Following in the footsteps of betting giant Betfair, Paddy Power now also offers players the option to cash-out their winnings at a smaller rate during football games, should they not be certain that the current result will last. This new feature provides players with a chance to be sure of winning money as well as a lower overall cost for the operator in games where the results doesn't change. Neither companies are the first to introduce these features, as betting site Tipico has had the feature for years, allowing players to sell their coupons back to Tipico at a discounted win rate, should they be worried about the last game not ending in their favor.
Paddy Power's Managing Director of online, Peter O'Donovan released the following statement to investors in Paddy Power " In November we’ll be releasing the first of our cash-out products as well, which would be on football betting, and we expect that to launch over the next week or two".
Paddy Power has had a rough year with profit estimations going down, due to bad results in the champions league and Melbourne cup. With the launch of the new Cash-Out feature, Paddy Power shows determination to change things around and stay in the top of the betting industry.