Greening systems on Betfair -- seems to work

[jimbo45]

Hi all Excuse me if I've covered what might have been covered many times on this Forum before but I haven''t seen any EASY explaination of how to "Green" a bet. So I'll attempt to explain it simply -- it won't make a HUGE amount of money but it certainly gurantees that you will always win something. So what you do is place a BACK bet at a horse at reasonably good price perhaps an hour or so before the race starts. You can get some idea of the probable SP from various papers so the odds offered on Betfair will probably move eventually - i.e shorten if you've picked the correct horse. The main problem of course is finding horses where the market moves sufficiently enough to green you a bet. You then when the odds shorten LAY an amount equal to your potential profit when you backed the horse divided by the current LAY odds. For example if you backed horse X with 5 GBP at 16 then if the LAY odds drop down to say 10 then you LAY 80 / 10 = 8 GBP at 8. So if Horse A WINS you get 80 - 64 = 16 GBP and if Horse A LOSES you still get 8 - 5 = 3 GBP. So WHATEVER happens you get 3 GBP profit -- even on a miserable horse. OK not huge but you've made a minimum of 3 GBP on a 5 GBP bet -- not a bad profit. OK you need to find a horse with a decent price range but using the graphs provided on betfait relating to price and money movements you can get very good indications from the trend lines. I've only been using Betfair for a week and only bet on UK and Irish horse races - excluding MAIDENS -- these horses are just TOO UNPREDICTABLE to even consider entering a bet -- I want to TRADE not GAMBLE-- and I've increased my bank from 100 GBP to 150 GBP. -- OK small beer for some people I know but I'm still totally new to this game and want to do it slowly before I start incresaing my stakes. I see very little mention of "GREENING" on these forums -- IMO this works BETTER than DUTCHING -- although your potential winnings are less you are guaranteed a profit. You can always EXIT the trade with a ZERO profit and Loss if you LAY the same amount as you Backed the horse for provided the LAY odds get less than the Back odds - so if the trade looks like a no hoper you can zeroize or at least minimize any losses. The Graphs on Betfair are an incredibly valuable (and much neglected) tool. I also like some software such as Betangel which also has good built in tools for helping you spot horses with decent trends. You don't need to worry too much about favourites or anything about horses at all - TRADING is about TREND spotting -- BACK HIGH and LAY LOW like any other trading system on the planet. Cheers jimbo

[KThom]

Re: Greening systems on Betfair -- seems to work I think Your maths are slightly wrong. Using your example I make that a £3 profit for each eventuality, minus the comission would mean a return of £2.85. It's still a good principle but how often will you reliably find a selection that drops from 16 to 10 (or equivilant)

[Box3r]

Re: Greening systems on Betfair -- seems to work he means he would back at 16 and lay it in-play. that can be done if you know what horse has very good start.

[jimbo45]

Re: Greening systems on Betfair -- seems to work Hi all You need to use IN PLAY and have decent one-click API software --the main problem with the standard Betfair interface is that by the time you get your bet placed the odds have changed --even if you CAN get the odds you want. That's why I use Betangel -- not so much for all the "Bells and Whistles" but the fact that IN PLAY you can keep clicking ONCE per bet and get bets matched. DON'T USE TOO HIGH STAKES -- GO SLOW and you will get the bets matched -- I know it looks nice putting 400 GBP on an absolute 1.92 Cert but you won't get it matched -- putting say 4 GBP on and clicking the mouse say 20 times will leave you much more likely in profit. Remember we are TRADING and NOT GAMBLING. Note also that the RADIO (Betfair radio) is ALWAYS a little behind the actual IN PLAY race. -- It's worth paying 20 GBP for the live UK RACING feed or the FREE (if you have Sky TV) ATR feed. Another tip -- unless it's a favourite laying the Horse that is first away on a 2 or 3 mile event will usually (over 95% of the time) fail so always a good LAY. Also AVOID MAIDENS like the plague -- the only disasters I've had on Betfair have been in betting on MAIDENS -- these horses are just too unpredictable --even in REAL time. Also DON'T be too greedy -- 20 Mouse clicks on a 4 GBP BACK at 1.62 is STILL a profit -- remember always we are TRADING not GAMBLING. Cheers jimbo

[Lydo33]

Re: Greening systems on Betfair -- seems to work

Hi all Excuse me if I've covered what might have been covered many times on this Forum before but I haven''t seen any EASY explaination of how to "Green" a bet. So I'll attempt to explain it simply -- it won't make a HUGE amount of money but it certainly gurantees that you will always win something. So what you do is place a BACK bet at a horse at reasonably good price perhaps an hour or so before the race starts. You can get some idea of the probable SP from various papers so the odds offered on Betfair will probably move eventually - i.e shorten if you've picked the correct horse. The main problem of course is finding horses where the market moves sufficiently enough to green you a bet. You then when the odds shorten LAY an amount equal to your potential profit when you backed the horse divided by the current LAY odds. For example if you backed horse X with 5 GBP at 16 then if the LAY odds drop down to say 10 then you LAY 80 / 10 = 8 GBP at 8. So if Horse A WINS you get 80 - 64 = 16 GBP and if Horse A LOSES you still get 8 - 5 = 3 GBP. So WHATEVER happens you get 3 GBP profit -- even on a miserable horse. OK not huge but you've made a minimum of 3 GBP on a 5 GBP bet -- not a bad profit. OK you need to find a horse with a decent price range but using the graphs provided on betfait relating to price and money movements you can get very good indications from the trend lines. I've only been using Betfair for a week and only bet on UK and Irish horse races - excluding MAIDENS -- these horses are just TOO UNPREDICTABLE to even consider entering a bet -- I want to TRADE not GAMBLE-- and I've increased my bank from 100 GBP to 150 GBP. -- OK small beer for some people I know but I'm still totally new to this game and want to do it slowly before I start incresaing my stakes. I see very little mention of "GREENING" on these forums -- IMO this works BETTER than DUTCHING -- although your potential winnings are less you are guaranteed a profit. You can always EXIT the trade with a ZERO profit and Loss if you LAY the same amount as you Backed the horse for provided the LAY odds get less than the Back odds - so if the trade looks like a no hoper you can zeroize or at least minimize any losses. The Graphs on Betfair are an incredibly valuable (and much neglected) tool. I also like some software such as Betangel which also has good built in tools for helping you spot horses with decent trends. You don't need to worry too much about favourites or anything about horses at all - TRADING is about TREND spotting -- BACK HIGH and LAY LOW like any other trading system on the planet. Cheers jimbo

hi jimbo, just reading ur formula for greening up and i still can't work it out. Where did the figure 64 come from?

[skinnyman9000]

Re: Greening systems on Betfair -- seems to work Im not entirely sure what you're getting at here? Are you asking for advice, telling us how to green, encouraging people to trade? Im not sure what the purpose of this thread is. After 4-5yrs of betting ive now stopped and prefer to trade instead, so i trade on a daily basis.