Cash out charge?!?!

[Hooch]

Sorry if this is in the wrong place.

Just something I've heard people mention before, but do Betfair charge customer s when they use the cash out feature on the website?

I do know know the green out is always higher with betangel than on the Betfair site.

[spreadbetting]

Could be down to the fact Betfair take into account liquidity whereas BA would probably calculate on the best odds regardless of available liquidity. Betfair also seem to use the most inefficient methods to close any bets too when I've looked at closing on the site.

[weemac]

There's no charge, but it's intrinsically designed to make betfair money at your expense.

[Derek27]

Unless anything has changed since the feature was introduced, a percentage of the cashout bet gets placed on the second and third best price to increase the likelihood of a successful green-up. If the adverts are anything to go by it's aimed at recreational punters who are clueless about value and just want to grab a profit.

[ANGELS15]

One other point I've noticed about cashout (at least on the mobile site) is that lately it can be very difficult to execute. I've had many instances where I keep trying to cashout (horse 20 lengths clear) and keep getting the message 'cashout unsuccessful' after trying 6 or more times. Another feature on the mobile app for cashout is that you can specify your profit for it to cashout, this does seem to work a little better.

[JTEDL]

It works ok when I've used for football and tennis, but not tried on in running racing.

I did a test a while back on the 'auto cash out' function on football and it did cash out at a higher green than I entered after a goal and suspension.

No stop loss option though!

[ShaunWhite]

One other point I've noticed about cashout (at least on the mobile site) is that lately it can be very difficult to execute. I've had many instances where I keep trying to cashout (horse 20 lengths clear) and keep getting the message 'cashout unsuccessful' after trying 6 or more times.

That's just because the market has changed, that's going to happen in-play. I tried the autocashout for a while, leaving the closing trade to be done by the bf servers rather than me submitting a close and tbf it was fine, some worse some better. I certainly didn't detect a conspiracy like some suggest.

[mathew3]

I don't know much about the charges. But I would like to learn.

[ShaunWhite]

I don't know much about the charges. But I would like to learn.

It's always wise to read all the Ts&Cs when money is involved. https://www.betfair.com/aboutUs/Betfair.Charges/#