Betfair unveils upgrades to cash out and Exchange layout
Improvements designed to boost percentage of successful cash out attempts for all non-racing sports
Betfair has announced a number of upgrades to its Exchange interface and live cash out function, as the operator continues its focus on product following its merger with Paddy Power.
The firm made the changes to its Exchange cash out system for all non-racing sports earlier this week, with the other improvements to the interface set to follow in “the coming months”.
The company said it had changed its cash-out pricing algorithm in an effort to improve the number of cash out attempts that are successful.
The cash out offer shown to punters is now based on the second best available price rather than the first. When a customer clicks to accept the offer it is executed at the best price available regardless.
If the price has worsened by a tick, the cash-out is executed at the price already displayed, and if it moves two ticks, the cash out will be unsuccessful.
Betfair said it expects to make the same changes to in-play horseracing markets “in the near future”.
The Exchange homepage will also be revamped towards a “quick and easy to navigate layout”, with more relevant events shown to users.
Elsewhere, Betfair said it plans to upgrade its coupon pages â such as betfair.com/exchange/football â to make them faster and give punters more control over what they see.
“You will start to see the new pages over the coming months,” the company said in a note to customers. “We want to hear your feedback and make sure the new pages work for you as we roll them out.”
The updates are part of a concerted effort from the newly-merged firm to leverage its enormous tech team to its advantage.
Paddy Power Betfair has in the region of 1,000 people in its technology department, of which 800 are developers or delivery teams.
The group’s other brand, Paddy Power, is also upgrading products, with plans to phase out its old Android app at midnight tonight and shift customers towards a newer version which includes live streaming and its new Flash markets.