How To Make Money With Cash Out: Best Cash Out Sites
Betting guide about Cash Out: When, where and how to use it to your advantage (with examples)
We’ve put together a short betting guide for those of you that are wondering what Cash Out is all about, it’s simple really. We’ll not only explain how Cash Out works: we’ll also provide real examples to make things easy to grasp.
Punters had to Cash Out manually in the old days, but now everything can be done with just one click in a few seconds and the greatest bit is that cashing out these days doesn’t require extra funds, so even if you are all-in you are able to close the bet.
However, this new feature has stirred some controversy amongst punters. And we’ll explain why…
So let’s find out when it’s best to close your bets and which bookies offer the best Cash Out feature!
Quickly navigate to your desired topic:
- What is Cash Out In Betting?
- Betting Sites That Offer Cash Out
- How To Make Money With Cash Out
- Cash Out Will Cost You Money
What is Cash Out In Betting?
Cash Out Betting Explained: The Cash Out feature allows the punter to close a bet before the events on the bet slip have been settled, regardless if the matches have started or not. You can close the bet whenever the respective market is not suspended (it tends to happen a few time during live play), unless your bookmaker decides otherwise.
Generally, bettors use this function for one of two reasons: either to end the excitement and land a profit before the final result is decided or to minimise losses when they foresee failure. The amount you are offered when using the feature will depend on the likelihood of the bet to win during that point in time. In-play markets can be pretty volatile during the early stages of the event, hence why many punters have developed a habit to often inspect the Cash Out value during matches. But let’s take a couple of basic example to set things clear from the beginning:
Cash Out example #1: You bet on Manchester United to beat Arsenal. United go 1-0 up after 75 minutes and their chances on winning have drastically increased, as well as the probability of your bet to win, so at this point the bookmaker will offer you a higher sum of money than your originally wagered. If the Reds go 2-0 up 10 minutes later, then you’ll most likely be able to close the bet and obtain around 95% of the potential winnings.
Cash Out example #2: You bet on Manchester United to beat Arsenal. Arsenal go 1-0 up after the first 45 minutes, and their chances of turning things around are slim. The odds moved in Arsenal’s favour and the odds against your initial bet. At this point, you might consider cashing out in order to minimise losses if you don’t feel that the Gooners will perform a comeback in the second half. The sum offered to you at this point to close the bet is based on the difference between the initial and the current odds, therefore you should be able to recoup a portion of your initial stake even if things go pear shapes.
Partial Cash Out gives you more control over your bets in the sense that you can select what percentage of your bet you want to cash out and leave the rest to run. Unlike the standard feature, Partial Cash Out allows you to manage the risk/reward ratio
Automatic Cash Out is a great feature that enables you to schedule when the feature will be activated. In other words, you can set a threshold, a sum that you will be satisfied with, and if the match goes your way and the reward matches your setting, the bet will be automatically closed and the winnings will be instantly delivered to your betting account.
Don’t let yourself be confused by those bookies that call the function Cash In instead, because it works the same way. Each betting site offers different options and terms to which sports and markets you can use this feature in, so it is advisable you do your research first in order not to be let down by your expectations, which might not match the reality offered by your bookie.
Betting Sites That Offer Cash Out
Although Value Betting and Cash Out don’t go along together, there are moments when punters can definitely benefit from this controversial feature. We encourage responsible gambling so we’ve put together a list of top online sportsbooks where Cash Out is available pre-match and during live betting.
These are our preferred Cash Out bookmakers in 2018:
Bet365 Cash Out: offers full and partial Cash Out for several sports & markets – Visit Bookie
William Hill Cash Out: available for a large range of sports, counting darts & snooker – Visit Bookie
BetVictor Cash Out: offers full and partial Cash Out for major sports & great odds – Visit Bookie
888sport Cash Out: the feature can be used even on goal totals & handicap markets – Visit Bookie
NetBet Cash Out: offers full and partial Cash Out for single & acca bets – Visit Bookie
Betfred Cash Out: expressly recommended for greyhound & horse racing – Visit Bookie
Of course there are a few more betting sites with Cash Out or Cash In features, such as Betfair, Paddy Power, Sky Bet, Leo Vegas & Coral, along with others, but we’ve carefully analysed the UK betting market and preferred the ones featured above.
How To Make Money With Cash Out
Any profitable Cash Out, even if it’s an early one, will help you secure a gain without having to wait until the end of the match, but you can’t be successful in the long run if you are using the feature randomly. That’s why the need for a Cash Out strategy becomes crucial. At the same time, cashing out before you lose or minimising your losses can be a good idea, as long as you’re following a plan of course. Basically, you need to figure out a profitable way to introduce Cash Out in your money management strategy.
Yes, it’s true, the Cash Out feature comes at a cost, and we’ll discuss this in detail below, and the function might also takes the fun out of your bet, but you can use to your advantage if you do your homework. To give you an example of how you can profit from this alluring betting feature, let’s just think about a six-fold football accumulator bet on a Champions League night that contains only selections on the Over 1.5 Goals betting market. The average odds for this type of bet should be around 1.20 (1/5), so the average odds of such a bet slip should be around 3.00 (2/1).
Now, if half of your games have already had two goals each in the first 60 minutes, you should be able to close the bet for a profit. So basically, you only need three out of six winning selections to be able to land a small profit. Not a bad way to make money with Cash Out, huh?
Still, Cash Out can be useful for singles, not only for multiples bets. Maybe you’ve missed something important while crafting your pre-match analysis – you can close the bet and fix it, and maybe place a different wager with the funds from the cashed out bets. Also, your team could be leading, but you’re noticing that danger is just around the corner so you’d prefer to take a small profit over nothing (knowing that most goals in football matches are scored in the last 30 minutes). It’s better to be safe than sorry!
Stats can also come in handy when it comes to Cash Out in-play. By studying teams or athletes you can base your decisions on numbers. Talking about football betting, imagine how you could profit from Premier League betting knowing how each team performs in the various time intervals. There are teams that score early, others that concede before half time and other that score or concede often during the last 15 minutes. All this data will definitely help you put the Cash Out function to better use.
Cash Out Will Cost You Money
Have you ever wondered why most licensed and regulated online betting companies offer the cash out option? There is a reason why so many bookmakers have quickly adopted this trend. Surely, nothing comes up on the online bookmakers’ website to help the punters win more…
Obviously, there’s a catch. If you are a fan of using the feature then you should be wondering how Cash Out is calculated. This is how it works: Each time you choose to Cash Out you are basically placing a contradictory wager to your initial bet, which means that you are basically paying the bookie’s juice (profit margin) twice.
In other words, if the initial and second bet both had a 95% payout you’ve lost 10% value when closing the bet. However, in some cases the cash out option has a higher percentage of overround calculated into it, meaning that you’re losing even more. And that’s the math for single bets! If we’re looking at footy acca’s then we’ll see that things are even worse for the punter, hence why most pro punters only place single bets. So think twice before clicking the Cash Out button next time!
The truth is that Cash Out pays less than fair value and you would be better off if you would place an opposite bet with another bookie that’s got better odds for the corresponding selection – this is where odds comparison tools come handy. And for those of you who are wondering: Yes, performing the old school manual Cash Out is still the better option (for those who can afford it).
In the end we’re not telling you not to use this feature, but to plan in advance to make sure you only use it to your advantage. One thing is for sure: You are doing it wrong if you are continuously considering whether to close the bet or not. The Cash Out feature can be addictive… don’t fall for it. Online gambling should be fun, so make sure you keep things that way!