As many of you will likely already be aware, bet365 have fairly recently released a slider to accompany their already popular cash out system. You may also be aware that I’m a big fan of the cash out feature in general, as you can see from my cash out review.
I wanted to create this article to show you exactly how the slider works. I keep up to date with a lot of betting forums and there are so many people who don’t understand the way the slider works in relation to cashing out bets.
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How does the slider work?
The slider has been designed to allow you to cash out a percentage of your bets. Instead of having the option to take the given cash out amount on offer for the whole bet, you can now choose to cash out a percentage of your stake and let the rest of your stake run.
There is a key word in that above paragraph, and that is STAKE.
Many people are getting confused with what the slider actually does. The slider has been designed to cash out a partial amount of your original stake and then let the remaining amount of your stake run.
Let’s say you place a £10 bet at odds of 10.0 and your total winnings for that match would be £100 if it were successful. Half way through that match your selections are winnings and bet365 are currently offering you £50 for your total cash out.
The slider means that you can now move the stake about to cash out an amount of your original stake. Let’s say that you decide to cash out £25 of the £50 that has been offered and to let the rest run. As this is half the cash out amount, the other half of your stake (in this case, £5) will still be in play.
As you still have £5 of your stake remaining, the most you can win from the second half of the best will be £50 (half your original stake with the same opening odds of 10.0).
If your bet goes on to win, then you will get the remaining £50 from the bet that you decided to let run, plus the £25 that you already cashed out half way through.
If your bet goes on to loose, then you will only get the £25 that you originally cashed out and you would lose your remaining stake that you decided to let run half way though.
Step by step guide
- Place your bet on bet365 and navigate your way to the ‘My Bet’s tab in the right hand sidebar.
- Before the game has kicked off, you will see that the cash out value is 5% less than the original stake even though the game hasn’t started. This is because 5% is the cut that bet365 take should you wish to use this feature.
- Click the slider button to bring up the slider then drag the slider to the desired amount you want to cash out.
- The slider will signify the stake you want to cash out and the amount that you want to let run. Find the amount and click ‘Cash out’.
- The box will turn yellow and ask you to confirm. Click confirm and it will show you how much you have cashed out and then how much you have remaining along with new potential winnings.
- Click the ‘Cash out history’ box to see previous cash out amounts.
As you know, the cash out feature is a great addition to bet365 and is one of many reasons why I love the bookmaker.
The slider adds another dimension to an already brilliant feature. I love the fact that you can select to cash out a percentage of your bet and then leave a portion of it to run. It’s very difficult to cash out a bet before time in my experience; especially if you have a good 5-team acca that’s all winning as the lure of the big payday is often too much!
But, the slider means that you can seal a profit and still let a good chunk of the bet ride out with your initial instincts for those selections. After all, you’re never going to bet on anything that you thought had no chance to start, right!?
Many people have likened this to Betfair or other betting exchanges, and it’s true, they do have the same concepts as to backing and laying a result. But, if you’re an accumulator bettor, it’s virtually impossible to set up a ‘Lay’ on a betting exchange to cover multiple outcomes. The slider allows you to just that, and in seconds.
The one thing that niggled me is the fact the bet365 haven’t done a great job in explaining how it works in my opinion. I’ve seen people go over the terms and conditions page for the slider and still come away very confused as to how to it works. In fact, that was pretty much the sole reason as to why I decided to write that article.
You’ve also got to be aware that bet365 take 5% of your cash out price and whilst this is factored in before you see the price that you get, it’s again something bet365 aren’t all that keen for you to know.