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NEW MARKET: CASH BACK 2ND

CASH BACK 2ND MARKETS AVAILABLE TODAY

Check out all the Cash Back 2nd Markets for metropolitan racing at Mornington available in the Betfair App.

 

 

New to Betfair: ‘Cash Back 2nd’ Markets

Introducing Betfair’s latest addition to our racing market offering – ‘Cash Back 2nd’ markets. In this article, we’ll delve into what these markets are, and what to expect.

What Are ‘Cash Back 2nd’ Markets?

Betfair has introduced ‘Cash Back 2nd’ markets, which are an exciting addition to the standard offering, including Win, Place, Head to Head, Exacta, and Quinella. These markets will be available on selected greyhound and thoroughbred race meetings, and will be available on race day. Navigate to the ‘Cash Back 2nd’ tab within the race view where available, to place bets.

Just like the traditional ‘Win’ market – in ‘Cash Back 2nd’ markets, Exchange users back or lay a selection to win the race. Here’s where the ‘Cash Back 2nd’ mechanism comes into play- when the race concludes, all bets matched on the runner/s finishing in 2nd place will be voided, with stake/liability refunded in full to customer accounts, as ‘available to bet/withdraw’ funds. This applies to both back and lay bets. In essence, this feature acts as a safety net for those backers who were close to victory, but ended up in 2nd place.

To account for the safety net of ‘Cash Back 2nd’ provided to backers of a selection, with the voiding of bets on the 2nd-placed finisher, market prices are likely to differ from those seen in the traditional ‘Win’ market. This difference in price also provides an opportunity for lay bettors, looking to lay a selection at a different (lesser) price than what’s available in the traditional ‘Win’ market.

Where a late scratching occurs after the market has been loaded, the market will be voided in full.

In conclusion, ‘Cash Back 2nd’ markets are an exciting and welcome addition to the Betfair Exchange. They offer a unique and exciting way to bet on greyhound and thoroughbred races, with the built-in safety net for those who back a runner that finishes 2nd. So, next time you’re looking to place a bet, consider giving these markets a try.

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