Betfair punters Cash Out in their droves on Ryder Cup
Betfair customers turned to 'Cash Out' in big numbers over the weekend to take advantage of the huge price movements seen during the Ryder Cup, analysis has shown
The Cash Out product - which allows customers to lock in a profit or minimise their losses at the click of a button - is now available in the market view.
More than 1,500 'Cash Outs' were placed on Ryder Cup markets on Saturday and Sunday as customers took advantage of the price movements that saw Europe matched at a high of [27.0] in the Winner market and the Correct Score (14.5 - 13.5) matched at [46.0].
In total, more than 80,000 Cash Outs were placed over the weekend, with football markets the most popular for customers wanting to trade out.
Cash Out, which launched in February 2011, does the calculations for customers allowing them to lock in a profit or reduce their exposure on a market without having to trade manually. This particularly helps customers who may not be familiar with Betfair's Exchange.
Mike Woodbridge, Sports Product Manager at Betfair, said: "The primary purpose of Cash Out is to show trading functionality to customers who wouldn't ordinarily trade on the Exchange and how enriching an experience that can be beyond that which you'd get at a competitor product.
"However, while we like showing these tools to new customers it's also a feature that is beneficial to our more 'sophisticated' customers as it automatically removes the need for calculation and manual bet placement by rolling the process up into the a single click of a button.
"The recent improvements we have made to Cash Out will allow more customers than ever to take advantage of the unique benefits of the Exchange."