Cash-out betting is a popular way of live betting in sportsbooks around the world, despite being a relatively new betting method.
But, what is cash out betting, how does it work, and what are the different types of cash-out betting?
Let’s find in.
What Does Cash Out Mean in Betting?
Cash-out is a type of betting where players can settle a debt before the event that they bet on ends. It’s most popular among recreational bettors since it reduces the chances of losing all of the money placed on the bet.
Players usually end their bet when they’re close to losing or winning their bet. Bookmakers will then make a higher or lower offer than the original bet based on how the sporting event is progressing.
How Does Cash-Out Work?
In cash-out bets, the odds are constantly changing as the game progresses, which directly influences the cash offer that players will receive.
For example, if you’ve placed a bet on Juventus to win against AC Milan, and it’s 5 minutes before the referee’s final whistle, with Juve leading 1-0, the bookmaker will give you an offer to cash out before the game ends.
If you accept, you will still get money, but it would be a smaller amount than the one you would get if you win the bet after the game ends.
When the odds change in a game (ex. One of the teams scores a goal), players cannot cash out until the bookmakers recalculate the odds.
Bookmakers can also withdraw the cash-out option any time during a match, so you need to closely follow the event to avoid missing the opportunity.
Different Types of Cash-Out Betting
The three types of cash-out betting are:
Full cash-out
Full cash-out is the simplest form of cash-out betting. It refers to the type of betting where players can take out all of the available money in the offer.
For example, if you’ve bet €100 on Chelsea to win the Champions League at 3.00 odds during the group stage, you will €200 if Chelsea wins the CL title. However, if Chelsea loses in the quarter-finals and the odds drop to 1.50, the cash-out offer would be €190. If you cash out, you take the full amount.
Partial cash-out
Partial cash-out betting gives players the option to cash out a part of their stake and leave the other part to run on the initial bet.
For example, if you placed a €10 bet on four matches at 10.00 odds (and potential winnings of €100) and won three of the four games, you can accept a wager at 50% and get a €25 return along with a €15 secure profit, the remainder €5 will be placed on the running bet.
Auto cash-out
In auto cash-out betting, you can place bets that can automatically close if your in-play position reaches a certain level of profit. This allows players to take part in cash-out betting without having to watch the game.
Bottom Line
Cash-out is a well-known form of betting that allows players to salvage some of their money if the odds aren’t in their favour. On the downside, they won’t be able to win as much as the original bet and the bookmakers can close the cash-out option any second during a sporting event.
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FAQ:
What bookmakers cover cash-out?
Some of the best bookmakers that cover cash-out are Bet 365, William Hill, Betfair, Paddy Power, Ladbrokes, and Unibet.
When should you cash out a bet?
Now that you know what is cash out in betting is, knowing when to cash out requires being familiar with the game and closely following the odds.
Players usually cash out when it’s unlikely that they’ll win the bet. Still, cashing out is not a form of betting where players can achieve an edge– it’s mostly an opportunity to get some of your money back if your bet was off.