betfair cash out option - massive con!!!

now its 1.02 to lay

and betfair cashout id saying its now scratch. WRONG!!!

Noticed that before, I could trade out a bet manually to break even but using the cash out feature I would have lost.

ive always used the cash out and always did think theres a little percentage less that betfair gain...aslong as its green alls good :)

Betfair! as honest as Harry!!!

you stupid cash out mugs just do it yourself ffs

I'd dare to venture that no-one who knows what they're doing uses cashout.

Right on The Investor2. If someone wants to cashout they can make their own decision. only a novice neeeds bet-unfair to tell'em what to do. Cash out =lose out.

Cash
Out
Now

who uses it and why is not the debate mugs, its the fact that betfair are not being honest with the cash out option.

some lad in here always told us to go against cashing out and trade out on your own. Cash out is a farce

yes , whats the problem to cash out ?. on api programms it works fine

Cash out is only for the mathmatically challenged.

ok stephen hawking

I have always seen that it's a lie, so never tried ding it, but thought it was a mistake and if I push the button it would count it normally, apparently not, not that I would ever use that feature though

If you use the cashout, you deserve to lose money.

Sure it's not fair, but it only affects stupid people

it's not a lie, to all the idiots that don't know how to trade or haven't bothered to look things up it's a nice little option for them and i see it as a little betfair charge for the feature

people want to moan about anything and everything bunch of miserable gits

They take out the commission that's why.

Also, I rarely use cash out, I do it myself. Saying that sometimes if I want to cash out quick e.g. my Barca lay when they where 2 down then I cashed out when Messi was taking a dangerous free kick, I use it. And indeed it's a nice feature for those that are not tracings bets as if they're commodities.

The one major positive of the cash out system on Betfair is that you don't have to have any money in your bank to trade.

E.g I have £100 in my bank, I place the £100 on over 2.5 goals in a match. At any point I can still trade out, even though my bank is empty. You can't do that manually. So it has it's uses.

ive always used the cash out and always did think theres a little percentage less that betfair gain...aslong as its green alls good :)




That is possibly the saddest quote on here for sometime

Drsanchez that is nonsense, you can bet against any winnings. You dont have to be ripped off by conout.

How can you bet against winnings if you don't have any? E.g that £100 bet losing at HT 0-0. I can trade out for a loss.

I'm not saying it's right that Betfair take another cut, but for some people it keeps them in the game.

you can trade out for a loss on your £100 liability...obviously

I don't think he understands betfair

He's only been here a year and 8 months, TBF.

Sanchez you can do the same manually :) But continue to use the auto cash out

Fair enough. I understand it enough to get in and out of bets when I need to. I just thought you needed to put in fresh money to offset the lay/back.

I only used the cash out when I was starting a fresh anyway, AGT is far better in the long run.

Shocking lack of knowledge by someone whos been on bf over a year, at least we know mug money is still coming in . . .

cloughandtaylor
28 Jan 12 19:35
Joined:
22 Jun 08
| Topic/replies: 1,860 | Blogger: cloughandtaylor's blog
ive always used the cash out and always did think theres a little percentage less that betfair gain...aslong as its green alls good :)




That is possibly the saddest quote on here for sometimeSad


really? read some more threads then fella. not even top 10000 that one

how can you get cash out on other sports  please

there really is no hope for some people is there

lol at the pic Coatsy posted, could write to Watchdog

Cashout is so bad it's amazing.

I'm not against it in principle, on the contrary it's a great idea for beginners or people who don't care to waste their lives on betfair, it's just a good idea.

But how could they get a good idea so wrong?

Jan 28, 2012 -- 8:22PM, the big bossman wrote:

how can you get cash out on other sports

just go and download "backandlay" it's a free back/lay calculator which gives you the exact amounts you need to use to green equally etc

like i aid earlier it's a good little service to people that don't know how to trade so betfair take a little percentage for offering it. to anyone that knows how to trade or has the brain to use a back/lay calculator i don't see why you would be moaning about it, grumpy gits

thanks but you get cash back on mobile

thanks but you get cash back on mobile

Betfair don't take a cut. The reason it doesn't add up is because the amount it shows your potential green/red at isn't based on the latest price, e.g. 1.03, it's based on the next price after that, say 1.04 or higher. They do that because your cashout would fail if somebody gobbled up the last remaining money at 1.03 whilst your cashout was processing, so you know the minimum amount you'd make when you hit the button.

If the 1.03 is still available when the bet goes through, which in most cases it is, you'd be paid based on the 1.03, so you'd actually make more than what it said on the screen.

Obviously manually greening gives you more control, but cashout isn't the big con people think it is.

"They do that because your cashout would fail if somebody gobbled up the last remaining money at 1.03 whilst your cashout was processing, so you know the minimum amount you'd make when you hit the button"

Complete rubbish. What if a big bet goes through and takes out the next price? It isnt guaranteed at all. Especially in an illiquid market, you could well find yourself not matched if what you say is correct!