Auto Cash Out has come to the Betfair Exchange. You can now lock in a profit without having to lift your phone out of your pocket. To set up an Auto Cash Out you need to have an active Cash Out position in a market. Simply place a matched bet and in the receipt you will see the option to create an Auto Cash Out.
- Betfair Auto Cash Out Not Working
- Betfair Auto Cash Out
- Betfair Auto Cash Out Loss
- Betfair Auto Cash Outlet
If a Cash Out is unsuccessful or partially successful then Betfair will offer you a new Cash Out amount, based on your selection's race position and the prices in the market at that moment in time. Warning: Although the current score, time elapsed, video and other data provided on this site is sourced from 'live' feeds provided by third parties, you should be aware that this data may be subject to a time delay and/or be inaccurate. Please also be aware that other Betfair customers may have access to data that is faster and/or more accurate than the data shown on the Betfair.
Auto Cash Out is Betfair's latest Cash Out functionality, giving you the complete control over your bet, even when you are not near a mobile device or computer. This means you can now lock in a profit. The confirmation screen provides protection against accidental clicking of the Cash Out button. If you have the confirmation screen enabled, and click the Cash Out button, you will see an overlay.
If you bet online, you'll probably be familiar with Cash Out. It allows you to quit whilst you're ahead, by locking in a profit before an event is finished, rather than letting the bet run and risk losing out. Things not going your way? If you don't fancy your chances of a comeback, you can also Cash Out for a partial loss rather than risk losing your whole stake.
The idea of cashing out was pioneered on the Betfair Exchange, which by its very nature allowed quick-thinking punters to ‘lay off' potential losses whilst a bet was still live. Nowadays though, cashing out on the Exchange can be done at the touch of a button. Even better, it gives you a fairer settlement on your bet than would be offered on regular betting sites, as prices are more competitive in the majority of cases – this is due to the fact there's there no built in margin like with bookmakers, so you get more bang for your buck.
Why use Cash Out on the Exchange?
The Betfair Exchange allows you to cash out all bets placed on a single market, whether that be just one or several, at the touch of a single button.
For example, let's say you've bet on two different horses to win, in a ten-horse race. They're coming to the last fence and both of them are still in with a shout – along with one more that you haven't bet on. You'd face a tough decision. Do you cash out on one? Both? Or neither?
Because the Exchange offers live prices on all runners, it will effectively calculate the odds of all your bets winning at any given moment, and come up with a sum ‘cash out' total. This means you're guaranteed a return – most likely at a profit in this example – regardless of whether your horses go on to win or not.
Bear in mind that Cash Out amounts aren't guaranteed as they are based on the live Betfair markets, where prices are constantly moving. This means you may receive more than indicated, if the odds go up; if the odds go down, your Cash Out may be unsuccessful or only partially successful, depending on the liquidity of a market – how much cash is available at a particular price. If a Cash Out is unsuccessful or partially successful then Betfair will offer you a new Cash Out amount, based on your selection's race position and the prices in the market at that moment in time.
When do I get the money I Cashed Out?
For any amount up to your original stake, you will get the money straight back into your account. If the Cash Out value is more than your original stake, you'll receive the profit when the market has closed (usually within a couple of minutes of the race finishing). For example:
• Bet £50 on Horse A to win
Betfair Auto Cash Out Not Working
• Cash Out currently at £10, will pay £10 into your account immediately (you've lost £40)
• Cash Out currently at £70, will pay £50 into your account immediately, and £20 profit when market closes
Use Cash Out to your advantage
Of course, just because Cash Out is easy to do, it doesn't mean there's not still opportunity for the smart punter to make extra profit, which others may not see. In fact, there is another level to Cash Out entirely.
As Clive Owen points out in the advert below , you can use Cash Out to make money regardless of a result. As he puts it, 'no need to pick a winner – just back an outcome, and if the odds move in your favour, Cash Out, and make a profit'.
