Cashing Out

One of the most agonising aspects of sports betting can be when you are minutes away from getting the outcome you want and then a late twist leaves you with nothing. Alternatively, it might dawn on you straight away that your bet is not going to be successful and you regret putting down the wager long before the final whistle.

However, punters now have more control over their bets than ever before thanks to the option of cashing out, which is widely available online and adds even more appeal to in-play betting. The premise is simple and has quickly grown in popularity since being brought in by bookies.

• Example - You bet on Team A to beat Team B in a football match and they quickly race into a 3-0 lead after 30 minutes. Cashing out gives you the chance to take your winnings before waiting until full-time (and a possible upset).
• If you bet on Team B to beat Team A and find they are 3-0 down after 30 minutes, cashing out gives you the chance to get back some of your stake.
• The first four selections in a five-fold accumulator have all been successful, but you are a bit nervous about the final event. Cashing out lets you take the money you have won before the last wager has been resolved.

It is not possible to cash out on every single bet, but it is becoming increasingly common. The option will be displayed if is available and it can be found across a wide range of sports with most online bookmakers.

Another choice that some websites offer is for partial cash out, which lets customers get hold of some of their money if they are in a winning position whilst the rest of the bet stays in place. It may be that you wish to cash out a small amount of your wager, such as ten percent, or guarantee a much bigger proportion of the bet is won and just leave a low percentage on the original bet.

For each bet which offers cash out, it will be clear to see how much you stand to win, or the extent to which you can limit your losses, if you take up the option. The appeal for punters is obvious, as it adds control to the betting experience,  but it is also a very valuable tool for bookies.

By tempting customers to cash out, bookmakers stand to reduce their own losses when punters are on their way to winning a bet. A cash out value is calculated using the amount staked and the odds of the bet, both at the time when it was placed and at the time of the cash out, and bookies work out their figures to increase their profit.

• Example - You have placed a £5 bet on Team A to beat Team B at pre-match odds of 7/5, meaning that if they win you stand to receive a return of £12 and profit of £7. The team is leading 1-0 at half-time and you find the Cash Out value is £8.40, so you decide to take the money rather than wait and risk losing the bet. However, the bookies have calculated that in this scenario Team A would go on to win 75 percent of the time, meaning they would expect to pay out the full £12 return 75 percent of the time. As 75 percent of £12 is £9, the cash out value of £8.40 actually works out well for the bookie.

Bookmakers are also happy to offer cash out because it is so popular with punters and fuels business, and it is an option which denies you the chance to win as much as you would have if your original wager had been successful.

However, the flexibility it gives customers is undoubtedly a major positive and cashing out is set to become a more and more popular betting strategy in the years to come.