Betfair exchange were the original innovators of the cash out functionality. Betfair exchange is the biggest and most popular betting exchange in the world. Though it has loads of exciting features, one that has warmed many punters’ hearts is the Betfair exchange cash out. Before it was a bit of a manual process but on recent years they have added a simple one click button to utilise this feature. Players can lock in profits on open bets and helps to reduce liability too when things going against you.
In this piece, we will take you through everything you need to know about Betfair’s Cash out feature. We’ll explain what it is, how you calculate it, and how you can leverage it to increase your winning strike rate from your bets. It rightfully features in the list of the best cash out betting sites.
What is cash out on Betfair Exchange?
Betfair Cash out feature allows you to guarantee your profits or manage your losses on a bet. You can think of it as selling your current bet to another user either for a profit or loss, depending on the odds movement.
For instance, say you have a £100 Double Chance bet of Home or Draw at an odd of 1.30 on a match. Suppose the away team scores a goal, the odds for the Away team or a Draw drop to 1.15. At this point, you can cash out at a £13 profit since your bet is currently worth more than when you placed it. Simply put, your chances of the Away team winning or drawing are higher.
How does it work?
With just one click, you can cash out your bets on a single market. This will allow you to lock in profits and/or mitigate losses.
As we will see, Betfair has two types of cash out; Partial and Auto cash out.
With the partial cash out, you decide how much of your bet you want to cash out and retain a portion of the stake on the initial bet.
For a partial cash out, you open the selection slider by choosing ‘Cash out Part of My Bet’ in a drop-down list and then choose how much you wish to cash out.
Bear in mind that the cash out button will only pop up for markets where it applies. This means that in some markets that have low liquidity, you may not have the luxury of cashing out.
Also, the cash out amount isn’t guaranteed as it depends on the prevailing situation in the live markets. As such, you may receive more money than you expected, the process may be unsuccessful, or you get a partial cash out.
If the cash out fails, then Betfair will offer cash out amounts based on the revised market prices.
Auto cash out
Autocash out is straightforward. You set a profit level you’d prefer to cash out on, and when the cash out odds matchup, the bet will automatically cash out. This feature is ideal for those who don’t have the time to constantly check on the bet’s progress.
Partial cash out
In this, you withdraw a portion of the stake and let the remainder ride on the original stake. This type of cash out is ideal for when you still want to wait for the results to come in but want to safeguard some of your profits or stake (in case the bet is more likely to lose).
How cash out is calculated on Betfair
The value of a cash out is calculated by comparing the original odds with the odds at cash out. The original bet size also affects how big a loss or profit you will get from the cash out.
Cash out betting strategies
Using the cash out feature isn’t a guarantee that you’ll make a profit. On the contrary, the cash out could go either way. However, there are strategies you can use to increase your odds of turning a profit.
Sports trading
In this betting, players buy and sell bets at different odds to turn a profit. The trading almost completely relies on cash out.
Some players prefer Sports Trading to normal sports bettering since there is a lower risk. For instance, if a trader gets favourable odds for an outcome and reckons it’ll decrease, they place a bet. Then as the match plays out and the odds decrease, the trader can cash out the bet and make a profit instead of watching the entire match, hoping the results don’t change.
Loss minimizing cash out
In case the odds are moving in the opposite direction, it means you’ll take a loss. However, even if a loss is inevitable, you can reduce how much you lose.
For instance, if you bet for your favourite team and when the game starts, you notice they are playing worse than they do, you can opt to cash out. But at this time, you notice that the cash out will be at a loss. You choose to do so anyway because as time progresses, the odds get worse. Waiting for the final result to seal your fate isn’t an option.
Pre-match cash out
Some traders speculate on the fluctuations in the pre-match odds and eventually cash out before the game starts. For instance, a trader can expect a team will release some bad news right before the match. In which case, they’ll place a bet for the other team and then cash out for a profit once the announcement is made.
In-Play cash out
There is not much of a strategy here. But even then, cash out can be an invaluable feature even during the match since in-play has special nuances you can leverage for a profit as well.
One of the perfect examples of the nuances is the last 15 minutes of a game. In these last minutes, the losing team plays more aggressively, hoping to equalize. As such, it could be difficult to predict what happens during those last minutes.
If you still have an open bet for the winning team, you can cash out and take your guaranteed profits.
Eligible events for cash out
Cash out is only available for specific bets. Usually, Betfair will have a cash out option on the events that qualify for it. But generally, Antepost bets and bets on Enhanced specials don’t apply.
When to cash out
Well, this is entirely up to you. Some punters recommend cashing out at the same value of the original bet or setting a lose/win limit and cashing out when these limits are attained.
When do I get money after cashing out?
When the cash out is successful, the betting site credits your account immediately.