Sport Business

Betfair turn Cash Out profit from 16p to £5k

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Football News
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A man from Leeds had the shock of a lifetime last night, after being gifted £5000 by bookmakers Betfair, to celebrate their millionth Cash Out user.

Jason Parmar's £5 treble of Bayern Munich, Atletico Madrid and Leicester was struggling, with the English side behind to Nottingham Forest, and he chose to call it a day at £5.16. But just minutes later, his disappointment at the small profit turned to jubilation thanks to a phonecall from the bookies. 

"When Betfair Sportsbook first called me, I thought they were ringing to say there was a problem with my account," he said. "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 Cash Out scheme began in May 2013, and has torn apart the betting rulebook, allowing gamblers to claim winnings during the match, even if all their chosen teams are failing to win. 

Since the innovative arrival, other firms have attempted to incorporate the idea into their own mobile betting, in what has changed the face of sports betting. 

Betfair Sportsbook 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."

Since its birth nine months ago, the highest win so far came in at a cool £22,285, during a Bayern Munich and Victoria Plzen Champions league encounter. 

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This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

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