What is cash out?
The cash out feature is becoming more and more popular and many bookmakers started to offer this feature to their clients. Basically, cash out gives you the opportunity to close your bet and get your money back with certain profit or loss, before the event is over. The amount that you will be able to cash out depends on the current live odds compared to the pre-match odds you have taken. Let's take a look on more detailed example with cash out options.
How does it work?
Let's say you have placed a bet on a match between West Ham and Manchester United from the Premier League. Your bet is that Manchester Utd. will win and the odds you took were 2.00 before the event had started. The event starts and Man Utd. scores a goal in the 34 min. In this case your bet is more likely to be winning, the odds for Man Utd. will drop and you will be able to cash out amount, higher than your initial stake, minimizing the risk.
But let's say that West Ham scores the first goal in the match - then, using the cash out feature, you will be able to withdraw an amount lower than you initial stake, yet ensuring you don’t lose it all (if West Ham are to win the game).
It is actually very easy to calculate yourself the amount and respectively the profit or loss that you will be offered to take.
This is how the cash out offer looks like:
((Initial bet odds / Current in-play odds) x Initial bet stake) – Initial bet stake
Partial cash out feature
Some bookmakers have taken a step even further by offering partial cash out as well. This means that you can withdraw just a percent of your initial stake and keep the rest in play.
The formula for calculating a partial cash out offer is the same, but instead of your full stake, you put the amount you want to withdraw.
((Initial bet odds / Current in-play odds) x partial bet stake) – partial bet stake
What are the pros and cons?
The cash out option gives you more control over your money and bets and allows you to assess the risk real-time and decide whether your bet is more likely to win or lose. Of course, in some more dynamic games you need to be very fast to react and make your decision as the odds and respectively the possible cash out amount might be changing very quickly. For example, in tennis, live odds are changing pretty fast and you need to act fast, as well.
You can also check out our bookmaker review section in order to find which bookies offer the best cash out features.