Bet365 introducing new betting method “Close Bet”

The always innovating engineers over at Bet365 has done it again. They now have added another great feature to their already great sportsbook which is a sort of automatic hedging system. This new concept has been named “Close Bet”, which is essentially just that, if you choose to do so, you can close down your bet now. Let me explain how it works:

Using the close bet will do just that, remove your bet from your account, and in return you are given a sum of money. If you are not feeling good about a bet you have made, you can choose to opt out from it and take some money at least. Let us say you have a bet on Kimi Raikkonen get a top 3 position in a Grand Prix race, and you see that he is lagging behind, with no seeming effort to get anything going, you can now opt to “sell” your bet back to Bet365.

close-bet-at-bet365The way you choose to sell your bet is to navigate over to the rightside of the Bet365 interface and find the “My Bets” button. Click that and you will see all the bets you currently have in-play and which of them you can close. The price you will receive if you let it ride and win will be stated, as well as what you would receive if you were to close it out right now.

Obviously, the amount of money you will receive depend on how your bet is looking. If the driver you have bet on has crashed the car, you cannot expect to get anything back, and if he is at the tail end of the race and sitting at last postition, you might not see a huge amount offered for your bet.

But you might want to sell out your bet in other instances, where you might receive more for it then you paid for it. Let us say Sebastian Vettel is leading the race clearly and seems to have it all sealed up, but you think some big risks are going to be taken by the racers chasing him, you might want to lock in your win right there. There are many possibilities using this feature.

This feature will be available to most Bet365 users (excluding customers residing in Greece, Germany, Italy and Australia), and can be used at desktop mobile, iPad, tablets and their premium mobile betting site. Right now it is not offered on all types of bets, but the most common ones like winning bets, totals, futures and other ones are counted.