We are pleased to announce we have improved the Exchange Cash Out product for all non-Racing sports. We appreciate that when markets are in-play it is frustrating to be sometimes told your Cash Out attempt has been unsuccessful due to price movements.
In order to increase the chance of an in-play Cash Out request being successful we have slightly modified how the Cash Out offer is calculated. We still apply 'best price execution' when a Cash Out is attempted so you can be reassured you are still getting the best possible value available.
We anticipate being able to make this improvement available to in-play Racing markets in the near future.
What exactly has changed?
We now display a Cash Out offer based on the second best available price rather than the first. When Cash Out is selected:
1. If there is no price movement, it is executed at the best price available and you receive a better Cash Out than the offer.
2. If there is price movement of one tick, Cash Out is executed at the value that was offered.
3. If there is price movement of more than one tick, Cash Out is messaged as unsuccessful and you have the opportunity to re-try.
A worked example
1. A £10 back bet is placed @ 2.111/10 on Elina Svitolina in her match against Danila Gavrilova. P&L values illustrate there will be an £11.00 profit if Svitolina goes on to win the match.
2. Cash Out is selected when an offer of £14.27 is presented for £4.27 profit. The offer is calculated assuming a lay bet at a backer's stake of £14.32 is placed at value of the second price box, i.e. 1.4740/85. The liability for this bet would be £6.73 and therefore the Cash Out profit is displayed as £11.00 - £6.73 = £4.27.
3. After the five second in-play bet delay, and at point of Cash Out, the best lay odds available are 1.454/9. Cash Out is executed at that price.
4. Cash Out is confirmed as being successful. In this case a lay bet at a backer's stake of £14.38 was placed at 1.454/9. The liability for this bet is £6.47 and therefore the Cash Out profit is displayed as £11.00 - £6.47 = £4.53 if Svitolina is successful, and £14.38 - £10.00 = £4.38 if Gavrilova is successful. In both cases the profit is higher than the original offer of £4.27 because Cash Out has been executed at the best available price.
5. The original back bet, and lay bet placed as a consequence of the Cash Out, are illustrated below.
6. Svitolina went on to win the match and therefore a profit of £4.53 before commission is realised. This is confirmed in the P&L section of My Account.