Help Betfair cash out

Community General Discussion Help Betfair cash out

  • This topic has 4 replies, 4 voices, and was last updated 11:09 am , 10/09 by Rox.
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  • #10787
    Andia
    Member

      Hi all

      A bit of a strange question but I’ve messed up (not major ) but placed a bet with William Hill on a basketball result which I didn’t check properly and it finished in 2020. My lay on betfair took over £50 in liability, I decided I needed this more than a £5 bet so cashed in on betfair early. I now have 2 bets showing matched – a lay (the original, and a back for the same one) and the money has been released into my betfair account even though there is showing a liability ????? Any experiences of this, am I thick?, not that worried as event is a long way off but would like to understand what I’ve actually done and why lol? 

      Thanks for any tips. Andia 

      #10789
      L0U
      Member

        Hi Andia,

        If both the lay and back bets have matched and the money is back in your balance, then you are fine 🙂

        There is a ‘consolidate’ tickbox on bottom of the betslip which should show the sum of the liability and the backing returns for a market (in your case, £0.00), if you ticked it.  This mode might make a bit more sense hopefully?

        Regards,

        Lou

         

        #10796
        Andia
        Member

          Hi Lou

          Thanks for your quick reply. The 2 selections are showing in open bets (on right in list) and there is liability of £52 but the consolidate tick was wasn’t ticked. I have now ticked it but nothing appears to have changed – no panic. 

          I just can’t understand why when cashing out it has created a back bet and still shows a lay bet?? 

          I know I am new and some people probably should say I shouldn’t be attempting to play around until I grasp the whole betting concept but I have to start somewhere and am only playing with small amounts of money at the moment. I guess (and know through friends ) that a lot won’t attempt match betting until they are fully clear on all the whole thing but this seems such a friendly community and I am happy to share my experiences for others – good and bad lol. 

          But thanks Lou for replying – I’m guessing it is all ok now. I have to say I think I messed up tonight again on a risk free bet but am happy to see how it turns out in the end – I am now logging everything in a special diary so will have some sort of journal to refer to in future. I’m still a bit concerned with list of bookmakers in the price matcher and have been using ladbokes usually if the correct one is not listed – I’m guessing this is mostly fine ? 

          Kind regards Andia

          #10797
          mikeysport
          Member

            Your ok , you just need to wait till basketball bet at hills as finished.

            What you done on betfair is like a trade out and close without knowing.

            mind your mistakes [measure twice cut once]

            #10806
            Rox
            Member

              You are very wise Mickey! I am terrible for rushing ahead and doing somin daft and then wish I had taken the time. If I had a pound for every time I did that! hehe

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