What is Cash Out, how to secure your profits and cut your losses. How to cash out a bet and how to find which Sportsbooks offer cash out option.
What does cash out bet mean and why has it become so popular among bettors? Cash out has become one of the favourite weapons of punters. It’ s an important option that sports betting sites offer on live betting. It gives the player the opportunity to secure his profits during the sporting event he wagered!
Especially if he is afraid to lose his bet in total, cash out gives him the option to cut his losses before losing totally his bet. Cash Out is a great option for bettors that are not confident in their live bet (in-play bet) or want to minimize their bet risk.
That is why cash out is becoming more and more popular among the players. And this is the reason why the majority of top bookmakers offer the cash out option, which you can find also as “close bet” a similar term that is used by some bookies.
When can I cash out my bet?
What is cash out or close bet? It is the option a player gets to settle a bet before the game is over. Since your bet wins at the time you choose to cash out, the betting site will offer you a sum of your potential winnings to close the bet, depending on the minute and the score.
This option gives you the opportunity to win a bet before the end of the match, with less profit, but without the danger of losing your bet.
On the other side, if the team you selected is losing, then the Bookie gives you a smaller amount than you originally bet. In this case, the player uses the cash out to get back a percentage of the initial capital and not lose all bet. That’s how a bettor limits his loss.
Cash out on single and multiple bets
Example: Liverpool face Manchester United for the Premier League and you bet 10 euros on Liverpool’s win at 2.10. During the game Liverpool scores (1-0) and the bookmaker, through cash-out option, gives you 15.50 euros to close your bet.
On the other side, if the score is 0-1 for Man. United, the Bookie offers you a cash back amount of approx 3 euros. If you think that Liverpool won’t be able to turn the game around, you can just limit your loss and grab those cash back 3 euros.
Cash out offers are subject to live betting markets. Those can be volatile during a sporting event and increasingly so in the final stages of the match. The current market prices are the ones to determine any cash out offer.
So the available offer will itself be increasingly volatile as the likely outcome of the event becomes potentially clearer. As the likely chances of winning change, an offer for cash out will increase, decrease or be removed altogether.
Cash out offer applies to multiple bets as well. Imagine a 10 euro treble bet placed on three football teams with a potential return of 240 euros if all three teams win. With ten minutes left to play all three teams are winning 1-0, and a cash out value of 180 euros is offered.
You could cash out and take the 180 euros avoiding any further risks. If after you cashed out one team conceded an equalizer, you would not be affected and would keep the 180 euros. But if you had decided not to cash out and the score line stayed the same till the end of the games you would have had a return of 230 euros. This is the cash out dilemma!
Why cash out early?
There are several benefits of early cash out. Most importantly the fact that you get the money in your pocket before the match even ends. Closing a bet allows the player to escape late goals and take advantage of live market opportunities.
Cash Out allows sports bettors to get paid for a wager before the result of the event is complete. Bettors will usually choose to cash out early from a wager for two reasons.
A punter takes a part of his winnings if a wager looks good at the point but doesn’t seem as though it will end with a win. Similarly, a bettor can cash out early on a losing ticket so they don’t lose the entire amount of the wager.
Sometimes it’s best to take the money while it’s available on a bet that seems as though it might not end up a winner.
Also, it gives the punter the chance to close a bet early, especially if a bet is for goals. For example, you bet for Over 2.5 goals and before half time the score is 1-1. The player has the opportunity to play safe with a significant percentage of the potential profit without the anxiety for the next goal. Cash out, it’ s the security of the player who may be conservative but ensures a secure profit.
How to cash out my bet?
The Cash Out feature is available in most, but not all, sports betting sites in the market that offer live betting. The easiest sports betting site cash out is to visit the active bet area. There check if there is a Cash Out option and what the current price is for your wager.
If you like the Cash Out price offered by the betting site you agree simply click the Cash Out button and confirm your action. Once complete the money will appear in your account. Cash in pocket, cash out from your bet…
You have to login to your account. Either in your favorite mobile sports betting site via your mobile phone, or tablet, or on your desktop or laptop computer.
Those who are not choosing the cash out option are the more risky and aggressive players. They do not want to settle and they are hunting the biggest win with the greatest amount of profit without giving the opportunity to the Bookie, which also the advantage of the rake, to pay less than the real value of the bet (as it was before the match).
In conclusion, the option to cash out or not is a matter of spirit, mentality, and strategy of each punter. Look for the best cash out offers and read the terms on each platform first. Always keep in mind that the amounts a player wins using cash out will not count towards the calculation of any bonus taken.
Also, keep in mind that Bookmakers have different rules for cashing out. You should check in advance to see which kind of wagers will offer a Cash Out feature if you want to follow the specific event you want to bet on.