bet365 stops "Close bet" option?

**timbaland99** · 12-20-13, 04:26 PM

I love that feature. It's not available for all sports. Only some of them. It is available for nba and not nhl, I know that for sure. I have not tried it for December 20th 2013

**timbaland99** · 12-20-13, 08:01 PM

I just contacted bet365 and they said that the 'close bet' feature is going through routine maintenance and it should be up and running again within the next 8-12 hours. Probably sooner

**jjgold** · 12-20-13, 08:49 PM

What is it?

**timbaland99** · 12-20-13, 10:26 PM

It's an option where as the game is going on, bet365 shows you what your bet is currently worth underneath your bet ticket and they provide you an opportunity to "close" your bet at a certain price at almost any point in the game. The only time it is not available is in the last couple minutes of the game. the "close" number changes as the score changes. If your bet is doing well then it is worth more and if your bet is not doing well then the closing price won't be as good. When you close your bet, the funds are immediately put back into your account

**dikefale** · 12-21-13, 02:03 AM

Havnt seen this before? Where do you check this option?

**timbaland99** · 12-21-13, 02:50 AM

It is under "my bets". There will be two options after that. Choose the "bets you can close" option.

My bets:

1) bets that you can close
2) unsettled bets.

If you have pending bets, but it shows (0) beside "bets you can close", then the option of closing the bet is not available for that particular wager.

It has only been available for nba so far, for me personally. Im not sure if they will expand this option to include other sports. I play mostly nba and nhl and it hasnt been available for nhl yet

**jjgold** · 12-21-13, 07:15 AM

Can you make a profit on it if winning and you close before game ends?

**timbaland99** · 12-21-13, 02:59 PM

Originally posted by jjgold

Can you make a profit on it if winning and you close before game ends?

Yes

**rankslash** · 12-21-13, 03:22 PM

I use it for Soccer, Tennis, and NCAA ...

It's a great feature to their website.
Example:

Today i played a parlay with:

1) Fulham - Man City Over 3.5 goals @-110
2) AZ - Heereveen Over 3.5 goals @-110
3) De Graafshaap - Helmond Over 3.5 @-110

I bet 50 to win 349 ...

Fulham - Man city was the first game of the day (FT 2-2 WIN). At half time the score at AZ - Heereveen was 1-3 (WIN) and at De Graafshaap - Helmond was 1-2. As you can see, i need one more goal at De Graafshaap's game to win 349 dollars.
However, i had the option to close my bet and to receive 320 dollars (sacrificing 29 dollars from my potential win). I did it! And the game finished 1-2 FT. If i didn't close the bet at half time, i was gonna lose the parlay.

*Sorry for my English, guys! hope you get the idea.

**Hareeba!** · 12-21-13, 06:22 PM

Betfair also has this option on some markets.

**rangerz2478** · 12-21-13, 08:13 PM

Sounds like a nice option but do they give you FAIR market value on your buyouts? So say you have team A +150, and currently team B is +150. Do they offer your buyout at +150 or a price below market value? I have a feeling they do this to entice people to buyout at a lesser price than they could by simply hedging the other side.

**HeeeHAWWWW** · 12-21-13, 09:28 PM

Originally posted by rangerz2478

Sounds like a nice option but do they give you FAIR market value on your buyouts?

Not looked at all, but I bet they take 7/8/9% profit off the fair price :-)

**rangerz2478** · 12-21-13, 11:54 PM

Originally posted by HeeeHAWWWW

Not looked at all, but I bet they take 7/8/9% profit off the fair price :-)

That's what I would think. Make it look nice for the customer who doesn't know any better. But I could be wrong.

**timbaland99** · 12-22-13, 03:45 AM

Originally posted by rangerz2478

Sounds like a nice option but do they give you FAIR market value on your buyouts? So say you have team A +150, and currently team B is +150. Do they offer your buyout at +150 or a price below market value? I have a feeling they do this to entice people to buyout at a lesser price than they could by simply hedging the other side.

From what I have seen with it so far, it's a feature in case you want to opt out of your bet or cash in on a partial profit to avoid the risk of losing in the full game. I don't even know if they offer it for moneyline bets. I have only used it with nba spreads and totals. They said they are trying it out to gauge popularity. The closer the game is to being finished, the more value your bet has if it's ahead. If you want to try and calculate it to the penny, my suggestion would be to try it out.

