Betfair Cash out, can be clicked more than once?

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sussex1200
Posts: 2
Joined: Sun Jan 03, 2021 9:17 pm

Hello all,
I am new to Betfair, and am trading on football only. Mainly Back and Lay, taking advantage of the price rises and decreases.

I often use Cash out once i have got about 10% profit, so cash out to secure the profit.

When you use the Cash Out feature on the Betfair exchange, it sometimes comes up again after you have just cashed out....why does this happen?....I assume i am correct in that when you cash out you only have to click the cash out button once?

I have noticed that you can click it again, which i have done as its green as in profit again.

Although when looking through the Account Statement it can seem pretty confusing in the way its all listed out.

Thank you
Tetras
Posts: 144
Joined: Tue Nov 03, 2020 8:23 pm

I don't know with football, but for racing it's usually just a small re-adjustment (even pennies) based on movement, since it can still leave a small amount 'in-play' on your selection. It depends how active the market is, but if you look at your position, you can see if the amounts are equal for each outcome.
JTEDL
Posts: 536
Joined: Wed Aug 23, 2017 2:21 pm

There's a bit of lag on the Betfair cash out in play, so will sometimes green at uneven amounts, so as said you can click again to even up the green.
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ANGELS15
Posts: 844
Joined: Wed Mar 22, 2017 9:57 am

Be wary of Betfair cashout. I often use Betfair to do manual back to lays on racing, particularly if I'm away from my computer. This may occasionally consist of a small back bet with a lay bet at low odds like 2.22 or even odds on. I do this on occasions when I think the horse has a very good chance.

I've lost track of the times I've had a huge cashout offer appear frantically clicked cashout then got the message 'cashing out, cashing out....your cashout has been unsuccessful, repeated a few times with the same result only to lose the opportunity. One time I remember a big priced runner was a distance clear I must have tried about 5 times to cash out (unsuccessfully) over a 30 second period only for the damn thing to get collared in the last 50 yards.

I find it far better to set it up in automation if possible, or if doing it manually include a couple of lay bets set to 'keep' in-play.
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ANGELS15
Posts: 844
Joined: Wed Mar 22, 2017 9:57 am

Further to my above post, I have had odd occasions when I've frantically tried to cash out without success and the horse has won anyway so I've ended up saving a few quid.
Tetras
Posts: 144
Joined: Tue Nov 03, 2020 8:23 pm

ANGELS15 wrote:
Wed Jan 06, 2021 10:14 pm
Be wary of Betfair cashout. I often use Betfair to do manual back to lays on racing, particularly if I'm away from my computer. This may occasionally consist of a small back bet with a lay bet at low odds like 2.22 or even odds on. I do this on occasions when I think the horse has a very good chance.

I've lost track of the times I've had a huge cashout offer appear frantically clicked cashout then got the message 'cashing out, cashing out....your cashout has been unsuccessful, repeated a few times with the same result only to lose the opportunity. One time I remember a big priced runner was a distance clear I must have tried about 5 times to cash out (unsuccessfully) over a 30 second period only for the damn thing to get collared in the last 50 yards.

I find it far better to set it up in automation if possible, or if doing it manually include a couple of lay bets set to 'keep' in-play.
What I do is press the auto cash-out button and type in "0." (I think even . or 0 is enough) and then hit save. It's still too slow sometimes and certain days or races it seems to take forever, but it is better than mashing the button.
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ANGELS15
Posts: 844
Joined: Wed Mar 22, 2017 9:57 am

Tetras wrote:
Wed Jan 06, 2021 10:26 pm
ANGELS15 wrote:
Wed Jan 06, 2021 10:14 pm
Be wary of Betfair cashout. I often use Betfair to do manual back to lays on racing, particularly if I'm away from my computer. This may occasionally consist of a small back bet with a lay bet at low odds like 2.22 or even odds on. I do this on occasions when I think the horse has a very good chance.

I've lost track of the times I've had a huge cashout offer appear frantically clicked cashout then got the message 'cashing out, cashing out....your cashout has been unsuccessful, repeated a few times with the same result only to lose the opportunity. One time I remember a big priced runner was a distance clear I must have tried about 5 times to cash out (unsuccessfully) over a 30 second period only for the damn thing to get collared in the last 50 yards.

I find it far better to set it up in automation if possible, or if doing it manually include a couple of lay bets set to 'keep' in-play.
What I do is press the auto cash-out button and type in "0." (I think even . or 0 is enough) and then hit save. It's still too slow sometimes and certain days or races it seems to take forever, but it is better than mashing the button.
That's interesting. The only thing though won't you be cashed out automatically if the profit was say £1? Another thing I've done is to set a target profit of say 1/2 what the expected profit would be which offers some kind of compromise and as you say is far more reliable than bashing the button.

At the end of the day manual cash out is never going to be reliable in fast moving markets like racing. Far better to use automation.
Tetras
Posts: 144
Joined: Tue Nov 03, 2020 8:23 pm

ANGELS15 wrote:
Thu Jan 07, 2021 11:47 am
Tetras wrote:
Wed Jan 06, 2021 10:26 pm
ANGELS15 wrote:
Wed Jan 06, 2021 10:14 pm
Be wary of Betfair cashout. I often use Betfair to do manual back to lays on racing, particularly if I'm away from my computer. This may occasionally consist of a small back bet with a lay bet at low odds like 2.22 or even odds on. I do this on occasions when I think the horse has a very good chance.

I've lost track of the times I've had a huge cashout offer appear frantically clicked cashout then got the message 'cashing out, cashing out....your cashout has been unsuccessful, repeated a few times with the same result only to lose the opportunity. One time I remember a big priced runner was a distance clear I must have tried about 5 times to cash out (unsuccessfully) over a 30 second period only for the damn thing to get collared in the last 50 yards.

I find it far better to set it up in automation if possible, or if doing it manually include a couple of lay bets set to 'keep' in-play.
What I do is press the auto cash-out button and type in "0." (I think even . or 0 is enough) and then hit save. It's still too slow sometimes and certain days or races it seems to take forever, but it is better than mashing the button.
That's interesting. The only thing though won't you be cashed out automatically if the profit was say £1? Another thing I've done is to set a target profit of say 1/2 what the expected profit would be which offers some kind of compromise and as you say is far more reliable than bashing the button.

At the end of the day manual cash out is never going to be reliable in fast moving markets like racing. Far better to use automation.
Yes, it would cash out for £0. It's a risk since it just takes the current price, but it hardly ever happens to me when it's functioning normally. There's a few races I get a 4 or 5 second delay and then yeah, sometimes I get 10 pence or something.
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