If you’ve been betting online for a while, you’ll probably already be familiar with live betting. This was made a practical possibility by sports betting sites operating online, where centrally quoting live odds becomes much easier.
Now, it’s possible to bet on the next goal scorer, the final result, the next point winner - all while the sporting event in question is in progress. Cash out is another development on the theme, giving players the ability to settle their bets early for a fraction of what they would otherwise win.
Cash out works by offering players a settlement fee, a price at which they have the option to get out of the bet. So, if you stand to win £10 on your bet, you might be offered an early cash out of £5 along the way. Take the cash out, and you bank £5 for your bet and exit the position in the black.
Even if you would have eventually lost your bet, the cash out closes your exposure - you take the cash out amount and move on. Similarly, if you take a cash out too early, and the result comes up for you, hard luck - you settled for the early offer.
This changes the dynamic between bookmaker and punter, as well as often skewing the odds and probabilities you have to contend with. Depending on your betting strategy, there may be times when a cash out offer looks more attractive than sticking around until the end. But there are a number of factors to consider when weighing up cash out offers that can make this a bit more complex.
Cash Outs are the bookie’s attempt to reduce their liabilities and wrap up positions early, often in response to changing outcomes in the betting event itself.
Put yourself in their shoes. With any fixture, you have bets on both sides of the equation. A simple win or lose
At the start of the fixture, it could go either way, and there is no additional information to factor in when calculating the odds of a result either way. If one team scores, this calculus is changed entirely, given they now have a definite advantage in the battle to win the fixture. In other words, the true odds of that outcome have just become much shorter.
Now, you are looking at an increased likelihood you’ll have to pay out on all bets on the Win side at 100 percent. But as a crafty bookie, you start offering cash outs at 30 percent. If the result stays the same, this is saving you money. If the result goes further in your
If the result goes against you, it’s a loss on a position that would have otherwise come good, but more often than not the
|Site||Partial Cashout||Available Sports||Disallowed Bets|
|All Sports||System bets, Forecast/Tricast Bets, Acca Bets, Placed with System Bets via the 'Multiples’ section, Free bets|
|Australian Rules, Cricket, Basketball, Football, Horse Racing, Rugby League/ Union, Baseball, Tennis||Free Bets|
|All Sports||Free Bets, Accumulator Bets|
|Football, tennis, cricket, rugby league/union, boxing, baseball, basketball, American football, and ice hockey.||Multiple bets e.g. |
|Football, Tennis, Horse racing, Golf, Basketball||Antepost bets, Enhanced specials|
|All Sports||Bet Bundles, Enhanced Multiples|
|All Sports||Free Bets|
|Football, Tennis, GAA, Snooker, Darts, Rugby, Cricket, Baseball, Basketball||N/A|
|All Sports||System bets, Free Bets, Bonus Bets, Combi+ Bets, Promo Offers|
|Football, Rugby, Tennis, Darts, Snooker, ||Free Bets, Promo Offers|
|All Sports||Accumulator bets, Free bets, Enhanced odds|
|Selected Football markets, Single Sportsbook bets, Sportsbook accumulators||Full cover bets (e.g. |
|All Sports||Accumulator bets, Free bets, System bets|
|All Sports||Accumulator bets, Free bets|
|All Sports||System Bets, Forecast/Tricast Bets, Outright Winners, Promoted/Relegated Bet Types|
|All Sports||Free Bets, Promo Offers|
‘Cashing Out’ is a relatively new angle to online betting, first pioneered by Betfair Sports, and introduced in 2011. Their internal data shows that cash out alone was the second most popular reason given by new players for signing up - a small hint at just how popular betting in this way has become. Betfair
Before too long, they were joined by Bet365, who expanded and enhanced the offer to cover an
The cash out feature was a huge marketing advantage for Betfair, playing a large part in its rise to become one of the internet’s top sportsbooks. But once its leading rivals had hopped on the bandwagon, a new innovation was called for, and thus the partial cash out was born.
Partial cash out allows the
Some bookies, like Betfair, allow you to cash out the exact percentage you wish. Others, including Coral, only allow you to cash out in increments of 10%.
It can be difficult to predict how your betting slip will pan out. Sometimes, taking an early
The best way to think about Cash Outs is to consider them an insurance policy. If you’re feeling nervous your ticket will come up, and you’re being offered a decent amount, it may be worth plumping for the early settlement and moving on to your next bet.
Whatever call you make, best practice dictates that you should record your decisions and think about whether you made the right move or not. This can help you start to develop a more intuitive feel over time for using cash out to your advantage.
There are several reasons why you may not be able to cash out on a bet you’ve placed.
Incompatible Market – If you are not presented with a
Incompatible Bet – Another reason you might not see cash out is
Free Bet Restriction – Cash out usually isn’t available on free bet offers, because it would give punters the opportunity to take advantage by cashing out and claiming most of the free bet amount without any risk. However, it might be offered if the cash out exceeds the free bet amount, with only the
Market Volatility – Cash out calculations are based on up-to-the-second analysis of match events and
It’s too late – Even cash out can’t help you if there’s no longer any chance your bet can win. If the
Knowing that cash out operates on the latest technology and moment-to-moment calculations, bookies are careful to strictly limit their liability in the event of a technological or market failure. In most cases, if there is a problem with the cash out feature the bet will stand on the final result.
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