Quote:
Originally Posted by theshocker7
on a side note, i did a 3 match tennis bet £150 to win £305, after i put it on i could cash out £147 before it started...
Novak wins the first game but now i can only cash out £130, how does that work?
quick PSA, the cashout thing was pioneered by Betfair as a means of encouraging more volume (their cashout function simply lays off the requisite amount of your outstanding bet at the best available market odds) but has since become so popular that most online bookies now offer a cashout option. However, most bookies don't have a LAY option so they're not offering the same thing; they're just offering to buy out some of their own liabilities at a discount price, safe in the knowledge that most punters are ****ing idiots and won't realise they're getting ripped off.
Cliffs: rarely, if ever, avail yourself of the cashout option from a traditional bookie as you'll almost always get better value laying off on exchange.