The Cash Out service is relatively new on most bookmakers and was created to make live betting even more attractive. The Cash Out option gives punters the opportunity to lock profits or cut losses, by “closing” the bet before a sport event ends. It can be used at any time of the game if the bettor decides it’s suitable for him, without waiting until the end of a match.
A growing number of top rated online bookmakers offer the cash out service on an also expanding number of different sporting markets. After you’ve placed a bet, either a single or a combo, the cash out service will let you know what is the exact amount you can actually cash out for. From this moment on, you can cash out your bet, according to your tactics.
How it works
Cashing Out lets you receive a portion of your profit earlier, provided that your bet is about to be a successful one, or get some of your stake back if your bet is not going so well. Offers are made while your current bet is “running” real time and are based on live market prices. Whenever you are ready to Cash Out, you just press the according button. It’s obvious that you won’t get the exact amount as your pre match stake, but a slightly smaller one.
Some online bookmakers also offer a partial cash out service. With a simple click on the option you can choose how much you wish to Cash Out at the specific point you accept the offer. The service will let you know exactly how much of your initial stake you are about to Cash Out and how much you will get if the bet goes on to win.
However, before you choose to cash out a bet, you should take some time to carefully read the terms and conditions. Some online bookmakers place certain restrictions on cash outs. For example, they clarify that any live bet placed over a mobile can only be cashed out via your mobile as well.
A simple example: Suppose you’ve placed a 10 Euro bet on the home team of a football match. The bet is at 2.20 odds, which means that if they win, you’ll make a profit of 12 Euros. At half time, the home team is leading with 1-0 and upon checking the cash out value of your bet, you see that it stands at 16,50 Euros. That means that you can take an immediate profit of 6,50 Euros and stop caring about the match result at full time. Obviously, you might as well decide not to cash out, as the choice is entirely yours.
Standing out from the crowd
The average punter might have bet on a football team that goes a goal up and seriously consider the possibility of taking even a slight profit. In the example mentioned above, a 10 Euro bet will actually return 6,5 Euros profit instead of 12, because punters figure that it is obviously not worth the risk of trying to chase the extra 5,5 Euros. They keep on thinking that there might be a late equalizer or someone will be sent off. A punter is likely to only trade out winning positions early whilst keep their bets till the end when they go wrong. A real trader will have a stop loss point, whereas the average punter won’t even consider such a tactic.
Bet cash out is now being offered by the vast majority of online bookmakers because of its popularity among punters. Having an option like this gives bettors some added flexibility and makes gambling more interactive and therefore interesting.
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Pros & Cons
The advantage of cash out betting is that you can secure your profit on a bet without anxiously having to wait until the sporting event ends. Long-time expression “ a bird in the hand is worth two in the bush” is fitting perfectly here, especially if your basketball team is holding a slight point advantage with less than a minute of play or the tennis player you backed to win a tournament is in the final, but facing a tough opponent. In both cases you can simply cash out, secure your profit and watch the rest of the action on TV.
You can also use cash out to cut your losses. You might be involved in a football match that is going horribly wrong and the team you have backed is 2-0 down at half time. In this case you can salvage at least a slight portion of your money by using the cash out.
Of course, there’s a disadvantage too: when using cash out you know you won’t win as much as you would, if your original bet is eventually a winning one. This might lead to a situation where you’ll actually feel a bit disappointed despite having placed a perfectly good winning bet. By using the cash out you deny yourself of the emotions associated with placing a winning bet and seeing it through to the end.
When to cashout
Of course, there is no exact method for a 100% successful use of the cash out service. It depends on the punter’s choice to use it during an exact moment of the event. However, there are a couple of things to notice before you click the cash out button.
Wait on the last match of a large accumulator. If all the others are winning ones, the cash out amount should be much higher than your initial bet. The key for putting it right is to calculate the money you’ve gained so far along with the winning possibilities of the last match.
In case of placing bets in matches starting at the same time, it’s logical to take advantage of the cash out service when every team on your acca is winning. Especially if you enter the final 15 minutes of a tight game, you’re strongly advised to have a good look at the Cash Out option. There is nothing worse than that empty feeling when you are shocked by an injury time equalizing goal.
There is also the possibility of getting away early on some matches, or even before they start. This usually happens when you have had a change of heart or some team news has gone against you. If you think even one leg of the acca looks doomed before kickoff then it’s better to lose a small amount instead of the whole stake.
You won’t be able to cash out at certain times during the action. Bookies use to withdraw the cash out option at the end of the matches (usually when injury time is on, or earlier) or when a penalty or red card is awarded, because match odds are withdawn too and are changing.
Also, be aware that some bookmakers let you take advantage of the cash out service even with free bet offers. If during a match your cash out offer gets greater than the value of your original free bet stake, you will see the offer disappear.
If you are going to use cash out then you need to approach it like a sports trader would. This means that you must always consider cashing out on winning or losing positions and not deciding only by luck, watching the match on live straming. You have to check a certain stop loss point, where you will get out of your bet. Don’t let the emotions guide you, but decide on a cash out strategy with a set cash out point when you reach a certain profit point but also have a cash out exit point when it goes against you. In any case, there’s always the option of letting the bet go all the way till the end without cashing out.
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