Cash Out Explainedby Steven Hubbard
The cash-out feature is a staple of all the best betting sites. Gone are the days in which a late goal could ruin or make your weekend. Well, they are still there but you now have the choice to avoid the agony or embrace the ecstasy of that stoppage-time goal.
In this guide, we will use football as an example but you can cash out with plenty of markets in different sports. Check with your betting site for more details.
What Is It and How Does It Work?
The cash-out feature allows you to accept a profit or loss before the end of the event. It is a real-time decision and usually pays immediately after you use the feature.
You can either celebrate by cashing out at the right time for a profit or embrace the pain of cashing out early and missing out on potential profit.
Or, you can be negative and cash out to minimise your losses, which we do not recommend at all. You should only ever place bets with confidence and money you can afford to lose. So really, cashing out for a loss should never be an option. Especially when anything can happen in sport.
Say you have a bet on Sweden to beat Mexico in the World Cup.
You back Sweden at 3.35 with a £20 stake at Unibet you could return £67. Say Sweden score around the 70th minute and are looking quite strong defensively but you feel Mexico could knick a goal. You will be able to cash out for a decent profit but not the full £67. If Sweden then scores a second or a third your cash out value will go up with every goal. Also as the time goes on your cash out will increase.
But say Mexico score. Your cash out could go to a loss of your original stake. You can choose to take the loss or let it run and hope Sweden score again and get the win.
What Is Partial Cash Out?
If you were nervous with Sweden only being 1-0 up, you could use the partial cash-out feature for a guaranteed profit. Essentially you can cash out a part of your stake but leave a remainder to run until the event finishes. You will receive your stake and a certain amount of profit from the bet depending on how much you cash out.
In this, you will get a new return with a reduced stake but you can guarantee a profit and more if it goes on to win. The odds should stay the same on your reduced stake but check with your betting site to make sure of this.
What Is Automatic Cash Out?
Just as it says, some betting sites now offer an automatic cash-out feature. You can set a profit value that you wish to cash-out on. If the cash-out value reaches or exceeds the number you set, your bet will be automatically settled and the funds added to your balance.
This is a particularly good tool for if you want to win a certain amount but don’t have access to your device to watch and maintain your bet.
Which Betting Sites Offer Cash Out?
Almost all the best betting sites now offer cash out and most with partial cash-out feature too. Football has the most cash out markets in most UK bookies. But, be sure to check which markets have it on your site. Usually, you will see a cash out symbol near the market or event.
Why Can’t I Cash Out?
There will be times when your CO is not available and it could be due to several different reasons.
Critical Moments- If a team in your bet has a dangerous free-kick, penalty, scored, or any other critical moment the betting will suspend. This, in turn, will also suspend your cash out. Play will have to resume and have no critical moments for you to be able to cash out.
If you have an acca will loads of different bets, the chances of it suspending is pretty high. The more selections the more likely to be unable to cash out. Especially towards the end of the match. Just something to be aware of if you place big acca’s.
Late in the game- Most bookies will suspend cash out features 5 minutes before the end of the game. This again will depend on your betting site, so its best to check with them for the specific CO time.
Price change- This can go hand in hand with critical moments or just as time goes on in the game. But most bets will suspend for a short time whilst the prices change and you will be unable to CO.
Technical issues or errors- In the event of there being technical issues or an error in pricing, each bookie will have different T&C’s but most will suspend cash out. It is once again best to check with your betting site for their rules.
Advantages of Cashing Out
Instant profit- Instead of waiting for the event to reach its natural conclusion you can cash out for a profit and use those funds immediately after. This can be great if you worry about your bet or want to use the funds for another bet.
Prevent potential losses- Even if your team is winning, and you are watching the game you can sometimes tell they won’t hold out. To get rid of those unwanted nerves you can now cash out and sit back to enjoy the game knowing you are in profit. Yes, you may not win the full amount, but it’s far better than knowing you should have cashed out and seen that goal go in to ruin your bet.
Reduce your losses- It is not recommended to cash out on a losing bet. But, if you have a big stake and it looks very unlikely from your pre-game analysis. You can cash out for a respectable loss to prevent you from losing everything.
Betting on underdogs- If you are watching a game live or you have done the research and feel good about an underdog that could take an early lead. You can then cash out for a profit even if they then go on to lose the game. Betting on underdogs that score goals and have a chance of leading early is a great use of the cash-out feature.
Waiting for your last leg- Say you are winning 5 out of 6 selections with the other drawing. You can often get very good cash out value. Depending on the game, you might choose to cash out, and that would be fine.
Disadvantages of Cashing Out
Benefiting the bookie- The cash-out value will often be lower than the full return. Unless it is winning comfortably late on, you can get full cash out on some sites. But, most of the time it will be less which of course benefits the bookie.
Bad decision- Sometimes it can be the wrong decision, with your bet winning after you cashed out. You need to have confidence in your bet and only wager money you can afford to lose. So most of the time cashing out should be avoided.
Ruining the fun- Sometimes you can constantly focus on your cash-out value, and you forget to even enjoy the game you are watching. Remember it is never just about winning money and making a profit; it should be a bonus to the fun it creates whilst watching sports.
Ultimately, it’s down to you whether you choose to cash out or not. Just remember you have put a bet on in confidence (hopefully) with research supplementing your choice. You are also placing money that you can afford to lose so you shouldn’t need it unless you are cashing out for a decent profit.