To cash out or not to cash out? Surely, it doesn't have the same ring to it as Hamlet’s dilemma, but when it comes to betting, it’s almost as if your bankroll's existence depends on it. The time pressure during a live bet and the enticing view of the cash out button create the perfect mix for a nerve-racking betting session.
Should you play it safe or reap the rewards of a great risk? Should you go for it and take what you can, or patiently wait for the final whistle? Moments like this have you split between two frustratingly conflicting sayings " is a bird in the hand worth two in the bush" or "do good things come to those who wait"? Both sides have keen supporters who are unsurprisingly more focused in pointing out the other side's disadvantages than manifesting the positives of their own views.
The main arguments for both sides are as follows:
Pro Cash out
If the score of a match favors us, it means we made a correct pre-match analysis and need not wait for the final whistle to gain profit. We have the chance to secure some earnings now, even if they’re a bit lower compared to the amount of a won bet. Letting the bet run its course means risking a loss due to a last minute goal. Cash out specialists are usually people who will share stories of late goals, that cost them a fortune!
Against cash out
Why settle for less when you can take the full amount? Bookmakers are offering the cash-out service to snip your profits. It's like betting on far lower odds than those found before the start of the match. Isn't it worth it waiting for some minutes, or hours, to get what you truly deserve? There’s also a misconception about what the term risk includes. The odds you pick before the match include the entire 90 minute plus injury time. This means that you took this risk into account when you chose the initial odds. Whoever argues against the cash out service will tell you that if it was indeed helping the players and not the bookies, it simply wouldn't exist.
A methodical weapon
What’s my opinion? The cash out service is a weapon and should be used like one. It needs attention, patience and prudence. If you want to gain profit, you have to be methodical. The ideal cash out scenario is to cash out when you’re feeling that a winning bet could end up losing and not cash out in “safe” matches, when you’re sure that the final score will suit you. This is how 99% of bettors use the cash out.
"Guess what, it’s wrong"
By doing this you are not betting. You’re trying to predict the future like a fortune teller. The most dangerous thing could do, is destroy your positive mood for betting. When you use the cash-out service randomly, in most cases you’ll feel as if someone is stealing money directly from your account. There have surely been matches where you cashed out and nothing happened, or didn’t cash out and lost everything due to a late goal.
Before you decide whether to cash out or not, it’s always worth having a look at your own database where you can find useful information. How many of your bets were won or lost due to one goal? How many times did a late goal make or break a bet? These are all important data, that can act as a guide on what to do.
Setting cash out limits
What’s the best way of using the cash out service? It’s simple: Setting limits before the match starts and enabling the cash out service when you reach or exceed these limits. There are three types of limits:
A specific minute of the game when you decide to cash out. You should always enable the cash out in this minute and not only when you’re afraid of losing money. The only thing you have to do is decide the exact time frame of your cash out.
If the total amount you claim exceeds a specific limit, it’s time for you to cash out. It’s recommended for high rollers or when you've bet on high valued odds. Suppose you bet €100 for a 1.95 home win, when you reach a profit of €75 it’s like having bet on 1.75 odds.
This is a more confusing situation, as it does not only concern positive cash outs, but also negative ones, when you are trying to limit your losses. For example, some players will cash out their bets if the team they're backing gets a red card. With such limits you set specific “tells” during a match.
Limits prevent you from using the cash out service only according to your emotions. The worst case scenario is “waiting for just one more minute” and anxiously watch the opposition start a counterattack.