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Greening Up Position
I don't know if anyone is familiar with greening up a position.
Essentially, as I understand it if I have a lay bet @ $4.00 for $100 stake matched and a back bet @ $5.00 for a stake of $100 matched, I stand to win $96.50 (less commission) should the horse win, but nothing should the horse lose. By dividing the profit on this horse by the current odds, and firing a lay bet into the market, I reduce my profit, but guarantee a smaller profit no matter the result. The problem arises, when I have multiple matched bets.... Let's say I have the above stakes matched before greening up my position, but I also have two other lay bets matched at lower odds, but no other back bets matched. How do I green up the one position, and let the others ride???? In other words, I am reducing my liability on the outstanding wagers by the cemented profit. I know Bet Angel has a built in greening up feature, which I use, but in this sort of case, it won't work (as I understand it). Any ideas??? My first thought, is just to manually calculate the profit on the two matched bets, and fire another lay bet into the market at the profit divided by the current odds, but hasn't this been already partially done with the newer lay bets matched? Confused.
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RaceCensus - powerful system testing software. Now with over 400,000 Metropolitan, Provincial and Country races! http://www.propun.com.au/horse_raci...ng_systems.html *RaceCensus now updated to 30/04/2024 Video overview of RaceCensus here: http://www.youtube.com/watch?v=W821YP_b0Pg Last edited by Chrome Prince : 2nd August 2007 at 05:54 PM. |
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