Bookmaker Cash Out

Several Bookmakers throughout Australia are now offering Cash Out for punters. Cash Out offers punters a payout on their bet before the event ends.

What can initially seem like an attractive offer, for a customer, is in fact a way for a bookmaker to buy back a bet with an even greater margin. Cash Out is not a product designed to help customers win more.

The original and the smartest way to cash out is on Betfair’s Exchange.


Bookmakers’ Cash Out Revealed

The Bookmakers’ Cash Out product is effectively teaching their customer how to trade on their position. When a customer has placed a multi or single bet and has progressed positively in their position they can then Cash Out/Trade/Lay off to lock in a profit.

The big difference between the Bookmakers’ and Betfair’s Cash Out products is that the Bookies are offering low Cash Out payouts. Let us explain further with a well-publicised example from the 2015 Melbourne Cup.

 


Unfortunately the punter famously cashed out when they had Prince of Penzance in the last leg of their multi. If they didn’t cash out they would have collected $138,510.

The fact that this client mitigated their risk is not the problem we see here, it’s the fact they were offered $441.20 when the true value of the ticket was $1710.

StakeMulti LegEventOddsCombined OddsCurrent Value
$5.001Flem R3$ 9.50$9.50$47.50
2Flem R4$ 6.00$57.00$285.00
3Flem R6$ 6.00$342.00$1,710.00
4Melb Cup$ 81.00$27,702.00$138,510.00

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