Bet365 launches partial cash out

Bet365 has handed its customers greater control over their sports betting liabilities after becoming the first major operator to launch a partial cash out facility.

In an extension of its popular cash out feature, which launched in late 2013, partial cash out gives bet365 customers the ability to close a proportion of their bet while keeping the remainder open.

The innovation is presented using a sliding scale and enables customers to click and drag the slider to their chosen cash out proportion while an updated returns calculation is presented on-screen.

The launch is thought to be a sportsbook first and gives customers a similar level of liability control as seen on the exchanges, where customers can manage their books via the more complex back and lay functionality.

Betfair and Paddy Power recently announced they were close to introducing partial cash out to their sportsbook products while football pools operator Colossus Bets currently offers customers the chance to cash in a proportion of their multi-leg bet in between matches.

The ability to part-close is also an integral part of spread betting where customers can buy and sell for varying amounts in order to manage open positions.

Cash out, which was first launched by the now defunct IG Index sports betting subsidiary extrabet back in 2008, has become an important part of the sportsbook armoury and has led to an increase in customer in-play activity.

Betway and Coral recently became the latest operators to introduce cash out while last month Ladbrokes said it would introduce the facility later this year.