You can do this by investing at longer odds, and cashing out when they get shorter – almost like playing a mini stock market. With that said, you can imagine the possibilities for making profit from selections whose odds you are confident will shorten before the off, or before the race is over.
Betting and using Cash Out before a race
Betfair Auto Cash Out
To illustrate this with a racing example: you're looking at a race for the next day, with ten horses listed in the betting. The odds on the fourth-favourite are currently 6.0. However, you think this horse will be tipped heavily in the media on race morning, and so is likely to be well-backed. You bet £50 at 7.0, and sure enough, the odds on your selection shorten to 4.0 the next day. You can now cash out for a small profit, before the race has even started. It can be game of small margins, but if you think your information is good enough, a profitable game – regardless of whether you think the horse you're betting on is actually going to win or not.
Cash Out can work during a race, too, if you think the odds on your selection are likely to improve mid-race. This is where Timeform comes in as an important tool for identifying opportunities to make profit, outside predicting the winner or placed horses in a race. It can also be an exciting, fascinating and profitable way of betting on racing – without ever having to pick a winner.
Using Timeform to predict in-play odds
With Timeform Race Passes, you've got more than one solution at your disposal to try and work this out. In fact, if you're wondering why it's worth paying more for Timeform Race Passes, this is one of the best examples of how Timeform can help you ‘play smarter'.
First of all, there are the Individual Price Hints as seen near the top of the card, which can tell you whether a horse is likely to trade particularly higher or lower during a race than its BSP (Betfair starting price), based on its previous runs. They use data from Timeform's Pace Map to predict how fast a race is likely to be run, and whether that will suit horses who usually run near the front, in the middle, or towards the back of the field – which you can check out yourself before a race (if the Pace Map isn't live yet – usually from the afternoon before the race – you can also see the bare figures on the horse's individual profile, by checking its In Play Symbols for past races).
Added to that, every horse's past performance in both its profile and in race results will list its BSP for that race, and its 'IP Hi/Lo' – the highest and lowest in-play price it traded at, if higher/lower than the BSP.
Cash Out in-play for profit
It might sound complex, but in practice it's very straightforward. For example, you see that a horse is priced at 21.0 on the Betfair Exchange. However, a look at the Pace Map tells you that this horse has an average EPF (early position figure) of 2. The mark is in a dark red box, showing that there is a high probability of this being the case again in the upcoming race.
You place £20 on the horse at 21.0, and when the race goes off, the horse does indeed sit just behind the leader. You wait a couple of furlongs and the horse still looks to be in a good position – and sure enough, its in-play price is gradually shortening. However, the final bend is soon approaching, and you see a couple of the other horses come off the bridle, so with the in-play price now at just 5.0, you cash out for a profit. If the Pace Map has done its work, you've made a profitable bet on a horse that was doing nothing more than losing in the manner it was predicted to.
Of course, this could go either way, but if the pre-race market was accurate it's likely your horse will go on to lose. However, there's always the possibility it could go on to win – in which case you've cashed out for less than you could've otherwise won. That's why it's important to decide in advance on how much profit you're looking to make. Two solutions to this quandary would be to do an Auto or Partial Cash Out – the next part in our series.
We're all familiar with the idea of Cash Out – quitting whilst you're ahead, or cutting your losses and accepting a return before an event has finished. Having said that, many bettors find that the Cash Out option raises more questions than answers.
• You're winning. Do you Cash Out for a small profit whilst the going is good? Or do you let the bet run for maximum payback... But also risk losing altogether?
• You're losing. Do you could cash out for a loss, and live to bet another day? Or keep the faith in your original assessment and hope for a win against the odds?
Fortunately, with the Betfair Exchange there are options available to avoid these dilemmas, and help smart bettors come away with more profit, more often.
