their stance on gambling and introduced new laws which allowed horse racing betting through a totalizer system. Furthermore, lottery and casino games were legalised, albeit through a monopoly and by the mid-1970’s, the citizens of the Netherlands were able to visit the first casino.
In order to regulate all of the gambling within the country, the Netherlands Gaming Control Board was formed in 1996. The purpose of this new entity was to control the six betting monopolies in the country (All of the different formats of gambling that were legal).
The Dutch government felt that by having a set company running each different facet of the betting market, they would be able to maintain a handle on the level of gambling, and the monitor practices of the firms selected.
Dutch Betting Sites Free
Is sports betting legal in Netherlands? Not exactly although millions of Dutch people still place bets every year. The growth of the internet and the subsequent rise to prominence of online betting sites presented a new conundrum for not only the Dutch government but those in power all around the world who wished to strictly regulate their citizen’s gambling activities.
In a similar move to the United States, the Netherlands attempted to pass laws to ensure that banks would have to reject transactions requested by online betting companies not located in the country. However, these blocks were ignored by the banks who suggested they were unlawful.
As it stands, there are no legal online casinos in Holland (those on land are run by a solitary company Holland Casino). The aggressive approach of the regulatory authorities to online operators targeting Dutch clients was witnessed last year.
Dutch gaming regulator Kansspelautoriteit (KSA) fined ONISAC Ltd and Mansion Online Casino Ltd a combined total of €150k because their websites offered Dutch language options and accepted payment through the Dutch e-commerce system iDeal. A similar fine was imposed on Caribbean based Global Stars, who were also considered to be actively courting Dutch custom.
There is however light at the end of the tunnel, and the Dutch authorities appeared to have succumbed to a combination of pressure from the EU and from the realisation that individuals will use foreign websites regardless, so they might as well benefit from the tax revenue that can be obtained from legalising online gambling activities.
Holland Casino has struggled and has been loss-making in the face of foreign competition, and this has initiated action from the government. Legislation to allow online betting in Holland was adopted by the Dutch parliament in 2016 but it hasn’t been approved by the Dutch Senate.
Progress to implement legal online betting in the Netherlands is expected to be slow with no clear changes expected soon.
The Future of Netherlands Betting
Changes are expected over the next few years in Dutch online betting. Netherlands bookmakers and foreign betting sites are rubbing their hands together at the prospect of gaining increased and legal exposure to a population who enjoy gambling.
Companies are already jostling for position, with the likes of Betsson already positioning themselves well by acquiring companies which are well known by Dutch citizens. Ultimately any new regulation will open up the market but will clamp down on individuals who use unlicensed websites, with taxes being imposed for those who ignore the guidelines and rules.
The Netherlands are historically a socialist country and there appears to be genuine concern from the government to ensure that gambling is undertaken in a controlled and non-detrimental manner.
Gambling Taxes
When playing at Dutch betting sites, there is a 29% tax that Netherlands residents are required to pay on their winnings. Although this doesn’t count for any amount under €454, it’s still another great reason to use overseas sites.
Under current legislation, Dutch authorities don’t tax winnings from foreign sites. That’s great news for punters as it’s legal and if you have a decent win, you’ll get to keep every penny.
Online Betting FAQs
Yes. Online gambling is legal in the Netherlands; however, the catch is that it has to be done on websites that are hosted in the country.
European or decimal odds are the most common in the Netherlands and across Europe. In the UK and Ireland, odds are usually fractional. Most betting sites offer you the choice of how you want to display odds.
Yes. Accumulators can be a very good way of boosting your betting odds, however, they are more difficult to execute than singles. If you do land one though, acca’s can give huge payouts.
Dutch Betting Sites For Cash
Dutch Betting Sites For Dummies
Most major bookmakers offer extensive markets and odds on Dutch football. Shop around to find the best odds and free bets.