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# Cash out on a betting exchange

On a betting exchange, you can take a position on the market and, afterwards, close the position in such a way that your profit is guaranteed regardless of the outcome of the event. Closing a position is not necessarily done to gain profit, but it can also be performed to minimize loss. Some betting exchanges make the so-called "cash out" option available with the click of a button, and you do not need to deal with the calculations because the software of the exchange does everything for you. However, not all exchanges offer the full functionality of that feature, and this is where this tool comes into use.

Closing a bet can be done by placing the opposite type of bet (back or lay). If you have placed a lay bet, you are required to provide its details (odds and amount) as well as the back odds at which you aim to close the bet. Accordingly, if you have placed a back bet, you are required to provide its details and the lay odds at which you aim to close the bet. In order to achieve a profit, the value of the back odds should be greater than the value of the lay odds. The calculator outputs the amount with which you have to perform the final operation in order to have one and the same return in all possible cases. The calculator could be used even before placing the initial bet. If you can predict the market price movement, you will benefit from the odds fluctuations in time. You are free to apply the cash out strategy to any type of bet, including 1X2, correct score, over/under, etc.

You could also use this calculator to implement arbitrage between betting exchanges. In this case, however, you do not have the advantage of commission being charged only on your net winnings on a market. First, you have to use the calculator deducting commission to obtain the effective odds and then insert them in the calculator below, leaving the "commission" field empty. In a similar way, you can perform arbitrage between a betting exchange and a bookmaker.

## Formulas for cash out

where:

• AB  - back amount
• AL  - lay amount
• oB  - back odds
• oL  - lay odds
• R  - return (profit or loss)

The odds in the formulas are in decimal format.

If oB>oL   =>   R >0, and the net profit is:

where:

• PN  - net profit
• c  - commission rate (as a decimal)

## Calculator

Cash out calculator
 Lay Back * Required fields Odds: i Enter the odds (in decimal format) at which you have taken a position (lay or back) and the odds at which you aim to close the position! * One required field Amount: i Fill only one of the two fields depending on what position you have taken; leave the other one blank! Commission: % i (optional) Enter the commission charged by the exchange!

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