One of the most common uses of the Betfair Exchange is to cash out a sportsbook bet that’s potentially lowered in price and given you a positive cash out on the bet. It’s a very simple concept to implement when you’ve managed to beat the starting line on a particular Sportsbook bet.
For example, you could back a selection when the odds are first priced at 2.20, during the next few days in the lead up to the match, their price could drop due to a number of different factors. Let’s say you placed £10 on the selection at 2.20 and it’s now dropped to 1.40, you’d be offered a very generous cash out of around £15 on this bet. These factors include team news, market movements due to stakes and an incorrect original pricing.
One way of ensuring you’ll make a profit on your original sportsbook bet, is to lay the selection at the now lower odds on the Betfair Exchange. It’s a rather simple way of beating the movements of the price and ensuring that whatever the outcome of the initial bet, you’d still profit overall on this match.
A few of you may be wondering how often this happens and is it possible for me to start taking advantage of bookmaker mistakes and inside information. Whether you’re new to betting or a seasoned professional, inside information or beating the starting line is an imperative to successful gambling and trading.
Using the Exchange to cash out a Sportsbook bet is becoming more and more popular as it’s giving punters the opportunity to profit without worrying about the result of the match. It’s a similar process to what I discussed in the matched betting article and features the same endpoint, a position where you aren’t risking your stake and are still profiting.