Hi,
I'm new to sports trading and have a question. Why is greening up necessary? Surely backing and laying every horse in a race would be enough to cover every outcome?
E.g.
1. Shitstorm
2. Fly Like The Wind
3. The Shit Hits The Fan
4. Bookie Hater
So surely if I back and lay Shitstorm in the above race, then A) if Shitstorm wins I win the back bet, and B) if any other horse e.g. Bookie Hater wins then I win the lay bet?
How can it be that only one outcome is covered by backing any laying one horse? Is it because I'm backing AND laying with Betfair? Let's say I backed Fly Like The Wind with Paddy Power then layed it with Betfair, that would surely mean that I was covering all possible outcomes?
Appreciate your help guys!
Help understanding greening up please!?
Sounds like you confussing greening up with just closing a trade, these two threads should help explain
viewtopic.php?f=47&t=11408
viewtopic.php?f=47&t=11572
viewtopic.php?f=47&t=11408
viewtopic.php?f=47&t=11572
Thanks for your reply! I still don't get it though...
If Man Utd are playing Liverpool, there are three possible results; H, D, A.
If I back H at say William Hill then lay H at Betfair, I then have every outcome covered. If Man Utd win I win at the bookies. If it's a draw or Liverpool win then I win at Betfair.
So how is it that, on a horse race, simply backing and laying Horse A doesn't cover every outcome? Why do I need to green up?
If Man Utd are playing Liverpool, there are three possible results; H, D, A.
If I back H at say William Hill then lay H at Betfair, I then have every outcome covered. If Man Utd win I win at the bookies. If it's a draw or Liverpool win then I win at Betfair.
So how is it that, on a horse race, simply backing and laying Horse A doesn't cover every outcome? Why do I need to green up?
If you back and lay the same selection, then you're making bugger all if the price is the same. In fact, you will lose over time due to BF commission
The idea of sports trading is to back at a higher price than you lay. If you back Shitstorm at 4.2 for £10 and lay Shitstorm at 4.1 then you make £1 profit if Shitstorm wins, but £0 on everything else.
Your mindset is all wrong - it's like guessing how many sweets are in a jar. If I back between 50-60 sweets, and lay 50-60 sweets....I can't lose!
The idea of sports trading is to back at a higher price than you lay. If you back Shitstorm at 4.2 for £10 and lay Shitstorm at 4.1 then you make £1 profit if Shitstorm wins, but £0 on everything else.
Your mindset is all wrong - it's like guessing how many sweets are in a jar. If I back between 50-60 sweets, and lay 50-60 sweets....I can't lose!
If you back H at WH for £10 @ 5.0 = £40 profit or £10 loss
If you lay H at BF for for £10 @ 4.0 = £10 profit or £30 loss
If H win thats a £40 profit from back bet - £30 loss from lay bet = £10 profit over all
If D or L win it would be £10 loss from back bet and £10 profit form lay bet and = £0 over all
So your in a no lose situation once you have backed higher than you lay it does not matter if you back on Betfair, Will Hill or Coral etc and Lay on Betfiar or Betdaq
You would profit only if Home won but lose nothing if it was a Draw or Away win so greening up spreads that £10 Home profit across all three selections for a lesser but equal profit no matter what the end result
Its the same on horse racing or any sport - back higher than you lay for the same amount and you can't lose but will only profit if that selection wins.
So by greening up you have a equal profit across all selections
If you lay H at BF for for £10 @ 4.0 = £10 profit or £30 loss
If H win thats a £40 profit from back bet - £30 loss from lay bet = £10 profit over all
If D or L win it would be £10 loss from back bet and £10 profit form lay bet and = £0 over all
So your in a no lose situation once you have backed higher than you lay it does not matter if you back on Betfair, Will Hill or Coral etc and Lay on Betfiar or Betdaq
You would profit only if Home won but lose nothing if it was a Draw or Away win so greening up spreads that £10 Home profit across all three selections for a lesser but equal profit no matter what the end result
Its the same on horse racing or any sport - back higher than you lay for the same amount and you can't lose but will only profit if that selection wins.
So by greening up you have a equal profit across all selections
Thanks for this! Finally clickedDallas wrote:If you back H at WH for £10 @ 5.0 = £40 profit or £10 loss
If you lay H at BF for for £10 @ 4.0 = £10 profit or £30 loss
If H win thats a £40 profit from back bet - £30 loss from lay bet = £10 profit over all
If D or L win it would be £10 loss from back bet and £10 profit form lay bet and = £0 over all
So your in a no lose situation once you have backed higher than you lay it does not matter if you back on Betfair, Will Hill or Coral etc and Lay on Betfiar or Betdaq
You would profit only if Home won but lose nothing if it was a Draw or Away win so greening up spreads that £10 Home profit across all three selections for a lesser but equal profit no matter what the end result
Its the same on horse racing or any sport - back higher than you lay for the same amount and you can't lose but will only profit if that selection wins.
So by greening up you have a equal profit across all selections
