The term ‘greening up’ on Betfair may be familiar to you. For some it’s the holy grail of trading on Betfair. But how is possible to green up on Betfair and will it really make you money consistently?
The difference between matched betting sites like Betfair and traditional bookmakers is that they allow us to lay events and outcomes as well as back them. For example we can bet that a horse will lose its race or that a football team will lose its match. Gambling and betting markets are just like financial markets – they ebb and flow and are driven by greed and fear! These movements and fluctuations create opportunties to green up and make money on Betfair.
Let’s look at an example in the horse laying system market. The horse Lucky Lad is well fancied by the experts and has won three of of it’s five recent races. The night before the race it’s a very firm favourite and is available to lay on Betfair at the short price of 2.0. Other experts, however, see that there are two very strong contendors in the race and that one is ridden by a jockey who hasn’t lost at the track in his last 4 races. The following day money starts to move to the other two horses as the market follows the view that they might win and this causes Lucky Lad’s price to drift out to 3.0 on Betfair. Can you see the opportunity here? If we made a lay bet on Lucky Lad for £100 at the price of 2.0 by the time he drifted out to 3.0 we could back him for £100 with a profit of £50 if he wins and no loss if he doesn’t!
To green up this bet we would split the stake over the horses and ensure that whichever wins we make a small profit. There are free Betfair calculators and bots which can make the calculations for you. Greening up on Betfair is of course much easier when there are fewer possible outcomes – for example a football or tennis match. Here as before we look for price changes in the market which mean we can both back and lay and lock in a profit.
Greening up bets takes practise and patience but can be hugely rewarding and is worth the time to explore.