Definition of cash out
The translation of cash out means "cash out now" and is an option that allows the customer to exit a market at any time, allowing you to block the profits made or reduce losses using a mathematical formula that divides the gain into equal parts to the odds current. There is now an option on the Betfair website that allows you to divide the profit into different parts according to the greater probability of an event coming out compared to another. The original definition of cash out is the sharing of 50% of the potential profit accrued at the relative current odds.
The Betfair cash out is a new betting option launched and invented by Betfair that immediately met with great success in Great Britain also thanks to a targeted and powerful marketing campaign made up of advertising spots of great effect and impact.
Cash out is available for the Betting Exchange in England also in sportsbook mode (Betfair as a traditional bookmaker).
Operationally, once the Betfair cash out button is pressed, the system will close our trade on the Betting Exchange at the amount available at that time and will close the operation if there is liquidity. It is always advisable to check if the market has sufficient liquidity to be matched so that by clicking on the relative button, thus avoiding closing the position at odds that are very far from fair value and therefore disadvantageous.
If you don't pay attention when you click on the cashout taste you could incur a loss instead of making a profit as you thought. Once you click on the button, the word cashout comes up which can be misleading.
Cash out bets
Betfair has launched in Great Britain in addition to the Betting Exchange platform a platform called sportsbook in which it operates as a traditional bookmaker giving the possibility only to back a bet, offered precisely as a bookmaker. Betfair therefore gives its customers the possibility to close a stake bet (with the traditional bookmaker only this possibility is allowed) at any time by pressing the cash out button.
With the cashout button you can immediately collect the money from the bet made at the market odds at that particular moment. If we have placed a bet on Juventus winning at 1.90 before the start of the match and Juventus in the second half is winning, but the match is fought with the possibility of a possible draw, you can choose to exit for example at the odds of 1.20 by making the cash out, cashing in less money than the win at the end of the game, but cashing in a certain and immediate benefit: you go straight to the cashier! The cash out is also used in the opposite case to limit the possible losses of a wrong operation.
In the last few years Betfair has introduced the cash out in certain markets (Match odds, Exact result, under / over) on its website for all Betting Exchange customers in order to give the possibility to all customers who use the site or the Betfair mobile application to be able to do the green up.
With sports trading software, on the other hand, it is possible to cash out on any market through the green up placed in the vertical ladder. It is always recommended to green up with the ladder as you see the liquidity present and the value of the profit as the odds change. This way you do not make mistakes and you have the total profit.
Formula cash out
The cash out is nothing more than the green up done automatically on the betting exchange platforms that use the Betfair api or manually through the calculator on the site. We have found that the Betfair cash out is slightly "pejorative" by about 2% compared to doing the green up through a traditional trading software by pressing the button of its related function. Consequently, every time you do it from the betfair site there is a reduction in the profit made which in the long run can be significant. The newbie who does not trade professionally using sports trading software can safely make cash out from the Betfair site which is a great option and opportunity.
From the website you can then make the cash out easily and without doing calculations by hand or moving to a site or an excel spreadsheet that allows you to calculate the share you have to bank to split the profit in equal parts on all your selections.
For those who want to understand exactly how it works, you can do some tests with the green up calculator we made in order to become familiar and better understand how Betfair cash out works.
Cash out calculator
Without a doubt, doing green up from a betting exchange platform is better than the Betfair website as from the vertical Ladder you can choose at what odds to do it by simply clicking on the odds itself, while from the site once you have clicked the cash out, it is automatically Betfair that goes to do it at the best price, which, however, can be the least advantageous for us.
In any way, Betfair cash out is a great and revolutionary possibility offered to everyone starting from April 2014.
It is useless and "stupid" to make single bets with a traditional bookmaker when it is possible to do it with the betfair exchange and take advantage of the cash out to exit a trade at any time.
We remind everyone that it is not possible to cash out on all available markets, but the operator enables this option only for a limited number of markets where it believes that liquidity is satisfactory to allow customers to go and match their bets once once clicked on the gold cash out icon.
Please note that cash out is very important to limit losses and use it as a sort of stop loss; the button collect now, recently modified, obviously does not have the same meaning as you are not going to get a profit, but to have a monetary outlay equal to the value of the cash out.
Making the reverse cash out allows you to respect the rules of money management which are the main key to be able to obtain constant profits on the Betting Exchange.
Anyone who wants to take advantage of this mode in all markets must use the green up through a trading software such as Traderline or the others reviewed by us on the appropriate section.
Manual cash out
If you do not want to use the cash out from the betfair site as you cannot choose the desired odds to exit and you do not "want to pay" the hidden commission, you have the alternative of making a manual cash out using the manual green up calculator on our site. In the calculator you have to enter the stake, the oddas and the calculator will give the amount to belayed in case of green up or to back in case of red up.
- Written by: Gianluca Landi
- Category: Betfair