How to ‘green up’ a BET you have placed…

Hi Buncey,

There are lots of places that can explain how you ‘green up’ a bet, although it depends on where and why…

For the following 3 points, the answer is different:

• Betting with a bookmaker
• Betting on an exchange
• Betting between a bookmaker and an exchange

However, the underlying answer remains the same:

to green up you need to place two bets against each other, on the same selection

The numbers will vary depending on the prices.

Essentially, greening up is the same as using a cash-out function. Its just a slightly different way of saying it – slang usually found in exchange trading communities.

To go a little deeper on the 3 points listed above…

With a bookmaker – clicking cashout is your only option. Note, a hefty margin will be built into their cash-out, making greening with a bookmaker a pretty bad option.

With an exchange – again, they will have cash-out buttons via the web interfaces. However, you should remember it means the counter-bet will be placed at the current trading price, not offered at a ‘future price’.

Between the two – I’d advise using the calculator on this site as a cheat. Otherwise, you will need to work out the stakes and liabilities to balance the outcomes, producing a balanced ‘green position’.

Hopefully, that’s a helpful answer 🙂

Cheers,
Caan

p.s. this sports trading article talks through the potential outcomes on an exchange when ‘greening up’.