Cash Out Betting was born on the Exchange and allows you to lock in a profit or limit your liability before an event has finished.
In a nutshell, it’s a convenience thing. You can really cash out yourself on markets, which is trading (find out more about trading here).
Cash Out opportunities arise on selected Cash Out markets when fluctuations in the market and the odds you originally place your bet at, have changed. To profit of Cash Out, if you placed a BACK bet, the opportunity arises when the odds shorten, and the ability to LAY at a lower price allows you to lock in a profit. If you placed a LAY bet, the opportunity arises when the odds for that selection drift, and the ability to BACK at a lower price allows you to lock in a profit.
It also allows you to minimise your potential risk. For example, if you place a BACK bet and the odds drift for that selection, you can Cash Out and cut your potential losses and not have to worry if the bet is unsuccessful (i.e. your team loses). Similarly, if you place a LAY bet and the odds shorten, then you can also Cash Out in the same way.
With Cash Out, we do the maths for you and offer you a value in real time of your current bets – based on live market prices. To Cash Out on an eligible market, simply sign in and head to the market on which you placed a bet. The market will show a message offering you to cash out like in the image below.
Please note: Cash out betting (IN-PLAY) on Australian Sports is ONLY available via telephone if located in Australia.
Please call Telbet (132 238) for assistance.
Unlike the Bookmaker’s attempt at Cash Out, we do not build any margins into the profit you lock in. Because we are just facilitating a trade of a price, you will only pay your usual Betfair Commission based on the Market Base Rate applicable to that market.
You can turn off the Cash Out offer appearing on your Desktop account by going into the Settings when in Market View.
When betting is suspended on a market (e.g. when a market is in-play or suspended) then Cash Out offers are unavailable. If the value of the Cash Out offer is equal to $0, then the Cash Out offer will also be unavailable.
The Cash Out icon is displayed for markets where Cash Out is available. We currently offer Cash Out on selected sports and racing markets (Exchange only).
No. Cash Out calculates, and places, a bet(s) on your behalf in order to trade out of your existing position for the best possible result on all runners in that market – at that point in time. Cash Out bets follow Exchange rules and will be visible within your Betslip and your account statement.
Cash Out offers are not guaranteed. If there is a sudden movement in market prices your Cash Out may be unsuccessful. If your Cash Out is successful you will see a Success message. If your Cash Out fails you will see a failure message and a new offer will appear.
For the purposes of the Cash Out calculation we remove a proportion of liquidity from the market. This is done to reduce the number of unmatched or partially matched bets. As a result the offer displayed may, on occasions, be slightly lower than what is available. However, on bet placement all bets will be executed at the best available prices as per existing Exchange functionality.
When betting is suspended on a market (e.g. when a market is in-play or suspended) then Cash Out offers are unavailable. If the value of the Cash Out offer is equal to $0, then the Cash Out offer will also be unavailable.
Any reduction in exposure will be credited back to your account after placing a successful Cash Out bet with any profit made on the market paid when the market is settled. This means that the original wagered funds (not including profit gained from the Cash Out) will become available to bet prior to settlement, however, any profits or funds available for withdrawal will only become eligible after the market is settled.
A ‘Draw No Bet’ market does not have the draw option as a possible outcome. You can only select either team A or team B to win. Should the match, after 90 minutes plus injury time, end as a draw all bets on the market will be void and, your stake returned. This also applies to Cash Out bets. Regardless of whether you may have locked in a profit (or a loss) during the match, all bets will be voided if the result of the match is a draw.
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