Jun 15

 

 

Green Book Betting 

This Betfair concept relates  to being able to create a position on a market where you limit your risk and put yourself in the green on every possible outcome. Green book betting which is also known as Trading has enabled Betfair to revolutionise the betting industry.

Green booking is only possible when the conditions are right, but here’s a little insight to help you understand how it works.

Jun 15

 

 

28.8 Punters must know GREEN BOOK BETTING, because we will make markets firm.

 

Win and cannot lose if you do it right... Jim

 

https://www.betfair.com.au/hub/betting-better/green-booking/

 


GREEN BOOKING EXPLAINED
Home / Betting Better / Green Booking Explained


Green Book Betting is the process of trading and successfully locking in a profit no matter the outcome of an event.



Green Book Betting

This Betfair concept relates to being able to create a position on a market where you limit your risk and put yourself in the green on every possible outcome. Green book betting which is also known as Trading has enabled Betfair to revolutionise the betting industry.

Green booking is only possible when the conditions are right, but here’s a little insight to help you understand how it works.



Green Book Betting 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:



Bets Selection Wins Selection Loses
Back $100 @ 6.00 $500 – $100
Lay $100 @ 3.00 – $200 $100
Total Profit or Loss $300 0


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.

On the Betfair website, if you have your P&L function ticked within Settings, it would show $300 next to your selection and -$0 next to every other runner. The P&L function shows your profit or loss on the market should that selection win.
Although the above example relates to horse racing, Green Book betting can be employed across multiple sports.

The basic rules for Green Booking are:

Back big & Lay low. If you are Green Booking, always back at a higher price than you Lay or else your Green Book will become a Red Book,.
The bigger the difference in the two prices, the more you stand to win if the result goes your way. You could wait and see the gap increase but alternatively, you may miss the opportunity. Timing and judgement are everything when it comes to Green Booking.
It’s vital that both bets are matched otherwise you could still end up just paying out a losing bet.
Understand the factors that cause markets to move in order to predict fluctuation.
In the example, the same stake was used as the liability which limited the risk, but it is also possible to win a larger stake than what was backed at.

After placing a larger Lay bet at a smaller price, the exposure releases the previous liability but will not credit with the possible profit until the result is known.

After settlement, the account is credited with any outstanding winnings less the applicable commission charges.

Jun 15

 

 

On fire at Royal Ascot tonight 2/2 100% strike rate...Jim

Bedtime now 1am

 

Another winner on top (14) 97% fit wins and fav (20) unplaced, too many horses around it as fit, nice call Jim rt

 
 
 
 
 
 
 
 
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  2.  

    28.8 fit sheet next Ascot, fav. plenty horses as fit around it, value bet suggest Jim rt 9 nice type

Jun 15

 

 

Winner paid $2.80, beautiful Jim

Jun 15

 

 

Our first winner and tip at Royal Ascot and 98% fit and never going to lose and got the rest 2-8-13  $85

 

98% 2 WINS as called and beats the next line 2-8-13 fitter horses performed Jim rt

 
 
 
 
 
 
 
 
    1.  
    2.  

      from the yard next race 98% 2 97% 9-8-16-13-18, the fav (2) looks well 28.8 live coverage Jim rt

 
 
 
 
 
 
 
 
  1.  
  2.  

    from the yard next race 98% 2 97% 9-8-16-13-18 good luck, the fav (2) looks well 28.8 live coverage Jim rt

Jun 14

 

 

The British Racing Authority say there are 7 million punters in Britian.

 

Let's get some of them  on 28.8 betting on world markets.

 

Then the same again in Asia and Australia.

 

Cheers Jim

Jun 14
Jun 14

 

 

 

Punters’ body say bookies closed 20,000 betting accounts in six months

 

Horserace Bettors Forum argue racing’s appeal is being undermined
‘Racing can’t continue to haemorrhage punters and followers’
 
On the eve of Royal Ascot, a group representing punters is claiming bookmakers closing betting accounts is a major issue for racing.
On the eve of Royal Ascot, a group representing punters is claiming bookmakers closing betting accounts is a major issue for racing. Photograph: Getty Images

On the eve of Royal Ascot, a group representing punters has warned the risk-averse practices of major bookmakers are undermining public interest in horse racing. The Horserace Bettors Forum believes as many as 20,000 accounts of British-based punters have been closed in the last six months, with perhaps twice as many restricted.

Those estimates are the result of a survey conducted by the HBF during April, the results of which are now published for the first time. The 878 respondents reported more than 1,000 closed accounts and more than 4,000 restricted accounts in the previous half-year. That led 59% of respondents to state their interest in betting on racing had been reduced.

The HBF also reports having had the co-operation of one major bookmaking firm, unidentified, discussions with which led it to the “conservative” figure of 20,000 for the entire British betting industry. Allowing for the fact punters hold multiple accounts, the HBF estimates 7,000 individuals have been affected and 4,000 bettors will have a reduced interest in racing every six months as a consequence of bookmaker action against them.

“On the face of it, this is a significant problem, if the appeal of betting on horse racing is possibly being seriously eroded by the trading practices of individual bookmakers,” said Simon Rowlands, who has chaired the HBF since its creation last year. “If customers are turned off by that experience, racing suffers.

“Right from the outset, this was the issue raised most frequently with us by the public and until recently there has been a lack of media coverage in this area. I’m not greatly surprised by our findings, in that we thought it was a big issue, but the size of it has exceeded even our expectations. You still need to take it on trust that people are reporting their situation faithfully and I’m sure that some people will remain sceptical.”

The next step, Rowlands hopes, is the British Horseracing Authority and other powerbrokers in racing will recognise the issue as requiring action. “This subject came up in discussions with senior figures at the BHA some months ago. They’re aware of it as an issue. They may not have been aware of the magnitude. That discussion was one of the reasons we felt we needed something more than anecdotal evidence, something to present to the various stakeholders.

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“It is damaging to racing if bookmakers are using racing as a loss-leader and weeding out punters who happen to be profitable or, in some cases, appear that they may become profitable at some point in the future.

“HBF believes this survey should inform discussions about how racing and betting deal with their customers. British horse racing can’t continue to haemorrhage punters and people who just like to follow horse racing and have the odd bet.

“I’d like to think that enterprising bookmakers will see an opportunity for them to corner some of the market by using more enlightened risk-management practices but horse racing can’t wait for that to happen, for the market to correct itself. Racing needs to do something to tackle this problem now.”

It appears the prospects of a supportive response from bookmakers may be slim. The Guardian approached a small number of firms for an initial reaction to the survey but was not offered an on-the-record response.

One bookmaker source, speaking on condition of anonymity, roundly rejected any suggestion the issue could be a problem for racing or that the HBF may be justified in involving itself. “The vast majority of customers” are unaffected either by closure or restriction, the source insisted.

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