In introducing the groundbreaking Betfair Exchange back in the year 2000, Betfair all but created the concept of what is now known as Cash Out betting.
Never before could you ‘lay’ a selection to lose and that gave you an ability to cancel or amend a bet before the race or match had been completed. This allowed all punters to take a profit or accept a loss ‘in play’.
Nowadays Betfair have their own conventional sportsbook (a bookmaker site) and that offers the ability to ‘cash out’ bets on numerous markets both before the event has started and while it is in progress. Furthermore Betfair allow you to ‘cash out’ an entire multiple bet before all legs of it have been completed.
How Does Betfair Cash Out Work?
Cash Out is an easy way to guarantee a profit regardless of the final outcome of the selection(s) you have backed.
It also makes cutting your losses very straightforward. Betfair Cash Out is one of the very best in the marketplace because not only do they offer customers fair returns, they also allow you to ‘cash out’ only part of your wager and leave the remainder of your bet to run.
How Can I Cash Out with Betfair?
You can ‘Cash Out’ on lots of Betfair sports including Football, Horse Racing, Snooker and Tennis. You simply need to tap the yellow ‘Cash Out’ button alongside your bet to receive a Betfair Cash Out offer.
So here is an example of a Cash Out betting scenario…
In a Premier League football match featuring Arsenal and Chelsea you have backed Arsenal to win with a £10 stake at 2/1. At the 70th minute the game is in deadlock with a 0-0 score-line.
Clicking the Betfair Cash Out button at this point may see you offered £4 for your bet. This means if you Cash Out you will lose £6. If you wish to cut your losses as you do not think your team is going to win or they are simply getting outplayed you may indeed decide this is a good idea.
However, imagine Arsenal score in the 78th minute. Clicking on the Betfair Cash Out button now may see you being offered £22.50 for your £10 bet. That’s a guaranteed profit of £12.50. Of course you may decide to sweat things out, hope Chelsea do not equalise and collect the full £20 in profits at the full time whistle.
The Cash Out option is also available from the Betfair App.
Our advice at this juncture would be to take a partial Cash Out, returning £10 to your account, meaning a guaranteed ‘no loss’ scenario and letting the remainder of the bet run with only an upside of a clear profit.
Bets & Matches
Betfair offer cash outs on bets as well as individual matches and races. In the case of a treble, for example, if the first two selections have won, Betfair will offer you a Cash Out long before the third match or race has started.
Remember though that ‘in-play’ Betfair Cashout amounts are not guaranteed as they are based on live betting markets and are constantly changing.