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Best Betting Sites New Zealand » Betting Guide » How Does Cash Out Betting Work in New Zealand?

How Does Cash Out Betting Work in New Zealand?

Publish Date: 26/05/2020
Fact checked by: Cora Williams

Understanding The Cash Out Option

Understanding the cash out option is an essential part of modern sports betting, and we are here to answer all questions of ‘How does cash out betting work?’. This means that we’ll explain cash out betting in simple terms so that you have an easy way of understanding the cash out option to put it into practice at all of the best betting sites in New Zealand.

We can’t answer the question of ‘How does cash out betting work?’ without giving you the main advantages and disadvantages of using this betting option. After all, our online betting guide for New Zealand can answer questions like ‘What is 1×2 betting?’ and ‘What is Asian handicap betting?’ so we may as well explain the pros and cons of cash out betting.

So regardless of whether you know how betting odds are calculated or how bookmakers make money, be sure to keep reading to see how to cash out your bets early.

How does cash out betting work?

Cash out betting gives you the chance to withdraw your bets before the conclusion of a sporting event. This means that you could cash out anywhere from the first few minutes of a rugby match to the final day of a cricket Test match.

But how does cash out betting work in terms of helping you make money from your bets? By cashing out your bet early, you could enjoy much more control over your sports bets.

So if you had put down a bet that looked like it was going to win, you could cash your bet out before the sporting event had finished to make sure that you keep whatever profits you’d made. You wouldn’t get the same amount of winnings had you stayed in for the duration of the sporting match, but at least you’d avoid that agonising last minute defeat.

But cash out betting also works the other way too. So if you’d taken a sports bet that was going horribly wrong, then you could cash out your bets early and still keep some of your betting stake.

Understanding the cash out option with examples

If you are still asking how does cash out betting work, it might be useful to give you a few concrete examples.

Let’s imagine that you’d gone to a betting exchange in New Zealand and bet on the All Blacks to beat England in the Rugby World Cup. After a good first half, the All Blacks were 19-7 up, but the team had suffered a couple of nasty injuries to key players. This is where you could try cashing out your bets to cling onto whatever profits you’d made so as to avoid disappointment should England stage a comeback.

Conversely, if you’d bet on New Zealand to win against India in a T20 international, but the Black Caps had slumped to 70-6 in their innings, you might want to cash out your bets early and still hang on to a share of your initial betting stake.

Cash out betting has become hugely popular over recent years as it gives you some excellent ways to gain a little more control over the fate of your sports bets. Just as you don’t need to worry about questions like ‘Is online gambling legal in New Zealand?’, you’ll find that cash out betting makes putting down a standard sports bet feel far less risky.

It’s something that’s also grown in popularity at many sports betting sites which is more than can be said for the best strategy for no risk matched betting New Zealand has to offer.

It’s fair to say that you might need a little skill to get cash out betting right. After all, timing is everything with this betting technique. But if you time it right, then cashing out your bets can be a great way to make some decent profits before that next inevitable batting collapse.

Above all, cash out betting just gives you way more flexibility with your sports bets. It allows you to be more speculative to bet on longer odds and then either stay in for the duration or get out early if things are looking bad.

Reasons not to cash in your bets too early

Now that you know the answer to the question of ‘How does cash out betting work?’, you’ll probably be keen to put this betting technique into practice. However, we should let you know that there are a few drawbacks to using cash out betting.

Firstly, you might find that cash out betting won’t work for certain kinds of sports bets, just as it won’t obviously work at even the best online casino in New Zealand. For sports like horse racing and greyhound racing that don’t feature live betting, then there is a good chance that you won’t be able to cash out your bets after the race has begun.

Secondly, you might discover that a bookmaker withdraws the cash out option at just the time when you want to get out of your bets early. It’s ultimately up to the bookmaker as and when they allow you to cash out your bets, and not even using the best guide for making bookmaker complaints New Zealand has at the moment will be able to help you here.

We should also note that cash out betting might not be a good idea if you are mastering the basics of sports betting. So if you are still asking ‘How does cash out betting work?’ or ‘Which bookmaker is the best for beginners in New Zealand?’ we’d recommend that you get used to how normal single bets work before you start cashing out bets halfway through a match.

Plus we should say that there’s nothing more annoying than cashing out your bets early only to realise that you’d have made much more money if you had actually kept your bet in for the duration of the sporting encounter.

How to cash out your bets

Before you even think about cashing out your bets, you will need to deposit money into a betting site in New Zealand to fund your original sports bets. Most punters will probably want to use either the best betting sites with credit card in New Zealand or the best betting sites with bank transfer in New Zealand.

However, fans of ewallets might want to use either the best betting sites with EcoPayz in New Zealand, the best betting sites with Neteller in New Zealand or the best betting sites with PayPal in New Zealand. Another option would be to deposit at the best betting sites with Skrill in New Zealand or there’s even the best betting sites with Bitcoin in New Zealand too.

Once you’ve picked your bookmaker and made your deposits, you’ll just need to put down your sports bets. After the sporting event has begun, you’ll commonly see a cash out option in your bet slip. This should automatically show you how much of your original betting stake you’d retain should you decide to cash out your bet early.

Some bookmakers will also give you the option of partially cashing out which would mean that you’d get to keep some of your original stake in the bet. Once you’ve clicked on the cash out button, then whatever remains of your original stake will return to your account along with any winnings that you’d picked up.

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