Welcome to our cash out betting guide, with most online punters that have an online bookmakers account will have come across the cash out function on their bets but the question is do you know how to use it properly?
First, you need to understand what the cash out option is and how it works.
What Is The Cash Out Function
The cash out your bet function enables you to take a profit or loss while the event you have bet on is still in play, the amount will go up and down in real-time based on what is happening in the event.
Cash out bet means taking your winnings or losses now based on your offer, think of it as a deal or no deal for sports betting.
what are cash out bets?
Cash out bets are bets that enable you to cash them in at any time after you have placed them, whether for profit or loss, half way through a horse race or a football match.
Some bookmakers only offer certain markets as cash out bets and will usually state that cash out is available or not available before you place the bet with them.
How are cash out bets calculated?
Bookmakers calculate your “cash out offer” based on how likely your bet is to win now that the event is “in play”.
Example
Let’s say that you place a £10 bet on a 9/1 horse your payout would be £100 if the horse won the race, this is a traditional bet, but with cash out early let’s say that your horse is in the lead at the final furlong and there is only 1 other horse with a chance.
Your cash out offer would likely be between £40-50 before the final furlong has even run, the question is do you take it or let it run and risk it?
How To Use Cash Out Early Properly
Using the cash out function with bookmakers correctly is not an easy task sometimes you can let your heart get in the way instead of using your head.
Betting should have the end goal of profiting from your choices so you need to know when to cash out and when to let bets ride in order to improve your overall profitability.
There are some cash out strategies that you can use in order to do this, to explain we need to use some examples in this cash out betting guide in order to make it a bit clearer.
The Best Cash Out Strategy Example
You place a £10 bet on a horse race on a 5/1 horse and the race is over 2 miles on the flat, your horse is running well and there’s only half a circuit left to go and there are only 2 other horses in with a chance, your cash out offer is £22.
There are 3 options you could take…
Option 1 – you cash out the bet and secure a £12 profit regardless of what happens, except your horse then goes on to win and you would have had another £38 and would have had £50 profit in total.
Option 2 – you do partial cash out (many bookies now offer this) for your initial stake of £10, and let the rest of the bet ride meaning you don’t lose anything if the horse doesn’t win and if it does you secure a larger profit.
Option 3 (Bet choice long term)- you do partial cash out for £15 and let the rest of the bet ride meaning not only do you make a definite profit (greening up) regardless of what happens but if the horse does go on to win you make a bigger profit!
Smart Cash Out
Smart cash-out betting is the way forward to improve your overall profitability, you don’t want to risk money when you don’t have to.
Yes, it will require some good judgment depending on what sports you bet on but you can do it when you put your mind to it.
Football is probably the best sport for cash-out betting as you have plenty of time to assess how things are going in the game and adjust your strategy to suit.
Horse Racing wise you want to try and bet on longer distances and not over jumps to avoid any nasty surprises, 5 furlong races are over way too quick for you to even think about what you are doing properly.
Best Partial Cash Out Bookies
There are a number of partial cash-out bookmakers available online in the UK and Ireland but we recommend BetFair, Bet365, and William Hill.
These bookmakers will allow you to cash out at any time during many sporting events and update their offers in real time.
They offer maximum flexibility with your bets as well as the best odds guaranteed which is another must for any online punter.
Summary
Cash Out Betting is a great tool when used correctly, try to eliminate as much of the gamble out of your bet as possible and focus on securing profit.
If you want to improve your betting experiences overall learning to control urges and eliminating risk is paramount.
Thanks for reading our cash out betting guide we hope you find it useful, if you did please share it on social media with your friends and family.
