It has now become expected of any bookmaker that wants to be truly respected in the industry to offer customers a cash out service. For those who don’t know, cash out offers punters the chance to take an early profit or cut their losses early on a bet, depending on how the selection is unfolding in-play. It has added a new dynamic to the way people now bet and has added a new level of excitement, with punters now given an added dilemma when choosing whether to stick or twist whilst their selection is unfolding.
There are a number of different ways to use cash out, of which we will explain throughout the following article. Below, we have listed the top bookmakers that currently offer a cash out service.
Football offers by far the most cash out markets of any sport on bookmaker sites, but there are also options to cash out bets in horse racing, snooker, American football, tennis, golf, cricket, boxing and darts, as well as more sports on more in-depth sites.
How to use Cash Out
It couldn’t be simpler to cash your bet out, with the process of doing it often being extremely similar on each separate bookmaker. Generally, you can find the option to cash out by visiting the ‘My Bets’ section of the website, where there will be a button on your bet slip that shows your cash out value and an option to take it. Cash out can be used both in-play and pre-play, with the value of the former being entirely dependant on the success of your selection.
For example, if you have backed a team to win in a football single bet and they are losing 2-0, you are likely to get a particularly low cash out offer comparative to your stake. However, if your team is winning 2-0, you will get a cash out offer that is far closer to the value of the original returns from your stake (that is if your bookmaker does not already offer a two goal early pay out offer). You can also use cash out pre-play if you no longer feel confident in your selection or if you have changed your mind.
You should note that you still may not receive your full stake back even if the event has not started. Bookmakers may reduce your cash out adjacently to the movement of the odds in a market to cover themselves, while they may also reduce your cash out based on circumstances such as team selection. Some betting sites offer a 90% cash out rate as standard, e.g. a £10 stake will see a £9 cash out immediately offered.
When should I Cash Out?
It is completely up to the players as and when they decide to use the cash out service, with it testing your nerve and confidence in your own initial convictions. Players should generally cash out their bets when they feel their offer is at a level that they can’t refuse to turn down – that is if the bet has gone well.
Alternatively, players can minimise their losses thanks to cash out by taking a lower percentage of their original stake if they feel their selection is on its way to losing. In this scenario, it acts as a consolation to players who then do not lose their full initial stake. Cash out should always be used with precaution and with the understanding that it could well come back to bite you as much as it can be of assistance when it goes well.
Why use Cash Out?
Cash out is an excellent feature to have if you don’t want to wait until the conclusion of an event to take your winnings. By using cash out, you are forfeiting your right to the full amount of your original returns, but are guaranteeing yourself the option to either take an early profit or have smaller loses than if you let a losing selection go until its conclusion.
It’s also a great feature to have for bets that have multiple selections, particularly if they are spread out and being played out at different times. If a punter has a 6-fold accumulator on the go and the first five selections come in, they can take an early significant profit if they are not as confident in their final selection than when they initially put the bet on.
Using auto Cash Out
Another feature that has come as a result of the introduction of cash out is auto cash out. With this feature, players can set their bet to be automatically cashed out should the value of the cash out reach a certain value. Only selected bookmakers have the auto cash out feature, so if this is something that you feel would be of use then be sure to check out the bookmakers features.
This feature is generally used more frequently on accumulators with higher returns, with players wanting to make sure they don’t miss out on a certain cash prize should your bet be successful. It is perfect for players who like to bet on the go and can’t continuously check their bet and the value of their cash out.