GREEN BOOK PUNTING
Simply put Green Book Punting is the process of punting on a race and locking in a profit no matter the outcome of an event. Whether your horse wins or loses, you make a profit. Or, at the very least, break even.
Green Book Punting
This Betfair concept relates to having a bet on a selected race where you limit your risk and put yourself in the green no matter the result. Green book punting has enabled Betfair to revolutionize the betting industry.
Green booking is only possible when the conditions are right, but here’s a little help so you understand how it works.
Green Booking Example
You back a horse in a ten runner field for $100 at $6.00. Your liability is currently $100 (if the horse doesn’t win) and possible profit is $500 (if the horse does win).
Your horse is well backed and the start of the race is approaching, its price has dropped to $3.00 to Lay. There is now an ideal opportunity to trade out of your current position and limit the risk of losing the $100. If you Lay $100 at $3.00, this is what happens:
|Back $100 @ 6.00||
|Lay $100 @ 3.00||
|Total Profit or Loss||
Your worst case scenario now is that you get the $100 back and lose nothing. However, you still stand to win $300 if the horse wins.
The reason that this works is that the system knows that one bet will definitely win and one will definitely lose. And don’t forget, although our example cites horse racing, this tactic can be employed across any sport.
So, the basic rules for Green Booking are:
Back big & lay low. If you are punting, always back at a higher price than you lay or else your Green Book will become a Red Book, which is the opposite of what you want.
The bigger the difference in the two prices, the more you stand to win. Timing and judgement are everything when it comes to running a Green Book.
It is vitally important that both bets are matched otherwise you could still end up just paying out a losing bet.
Understand the factors that cause your market to move in order to predict on when to back a selection in this way.
In our example we used the same stake as liability which eliminates the risk, but it is also possible to win a larger stake than we backed at, thus achieving your Green Book result and enabling you to make a profit whatever the outcome. After settlement, you are credited with any winnings and the whole exercise has cost nothing; it is as good as having a free bet.
There are other ways to get a free bet and the team at RaceBiz are here to show you how. Want to know more?
Come along to our next Workshop on 25 August 2019 DETAILS HERE
Or contact us today on 1300 RACEBIZ.
Enjoy the ride and “Happy Punting” from the team at Racebiz.