Betfair Trading: How to Green Book

Betfair Trading: How to Green Book

Sports betting in Betfair can have many forms, like trading sports. A betfair trader makes money trading the betting odds as they swing. A green number under the event he is trading is his profit, which is a sum of all his profitable trades. The question is how to green book, that is how to have all possible results in a betting market returning a profit. The answer lies in simple maths but in free online betting tools as well.

[highlight]Learn about Betfair trading and read the latest news about sports trading in my new trading blog![/highlight]

In case you haven’t been a betfair trader, read my post about how to make money trading the betting odds in betfair to get an idea.

Profitable trading is all about making the right decisions during backing and laying certain outcomes of an event. The trader uses his knowledge and skill to make money when the betting odds move from highs to lows and vice versa. In the end of his trading, he stands to win some money on the outcome he has been trading.


trade-drift

Betfair trader’s next step is to equalize his profits, in other words to produce a green book or an all-green screen. All he has to do is divide the profit by the currently betting odds of the specific outcome of the betting event and lay that amount. The difference in case his trades resulted in a loss, is that he has to back (instead of lay) the amount which results from dividing the loss by the odds. I guess that would be a red book or an all-red screen.

even-profit

Bet Angel Professional - With Excel scripting

Additionally there are free betting tools online which can help you calculate the amount to back or lay so that you have a green book. Chromaweb’s Arb Calculator is one of them which you can try for free for as long as you want. Make sure you read why you should always green up!

Get my Posts in Your Email For Free!

I will deliver my posts straight to your inbox as soon as they're published.

  • “All he has to do is divide the profit by the currently betting odds of
    the specific outcome of the betting event and lay that amount.”

    This makes no sense at all, and no matter what I do with the number in the example, they don’t add up.  A formula would help a great deal.

    • Jim Makos

       Ken, let’s say you have traded well and you stand to win $50 if the favorite horse wins and lose nothing in any other result. Assuming the favorite horse’s odds are 1.25, you have to divide $50 by 1.25, resulting to 40. Now you need to lay $40 at 1.25 and you are done. I hope it’s more clear now.

      • Thanks! 🙂

        I do have formulae for this now though. 😀