Grab Your Cash Early!
We’ve recently talked about Bet365’s Edit Bet feature which takes advantage of the Cash Out option implemented in 2016.
In our opinion, Bet365 are at the forefront of betting technology. Not a year goes past when they don’t implement a new exciting feature into their site. As well as that they have the fantastic Bet365 bonuses and promotions offer.
So let’s go through the cash out feature and what it means.
What is Cash Out?
The Bet365 cash out feature is just as it sounds. It’s an option that lets you take your cash out that would otherwise be locked up in a bet.
You can take it out at any time before the bet is settled.
This means that you could be watching a game and decide you’d like the money back from your bet before it ends. Cash out lets you do this.
Or, you could have placed your pre-match bets, but decide that you want to cancel them. Cash out also lets you do this.
How Does Cash Out Work?
If you decide to cash out your bet, just:
- Go to the “My Bets” area on the right-hand side of the site.
- Click on the “Cash Out” tab.
- Click on the “Cash Out” button.
Warning: You don’t get a confirmation. Your bet will be cancelled and you will receive the cash.
If you only want to cash out part of your bet
Advantages of Cash Out
Cash out has a few nice advantages.
- If your bet is losing, you can claim your at least something back before the bet is settled.
- If you think something is going to change in a game, you can cash it out and maintain your profit.
- If you make a bet by mistake, you can cancel it.
- You can cash out only part of your bet if you want.
Disadvantages of Cash Out
As with all betting, there are some disadvantages to cash out as well.
- If the match changes in favour of your original bet and you cashed out early, you will have lost additional profit.
- You have to make more decisions as you have control over your bet throughout the match.
- There is a 5% charge on the cash out value. Our £5 bet came out as £4.75.
Auto Cash Out
You can also set the cash out feature to happen automatically with Auto Cash Out.
Clicking the gear/cog icon will bring up the cash out options.
You can create a rule for the system to follow if you bet reaches a certain value.
First, you have to enter a value into the “If the value reaches” box.
Then select either:
- Cash out my bet
- Cash out X GBP
The first option will cash out all your bet.
The second option will cash out a pre-defined amount.
This is useful when for example, you want to reduce your risk and cash out your stake value when your bet becomes profitable and just continue playing with the profit.