What is Bookmaker Cashout Option?
Online betting has allowed various bookies to include many new and interesting features on their betting sites. One such offer is the so-called Cash Out option.
As the name might imply, cashing out allows you to obtain a certain return from your placed bet before the match or event in question is over. This offer usually appears immediately after your bet is placed. The return can be either bigger or smaller, depending on several different factors.
If your bet is looking likely to win, this betting offer will be bigger than the amount you bet – not as big as if the bet was to be fully settled, though. Otherwise, if your bet’s chances are not looking great, you can cut your losses and buy out some of the money originally wagered.
Example: How Cash Out Works
We’ll use a football betting scenario for the purposes of this example, but the same principles apply to any sport or market where the option is available.
Imagine, then, that you have placed a £100 bet that your favourite football team is going to win with odds at 1/1. About 60 minutes in, and your team scores. Things are going great, but it’s not 100% in the bag yet. So, the bookmaker offers you a £150 Cash Out. From there, things can go in several different ways:
- You take the offer and win £50, and rest easy for the rest of the game. However, your team wins, so your winnings are smaller than they could have been.
- You take the offer and win £50. Your team goes on to lose or draw, but your winnings are already secured.
- You don’t take the offer, but your team wins and you win a £100 profit.
- You don’t take the offer, but your team loses or draws and you lose your bet.
As you can see, cashing out is a sort of low-risk – low reward, safe betting strategy.
When To Use Cash Out?
Generally speaking, there are two major reasons to make use of Cash Out offers.
The first one applies when things are going well for your bet, and is illustrated in the example above. Taking these can decrease your profits, but leaves out any possibility of things suddenly turning around against you.
The other kind of when things are going badly. Basically, it’s completely opposite from our example: your team is losing, and the offer is to take £50 and not lose the entire bid. This will cut your losses, but leaves out any possibility of things turning around.
To end this betting tutorial, we’ll leave you with a few tips on how to use the Cash Out option to your advantage:
- When deciding whether to Cash Out, remember that there is often no “right” answer. Use your knowledge of the game and weigh out how confident you are going forward.
- Decide according to a bigger strategy.
- Statistics are the cornerstone of smart betting, Use them.
- Remember that most goals in football are scored in the last 30mins.
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