The Green Book System

As I reflect on some successful punting at the 2012 US Masters, I feel it necessary to briefly explain the kernel of my profit.

The green book is  essentially two bets (one back, one lay) on the same event e.g. Bubba Watson to win the Masters. The reason it’s called a green book is due to the fact that whatever result (win/lose) happens, the punter will make a profit on their trading. This green book phenomenon is due solely to the existence of betting exchanges (I use Betfair but there others such as Betdaq etc. available). On a betting exchange, the option exists for the user to back a bet (as one can do with any traditional bookmaker) or lay a bet. Laying a bet means that the person becomes a bookmaker. They make money if “Player A” loses and lose money if “Player A” wins.

Because of this laying facility, you can create a green book by backing “Player A” to win at a high price and then later laying them off at a lower price. As with all successful trading, there is still a strong element of skill involved, as incorrectly calling the market will prevent you from laying at a lower price.

While the greenbook system is not perfect, it is a robust and reliable method of generating revenue in-play when there is uncertainty about the end result. I welcome any comment about your experiences with the greenbook system or any other systems which may be similar to this.

If Padraig Harrington were a racehorse…

Weight: Looks fairly fit.

Age: Pushing on, but still has plenty in the tank

Trainer: Too many to mention. But he’s not short of knowledge

Owner: n/a. But he had one it would be JP McManus

Course: A couple of places, never threatened near finish line

Going: TBC

Distance: He has won 3 major championships and many 72 hole strokeplay championships. But has never won the Masters

Form: Recently shot a career best 61 but has not recently closed out under pressure

Jockey: Ronan Flood. Experienced bagman and a very close friend. Knows how to get the most out of him

Jump: I assume so he has a few kids

Travel: He won’t get there on a bike

Connections: Too many to mention

Competition: The best players in the world, all trying to do exactly the same thing but in different ways.