BetVictor launches in-house built cash out
Product initially made available to UK punters on selected football markets ahead of wider roll-out in the coming months
BetVictor has launched an in-house developed cash out product as the Gibraltar-based bookie continues to revamp its core sports betting product ahead of the start of the new football season.
Cash out, which gives customers the opportunity to take a profit or cut their losses based on an in-play valuation of their open bet, was made available to UK-based BetVictor customers yesterday and can be accessed via mobile, tablet and desktop.
Customers can currently only cash out on five of the most popular football markets, including win-draw-win, correct score and both teams to score, although the functionality will soon be rolled out to more sports and bet types.
Eoin Ryan, head of BetVictor’s sportsbook product, described the launch of cash-out as a “major milestone” for the firm and said cash-out had become an intrinsic part of the football betting experience.
“It’s a crucial product that the modern day bettor expects to have access to, and we know that it will help us continue the sustained growth and progress we have seen, especially in our football business, over the past few years,” Ryan said.
“Over the coming months we will continue to refine the initial launch product and will quickly look to extend its scope to more sports and markets as well as to innovate with new functionality,” he added.
BetVictor’s release of cash-out follows last month’s launch of the new version of its iOS App into Apple’s App store as the operator prepares for the start of the new football season.
The cash-out technology was developed in-house by BetVictor’s specialist technology team, which the operator said enabled it to make adjustments and developments far quicker than if the service was outsourced.
Cash out is now offered by the majority bookmakers with the likes of William Hill, Coral, Sky Bet and Kambi-powered 888, 32Red and Unibet all offering the service.
However, bet365, Betfair and Paddy Power have all upped the ante in recent months with the launch of partial cash out, which gives customers the option to close out a selected proportion of their bet, a facility Ryan said was on BetVictor’s radar.