What is Cash Out in betting?
More and more bookmakers offer cash out nowadays, but what is exactly this feature? This feature allows plays to settle their bets prior to the end of the game. Basically, the bookmaker offers an amount to “buy” player’s bet.
When to use Cash Out?
There are two cases when bettors choose this option, when the bet is close to being a winning one or when the bet is close to being a losing one. In the first case a player will accept lower amount from the bookmaker in order to avoid some surprises. In the second case player sells his bet for an amount lower than his original stake in order to wait total loss.
How Cash Out Works?
Let’s say you placed a 10€ bet on A team against team B at 2,30. It is ten minutes to the end and your team lead 1-0. Bookmaker will then offer you 17€ cash out. In case you doubt team A will survive last 10 minutes you can take 17€ and enjoy till the end. On the other hand if you cash out and your team win, you won’t get 23€ you were supposed to get.
Why Bookmakers Offer Cash Out?
The bookmaker will offer you a profit on your bet when they want you to cash out. They generally don’t do such things because they have good heart, but ultimately to maximize their own profit. This is particularly the case where combos are place. If you have a seven-fold accumulator and you have already correctly guessed six of them, the spoortbook will want you to cash out and probably they will give you generous offer.
To Use or Not to Use Cash Out?
Cash out option is two edged sword, so players should be careful when to use it and when to avoid it. By using cash out feature a bettor can cut his losses, but also sometimes will have much lower winnings just by using it. There’s no simple answer to the question if you should use or not this feature. Some players claim it is an excellent “weapon” against bookmakers, while others claim something completely opposite. As usually, the truth lies somewhere in between. This option can become a good weapon in the hands of the experienced player, but it can also be “death” for some less experienced players.
Cash Out Strategy
Some bettors use Cash Out strategy in their value bets. Let’s explain this strategy in couple of words. For example, Leo Messi and Cristiano Ronaldo were favorites to win the Ballon d’Or award. Prior to the World Cup odds for Luka Modrić to win the award were 50, although the Croat had very good season and have won the Champions League with Real Madrid. Smart bettors took Modrić to win the Ballon d’Or, and after couple of his good performances at the World Cup odds against his win went drastically down. Eventually Modrić did win the Ballon d’Or, but many smart bettors cashed out their bets much earlier as they were able to close their bets with profit. This very same strategy will work with any long term bet where a bettor is able to find a value. BUT! Be careful to check if your bookmaker offers cash out for a particular market.
We recommend Bet365 for their excellent cash-out feature.
Bet365 Cash Out Option
#1
Bet365 Welcome Bonus for new customers
with promo code PTVIP
Up to £100 in Bet Credits*
*Min deposit €5. Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. The bonus code PTVIP can be used during registration, but does not change the offer amount in any way.
Why we recommend them for using cash out? Because of the cash-out rates and easy use of the system. You just need to find your bet slip in My Bets section and cash out feature is clearly displayed in there.
What amount they offer for your bet is more than most of the bookmakers and you can manage how much of the active bet you want to cash out with a sliding scale. This option as called partial cash-out. Bet365 is one of the leading sportsbooks which offered partial cash-out to their users.
