What is Cash Out? Cash Out is a feature offered by betting companies that allows you to close a bet before its predetermined outcome or before the event on which you have wagered has ended. By closing the bet early, the amount of money you receive can vary depending on the progress of the event.
Sometimes it is referred to as “closing a bet”, “immediate payout”, “early closure”, “buyback of bet”, or “cash in”, with the latter specifically referring to live bets.
What is the Cash Out used for?
Cash Out is used both to ensure profits if the event goes in our favor, and to minimize losses if it goes against us. In this sense, it provides greater control over the bets and the money at stake.
- Secure benefits: We bet on the victory of a tennis player in a semifinal of a tournament at a quota of 2.00 and our tennis player wins the first set. As we started to gain a possible victory, the betting company offers Philippines to close the bet at that moment, but with profits lower than those implied by the quota 2.00. The positive aspect is that we guarantee the profits without waiting for the whole match to pass, thus avoiding possibilities such as the opponent making a comeback.
- Minimize losses: In the opposite scenario, our tennis player loses the first set. At that moment, the betting house offers Philippines the option to close the bet, recovering part of the money we have bet. If we consider that our tennis player is not going to come back or that we have made a mistake in our analysis, it is a better option than waiting for the match to end, the defeat is consummated and we lose everything we betted.
How to use the Cash Out?
More and more bookmakers include this option as a service to their users. Although there be differences in each of them, generally the way to make Cash Out is through a button that we will find in the bet slip. It indicates the amount of money we will receive if we decide to close the bet. Once the button is pressed, the order to close the bet is executed and the amount indicated is automatically credited to our account immediately.
Some betting houses like Betfair or Bet365 also offer the possibility of making a 20% closings of only a part of the money bet, being able to leave the rest intact to close it later or until the bet is naturally resolved.
Cash Out for Beginners
Like with any other betting method, it takes practice to fully understand how it works. For example, when closing a bet, one must always keep in mind that bets take a few seconds to validate or that markets are suspended while the house updates the odds when a key event occurs in the sports event. For this reason, it's better to start betting low amounts until you are sure you have mastered the system and are getting the expected results.
The most common mistake among beginners with Cash Out is the imbalance between the tendency to secure profits and minimize losses. It is more common to tend to secure profits as soon as we get them, even if they are small, than to minimize losses when things don't go as expected, which causes them to increase. This imbalance results in profits not being able to compensate for losses in the long term. That's why it's important to find a balance between the risk assumed when the bet is going well and when it's going badly.
Bookmakers with Cash Out
Cash Out is an application that offers a good number of betting houses, but not all of them offer it in the same way. Some only offer it for very specific important events, others for the most popular main markets, etc. For this reason, it is important to inform yourself well at each betting house about the conditions with which they offer Cash Out.
Among the bookmakers that offer this service, the most prominent are: Bet365, William Hill, Betfair Sportium, Suertia, Luckia, 888sport, Paf, Marca Apuestas, Wanabet and Bwin. If we had to choose the best one, it would be easy to point out Betfair and Bet365 as the main candidates. They have a wide range of bets on which to do Cash Out, and as mentioned, they allow partial withdrawals of bets.