SBC News Voice of the Sports Betting Industry
This week Betfair Sportsbook celebrated their millionth Cash Out. The mark was broken by Jason Parmar, of Leeds, who had placed a £5 bet on a treble of Athletic Madrid (11/10), Bayern Munich (7/10) and Leicester (8/5) all to win. Despite Madrid and Munich winning Forest led Leicester for much of the game and Jason decided to Cash Out of his bet and walk away with a profit of just 16p.
However, in an unusual and kind hearted twist, to celebrate Jason being the millionth Cash Out Betfair Sportsbook instead handed him a £5,000 profit.
Jason Parmar said, “I’m in absolute shock. When Betfair first called me, I thought they were ringing to say there was a problem with my account. Instead they told me I was the lucky one millionth Cash Out customer and they were giving me £5,000! I can’t quite believe it – I’m a huge fan of the Cash Out product, and now it’s bought me a holiday!”
The Betfair Sportsbook Cash Out service, which was launched in May 2013, allows customers to lock in a profit on their bet before the completion of match. The highest Cash Out came in at a whopping £22,285 won during a match between Bayern Munich and Vitoria Plzen in the Champions League back in November 2013.
Betfair Brand Director, Mark Ody, commented: “The Cash Out product is unique to Betfair and we are delighted our ‘do you don’t you’ experience is one that is so popular with our customers. We launched the service on Betfair Sportsbook in May 2013, and it’s testament to the popularity of the service that we are already celebrating the one millionth Cash Out.”
The Cash Out phenomenon is one of the subjects that will be discussed at SBC’s Betting on Football Conference on 8 May at Stamford Bridge. More details can be found here.