Using Auto Cash Out
Part of being a smart bettor is deciding how much you're happy to take away as a win – not to mention knowing how much you're prepared to lose – before an event begins. By having a plan, you can minimise unnecessary risk for yourself, and the unnecessary frustration that results from believing you made the ‘wrong' decision.
Auto Cash Out helps enable this plan of action, by letting you choose the amount of profit you're happy to take from a bet, in advance. To set up your Auto Cash Out:
• Click the dropdown next to the Cash Out button – they grey button with the settings icon
• You'll be given the option to set a profit value at which you would like to Auto Cash Out your bet
• Choose the amount you want, and hit save
If at any point during an event your Cash Out value matches the amount you've set, the Exchange will cash out your bet automatically – you don't even have to be using the app.
And don't worry – if you change your mind about the level of profit you're happy to walk away with, you can click the dropdown again to remove or edit your Auto Cash Out settings.
Using Partial Cash Out
As we're all aware, a simple Cash Out option doesn't always provide the answers. If you're unsure of what's going to happen with your selection – you don't want to walk away with nothing, but you also don't want to lose any chance of a win – you can always choose Partial Cash Out.
It lets you cash out just part of your bet, and leaves the other part of your stake playing. What portion goes where, you can choose yourself.
To cash out part of your bet:
• Hit the same grey button next to the Cash Out button, and select Cash Out Part of My Bet in the drop-down list
Using Timeform to predict in-play odds
With Timeform Race Passes, you've got more than one solution at your disposal to try and work this out. In fact, if you're wondering why it's worth paying more for Timeform Race Passes, this is one of the best examples of how Timeform can help you ‘play smarter'.
First of all, there are the Individual Price Hints as seen near the top of the card, which can tell you whether a horse is likely to trade particularly higher or lower during a race than its BSP (Betfair starting price), based on its previous runs. They use data from Timeform's Pace Map to predict how fast a race is likely to be run, and whether that will suit horses who usually run near the front, in the middle, or towards the back of the field – which you can check out yourself before a race (if the Pace Map isn't live yet – usually from the afternoon before the race – you can also see the bare figures on the horse's individual profile, by checking its In Play Symbols for past races).
Added to that, every horse's past performance in both its profile and in race results will list its BSP for that race, and its 'IP Hi/Lo' – the highest and lowest in-play price it traded at, if higher/lower than the BSP.
Cash Out in-play for profit
It might sound complex, but in practice it's very straightforward. For example, you see that a horse is priced at 21.0 on the Betfair Exchange. However, a look at the Pace Map tells you that this horse has an average EPF (early position figure) of 2. The mark is in a dark red box, showing that there is a high probability of this being the case again in the upcoming race.
You place £20 on the horse at 21.0, and when the race goes off, the horse does indeed sit just behind the leader. You wait a couple of furlongs and the horse still looks to be in a good position – and sure enough, its in-play price is gradually shortening. However, the final bend is soon approaching, and you see a couple of the other horses come off the bridle, so with the in-play price now at just 5.0, you cash out for a profit. If the Pace Map has done its work, you've made a profitable bet on a horse that was doing nothing more than losing in the manner it was predicted to.
Of course, this could go either way, but if the pre-race market was accurate it's likely your horse will go on to lose. However, there's always the possibility it could go on to win – in which case you've cashed out for less than you could've otherwise won. That's why it's important to decide in advance on how much profit you're looking to make. Two solutions to this quandary would be to do an Auto or Partial Cash Out – the next part in our series.
We're all familiar with the idea of Cash Out – quitting whilst you're ahead, or cutting your losses and accepting a return before an event has finished. Having said that, many bettors find that the Cash Out option raises more questions than answers.
• You're winning. Do you Cash Out for a small profit whilst the going is good? Or do you let the bet run for maximum payback... But also risk losing altogether?
• You're losing. Do you could cash out for a loss, and live to bet another day? Or keep the faith in your original assessment and hope for a win against the odds?
