Using Bet Angel’s cash-in tool to lock in a profit, by PETER WEBB of Bet Angel.

How would you like to turn a profit on a sport event regardless of who wins?


The concept

If you look at any betting market odds tend to fluctuate a fair bit. By laying the same stake at a lower price that you back at you can ‘lock in’ the difference between the odds for a profit, regardless of who then goes on to win the underlying event.

Horse racing

Perhaps you can see a lot of money coming for a horse and fancy backing the big gamble. By backing and laying the same selection at different odds you can profit on that gamble without taking any risk on it not winning the race.

Football

In a football match you may see your favourite team take the lead, but struggle to close out a match. If you back them before the start of a match and lay them again after they have scored you can profit, even if they don’t go on to win.

How it works

In the illustration you can see we have back ‘Ampleforth’ for £10 at odds of 10.50. This returns £95 but our lay will only lose £90 so we net the profit between the two, in this case £5. The reason we now have a profit is that our liability on the lay bet is lower than the return on the back bet. This will always result in a profit if you lay at a lower price than you backed at.

So, in the case of our gambled horse, we would back it first and as more money arrives for it, this gives us the opportunity to cash-out for a profit by laying that bet back into the exchange market.

01 - Opening bets

When you go through this process of backing and laying the same selection with the same stake, you end up with a free bet on the selection you traded. That means you can use the free money as an outright ‘free bet’ or you could put perhaps it to use in the market as a lay bet. You would do this by laying the same selection again to eradicate your free bet.

02 - Both bets are matched

You can do this via the BETDAQ web site or by using software like www.betdaqangel.com There are many functions in the software that let you perform these bets in a number of ways. One of the simplest is on the on the ‘One-Click’ screen. On that screen there is a function call ‘Make Market’ that will do this for you with one simple click.

When you have a free bet, you will now win that money if that selection goes onto to win, but if it loses you will win nothing. However you can guarantee you win regardless of who wins the underlying event.

Cashing out a bet on BETDAQ

If you have a bet in a market, rather than have a free bet you can use www.betdaqangel.com or www.betdaqcashin.com to cash out any profit you have at that point. The benefit of doing this is that it will create a free bet and spread the profit across all selections in a market. This means you will win, as long as you are in profit, regardless of who goes on to with the underlying event.

www.betdaqcashin.com is a simple web app where, if you have any bet on BETDAQ, it will tell you what the cash in value is and cash out that bet. If you log into the website, it will check what matched bets you have and on what sports and tell you how much profit you can lock in. You can then cash out that bet with a simple click of the mouse.

In the example we have given, we backed Man United at the start of the match and when Man Utd scored, their price on the exchange change to reflect an improved chance of a win. At this point we can click the cash in button for a profit of just short of £605 regardless of who wins, in this case commission free!

cashin620

You can use the cash in tool on any sport at any point, but I suggest you use it with care to start with and small stakes while you get used to what it does. There are some limitations you should get familiar with; you can read more on the web site.

You only need to place one bet, either a back or lay bet for the cash in value to appear. One click and your bet will be cashed in.

To access the cash in app, simply visit www.betdaqcashin.com


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