One of the most common uses of the Betfair Exchange is to cash out a sportsbook bet
that’s potentially lowered 💱 in price and given you a positive cash out on the bet. It’s
a very simple concept to implement when 💱 you’ve managed to beat the starting line on a
particular Sportsbook bet. For example, you could back a selection when 💱 the odds are
first priced at 2.20, during the next few days in the lead-up to the match, their price
💱 could drop due to a number of different factors (such as team news and market
movements.)
If you want to check 💱 out the difference between the Betfair Exchange and
Betfair Sportsbook give our Betting Guide a read.
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How does it work?
A cash-out
feature allows users to settle bets before an event ends, enabling them to 💱 lock in a
profit or minimize losses.
To use the cash-out feature on Betfair Exchange, place a bet
on a qualifying 💱 market and you will see a cash-out icon next to your bet slip which
will indicate the current cash-out value 💱 of your bet.
Click on the cash-out icon, and
your bet will be settled at the current cash-out value. You there 💱 are auto and partial
cash-out features which are discussed below.
One way of ensuring you’ll make a profit
on your original 💱 Betfair sportsbook bet, is to lay the selection at the now lower odds
on the Betfair Exchange. It’s a rather 💱 simple way of beating the movements of the price
and ensuring that whatever the outcome of the initial bet, you’d 💱 still profit overall
on this match.
Auto and Partial Cash Out
Betfair Exchange offers two additional types
of cash-out features; namely auto 💱 cash-out and partial cash-out. Auto cash-out is a
unique feature allowing you to automatically cash out your bet when it 💱 reaches a
certain profit or loss amount, ideal for users who want to lock in a profit or minimize
losses 💱 without having to constantly monitor their bets.
Partial cash-out allows you to
take a portion of your winnings or losses while 💱 leaving the remaining amount to run
until the end of the event, giving you the possibility to to win more.
Why 💱 use Cash Out
on the Exchange?
Cash-out is a vital feature that allows you to lock in a profit before
the 💱 event ends, which is useful if the outcome of the event is uncertain, or if you are
not confident that 💱 your bet will win. Secondly, you can limit losses when your bet is
heading south.
The feature can also be used 💱 as a hedging strategy. For example, if you
have placed a bet on a horse to win a race, but 💱 you are not confident that it will win,
you can use the cash-out feature to hedge your bet by placing 💱 a lay bet on the same
horse, so both outcomes are covered.
When should I cash out?
This depends on various
factors 💱 such as the odds, the state of play, and your risk tolerance. However, there
are a few general guidelines that 💱 you can follow.
Start by considering if the cash-out
value is higher than your original stake, so if the decision is 💱 made to cash out you
make a profit. In addition, you should consider cashing out if the event is
unpredictable, 💱 or if the odds have shifted against your bet.
When do I get the money I
Cashed Out?
For amounts up to 💱 your original stake, you’ll get the money straight back
into your account. If the cash-out value is more than your 💱 original stake, you’ll
receive the profit when the market has closed, usually within a couple of minutes after
the race 💱 or event ends.
For example, if you bet £50 on Horse A to win, and you choose
to cash out at 💱 £10, then you will get £10 back into your account immediately (losing
£40). However, if you chose to cash out 💱 at £70 then you will receive both £50 back into
your account immediately and then an extra £20 in profit 💱 once the market has
closed.
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 size of the original bet
also affects the cash-out.
Please be aware that the 💱 cash-out amounts are not guaranteed
as the live market prices are constantly moving, so you could receive more or less 💱 than
you are expecting. You should consider the exchange’s cash-out terms in full.
