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A few modern innovations in betting have changed the industry’s face – cash-out is unquestionably one of them. Being able to take money before an event has finished has revolutionized gambling and provided punters with an option that they have never had open to them before.
Understanding the Basics of Cash-Out
Cash-out is a way for a punter to receive money from a bookmaker before the event you have placed a bet on has finished. It can be used in two ways – the first to take a profit and the second to limit a loss.
It is a part of betting that has been hugely successful and has helped the industry move into giving more of a modern offering. Traditionally, a bet could only be won or lost. Cash-out allows you to change your position on a sporting event more flexibly.
The Mechanics of Cash-Out
Every part of a bookmaker’s business is carefully crafted to include a profit margin. This is true of cash-out bets. For example, you have a £20 stake on a pair of teams playing at different times with odds of 1/1 in a double. If the first wins, you will have £40 running onto the second leg.
You rarely get a cash-out offer as big as that in this scenario. The profit margin for the bookmaker will make it £35-37 as a figure offered. Of course, if the second leg loses, it will be a loss, but it is essential to consider the margin in a cash-out scenario.
The differences come when bets are still live and in play. The odds fluctuate, and with them, the cash-out on offer will also go up and down. Take a team at 1/1 to win a game – if they go 1-0 up, they become 2/5 to win the game, and the cash-out figure is bigger. If they go behind, they become 2/1, and the cash-out figure is smaller.
Most bookmakers offer two types of cash-out – you can cash-out in full or take a partial cash-out. The first is self-explanatory – you take the full value of what is on offer in exchange for the bet being finished.
The second usually has some sort of slider on your bet slip that allows you to take varying amounts and keep some running. This is great to lock in a small profit just in case but also to keep some going.
Benefits of Using Cash-Out
As mentioned above, there are two ways to use cash-out – locking in profit and minimizing losses. Now that betting in play is on offer like never before, punters can watch live streams and see how games or matches progress.
If you have backed a bigger-priced team that happens to take the lead against a more fancied rival, taking a profit before the potential comeback happens is a huge opportunity.
The other way is a risk management strategy. If your team is losing or if it looks like a goal is coming for the team you have bet against, it is a way to exit your position on the bet. This will not always be for profit, but taking a return from a losing situation can free up funds for another day.
Disadvantages of Using Cash-Out
The beauty of sport is in its unpredictability. As a neutral fan, there is little better than seeing a remarkable comeback – as a punter with a bet on the game, it can be a nightmare! There are days when we feel like the bet value has peaked, so we cash-out, only to find the team adds another goal, and the betting market shifts further.
Understanding that cashing-out is not always the best option is crucial. For example, if you have backed two teams as a double, the first wins. A profit will be offered ahead of the second leg, but it will not be as much as you would have won if you had just done a single on the first game.
Taking a profit is always tempting, but the balance between that immediacy and what can be gained from waiting has to be considered.
The Dynamics of Live & In-Play Betting
We have alluded to the synergies of live betting and cashing out. The evolution of cash outcomes from the increase of in-play betting options and punters looking for opportunities while games are already in progress.
The game progression is the single most significant factor in cash-out betting. What happens on the field directly affects an in-play price and the cash-out on offer. It makes for an exciting way of betting, with punters kept on their toes to find the right moment to take the offer.
List of Popular Betting Platforms Offering Cash-Out
Each betting platform has a slightly different take on cash-out. We have some of the major players below that offer cash-out. We have a brief betting guide for each to see what they offer.
The company that started it all with their exchange. The logistics of betting and laying allowed punters to cash-out for the first time. Betfair offers both full and partial cash-out to punters and, more recently, have been innovative in cutting out almost all suspensions of the football markets on their sportsbook. Betfair continues at the forefront of the cash-out revolution.
The Entain giant offers both full and partial cash-out, but most importantly, Ladbrokes offers one of the widest ranges of sports to choose from regarding cash-out. This is an essential consideration for those not just betting on Saturday football.
The home of the supercharged odds boost is also home to the supercharged cash-out! When you cash-out with Kwiff, there will be occasions when they will boost the figure you get after you press the button. You never know when the boosts are coming, which is part of the fun.
They are a relatively new bookmaker, but they have quickly gained a solid foothold in the industry, partly due to a good reputation for cash-out amounts. While this is subjective, they are an excellent option with full and partial cash-outs available until deep into games.
Like Betfair, SBK benefits from having an exchange arm in Smarkets. They have some of the best odds on the market, which allows a strong starting point for a cash-out option, especially with a strong football offering.