Right Here You Can Find Out All You Need to Know about the Cash Out Service

The ability to cash out your bet has become a sought-after service at online bookies. If you are new to sports betting, then you might be sitting there thinking these questions: What is it? Why cash out? How is the value calculated? As part of our betting guide series, we will answer all these questions.

What Exactly is a Cash Out?

The cash out service gives you the chance to take back a certain amount of money in order to close a bet you have placed before it comes to a natural end. One thing that you have to remember about this feature is that bookmakers will not offer it for all wagers that you place - it will depend on the sport you are betting on and the event. Thus, you should not place a wager with a cash out in mind. However, if you bet on football, you will be happy to hear that there is usually a cash out option available.

If you are not a huge fan of football, then you be glad to find out that a cash out option is also regularly given for sports such as horse racing, cricket, rugby, tennis, basketball, and boxing.

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Why Use a Cash Out Feature?

The cash out service is a great one to use if you believe that your bet will end up losing if you let it run its natural course. For instance, if you have a 6-fold acca on the go and you have got 5 out of 6 right, and the last team you need to win are winning 1-0, but it looks like they will draw or lose the match, then you should consider taking the cash out option.

The Different Types of Cash Out

There are two types of cash outs and these are a full cash out and a partial one. The former is the one that we just explained above. The bookie will offer what they class as a "fair cash out sum" and if you decide to accept their evaluation, the bet will be over. However, with the latter, you have the choice of accepting some winnings and leaving some behind so that your bet can carry on. When there is a partial cash out on offer, you will see a slide bar that you can move up or down. This will change the value of the cash out and what the new payout will be if the bet goes on to win.

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How a Cash Out is Calculated

The bookie calculates the cash out value by taking the potential winnings and the odds you would get if you placed the bet at that particular moment in time. For example, if you put a €20 bet for a team to win with odds of 5.00, and they are winning at half-time, the available half-time odds would probably be about 3.00.

A fair cashing out value can be calculated if you divide the potential earnings by the current odds. Thus, in this case, a fair cash out is:

€100/3.00 = €33.33

However, this will not often be the offer that the bookie offers as they always look to make more money. Therefore, for the above example, the cash out value given will probably be €30.

Cash Out Examples

Below we are going to give a detailed example of both types of cash outs so that we can be certain that you have fully understood.

Full Cash Out

Let us pretend that at the beginning of the 2020/21 Premier League season the odds for City to win the title were 3.00. You place a €100 bet, meaning you will get a profit of €200 if they go on to win. Three-quarters of the way through the season, City are at the top of the table, but Liverpool are close behind. There is a cash out of €190 and City's odds to win the title have dropped to 1.50.

A fair cash out value would be €300/1.50 = €200

You can claim the €190 and earn a profit of €90, which is not a bad profit. However, if City does go on to win the league, then you will have left €110 worth of profit on the table. However, if Liverpool goes on a winning streak and pip City at the post, the only thing you are walking away with is an account €100 emptier.

Partial Cash Out

Let us say that we have placed a €100 bet on a 4-fold accumulator with odds of 11.00, meaning that if you get all four selections right you will earn a €1,000 profit. Three teams win, while your final team scores early in their match. The bookie offers €490 to cash out and end your bet. However, you decide to go for a partial cash out and take €300, meaning the bet carries on. Since you decided to cash out, rather than another €800 (€1100 - €300), if your bet wins, you will receive another €300.

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Some Cash Out Tips to Remember

What is the ideal time to accept a cash out? This is a question all sports betting fans like to ask, but it is a question that has no right or wrong answer. For a cash out to be successful, you need good judgement and luck, which is something you always need on your side when betting on something.

However, if you take the time to do some homework, then you can improve your chances of cashing out your bet at the best time. If you have a bet in action and you are anxiously hovering the mouse over the cash out option. check the stats out before clicking it. This will give you a good idea as to whether the team you need to win is dominating. If they are, then let the bet run. However, if they are the ones being dominated, cashing out is the wisest choice to make.

Another thing you can consider doing when deciding whether to cash out or not is considering how previous bets have gone. If you have been on a bit of a winning streak lately, then you can probably afford to take a bit of a risk and let your bet run its full course. However, if your luck has been out, then you should think about cashing out so that you can regain some of your losses.

To Sum Up

We hope that you now know all that you need to about the cash out feature, and we hope that you can start to use it wisely. After all, our main aim in life is to provide our readers with helpful tips that will increase your odds of winning extra money as well as give you a better gambling experience. Use the cash out feature wisely.