Betfair Introduces Auto Cash OutJake Cooper | 09 Mar 2018
British online betting operator, Betfair has officially launched its exciting new “Auto Cash Out” function in Ireland and the United Kingdom. This revolutionary feature allows punters to preset an amount at which winnings will automatically be cashed out.
This comes after several months of extensive Beta trails with selected players from the UK and Ireland as well as the operator’s one overseas market, Australia.
Auto Cash Out vs. Normal Cash Out
The Auto Cash Out feature is essentially an upgrade on the existing standard Cash Out option, which already has been popular with users for a number of years.
By selecting the Standard Cash Out option, bettors can choose between minimising losses, if they suspect their chosen horse or football team will start out well but choke toward the end of the game, and taking an early profit, if they expect their chosen candidate is going to win. The standard cash-out value is calculated in real time, while the event is in progress, during which time punters can choose to cash out this value or see the wager through. They must log into the Betfair site in order to do this.
What makes the Auto Cash Out feature unique is that users can select it in advance of the event starting. Bettors simply choose an active Cash Out point when they place their wagers, prior to the commencement of the race or match. In other words, users decide how much profit they would be happy to settle for and the system automatically cashes this out if and when this amount is reached. Because it is done in advance, players do not need to log in during the event in order to utilise it.
Wagers are placed on the Betfair Exchange and, once they are verified as matched, punters are given the opportunity to create and lock an Auto Cash Out amount. As mentioned, this figure is the minimum amount of profit that the user is comfortable with cashing out if they win. While this may prevent users from cashing out any more than the amount they have preselected, it ensures that profits exceed that amount and then drop later on.
It should be noted that Auto Cash Out is only available on selected eligible markets.
And, if you change your mind about the Auto Cash Out value or want to cancel it completely before the event begins, you can simply select the “Remove” button.
Greater Flexibility and Profit Potential
Commenting on Betfair’s latest innovation, a company representative told SBC that the new feature is part of Betfair’s ongoing mission to improve the user experience and offer punters as much control over their wagers as possible. The representative explained that Auto Cash Out is a great option for a punter in the know, who is fairly sure that their chosen team or horse tends to send up potential profits by starting strong, but ultimately loses the day at the last minute.