A few years ago greening up was all the rage as people hurried to Betfair when they heard of this miracle of being able to profit whatever happened in the race. It seems to have quietened down a bit now the realisation that if you get it wrong you can also lose whatever happens in the race (i.e. no chance of winning).
Having recently received a number of emails asking how this calculation is done I thought it was probably time to get an article up on the Race Advisor explaining what greening up is and how to go about calculating the bets required.
Greening up is the process of turning a profit / no loss situation on a runner into a profit on every runner. You get into the profit/no loss situation by trading a horse (or whatever sporting event you may be trading) successfully. Before the event starts you may have a profit of £100 if your traded selection wins and a loss of zero if it loses. However you may prefer to take a guaranteed profit of £20 whatever selection wins rather than letting all your hard trading work go to waste if the selection loses.
Calculating How Much To Bet
There are various pieces of software available that will allow you to green up at the push of a button but, as with most things, it is important to understand what is happening behind the scenes. If you are an inplay trader or trading in the last ten minutes then it is likely that you will need to use software for speed anyway. If you are a trader who takes longer positions in the morning and trades out before a race then it is likely that you will have time to work out the stakes required to green up if you do not want to use software.
Below is a theoretical image of a successful trade. You can see that successfully placing a back bet of £100 at odds of 4.00 and a lay bet of £100 at odds of 3.7 would give a profit on Boundaries of £28.50 if he were to win and a loss of £0 if he were to lose.
Now our trader decides that he wants to green up and take a profit on this race whatever happens. This will require placing another lay bet on Boundaries to spread out his profit. In order to calculate the amount he needs to lay he takes the profit of £28.50 and divides it by the odds currently available to lay. Let us say that the market has dropped and the lay odds are now at 3.7:
28.5 / 3.7 = 7.13
This means that we would need to lay an extra £7.13 in order to green up and make the same amount of profit no matter whoever wins.
That is all there is to it. A note is that if you have traded unsuccessfully and have a loss on a selection and want to spread this loss across all runners then you perform the same calculation but back the horse a second time instead of lay.
Today’s article should clear up any of the confusions that you may have had regarding greening up.