Greening up on an Exchange

Betting exchanges have transformed the way in which customers are able to place bets, providing vastly increased options and strategies for individuals to generate a profit. With better odds, the ability to back and lay, participate in live betting and ‘green up’, betting exchanges are becoming increasingly popular.

Before we get into the concept of greening up, it is first important to understand the new dimension that betting exchanges bring to customers. Traditional bookmakers only allow you to place back bets; that is betting on a selection to win. Exchanges allow bettors to act at as a bookmaker, placing bets on selections to lose. This act is known as ‘lay bet’. You are laying a bet to another user on the betting exchanges, pocketing their stake money if the bet is to lose, and paying them the liability (the odds you have offered them multiplied by their stake), if it were to win. The ability to lay bets has enabled customers to ‘green up’ on the exchanges.greenup

So what is greening up? When a bet is struck on an exchange, the potential profit is displayed under the selection in green, with the potential liabilities displayed under all of the other options in the contest in red. Greening up is effectively the process of ensuring that all of the possible options in a race/football match/tennis game etc. have a green figure attached to them. It indicates that a profit (or at least an even return) will be generated, regardless of the outcome. Greening up is achieved by trading on an event.

Trading? Trading on the exchanges is the process of striking a bet and then placing another bet at different odds in order to lock in a profit, whatever the outcome. Examples include backing Andy Murray prior to a five set match and then laying the bet at shorter odds if he wins the first set. Alternatively, individuals can place lay bets first and then back at higher odds. For instance, laying Crystal Palace pre match when they are playing away at Manchester City, and then backing them at twice the odds during live betting when they are losing 1:0. Palace are likely to be available at big odds pre match, and statistics indicate that they are very likely to concede first due to the gulf in quality between the teams, thus creating a trading opportunity.

When greening up, customers have the option of choosing to produce a level profit regardless of outcome, or they can put increased emphasis and returns on desired selections. Furthermore greening up can be achieved by trading pre-event, in live betting, or through a combination of both. Team news, injuries, weather and publicity can affect the odds of an event prior to it commencing and can provide opportunities to green up.

Betfair is a premier betting exchange, providing low commission rates, a vast array of markets and the option of live betting. Better odds, the opportunity to lay bets, to trade and therefore be able to green up are just some of the advantages exchanges offer over traditional bookmakers. Placing a bet on a sports event with a traditional bookmaker is characterized by inflexibility; there is no option to change your mind during the contest or lock in a profit without outlaying any more funds.

Live betting and greening up on exchanges allows you to trade a profit by manipulating your current outlay and no further funds are required to place your desired bets. Bettors are able to make more informed decisions on matches when live betting, especially when they are televised as flow of play and patterns can be identified.

When greening up with a betting exchange, your funds are immediately freed up and released back into your betting balance, so you are able to withdraw them or use them on another event that takes your fancy.