Sportsbet introduce cash out

[TheExtractorFactor]

http://www.sportsbet.com.au/blog/home/awesome-new-features-cash-sports-multipick?intcmp=RT|14317

 

[GROTTO]

46 views and no comments.

Alright, my thoughts is that it does have a place in punting, but you need to exercise caution when opting for the cash out and making sure you are doing it for the right reasons, because in the long run being careless by taking cash out consistently only because its the last leg of the multi is going to end up you losing a lot of money and value in the long run.

 

[Lensen]

That's probably the most astute thing you've ever posted grotto

 

[banana_bus]

Can somebody please give a basic summary of how this works? (don't want to go to sportsbet.com.au on my work computer).

 

[iluvparis]

tldr

If you have a bet where the price has moved in your favour, the cash out function will automatically put enough on the other results so that you lock in whatever arbitrage profit you could generate at the current price.

 

[banana_bus]

Thanks ilp.

This wont work for multis will it?

Also, if you make a s**t bet that eases in price - can you cash out for a small loss?

 

[Anzac16]

Thanks ilp.

This wont work for multis will it?

Also, if you make a s**t bet that eases in price - can you cash out for a small loss?

It will work for multi's as long as all selections qualify under the cash out scheme.

And yes you can cash it out at any time, whether for a loss or a profit.

 

[banana_bus]

It will work for multi's as long as all selections qualify under the cash out scheme.

And yes you can cash it out at any time, whether for a loss or a profit.

Doesn't seem to be working for me then. I'll have to give them a buzz tomorrow.

 

[TheExtractorFactor]

Doesn't seem to be working for me then. I'll have to give them a buzz tomorrow.

Were you tring it on the website or the mobile app? It only works on the full desktop website from what Ive seen

 

[banana_bus]

Were you tring it on the website or the mobile app? It only works on the full desktop website from what Ive seen

Main website, but on my phone.

 

[GROTTO]

Doesn't seem to be working for me then. I'll have to give them a buzz tomorrow.

It does for some multi's and not others. Someone may explain why that is?

I have India in one leg of two multi's. I can cash out in one but not in the other.

 

[Anzac16]

It does for some multi's and not others. Someone may explain why that is?

I have India in one leg of two multi's. I can cash out in one but not in the other.

I'd assume that it's because all legs of the multi need to have been eligible under the cash out scheme. You can tell by the cash symbol next to the market.

 

[GROTTO]

I'd assume that it's because all legs of the multi need to have been eligible under the cash out scheme. You can tell by the cash symbol next to the market.

In one multi, I had 3 soccer games and the cricket - cash out accepted, in the other I had 2 cricket games and 2 soccer games - cash out denied.

Ahhh I think I have got it, thanks for questioning me. This could be it, in one multi, it is the first leg of a multi - ie cash out allowed. 2nd multi it is the final leg of the multi, no cash out allowed. Im guessing this is the reason. Unless someone knows exactly for sure???

 

[TheExtractorFactor]

There is a little cash out symbol which appears on the betslip with eligible selections. This needs to appear on all selections of the multi for cashout to apply

 

[A11dAtP0w3R]

I only plan on backing the Western Conference winner to cover my bet on Chicago in the Finals (if I make it that far) with this bet but why isn't there a 'cash out' (no im not cashing out, Bulls will roll Cleveland) feature on my bet? Im just interested to know what sort of return they offer for bets such as mine with the price differential. ($13 when I took it, now $8.50)

You will notice the 'Cash Out' feature and logo on the NBA Championship market yet there is no option on my pending bet.

Anyone with any clues why not?

(Excuse the ******ed layout of screen shots, im on the ridiculous work computer powered by Windows )



(and now Sportsbet is down for an upgrade so will post screen shot of my pending bet with no cash out feature tomorrow FFS)

 

[Jugada]

Did it have a cash out option when you first backed it?

 

[A11dAtP0w3R]

Did it have a cash out option when you first backed it?

First things first, Bulls up 1-0 win in Cleveland

Didnt take any notice to be honest.
It was before the playoffs started so maybe they didnt offer that on all in markets pre playoffs? Thats the only thing i can think of.

 

[caboose]

Pfft. Why would anyone be using Sportsbet for this purpose instead of Betfair?

 

[Lensen]

Pfft. Why would anyone be using Sportsbet for this purpose instead of Betfair?

Not having to call?

 

[BloodRet]

Do they send the card out to you for free in the post?

 

[caboose]

Not having to call?

?

Admittedly, I rarely use Sportsbet any more ... but you can bet online there at times when you can't on Betfair?!

Or even have the option of pre-placing a 'keep-in-play' bet at the price you want, for that matter?

 

[Lensen]

?

Admittedly, I rarely use Sportsbet any more ... but you can bet online there at times when you can't on Betfair?!

Or even have the option of pre-placing a 'keep-in-play' bet at the price you want, for that matter?

The "cash out" in play is deemed an early settlement not a live bet thus can be done on the net

 

[caboose]

The "cash out" in play is deemed an early settlement not a live bet thus can be done on the net

Ok, extremely interesting, thanks.

I can't see how it's not breaching Australian law if they're allowing that to happen in-play tbh. Which would be the only technical difference to Betfair. Not to mention that the odds are usually substantially better on Betfair than Sportsbet.

You can still also pre-place your bet at a specified target price on Betfair as well, if you want to arb an event - rather than take your chances with tight, in-play odds at Sportsbet in any case if your only concern is simply having to make a phone call.

 

[A11dAtP0w3R]

Pfft. Why would anyone be using Sportsbet for this purpose instead of Betfair?

What a weird post, who said anything about using Sportsbet purely for this purpose anyway?

Tell me more Mr. Betfair representative!

 

[A11dAtP0w3R]

Ok so that is my bet.

Am I just blind and its right in front of me?

Is the Cash Out feature located somewhere else? If so where does it come up?