Chris Hardy brings years of experience to Wetten.com, thanks to his strong background in journalism and online writing. Chris' career began nearly 20 years ago when he was hired to work for his local paper; he then made the move to web writing when he and his wife moved to the USA to be closer to family in 2017. This location change led Chris to develop a particular passion in US sports such as basketball and NFL (he remains a beleaguered Miami Dolphins fan and is sure their turnaround season will happen... one day) and he utilises his all-encompassing knowledge of US sports, along with soccer, when writing for Wetten.
How does cash out betting works?
When you are gambling online and seem to be losing a bet, understanding the cash out option can prove to be very useful. It can prevent that heart-rending feeling of losing a major stake. To avoid losing large sums of money, punters use the cash-out betting option that is offered by multiple online casinos. You might be wondering how does cash out betting work? Understanding the cash out option, that is, the basic concept behind it is quite easy. Cash-out is essentially taking out your money, that is your stake and your winnings, before the game finishes.
Learn about when to use and when not to use cash out betting.
Even if you are on a winning streak, betting is unpredictable and you never know when fortune will turn against you. In such conditions, the cash-out betting might prove to be the only way to salvage some part of your bet. This is the reason that understanding the cash out option is significant. Before understanding how does cash out betting works, you need to know that cash-out betting is an option that you can opt for at any time of your bet. You need to understand the dynamics and the right time to use it to maximize your profits.
You will find cash out betting as a feature of in-play betting. Cash-out betting would allow you to make a profit out of your bet even before the game ends. Cash-out betting simply means “ Take all your money while you still are able to.” This feature is a bit risk-aversive and hence, a popular feature. Punters typically look for the presence of this option in both the online and offline betting markets. Any bookie who is not offering this option is usually considered to be below average. The reason for its popularity is that using this option virtually eliminates all the uncertainty which is associated with the nature of betting.
However, it is quite understandable that your winnings will be quite lower than what you would have won if you stayed with your bet till the very end. This is true for most risk-aversive methods that punters resort to. However, if you are not willing to keep up the risk, cash-out betting still helps you be a little bit richer at the end of a betting game.
Cash-out Betting Example
Let us say that in a particular match, you bet on Manchester United, Stoke City, and Manchester City to win their respective games. You place three different bets. You bet INR 10 on all the three teams with the odds of 1/1, 15/8, and 3/1. If you win all the three chances that you have placed, you will necessarily earn about INR 230. Now, let’s assume that there are only 20 mins of play left.
Moreover, all the three teams are winning but only with a very slim lead. You can now use the option of cash out betting. The odds that will be offered would change. This is because the games are not done yet, and you already know the scoreline. So, what these bookies will do is that they will reduce the odds which they offer. In this particular case, the odds which they provide have reduced to give you only about INR 190.
So, you have only about 20 mins to decide whether you want to take that risk and wait till the games get over for that INR 230. But you might lose all your money if there happens to be a late equalizer. You can still earn a profit on your bet, and instead of losing INR 230, you only lose about INR 40 (230-190). This amount of flexibility is the reason why punters crave for the presence of this option.
When to use the cash-out feature
To understand when to use the cash-out feature, here is an example. So, let us assume that it is the derby day. Manchester United is taking on Manchester City in the Etihad Stadium, and it is half time. The lead is with City, and there is only one goal, which separates the two sides. You have already placed your INR 10 on 2.0 odds in favor of Manchester United winning this game.
Now the game has progressed, and there are only 10 mins remaining when you see Lukaku warming up. The City will now have a hard time defending this one-goal lead for very long. You will see that the odds have once again shifted in favor of Manchester United. Just as you see the shift in the odds, you should use the option to cash out and make a little profit also. So, it would be best if you cashed out at a time when the odds are moving towards your favor.
When not to use the cash-out feature
In the example that we used earlier, if that game would have gone differently, then you should not have used the function of cash out betting. So, let us say that United would have been crushing City with a goal lead of 2-3, and with just 10 minutes of regulation time left Manchester city gets a man sent off. Now would not be an excellent time to use the feature of cash out betting. The main reason is that now Manchester united is literally in the driver’s seat of the match.
So, it would be best if you let the bet run its course because you will end up winning your lottery anyways. If you use the option of cash out betting, in this case, you will lose money because the odds at which you will cash out will be less than the odds which you had placed your bet on. So, when the odds are looking to increase in your favor and only a few minutes are left, then you should wait for the sports to run its course. Rather than use the option of cash out betting and reduce your overall margin.
What other betting/casino guides & strategies are available?
By knowing how does cash out betting works and Understanding the cash out option you can reduce your risk while betting. However, you should also know when to use and when not to use the opportunity of cash out betting to get the best results.One aspect of cash out betting that you should always keep in your mind is that the odds which are offered will change with time. This means that your profit margin would vary depending upon the time you use the option of cash out betting. So, when opting for cash out, be wise. Only use this feature if you think you can enter a loss and the odds might go against you. Otherwise, you might end up losing out on potential winnings.