Dutch Betting Sites
2021年7月16日Register here: http://gg.gg/vfd5c
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]
The Dutch government takes a pretty typical approach to online betting: it considers foreign gambling sites to be in violation of Dutch law but does not bother with prosecuting players. In fact, there are no. Online sports betting is legal in the Netherlands as long as the betting site has the appropriate licence from the Dutch Gaming Authority, Kansspelautoriteit. Although no gambling licenses have been granted to foreign operators. However, online betting sites that are based outside of the Netherlands are still accepting Dutch players.
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 numberOffered oddsImplied
probabilityBet PriceBookie Pays
if Horse Wins1Even11+1=0.5{displaystyle {frac {1}{1+1}}=0.5}$100$100 stake + $10023 to 1 against13+1=0.25{displaystyle {frac {1}{3+1}}=0.25}$50$50 stake + $15034 to 1 against14+1=0.2{displaystyle {frac {1}{4+1}}=0.2}$40$40 stake + $16049 to 1 against19+1=0.1{displaystyle {frac {1}{9+1}}=0.1}$20$20 stake + $180Total: 1.05Total: $210Always: $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 PressReferences[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.Dutch Betting Sites For Real MoneyExternal links[edit]Retrieved from ’https://en.wikipedia.org/w/index.php?title=Dutch_book&oldid=996611101’
Page Summary: Find only the best Dutch betting sites listed on this page. Online betting within the Netherlands is not as popular as most other European countries. However, that probably has a lot to do with the country’s government having for so long been opposed to foreign sites operating within its borders.
This meant the Dutch could only bet at the government-run De Lotto.
Of course, that did not stop punters from making use of non-Dutch websites. But in March 2011 the government agreed to lift this ban, finally ending the illegal betting of thousands of Dutch. Now licenses will be granted to foreign and domestic providers. Even with the previous ban, countless million of euros were still spent every year. But where do Dutch punters place their bets? And what currency choices are available in the Netherlands? Check below.Which Dutch Betting Sites to Bet With
Dutch betting websites were, of course, limited to just the one, De Lotto, but punters still signed up for foreign sites. So, with that in mind, we checked out the most popular Dutch betting sites, and listed them below:Rating:
BetVictor come in top on the list of best Dutch betting sites. With one of largest sections devoted to soccer’s Eredivisie, BetVictor allows punters to place bets on the outright league winners, as well as every match. Of course a wide range of other sports are covered as well.
You;ll get great odds on football at Betvictor and some of the most generous on going customers promotions around, they are well worth having an account with:Rating:
If you’re looking for Dutch betting sites, then you really should pay a visit to 888Sport. The Dutch love to play, watch and bet on sports, so 888sport covers the country’s national soccer league, Eredivisie, while also providing extensive odds on smaller sports, yet still popular among punters, such as handball, volleyball, darts and cricket.Dutch Betting Formula
The Netherlands is a key market for 888Sport and they are fully licensed and legal to serve Dutch players.Which Sports Are Most Popular At Dutch Betting Sites?
Football, like the majority of European countries, attracts the greatest number of bets in the Netherlands. The Eredivisie possesses some massive clubs in Ajax, PSV Eindhoven and Feyenoord, and this trio receives the majority of punts, too.Dutch Betting Sites 2020
Harrington on hold’em pdf. However, the Dutch enjoy a wide range of sports and choose to bet on a large number of these, including some that other European countries would not even consider – such as korfball, which is a mixed gender sport that is similar to basketball and netball.
Other popular team sports for betting are handball, hockey, volleyball, baseball and cricket, while individual sports, such as speed skating, tennis, golf, cycling, equestrianism and sailing, enjoy a healthy level of interest at various Dutch betting sites or betting sites that accept Dutch people if you prefer.Which Odds Format Is Used At Dutch Betting Sites?
Decimal odds, as with the great majority of continental European countries, are most popular used at Dutch betting sites online. It’s a very straightforward system and certainly the easiest for punters to understand.
Decimal odds provide information on how much money will be won from a base bet of one unit, with bookmakers giving a figure that is the winning amount paid to bettors. For example, odds of 2.75 indicate the pay-out will be two-and-a-three-quarters times the stake, resulting in a €1 bet paying back €2.75 for a win.
However, punters should be aware that a single unit can signify 1, 10 or even 100, so it is wise to know a bookmakers’ choice. Most bookies will give odds to two decimal places, so providing greater precision for bettors.Currency Options For Dutch BettorsDutch Betting Sites For Websites
Free euchre games. The majority of betting sites encourage punters to work in the currency of their country, so Dutch bettors will make bets in euros. But it is still possible to wager in many of the world’s other currencies.