Fortunately, with the Betfair Exchange there are options available to avoid these dilemmas, and help smart bettors come away with more profit, more often.
Using Auto Cash Out
Part of being a smart bettor is deciding how much you're happy to take away as a win – not to mention knowing how much you're prepared to lose – before an event begins. By having a plan, you can minimise unnecessary risk for yourself, and the unnecessary frustration that results from believing you made the ‘wrong' decision.
Auto Cash Out helps enable this plan of action, by letting you choose the amount of profit you're happy to take from a bet, in advance. To set up your Auto Cash Out:
• Click the dropdown next to the Cash Out button – they grey button with the settings icon
• You'll be given the option to set a profit value at which you would like to Auto Cash Out your bet
• Choose the amount you want, and hit save
If at any point during an event your Cash Out value matches the amount you've set, the Exchange will cash out your bet automatically – you don't even have to be using the app.
And don't worry – if you change your mind about the level of profit you're happy to walk away with, you can click the dropdown again to remove or edit your Auto Cash Out settings.
Using Partial Cash Out
As we're all aware, a simple Cash Out option doesn't always provide the answers. If you're unsure of what's going to happen with your selection – you don't want to walk away with nothing, but you also don't want to lose any chance of a win – you can always choose Partial Cash Out.
It lets you cash out just part of your bet, and leaves the other part of your stake playing. What portion goes where, you can choose yourself.
To cash out part of your bet:
• Hit the same grey button next to the Cash Out button, and select Cash Out Part of My Bet in the drop-down list
• Choose the amount you wish to cash out. It's that simple
How Timeform can help you play smarter
Continuing from our previous example in the Cash Out Guide, Timeform's in-play symbols, Pace Map, Pace Forecast and Hints might have given you some idea as to how exactly a race is likely to unfold. If you think your horse's odds before a race are likely to decrease during the race, having read up on those clues, you could use Auto Cash Out to set an amount of profit you'd be happy taking away, whilst the odds are in your favour.
In fact, because most races are fairly short in duration, it's a lot easier to use Auto Cash Out than to Cash Out manually – which requires you to watch both the race and the market at the same time!
When to use Auto & Partial Cash Out
You can already see why it's useful to have a plan in place when you make a bet – especially if you're confident you're ahead of the rest of the market. In this example, you can see how Partial Cash Out and Auto Cash Out work in practice, and how they can represent an improvement on your regular options.
Let's say you've backed Horse A to win at odds of 26.0 with a £50 stake, a week before the Grand National. Your potential return for the win is £1300 (minus commission). By the morning of the big race, the field is down to the final 40 horses, your trainer has hit form and the odds on your selection have reduced to 11.0 – you find you're already being offered £200 to cash out.
At this point, you essentially have four options:
1. Let the bet run. It's the only way you can ever get your potential return in full, though you would also lose your stake in full if your horse doesn't win
2. Cash Out in full for the £200, making a £150 profit without any further risk
3. Set an Auto Cash Out level. If you weren't happy with the £200 Cash Out value, you could set an amount of profit you would be happy with – knowing that there's a chance your Cash Out level won't be met, and you'd still lose your stake
Betfair Auto Cash Out Loss
4. Take a Partial Cash Out, reducing your liabilities or removing them altogether, and let the rest of the bet play out for a reduced return
Betfair Auto Cash Outlet
(Of course, the Grand National is a long race in both distance and duration, so if you really wanted to you could always watch the race and the market simultaneously, and Cash Out or Partial Cash Out in-play.)
By choosing option 4, and accepting £50 of your Cash Out, you've now effectively ‘laid-off' your losses – there's no way you can lose overall on this bet, because you've already cashed out the amount of your initial stake. The potential profit on your bet is now reduced by the same ratio – you now stand to win a further £975 if your horse wins the race.
As always, it's a question of betting smart: forming a plan, and deciding how much you want to win, versus how much you can afford to lose.
