A cash out bet is one of the most exciting features betting platforms offer to their punters, as it means extra control over wagers. Imagine you placed a bet on a game that should be a sure thing, and all you have left to do is sit and relax. But things don’t always turn out as expected, and the clear favourite you backed starts to lose dominance.
Unfortunately, all you can do now is wait for the outcome – unless you have the cash out option. Nowadays, many bookmakers feature cash out betting; here’s what you should know about it:
What Is It and How Does It Work?
Although it’s still a relatively new phenomenon, cash out has become widely popular. It allows the possibility to settle a bet before the event or events you wagered on have come to pass. The whole idea behind it is to make offers for punters in real-time before the game’s final result is decided. The amount of money punters get when they cash out is determined at the time of cashing out and the likelihood of your bet winning. One of the clear benefits of the cash out option is that it saves you from losing the whole initial stake. You can get back less than your initial stake, or end up with a profit. Either way, it’s better than losing it all.
On the other hand, if you’ve placed a bet on a football match, and a goal has just been scored, the cash out option will be suspended until the bookie recalculates the odds to see how much a bet would be worth for cashing out. Bookmakers also have the right to withdraw the cash out option at any point during the game, which means you should keep tabs on it if you don’t want to miss an opportunity.
Types of Cash Out Bets
Now that we know how this type of bet works, let’s have a quick look at different types of cash out bets to familiarise ourselves with the available options.
Full Cash Out
This is the simplest option you can go for. You cash out your sports bet in full and settle with a small loss or a profit.
Partial Cash Out
If you’re not sure about cashing out your whole stake, but want to get some money back for sure, you can use the partial cash out. This option gives you a chance to cash out a portion of the bet and leave a part of it active. If you decide to do so, you should know that the original bet was calculated based on the cash out amount offered by the bookie at the time of placement, but the remainder of the bet will depend on the amount and the new odds.
Auto Cash Out
Another speciality found on some cash out betting sites is the auto cash out. You set the desired threshold when placing the original bet, and it automatically settles if that threshold is reached. For example, once your bet reaches £50 in value, it cashes out. All you need to do is set the amount. This option is convenient, especially if you’re one of those bettors who tend to get overly excited when they start winning and lose sight of when to stop.
How to Build a Cash Out Strategy
No specific rule can guarantee results each time you place a bet. However, there are some tips and tricks that can assist you in developing a successful betting strategy.
Find a Proper Sportsbook
The first stop on your cash out betting journey should be finding a reliable bookmaker. As the betting market gradually evolved, there are now numerous choices for betting platforms. All betting sites have different terms and conditions regarding cash out bets, so find a site you like and get familiar with its rules before placing any actual deposits.
Here’s the most important rule every punter should remember: No matter how exciting the game is, stay disciplined. Each player should set a limit before placing any wager or picking any selections and stick to it no matter what.
Check Your Odds
Odds are essential to pay attention to if you wish to fully understand how cash out works in sports betting, or any other bet type. Bookies always try to attract players by offering higher odds than they would usually get with regular moneyline bets. As tempting as it may be, the fact is that only teams that have low chances to score any goals and win the games qualify for these kinds of odds. Therefore, you should take all that into consideration before wagering any money.
Cash out isn’t a perfect betting system and can’t guarantee a profit. However, it offers a bunch of opportunities and can sometimes work in your favour. Now that you know the answer to “What is cash out?” and the way it works, you should think about long-term bank management to ensure you make the most out of it. And if it doesn’t turn out to be the way you expected, at least you’ll have some insurance and the ability to retrieve a part of the funds you invested.
Can you cash out mid-game?
The whole point of cash out bets is that you can cash out your funds at any point throughout the sporting event.
Why is cash out unavailable?
Although many bookies include cash out as part of their regular offer, you might see this option unavailable at some point during the game. This usually happens if there’s been some major incident on the field, such as a penalty being awarded, a red card being handed out, or a goal being scored, which would greatly change the odds of the original bet.
Can you cash out free bets on bet365?
As one of the major sportsbooks in the UK, Bet365 offers great betting options to its punters, one of which is cash out betting. It is available across various markets, including pre-match and in-play betting. You can use this possibility when placing single or multiple bets on different sports, such as football, basketball, horse racing, tennis, cricket, and more.