How to use Cash out in Betfair?

Manchester City is playing Crystal Palace away. You have read that the Citizens have a rather negative tradition in Selhurst Park. You also know that they are playing a crucial Champions League match in a few days. So you decide to go with the underdog and bet on Palace to win. The home team scores first, but as we approach the final ten minutes, City is putting pressure. You feel that the City forwards will soon score.

This is a situation we’ve all found ourselves in as bettors and it is nerve-wracking. Why not cash out, secure a profit and move on? Cash out is a powerful tool. Pioneered by Betfair, it gives bettors the chance to get an early payment and win regardless of the final outcome or cut losses when things go south.

In this article, we will explain everything about the cash out Betfair offers, go through the different types of Betfair cash out that you can find on the platform, walk you through the procedure of closing your bet and show you the pros and cons of choosing to cash out.

Types of Betfair Cash Out

There are four significant cash out variants, all of which are available on the Betfair betting exchange. Let’s visit them one by one, with explanatory examples.

Total Cash Out

In the example used in the article intro, we saw how you can secure a profit. But let’s talk numbers. If you wagered 20 euros and Crystal Palace was offered at 3.00 (in decimal odds), your total winnings would be 60 euros. But if you decide to cash out on the 75th minute, when Palace’s odds have fallen to 1.50, the amount you are offered would be close to 45 euros. The Betfair cash out is calculated based on the starting odds, the live odds, and the stage the match is currently at.

Auto Cash Out Betfair

A rather new Betfair feature is the Automatic cash out. When the Betfair cash out value reaches a limit you have set previously, it will happen automatically. If, for example, the maximum winnings are 200 euros, you can set a limit at 170 and when the cash out value reaches that, your bet will be “sold”.

Partial Cash Out

Betfair gives us the chance for something revolutionary: to split our bet in two, cashing out one part and letting the other run out. Let’s say you have wagered 100 euros on over 2.5 goals at 2.20. At the beginning of the second half, the score is 2-0 and Betfair offers 180 euros to cash out. You can get 90 euros and leave 50 euros running as your bet. The partial cash out Betfair provides can be used for 1% to 99% of your initial bet.

Negative Cash Out

Sometimes we just have to cut our losses and move on. If our bet is not going well, we can cash out for a loss and not lose the total amount of our wager. So if in the previous example the score is still 0-0 as we approach halftime, we can (for example) get back 50 out of the 100 euros we wagered, and “save” the rest of our funds.

How do I cash out on Betfair?

Betfair offers a fast and responsive cash-out tool, which can be used in single bets or accumulators. In order to use the Betfair cash out, open your bet slip and you will see the cash out availability just under it. Just by clicking on it (and then clicking on “Confirm”), you can accept Betfair’s offer.

For a partial cash out Betfair also has one of the most intuitive procedures that can be found online. Open up the slider by selecting “Cash Out Part of my Bet” on the drop-down list. Then choose what percentage of your bet you want to cash out.

Pros and Cons

As with any betting strategy, using the cash out Betfair offers comes with its advantages and disadvantages. It is important to know these points, to better evaluate each situation and understand when cashing out is an optimal move and when we should just let the match run out.

Pros

• A Betfair cash out lets us interfere with the bet while it’s in play, an option older bettors couldn’t have, as placing a wager was final and only the final outcome could lead to winning or losing.
• Using the total cash out Betfair offers in the majority of ongoing bet slips, you can secure a profit. Even if the match goes south later on, which is not the most uncommon thing in sports.
• The partial cash out Betfair pioneered is one of the most powerful tools in a bettor’s arsenal. You can get security, by ensuring a profit, but maximize it later on, if your initial instinct was right.
• Using a negative cash out can cut losses and let you use that funds to win on another bet.

Cons

• If after cashing out, your bet proves to be successful, there is always that feeling of “what if I had let it run through”. It is a typical “leaving winnings on the table” situation.
• Cash out winnings do not count towards bonus rollover requirements.

Should I cash out my bets

There is no definitive answer to whether you should cash out a bet or not. Firstly, it is a personal preference and a cash out strategy is a long game. Sometimes it will be beneficial, sometimes it won’t. Every situation should be evaluated individually.

There is a rule of thumb. If you are not confident in your wager any longer and you are satisfied with the betting exchange’s offer, then you should consider cashing out. If your bet looks fine as it is, the Betfair cash out tool, however great in other circumstances, should even be on the back of your head.

To sum up, every bet is unique and the decision is yours. But it is always great to have such an important tool by your side.