The term cash out has been shrouded in a mist of misconception ever since it was introduced in the betting industry. It’s advertised as an additional option for a player who wishes to fortify his bankroll, by taking advantage of favorable betting conditions during a match. But is this the truth, or as many punters claim “a cunning bookie plan devised to reduce your profits“?
You can actually find convincing arguments supporting both opinions. Having the option to “lock” your profit anytime, and not wait until the end of the match, can be really is tempting. Obviously, your profit is smaller compared to what the initial odds would pay, however, the variable of playing time works in your favor, as you take matters into your own hands and choose the best time to cash out.
Cash out adversaries argue that the ultimate goal is to convince players to change their bets during the match and get far less money. Betting sites takes advantage of the player’s fear of missing the entire stake, so even before a match starts, they “offer” an alternative, thus clouding his mind with thoughts of doubt from early on.
One thing is certain
Similar to cash out refinance in investing, you have to be absolutely sure when to go ahead with cash out betting, as it can impact both your short and long term winnings.
So, what is the cash out?
The exact cash out definition is rather simple: It’s a product offered by the online bookmaker’s which permits you to “close” the staked bet anytime you like during the match. This means you can claim a safe profit, albeit less compared to winning at full time, or reduce your losses by getting back part of your stake back in case of unfavorable conditions.
How does cash out work? You simply press the according button and agree to “close” your bet at the mentioned amount. This amount depends on how the match is unfolding and can be more, less or exactly the same as your stake.
Cash out strategy
There are three basic strategies for cash out. These include cashing out on live events, acca bets and partial cash out:
When to cash out
- Bet in play cash out: The ideal timing for enabling the cash out service is when the current score is favoring your choice, but you’re afraid the opposition will level the score. Of course, you cannot be certain of anything, meaning that live cash out is a matter of instinct than a result of calculated research.
If you use the cash out service only based on what you see on your screen, you’ll be faced many times with a common uncomfortable situation. You will either cash out and feel “the bettors remorse” because nothing changed or stick with your bet and lose the entire stake due to a late goal.
Your best bet is to weigh the available data: Take into account the current score & match data and assess the actual possibilities. Last but not least see if the amount you’re offered feels right. If you decide that cashing out is worth it, then you should proceed and not regret about it. There’s no use lamenting over a mistimed cash out.
- Cash out on accumulators: This looks more tempting, especially if you’re waiting for a late match on your acca bet and have won the rest. In this case you have to calculate the risk: Is the amount offered similar or greater than the total profit you’d gain without the pending match? If it’s equal or bigger, it’s worth cashing out, regardless of the expected profit of your initial bet.
If all of your acca matches begun at the same time, you should really consider cashing out if you’re in the late stages of the second half and all your matches are winning. Remember, the actual winning possibilities of a three fold football-match acca bet are only 3,7% and 1,23% for four matches.
- Partial cash out: This might seem a bit complicated, however, it’s really easy to comprehend. A partial cash out will split your bet into two bets: A cashed out one and a running one. You “lock” a portion of your profit and leave the rest running. In any case, the profit you pull out shouldn’t be less than your initial stake, as in any other case you’re making a bad trade.
When NOT to cash out
It’s hard to argue for or against the cash out service, without having specific data to back your opinion. It’s obvious that the decision is personal and taken as a result of many variables, equally numerous and diverse for every match.
- Don’t let fear guide you. You should see the cash out service as a new “agreement” between you and the bookie and independent of your initial bet. Don’t be afraid of losing your money or missing the chance to “lock” some money that you practically have not yet received. Before you placed the bet, either before the start of the event or in-play, you reckoned the risk of losing your entire stake and decided it was worth it.
- Pick your moment. The match is running, so anything can happen at any time. However, before you cash out you should take some time to calculate your winnings and whether cashing out is worth it. This will require some seconds, perhaps even minutes. Even if the opponents score and you lose your wager, it’s better to miss an unprofitable cash out than to take hasty decisions due to the pressure of the match.
It’s better to deal with this service as if you’re placing a new bet. The bookie makes an offer based on actual numbers (the current 1X2 odds of the match). When you compare profit to probability and find it’s not worth it, you shouldn’t proceed.
Betting sites with cash out
Almost every online bookmaker nowadays allows you to cash-out on your bets. It’s hard to say exactly which ones will give you more money, however, the Bet365 cash out is well known for having large amount limits on your accumulators.
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