In recent years, sportsbooks have introduced Cash Out betting (sometimes referred to as Cash In), opening a whole new dimension to sports betting.
The Cash Out feature effectively gives the punter more control over their bets, allowing them to accept a return on their bet before the sporting event is over.
You’d have noticed the little Cash Out button below the betting slip on your chosen online betting site. This little button could keep a player in profit or see him cut his profits by cashing in his bet before the natural conclusion of the event arrives. Many impatient punters are tempted by the Cash Out tool; it’s a smart move by the bookmakers as they pay out less than they would if the punter waited until the bet had finished.
Cash Out is usually only available on selected events, fixtures and markets both pre-match and in-play, across single and multiple selections, for a variety of sporting events.
When to Cash Out
The Cash Out betting tool is used to secure player profits and minimise their losses.
But, if a player cashes out their bet they will take home less money than their initial betting reward. How much they pocket will depend on the odds at the time they decide to execute the Cash Out.
If you Cash Out before the final whistle then you’ll get poorer odds compared to letting the bet ride until the final whistle, but who knows what could happen in those final minutes. If the punter notices that his team is looking weak and worn out and the other team is looking stronger and more likely to net a late goal, then cashing out would be worthy of consideration.
This is when the cashing out game adds a new level of excitement to betting.
If a player is watching the action and checking his Cash Out prize money, then he’ll have an extra decision to make as part of his bet. Football and other sports tend to get more exciting in the final minutes, as that’s when a team is becoming more and more determined to win the game, the clock is against them and that puts more pressure on the player to cash out their bet.
When is Cashing Out Profitable?
The player’s offer to Cash Out will always come with shortened odds. So they bookmaker is paying out less than it would if the punter didn’t touch the Cash Out option.
The player would already be winning the bet if the Cash Out value is higher than the wager amount. Sometimes cashing out can prove to be a profitable decision by the player but most of the time it’s the bookmakers who will make more money from the player’s quick Cash Out decisions.
The Cash Out amount offered will depend on the performance of your betting selection(s). It will be higher or lower than your original wager, and will obviously depend on whether or not your bet is still likely to come through.
If you put a 50p 10-fold accumulator on and three selections have won but eight are yet to play, then the Cash Out amount will be less than the stake as it’s still very likely one selection will lose you the entire 10-fold bet.
What is partial Cash Out?
Many bookmakers even allow a partial Cash Out. This means the player can take a chunk of their winning bet while it’s in-play and leave the remainder of the stake to run until the event has met its end. The Partial Cash Out feature enables the player to secure a profit, whatever the outcome of the event. Bookmakers will usually allow the player to take around 10% to 90% of the partial Cash Out.
Which Bookies offer Cash Out Betting?
Cash Out Betting has proved immensely popular with punters, so inevitably the sports betting sites have rushed to meet the demand. Here’s what you can expect at some of our top-rated bookmakers.
The popular Irish bookmaker has really pushed their Cash Out marketing in recent years. Paddy Power now offers the Cash Out option on multiple bets across all sporting events. There is a slight delay between clicking the Cash Out button to the betting profit appearing in your account. This is to allow Paddy Power to react to the markets that may have changed before they have had time to reassess the odds.
Betfair was the first on the scene with the Cash Out feature. This sports operator set the path for others to follow. Betfair completed over 20 million Cash Outs last year. Players can also use the Cash Out on betting accumulators across all sporting events. The tool is easy to use, a simple click Cash Out click will see the player retrieve their profits instantly.
This sports bookmaker offers their Cash Out service on certain football matches, this only includes the final result market, single wagers, and accumulators. They do allow players to Cash Out pre-match or during in-play single and multiple selections after the wager has been set. Coral will indicate when the Cash Out bet is profitable by changing the Cash Out offer button from orange to gold. Coral do not enable the Cash Out tool on horse racing betting.
This powerhouse sportsbook only gives the player the option to Cash In their bet for match betting markets and in-play markets for football. William Hill has since allowed players to Cash Out their bets on tennis and darts, I suspect this is down to the sponsorship deals. To cash out at William Hill, the player needs to open their unsettled wagers and click the Cash Out button.
This bookmaker is only offering the Cash Out tool for a number of football markets for mobile players. Sky Bet has given the Cash Out feature a little twist and named it the Sky Bet Tracker which features three tools, the Cash Out, the bet status and the match stats. This allows Sky Bet to offer live football stats and the bet status with the Cash Out option all neatly placed together for player convenience.
888 call their Cash Out feature Cash In, you can cash in your bets on most sport in-play markets. 888sport offer some great in-play promotions and really stand behind their Cash In feature. When a player does decide to click the Cash In button, they will be guaranteed the same return, no matter the natural outcome of the event. The money will also appear in your account straight away, just click Cash In and the bet is over.
This sportsbook was the first online bookmaker to bring a partial Cash Out option into the world of betting. This allows the punter to Cash Out a portion of their bet while leaving a certain amount to ride until the event reaches its outcome. The returns and remaining stake amount are clearly displayed on the Cash Out key, making it easy for punters to select the amount they want to Cash Out and how much they want to keep wagering. To Cash Out a bet on your mobile device, you need to select the My Bets tab and then click the Cash Out tab to display the Cash Out options.