Every year the sports betting industry tries to innovate new features to help bettors get the best experience out of betting. In recent years this has been the invention of live in-play betting and being able to bet through mobile. These advances in technology have given you more chances to bet and so more chances to win. The latest offering for 2015 is the cash out option.
What is cash-out?
The simplest way to explain cash-out is being able to get money back from a bet you have made, even before the event finishes.
Let’s say you’ve made a bet on a football match and it’s only half-time. You then decide to end the bet without waiting until the end. With the new cash-out feature, all you need to do is click on the Bet365 “cash-out” button and you will receive the value of your bet at that specific moment.
Why use cash-out?
The best times to use the cash-out feature are:
- When your bet is winning and you’re unsure that it will continue winning until the end of the match.
- If your bet is losing and you want to regain some of your stake.
Let’s explain both of these with an example:
Your bet is winning
You’ve bet on Manchester United to beat Chelsea and the match is currently 1-0 to United. There are 10 minutes to go and Chelsea are fighting hard for a 1-1 draw. You’re currently winning your bet, but are worried that you may lose it in the final minutes. This is an excellent chance to use the cash-out feature. You can simply go to your bet selection and chose to receive the winnings for the result at that moment in the game. Of course, you aren’t going to get the same odds as you did when you made the bet on the full 90 minutes, but Bet365 will recalculate the value of your bet for that time.
Your bet is losing
If you had made the bet above (Manchester United to win) and it was 1-1 at 35 minutes, with Chelsea looking the stronger team, you may decide to cash-out your bet. In this case you are cashing out your bet because you think you will lose it, and with this feature you will be able to regain some of your stake rather than losing it all. The more chance your bet has to start winning again (i.e. lots of time left in the game), the more you should get back from your original stake.
Cash-out can be good and bad. It’s great for you to secure your bet if it’s winning or to reclaim some of your stake if your bet is losing, however in both cases, there is always the chance that you could have won more. If you withdrew a winning bet early, accepting lower odds, and the bet was still winning at the end of the match/race/event, then you will have missed out on potential winnings. The same goes for cashing out on a losing bet. On a losing bet, you will receive less than your initial stake, however the bet may go on to win and you would have missed out on profit. That said, cash-out is a “security” feature to help you make the most out of your bets. It helps you secure profit (or reduce loss), with the risk of missing out on more profit. If you get good at cashing out, you can use it to your advantage, but it wouldn’t be worth clicking the cash-out button every time your bet starts winning.
On the other hand, if you are ever unsure about making a cash-out at Bet365, you can always use their partial cash-out option. This allows you to use the cash-out feature on only part of your bet. Say you made a £20 bet and decided to do a partial cash-out, you could then get the profit on one £10 half of the bet early and leave the other £10 to play for the potential of a higher profit.
So as you can see, there are several ways to play this new feature and it’s definitely going to be popular with both new and experienced bettors.
Who else offers cash-out?
This is our current list of sportsbooks that offer cash out.
Bet £10, get a £60 free bets (£30 in sports and £30 in Casino) . The odds of your first bet must be evens (2.0) or greater.
Most markets are available. You should be able to cash out football bets as well as other popular markets including tennis, cricket, horse racing and baseball. Accumulator cash-outs are also possible.