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.
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.
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.
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!
I have been a professional gambler since 2003 when I first played Blackjack at the local casino. During the following years I developed online betting systems and became an expert in sports trading at the betting exchanges, mainly by scalping the betting odds at horse racing markets. I have also been a casual online poker player and share my experience in my personal gambling blog. Forex and stock trading fascinates me and I am testing trading strategies based on technical analysis applied to financial charts.
