Cash Out in betting - How does it work
This option is generally used in two cases. When your bet wins and when the bet loses.
If your bet is about to win, your bookie proposes you an amount less than the original profit. This makes your bet secure, as whatever happens next to the game, your winnings are guaranteed.
If your bet is about to lose, or it looks like very difficult to win, your bookie offers you an amount less than the original stake, giving you the chance not to lose all your money if your final prediction is not confirmed.
The Cash Out option is available by the time you placed the bet (pre-match or live) and is used in most cases during live betting.
Let's look at an example to make it more understandable.
In the game Arsenal vs Liverpool for the Premier League, you have bet €100 for Liverpool win, odds of @2.50. So your target is to make a clear profit of €150.
At half time with the score of 0:1 in favor of Liverpool, your bookmaker offers you the option to cash out €180 and settle your bet as a winner. At this point you can either accept the proposal of the bookmaker, make €80 of profit, and not get involved more with the game, or to leave your bet open, in order to win the full amount (€250) if Liverpool will win in FT.
In the same game, if Arsenal wins 1-0 in the half time, your bet is having now fewer chances to win. Thus, the bookmaker makes a bid of €30 to buy your bet and gives you the ability to not lose all your money (€100).
Which bookies offer Cash Out?
Bet365 is considered the best Cash Out bookie till now, offering it almost to all sports, singles, accumulators etc. Also they are the only betting site that allows partial Cash Out. A great feature that enables you to cash out a portion of your bet, while leaving the remaining amount open.
At William hill you can only have it on football bets, 90 minutes markets and some in-play markets only. Recently they added it to some tennis markets too.
Unibet offer applies only for single live bets and not for accumulators.
Why do betting sites offer Cash Out?
So, you are now wondering, why the bookies who are targeting only the profit, are giving you such an opportunity to minimize your losses?
The main reason that betting companies offer Cash Out option, is just because players are liking it a lot. It makes betting more entertaining, as it enables the player a direct settlement of a bet, so he can bet on another game. In this way, the bookmakers are raising the players interest for betting live and see their customers to bet again and again.
A second reason is that through the Cash Out option, betting companies have more profit. It may sounds strange to you, but there is an explanation. In the first example, and with the score 0-1 in favor of Liverpool, your betting company offers a refund of approximately €180.
At this point, the company knows that the real chances for Liverpool to win is more than 70%, and accordingly they offer the odds. This means that in 70% ore more of the cases, they will have to pay the full amount, and there is a 30% or lower of the cases, which they will not pay anything.
This option has created several discussions between players.
On the one side are those players that they like to secure their bets, like the flexibility of live betting, and also like to be in profit slowly and not get annoyed by late goals.
On the other hand there are the players who believe that by using this option, the term of value bet is gone.
The truth probably lies somewhere in the middle, as this option can become a good weapon in the hands of the experienced player if used properly. If for example, the team you selected winning 2-0 in the 80th minute, it makes no sense to Cash Out, because the odds are in your favor and all you will accomplish is to narrow the long profit from betting.
On the other hand, if the team you selected have received a red card and the result have more risk, it would be better to accept the offer of the company and to close your bet.
Let us know your opinion in the comments about this betting option, if you are using it and your experiences.