Hello can I ask you somenthing, please?
Many bookmakers have the cash out button (Bet365 for example), but how this button work?
For example the odds in the bookmaker , they don't move so much as the odds in the betting exange
So I was wondering : if I bet 300$ on a tennis player and the odds stay pretty the same (in the bookmakers the odd don't move so much), will I be able to scalp?
Can you share your experience with the cash out button in the bookmakers?
https://en.help.pinnaclesports.com/en/s ... out-option
Bookmaker/Pinnacle cash otu button
Bookmakers probably introduced cash-out to give their customers a similar option to exchange customers but their margins will be much greater than on the exchange.
For example, if you back something on the exchange at 4.5 and the price doesn't change you can 'cash-out' by laying at 4.6, making a small loss.
If you place a bet with a bookie at 7/2 and the price doesn't change, the cash-out odds might be 4/1, so you will lose a good percentage of your bet.
A bookies overround can be considerably higher than 100% unlike the exchange, so I wouldn't try to use it for trading. Scalping obviously involves trading for a slightly better price, whereas a bookie will always offer cash out at a significantly worse price.
For example, if you back something on the exchange at 4.5 and the price doesn't change you can 'cash-out' by laying at 4.6, making a small loss.
If you place a bet with a bookie at 7/2 and the price doesn't change, the cash-out odds might be 4/1, so you will lose a good percentage of your bet.
A bookies overround can be considerably higher than 100% unlike the exchange, so I wouldn't try to use it for trading. Scalping obviously involves trading for a slightly better price, whereas a bookie will always offer cash out at a significantly worse price.
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ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
"Cashotu button" is actually Japanese for "Cash out button"
Luca you don't have to cash out. You could back Player B and that would have the same effect.
It is almost the same idea as you learned when you asked for information about cross matching Betfair cross matching explained. In a 2 winner market like tennis, 1 is the opposite of the other.
Eg.
Back Player A : £500 @ 1.74
Back Player B : £300 @ 2.9
Player A wins : + 370 - 300 = +70
Player B wins : + 500 + 570 = +70
As Derek says, you will always be fighting against a wide spread with the bookmakers but by using different bookmakers you might reduce that problem.
Get a copy of Excel and start to work these out, then you will be able to calculate the size of the 2nd bet. I could give you the formula, but you will learn a LOT more if you work it out yourself.
To get you started : Odds = 1/%Chance therefore Chance% = 1/Odds
So if Player A = 1.25 ... 1/1.25 = 80% chance, Player B = 1/20% = 5.0
Luca you don't have to cash out. You could back Player B and that would have the same effect.
It is almost the same idea as you learned when you asked for information about cross matching Betfair cross matching explained. In a 2 winner market like tennis, 1 is the opposite of the other.
Eg.
Back Player A : £500 @ 1.74
Back Player B : £300 @ 2.9
Player A wins : + 370 - 300 = +70
Player B wins : + 500 + 570 = +70
As Derek says, you will always be fighting against a wide spread with the bookmakers but by using different bookmakers you might reduce that problem.
Get a copy of Excel and start to work these out, then you will be able to calculate the size of the 2nd bet. I could give you the formula, but you will learn a LOT more if you work it out yourself.
To get you started : Odds = 1/%Chance therefore Chance% = 1/Odds
So if Player A = 1.25 ... 1/1.25 = 80% chance, Player B = 1/20% = 5.0
Are you talking about pre-play or in-play ?? Do bookmakers do in-play tennis betting?Lucacrebbe wrote: ↑Sun Apr 01, 2018 3:31 amFor example the odds in the bookmaker , they don't move so much as the odds in the betting exange
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Autolearner
- Posts: 49
- Joined: Sat Mar 11, 2017 4:28 pm
On a related question, does the "auto cash out" facility on the mobile app versions of Betfair contain any implications for lower margins?
I have been experimenting with a bit of Dobbing, and if I back at say £2 @ 6.0, and set up the lay for £4 at 3.0 on a horse I think will shorten, and then keep all it is quite a few key strokes. (I realise far fewer in BA, but sometimes mobile is all I have with me)
Because I am still (very much!) learning I prefer to do it this way. But I could do the auto cash-out if profit meets £2 which should have the same effect? I just wondered whether doing it this way has any implications for reduced margins?
Apologies if this is a dumb question
I have been experimenting with a bit of Dobbing, and if I back at say £2 @ 6.0, and set up the lay for £4 at 3.0 on a horse I think will shorten, and then keep all it is quite a few key strokes. (I realise far fewer in BA, but sometimes mobile is all I have with me)
Because I am still (very much!) learning I prefer to do it this way. But I could do the auto cash-out if profit meets £2 which should have the same effect? I just wondered whether doing it this way has any implications for reduced margins?
Apologies if this is a dumb question
https://betting.betfair.com/betfair-ann ... 217-6.html
I've never used cash out but as far as I can see setting a cash out profit of £2 would be exactly the same as laying at 3.0 if the price gets there.
I've never used cash out but as far as I can see setting a cash out profit of £2 would be exactly the same as laying at 3.0 if the price gets there.
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Autolearner
- Posts: 49
- Joined: Sat Mar 11, 2017 4:28 pm
Thanks for the confirmation Derek
I have thus far avoided using auto cash out for two reasons
1) as stated previously am just trying to drum into myself the mechanics involved so find doing it "old school" with separate back and lay bets helps reinforce things for me
2) perhaps more importantly, while using auto-cash out as described above should work fine if I only ever intend to work on one selection in a given market, it will presumably not work properly for multiple selections (as I am assuming the profit is per market not per selection?)
However for occasions when I am time limited, and only intend one selection, I might explore use of auto cash-out. Thanks again for the help
I have thus far avoided using auto cash out for two reasons
1) as stated previously am just trying to drum into myself the mechanics involved so find doing it "old school" with separate back and lay bets helps reinforce things for me
2) perhaps more importantly, while using auto-cash out as described above should work fine if I only ever intend to work on one selection in a given market, it will presumably not work properly for multiple selections (as I am assuming the profit is per market not per selection?)
However for occasions when I am time limited, and only intend one selection, I might explore use of auto cash-out. Thanks again for the help