What is Betting Cash Out and how does it work?
The betting cash-out option is a feature that was recently introduced in most betting sites in addition to the live betting or in-play feature. The principle surrounding cash out is bet offers are made in real-time, before the final result being decided. To be precise, betting cash out allows you to get your money back right before the game ends if the preliminary results seem to be going against your favor (i.e., you realize you’re going to lose). This feature is ideal for those who quickly foresee a loss and the money you get back is determined by the time you decide to cash out once the game commences.
In-play markets are usually volatile therefore the amount you gain from cash out is difficult to predict, more so in the final stages of a game. When the chances of securing a win are not apparent, the cash out option fluctuates and can be removed altogether.
Here is a real example of how betting cash out works
Assume you have placed three bets of $10 each on five different soccer teams with odds of 1/1, 3/1 and 15/8. If all your bets win with relative to the odds, you receive $230. Now, imagine that with ten minutes left in all the games, and your teams are winning, you are offered a cash-out option of $180. You have two options, you can either accept the cash-out, walk away with the guaranteed $180 or you can reject the cash-out and walk out with the $230, this, however, is if your teams win. If your teams equalize or lose in their matches, your winnings get significantly smaller.
What is the meaning of Partial Cash Out?
This, contrary to the former, gives you an opportunity to cash out partially the amount you have placed in a bet while the remaining amount and continue to run the rest of the stake. A Partial Cash Out offer is made according to the selections prices available within your bet. It allows you to collect some of your winnings but leave some of your stakes on to lock-in a profit, depending on the outcome.
To put it into perspective, you’ve placed a bet with a cash out value of $100. Different betting websites have different cash out increment value, let us use 10%. The amount you’ll be able to cash out partially is $10, and the remaining $90 continues to cover your bet. However, it is prudent to note that the returns will be based on the $90 non-cashed out amount.
Auto Cash Out Feature
The Bet365’s recent innovation, this feature gives you the opportunity to form ‘cash out rules’ which are carried out by the system without further input. Auto cash out works by placement of the bet at the time of choosing, before the settlement and creating a cash out rule that ensures that your staked amount is automatically paid out once the offer reaches a specific level.
The threshold is what you’ll define and set, and the system will cash out your earnings even when you aren’t logged on to the account. This feature also supports partial auto cash out where after setting the threshold, you can then instruct the system on the amount you wish to cash out.
Here is a real Auto Cash Out example:
Assume you placed a $10 bet over a 3/1 odd, on a team to win the Super Bowl, the returns equal to $40. Using the auto cash out feature, you can create a rule to ensure a betting cash out happens when the offer exceeds $20. Alternatively, with partial auto cash out, you could instruct a total of $15, while the remaining $5 is left to ride the bet.
Why do online betting websites offer the cash out option?
Indeed it does seem strange that some betting websites offer an opportunity for customers to minimize their losses. Not only does a betting cash out option provide security to them when placing their bets but also adds some excitement to the process.
The cash-out option is yet another betting techniques advancement, with the increasing popularity of the live or in-play betting feature introduced on game betting. Have fun enjoying this new feature and bet wisely. Check our bookmaker review for best features.