What is Cash Out in Betting?
Cash Out makes it possible for you to get money on your betting before the sporting event is over. The money you get will be determined by the time you are cashing out and the likelihood of your bet winning. The money can either be more or less than your stake. This option is available in in-play betting. The availability if the facility will be different from one bookie to another.
The cash out offers are subject to live betting markets and they can be volatile during the sporting event. Even in the final stages.
Different ways of cashing out
Live Cash Out
This is an option available to cash out on the game while it’s still live. You realize that some bookies will make it possible for you to cash out even on pre match bets. If you have placed a bet on 15 teams and 14 have already won but the final one seems to be letting you down while the match is still on; this can be in their first or second half. You will be able to cash out live and make sure that you have a profit at the end of it all.
Pre-Game Cash Out
This is where you get to cash out before all the games in your multiple bets have been settled. This come in handy when you have place a multiple bet but the last time to play has a major player down with an injury or something important about the game has changed. With the provision of the cash out feature, you will be able to get part of your expected winnings.
How Cashing Out Works
We will use an example to best explain how the cash out feature works.
Let’s take that you have placed a bet on a match between Chelsea and Manchester City. You have bet $50 for Manchester City to win with odds of 2.0 which means your expected win will be $100 with a profit of $50.
Half way through the match, the score is 0-1 in favour of Manchester City and you are being offered the option to cash out $85 which means you will be profiting $35. You can choose to go for this option or leave the bet open to full time. After you can lose the bet or win the entire $100.
In the same match, if Chelsea is ahead in halftime, it is clear that your bet might not win and you might be offered the chance to cash out $20 to have your bet closed. This will provide you with the opportunity to minimize on your losses.
Why do betting sites provide you with the cash out option?
You might be wondering why bookies will provide you with this kind of option to cut your losses. This is one of the ways that they make betting entertaining for the bettors. Giving them the chance to leverage some of their money to place a bet on another game. This will make the punter to gather more interest on live betting.
On the other hand, when you look at the bookies, they will get the chance to make more profit. This is seen in the second example we gave above where you are given the chance to cash out $/€ 20 from a bet that you had staked $/€ 50.
