The Royal Sampler
Floreat Pica, Bitch!
This thread is about achieving a green book on any market; ie. backing an outcome at long odds and then laying it at shorter odds, or vice versa. Obviously this is most straight-forward on Betfair, where you don't need to have the money to lay off the bet, but can equally be done using multiple sites or by backing all the alternative outcomes in a market.
Post any bets/lays you like the look of (preferably after you've made them, it might even help the market move in the desired direction) and we can keep track of their progress and talk about when to hedge your bet to achieve the "green book".
I'm very new to the discipline of "trading", and my most recent experiment is a bet on Fernando Verdasco to win the US Open @ $150. Frankly, I think he's next to no chance of winning, but that's what separates this thread from others on this board; the final result is irrelevant because we're trying to create a win-in-any-outcome scenario.
Since winning his first 3 rounds, he's shortened to $75 or thereabouts, allowing me to double my money (or close to) if I lay off the bet now. In actual fact I'm going to see out his 4th round match too, given he's playing #51-ranked John Isner who has never played Verdasco before, and might find the left-hander a bit tricky. At that point, assuming Verdasco wins, I'm not going to risk him against Djokovic, I'll lay Verdasco at around $40-$50 and ensure whoever wins I make a good profit.
In general though, I'm leaning away from "elimination" events for these kinds of bets. Something like backing a team to make finals, or a player to win the Brownlow/Rising Star, might give less risk and more opportunities to hedge as opposed to losing the bet outright in the blink of an eye.
Post any bets/lays you like the look of (preferably after you've made them, it might even help the market move in the desired direction) and we can keep track of their progress and talk about when to hedge your bet to achieve the "green book".
I'm very new to the discipline of "trading", and my most recent experiment is a bet on Fernando Verdasco to win the US Open @ $150. Frankly, I think he's next to no chance of winning, but that's what separates this thread from others on this board; the final result is irrelevant because we're trying to create a win-in-any-outcome scenario.
Since winning his first 3 rounds, he's shortened to $75 or thereabouts, allowing me to double my money (or close to) if I lay off the bet now. In actual fact I'm going to see out his 4th round match too, given he's playing #51-ranked John Isner who has never played Verdasco before, and might find the left-hander a bit tricky. At that point, assuming Verdasco wins, I'm not going to risk him against Djokovic, I'll lay Verdasco at around $40-$50 and ensure whoever wins I make a good profit.
In general though, I'm leaning away from "elimination" events for these kinds of bets. Something like backing a team to make finals, or a player to win the Brownlow/Rising Star, might give less risk and more opportunities to hedge as opposed to losing the bet outright in the blink of an eye.
