Cash Out Feature Explained
When you are placing your bets with the bookmaker you will likely have seen something called ‘cash out’, this is new and something that a lot of bookmakers are now beginning to offer. The cash out function is basically the bookmaker paying you out early on your bet, based on what is happening at the time you press cash out. Regardless of how the game finishes that your bet is on, you have taken the money if you choose to and that is now yours.
There are many ways which you can use the cash out function, but basically the two options you have are to cash out for a guaranteed profit when your bet is winning, or to cut your losses and make a small loss when your bet doesn’t look too great.
The first thing to note with cash out is that not every bookmaker will offer it to you, and those that do may on offer it on certain sports and events. Be sure to check out what your bookmaker offers, and if you are not happy with that try someone else, there are many bookmakers offering cash out now so you will be able to find one that you can take advantage of this feature with.
How do Bookmakers Create a Cash Out Figure?
When you are cashing out a bet, you take the figure shown on screen to you, and then regardless of what else happens during the remainder of the game, that money is yours. A bookmaker will decide on the cash out figure depending on how your bet is going.
For example, if you have placed a five-team accumulator bet and four out of the five teams have already won, with one to play you will get a far higher cash out than if just one has won and four are left to play. As your bet progresses nicely and the odds look to be in your favour the cash out amount will increase and it is when it gets to this stage where many people decide that cashing out on the bet is the right option to take.
The same also works the other way though, if your bet has a team that is playing and losing with 30 minutes to go, your cash out offer will be lower than your original stake because it looks as though your bet is going to be a loser.
The rules on cash out are very simple, but whether you should or shouldn’t cash out is down to the individual person and how you approach your betting. Some people ignore the cash out offers because they are happy with the bet and want it to run the full distance. However, others may bet with the intention of cashing out all along after they have seen a couple of their teams win, to prevent the risk of losing all their money.
Reasons to Cash Out
When you are looking at how your bet is going, you will get a feeling for if you are confident or not. Try and work out what percentage your confidence is currently at, and what risk there is remaining in the bet and this will give you a good idea whether the cash out offer is a fair one that you can take advantage of, or whether to leave it.
For example, if you have four winners out of five and the final team is playing well and looking likely to score, you may feel you have an 80% chance of winning. However if your cash out offer is only £100 and the bet could win you £200, you will probably see that as a bad cash out offer based on your thoughts about how likely the bet is to come in for you. By having some kind of idea in your head about where you think the bet is and what you think will happen with in remaining game will help you decide whether to cash out or not. Cashing out a bet is not something you decide to do because you want to cash out, you should only do so if you feel comfortable with the amount that the bookmaker is offering you. Even when cashing out you should still be looking to get value in your betting.
If your bet gets to a stage where the cash out figure looks promising then you really need to try and watch the game you have got a bet on. This will give you an idea of how the game is going, and how well your team are playing. Try and watch as many of your games as you possibly can, to get a feel for things and to see whether your team are the ones causing pressure, or if they are under pressure.
Cashing Out for a Loss
Sometime you will be offered less than your stake money back for a cash out. If this is only small then it may be worth leaving but if you have staked a lot of money then you could cash out to rescue some of your stake. This is a very difficult decision to make because you are effectively surrendering your bet and admitting defeat, but from a punting point of view it can often be a good root to take.
For example, if you are waiting on a team winning and they have a player sent off, things are going to be tough for them and it may be time to cut your losses. You could also do this if you have backed someone and they are playing poorly, and they don’t look like scoring. Of course they could score, and that is part of the risk involved with cash out, but if you believe that the team won’t win, you can make a judgement call and decide to pull out of your bet, taking what offer you can get from your bookmaker.
Don’t be scared to cash out for a loss, something back is better than nothing if you are in a bad situation.