If your bet is not going according to plans, and you don't think the team you bet on is going to turn it around, wouldn't you want to at least have a opportunity at getting SOME money back? Or not take the risk of a late comeback and losing in the last couple minutes ? Or have your total turn to shit cause of fouls and garbage time?

You're focusing too much on the numbers and not enough on the concept and the fact that most sportsbook don't even offer this.

I wouldn't suggest using this for all the time but there are situations where it can be useful

Its up up to you to determine if the feature has value or not. Look at the example above, the guy would have lost his parlay and all he did was sacrifice a few bucks.

**Hareeba!** · 12-22-13, 04:39 AM

Do you really think these books introduce these new options for the benefit of players? ROFL.

Of course they juice the back bet. It's just more turnover at their margins = more net revenue.

Reminds me a bit of the "open" parlay gimmick. The benefit of these things is always with the house.

If you want to get out of a live bet, shop around for the best deal rather than accept the get out option with the book you made the bet with.

**dikefale** · 12-22-13, 08:53 AM

And what if you dont have money online to hedge the play?
This guy that have air bet at topbet,he would be glad to close bet before game started.

**jjgold** · 12-22-13, 09:36 AM

Betfair has this Option on many markets now

Cash out option but margins are nice and tight because of great volume and lots of live trading

**rangerz2478** · 12-22-13, 12:55 PM

Originally posted by timbaland99

From what I have seen with it so far, it's a feature in case you want to opt out of your bet or cash in on a partial profit to avoid the risk of losing in the full game. I don't even know if they offer it for moneyline bets. I have only used it with nba spreads and totals. They said they are trying it out to gauge popularity. The closer the game is to being finished, the more value your bet has if it's ahead. If you want to try and calculate it to the penny, my suggestion would be to try it out.

If your bet is not going according to plans, and you don't think the team you bet on is going to turn it around, wouldn't you want to at least have a opportunity at getting SOME money back? Or not take the risk of a late comeback and losing in the last couple minutes ? Or have your total turn to shit cause of fouls and garbage time?

You're focusing too much on the numbers and not enough on the concept and the fact that most sportsbook don't even offer this.

I wouldn't suggest using this for all the time but there are situations where it can be useful

Its up up to you to determine if the feature has value or not. Look at the example above, the guy would have lost his parlay and all he did was sacrifice a few bucks.

If it's offered for spreads, it's a nice option. BUT for money line plays, I think you'd be FAR better off simply hedging the other side. No way they do you any favors. As long as your bankroll is big enough, then you should avoid doing this for money line plays. Just use your own money to hedge. Hard for me to believe they would give you fair value. For players w small bankrolls, this makes more sense.

**timbaland99** · 12-23-13, 02:04 AM

Originally posted by rangerz2478

If it's offered for spreads, it's a nice option. BUT for money line plays, I think you'd be FAR better off simply hedging the other side. No way they do you any favors. As long as your bankroll is big enough, then you should avoid doing this for money line plays. Just use your own money to hedge. Hard for me to believe they would give you fair value. For players w small bankrolls, this makes more sense.

so far, it doesn't seem like they will apply this to moneyline wagers. Betting the other side is what I would do at books that are ok with it. I don't think bet365 is a fan of too much hedging, arbing, etc

**England1966** · 12-24-13, 08:26 AM

To be fair all bets are accepted on the basis that you are happy for them to run their full course, and a cash out option with any bookie is going to incorporate the amount you would have to stake at the Time of closing to cover the other side of the bet along with the bookmakers margin... As they don't have to give you any option to cash out early I think the way bet365 do it is fair enough, sometimes you make a small profit or cut your losses but either way people need to understand there is no such thing as something that is to good to be true.... An in my experience you can close money lines ... I see numerous posts about a close bet value not being available and this is atop off when tbh if the bookie does not want to cash out on any event they don't have to ad it is not an entitlement

**dynamite140** · 01-03-14, 12:35 AM

Originally posted by rangerz2478

Sounds like a nice option but do they give you FAIR market value on your buyouts? So say you have team A +150, and currently team B is +150. Do they offer your buyout at +150 or a price below market value? I have a feeling they do this to entice people to buyout at a lesser price than they could by simply hedging the other side.

What kind of idiotic question is this. For someone who tries to talk as smart as you try to be you had to ask a question like this which mean you dont know much.