Green-up — locking in profit

What is green-up?

"Green-up" is exchange trading terminology for closing a position in a way that guarantees the same profit (or minimum loss) regardless of which runner wins the race. The name comes from trading software that colours profitable positions green — when you green up, every runner in the race shows a green figure.

It is the primary way to realise a profit on a trade before the race goes in-play, or to cut a loss symmetrically across all outcomes.

When to green-up

The optimal time to green-up is when the price has moved in your favour enough to cover the exchange commission and leave a meaningful profit. For example:

• You backed a runner and the price has shortened (fallen). You now lay at the lower price to lock in profit.
• You laid a runner and the price has drifted (risen). You now back at the higher price to lock in profit.

You can green-up at any point before the market closes, including in-play on some markets. However, most pre-race traders close their positions before the off to avoid in-play risk.

The maths — a worked example

Suppose you backed a runner at 3.0 with a £10 stake.

• BACK at 3.0 for £10: If the runner wins, you profit £20. If it loses, you lose £10.

The price later shortens to 2.5. You now want to lock in profit across all outcomes.

To green-up, you need to LAY the same runner at 2.5. The formula for the lay stake needed to equalise profit on all outcomes is:

Lay stake = (Back stake × Back price) / Lay price

Lay stake = (£10 × 3.0) / 2.5 = £12

After laying £12 at 2.5:

• If the runner wins: Back profit = £20, Lay loss = £12 × (2.5 − 1) = £18. Net = +£2.
• If the runner loses: Back loss = −£10, Lay profit = £12. Net = +£2.

You have locked in £2 profit regardless of the outcome. The profit is smaller than the potential back win, but it is guaranteed.

Note: Betfair exchange commission (typically 2–5% depending on your premium charge status) is deducted from winning positions. The green-up calculation in HRT does not automatically factor in commission — bear this in mind when evaluating small profit margins.

Using the Green Up button

HRT calculates the green-up lay stake automatically. When you have an open backed position and the price has moved in your favour:

1. The Green Up button activates in your position panel.

2. Click Green Up to preview the calculated lay order.

3. Review the projected profit on all outcomes.

4. Click Confirm to submit the lay order.

The button is also available for lay positions (where you would green-up by placing the back order).

If the market moves while you are confirming, the calculated stake may need to be refreshed — click Recalculate if the figures seem stale.

Partial green-up

If you want to take some profit but leave part of your position open, you can manually adjust the lay stake below the calculated green-up amount. This leaves you with a residual position that wins more if the runner wins, but also has a small loss exposure if it loses.