I can't quite wrap my head around greening. I know it's spreading my profits/losses over the entire field, but why?
If I've already made a profit on back/lay-ing bets on a horse pre-race, why greening?
In case the horse doesn't run?
Greening
If you back £100 at 3.00 and then lay £100 at 2.00 you will net the difference in liability vs return. In this case 3.00-2.00=1.00 or £100.
But, this £100 is only on the one horse. I.e. you will only win £100 if that horse wins. When you green up you lay off part of that profit on that runner to spread it across the field. In this case you would lay (100/2.00=£50) at the current odds to achieve a green book of £50 what ever wins.
But, this £100 is only on the one horse. I.e. you will only win £100 if that horse wins. When you green up you lay off part of that profit on that runner to spread it across the field. In this case you would lay (100/2.00=£50) at the current odds to achieve a green book of £50 what ever wins.