Register here: http://gg.gg/vfd5c
https://diarynote.indered.space
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]
The Dutch government takes a pretty typical approach to online betting: it considers foreign gambling sites to be in violation of Dutch law but does not bother with prosecuting players. In fact, there are no. Online sports betting is legal in the Netherlands as long as the betting site has the appropriate licence from the Dutch Gaming Authority, Kansspelautoriteit. Although no gambling licenses have been granted to foreign operators. However, online betting sites that are based outside of the Netherlands are still accepting Dutch players.
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 numberOffered oddsImplied
probabilityBet PriceBookie Pays
if Horse Wins1Even11+1=0.5{displaystyle {frac {1}{1+1}}=0.5}$100$100 stake + $10023 to 1 against13+1=0.25{displaystyle {frac {1}{3+1}}=0.25}$50$50 stake + $15034 to 1 against14+1=0.2{displaystyle {frac {1}{4+1}}=0.2}$40$40 stake + $16049 to 1 against19+1=0.1{displaystyle {frac {1}{9+1}}=0.1}$20$20 stake + $180Total: 1.05Total: $210Always: $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 PressReferences[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.Dutch Betting Sites For Real MoneyExternal links[edit]Retrieved from ’https://en.wikipedia.org/w/index.php?title=Dutch_book&oldid=996611101’
Page Summary: Find only the best Dutch betting sites listed on this page. Online betting within the Netherlands is not as popular as most other European countries. However, that probably has a lot to do with the country’s government having for so long been opposed to foreign sites operating within its borders.
This meant the Dutch could only bet at the government-run De Lotto.
Of course, that did not stop punters from making use of non-Dutch websites. But in March 2011 the government agreed to lift this ban, finally ending the illegal betting of thousands of Dutch. Now licenses will be granted to foreign and domestic providers. Even with the previous ban, countless million of euros were still spent every year. But where do Dutch punters place their bets? And what currency choices are available in the Netherlands? Check below.Which Dutch Betting Sites to Bet With
Dutch betting websites were, of course, limited to just the one, De Lotto, but punters still signed up for foreign sites. So, with that in mind, we checked out the most popular Dutch betting sites, and listed them below:Rating:
BetVictor come in top on the list of best Dutch betting sites. With one of largest sections devoted to soccer’s Eredivisie, BetVictor allows punters to place bets on the outright league winners, as well as every match. Of course a wide range of other sports are covered as well.
You;ll get great odds on football at Betvictor and some of the most generous on going customers promotions around, they are well worth having an account with:Rating:
If you’re looking for Dutch betting sites, then you really should pay a visit to 888Sport. The Dutch love to play, watch and bet on sports, so 888sport covers the country’s national soccer league, Eredivisie, while also providing extensive odds on smaller sports, yet still popular among punters, such as handball, volleyball, darts and cricket.Dutch Betting Formula
The Netherlands is a key market for 888Sport and they are fully licensed and legal to serve Dutch players.Which Sports Are Most Popular At Dutch Betting Sites?
Football, like the majority of European countries, attracts the greatest number of bets in the Netherlands. The Eredivisie possesses some massive clubs in Ajax, PSV Eindhoven and Feyenoord, and this trio receives the majority of punts, too.Dutch Betting Sites 2020
Harrington on hold’em pdf. However, the Dutch enjoy a wide range of sports and choose to bet on a large number of these, including some that other European countries would not even consider – such as korfball, which is a mixed gender sport that is similar to basketball and netball.
Other popular team sports for betting are handball, hockey, volleyball, baseball and cricket, while individual sports, such as speed skating, tennis, golf, cycling, equestrianism and sailing, enjoy a healthy level of interest at various Dutch betting sites or betting sites that accept Dutch people if you prefer.Which Odds Format Is Used At Dutch Betting Sites?
Decimal odds, as with the great majority of continental European countries, are most popular used at Dutch betting sites online. It’s a very straightforward system and certainly the easiest for punters to understand.
Decimal odds provide information on how much money will be won from a base bet of one unit, with bookmakers giving a figure that is the winning amount paid to bettors. For example, odds of 2.75 indicate the pay-out will be two-and-a-three-quarters times the stake, resulting in a €1 bet paying back €2.75 for a win.
However, punters should be aware that a single unit can signify 1, 10 or even 100, so it is wise to know a bookmakers’ choice. Most bookies will give odds to two decimal places, so providing greater precision for bettors.Currency Options For Dutch BettorsDutch Betting Sites For Websites
Free euchre games. The majority of betting sites encourage punters to work in the currency of their country, so Dutch bettors will make bets in euros. But it is still possible to wager in many of the world’s other currencies.
Register here: http://gg.gg/vfd5c
https://diarynote.indered.space
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