This is not a full explanation of transfers in competition - that would take me too much time to write. However, I want to quickly mention three advantages of transfer responses in competetion, as well as three disadvantages - though obviously these lists are not exhaustive.
Advantages:
- Traditionally, responder's bids in competition (such as 1♣-(1♥)-2♦) need to be either not forcing and limited (usually approximately (7)8-11 hcp) or forcing and show decent strength (usually approximately 10+ with no upper limit). Transfers let you mix the two, showing shape on the more frequent weaker range while guaranteeing another bid with the stronger hands. It allows for more shape-oriented bidding in competition.
- After partner opens and RHO has doubled or overcalled, we almost always want partner to declare. This is because it puts the known and strong hand on lead, forced to lead away from strength with less information. Even if we hold stoppers in an overcalled suit and we play NT, putting the strong hand on lead is a good idea.
- By using transfers we get a cheaper raise, allowing for more ways to show degree of fit at a low level.
Disadvantages:
- The structures easily get very complicated, especially once you consider opener's rebids and the continuations.
- Transfers always give up one cheap natural call to initiate the transfers to the higher denominations, and if you hold that strain you are behind.
- The forcing artificial nature of a transfer gives LHO two bites at the apple plus an extra bid (completing the transfer), and skilled opponents will use this space to better clarify their competitive intentions.
The rules we played were:
- Over 1suit-(X)-?, 1suit-(1Y) with Y not being spades, and 1♥-(1♠)-?, transfers starting with (re)double. We require a five card major to transfer into the suit after the opponents have made a takeout double.
- Over 1m-(1♠)-?, negative double and transfers starting with 2♣.
- On the above auctions, 2♠ and up show specific 2-suiters.
- Over 1M-(2m) and 1♠-(2♥)-?, Switch.
- Over 1X-(2M) where M is a higher ranking major suit, Rubensohl.
- Over 1♣-(2♦ natural)-? , Switch in the majors and Rubensohl.
- Transfers to strains at the 1-level show 6+ hcp, at the 2-level show 8+ hcp and at the 3-level show 10+ hcp.
Below I have some examples written out, but they contain aspects that I do not like. My partner and I were experimenting at the time, and I was happy to go along with agreements for the sake of experimentation that in hindsight I think were suboptimal. I've kept the examples, but before playing these again I'd change some bids (in particular, the minor suit raise structure) around.
Spoiler
Two brief closing remarks:
1) On specifically 1♥-(X)-?, I believe it is better to invert XX and 1♠ compared to my proposed transfer scheme. In my default agreement XX would show spades and 1♠ would be a transfer to 1NT (which, in practice also implies some spade support). Playing XX as the hand that is comfortable defending, and 1♠ as spades, is likely better - note that this is just standard, no transfers at all!
2) Many partnerships prefer to begin their transfers with 2♣ only, citing the value of a natural 1NT (and it is easier to memorise). Personally I think the transfer to 1NT is a big winner - the siding helps, especially single dummy where the opponents don't know when to lead away from their strength. And when responder has extra values and a defensive hand, often fourth seat is unable to enter the auction and we can take it slow. Of all the transfers in this scheme I think I like this one perhaps most.

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