Betfair launches auto cash out feature

Business News

Betfair customers can now use the Auto Cash Out feature on the Exchange. This means that punters will now be able to lock in a profitwithout actually having to go through the motions of getting online for pulling out your mobile device at the right time to make it happen.

Instead, you can set up an Auto Cash Out once you have placed a matched bet on the exchange. In doing so you will be taking what is known as an ‘active cash out position’ on markets within the Exchange.

The feature will simply allow a customer to set their own cash out profit level, which will lock in a guaranteed return for the wager. Sop you will be able to determine what profit you would like to take from a bet and once the selection gets to a price on the exchange that would return that set profit, the Auto Cash Out would be initiated.

You will see an option for the Auto Cash Out on a bet receipt or you can press the drop-down menu next to the Cash Out button and there you will be given the option to set a profit level. Your profit value can be set to any positive figure between your current Cash Out position and your maximum profit on the market. You can remove an Auto Cash Out rule by re-opening the dropdown and clicking the remove button.

Betfair has released the Auto Cash Out following a successful trial with select UK and Ireland players.