Cash Out Feature Guide

Isn’t it natural to wish for second chances when things do not go your way in life? You might not be able to change your past decisions, but will certainly look for ways to turn the situation in your favour or at least minimise possible damages. The concept of Cash Out, in the world of online betting, holds a similar purpose. It is a functionality that adds more flexibility to the process of betting. 

This blog aims to serve as your Cash Out feature guide, to clarify your doubts and misconceptions regarding the concept, and when or how to avail such an offer.

What Is a Cash Out Bet?

A ‘Cash Out’ or ‘Buy Out’ is a betting feature offered by bookmakers, usually in games/sports where outcomes might be different from a lot of predictions. This feature allows punters to settle a bet before an event concludes, by accepting a payout less than the potential winning amount. 

A bettor can benefit from opting for a Cash Out, in the following ways: 

He/she can receive a payout before the event concludes, even though the amount might be less than what he/she initially invested in the bet. 

It is a way for punters to minimize losses before an event concludes, and outcomes seem to be playing out differently than what they initially predicted. 

The concept of Cash Out stands on a simple understanding that in the pursuit of predicting the unpredictable, decisions need not be definitive or irreversible. 

Betting has evolved into a leisure activity for patient and analytical minds to engage in a competition of intuition, foresight, and knowledge while enjoying the thrill and making monetary gains upon winning. It is only fair that the whole experience offers more flexibility to the betters in terms of decision-making.

Understandably, because of its availability in an ongoing event, we can consider Cash Out as a live in-game betting option. However, betting sites may also offer Cash Outs in the middle of a season for long-term or future bets, like the best player or the winning team of a tournament.

When Does Cashing Out Seem Reasonable to a Punter?

When a bettor ends up lacking confidence in his initial prediction because of an event proceeding towards a different outcome, a Cash Out can seem the most reasonable to him/her.

Cash Out allows bettors to minimize losses (or lock in a profit while it is possible), by winning back a part of the invested amount (or even a bit more than it, in case the situation is in favour of the bet), as opposed to losing it all once the event concludes. 

It acts as a second chance to turn the situation slightly in your favour. You don’t have to go through a state of hopelessness and helplessness till the event concludes, knowing the outcome is going to be different from your prediction.

Types of Cash Out Offers

The following are a few instances of ‘Cash Out’ options offered by sportsbooks.

Bet-in Play Cashout

Bet-in play Cashout is the decision to take a ‘Cash Out’ offer based on your apprehension that an outcome may turn out to be different from your prediction, even though things appear to be in your favour at the moment. 

If you have enough confidence in your research and intuition, this type of Cash Out can be a wise decision. Such ‘Cash Out’ offers usually return a larger amount than last-moment cashouts, as you are giving up on winning the bet even when the situation is favouring you, based solely on your intuition.

Partial Cashout

A partial cashout offer allows you to keep a portion of your bet amount as an active bet, and the other portion for cashing out if a situation calls for opting it.

This option when exercised by a bettor, not only minimizes his/her losses by securing a portion of his/her bet but also relieves him/her of any psychological turmoil or feeling of regret by keeping the remainder bet amount active, till the event concludes.

Sports Where Cash Outs Are More Common

Sportsbooks offer Cash Out options more commonly for sports that have uncertain twists and turns, and multiple factors influencing their outcomes. A few examples of such sports are cricket, football (soccer), basketball and tennis.

How Do Sportsbooks Generally Formulate Cash Out Policies?

Policies regarding Cash Out can differ from one sportsbook to another depending on their business priorities, but some common factors are mentioned below.

Sportsbooks usually offer cashouts for in-play bets, as well as bets on the outcome of an ongoing match. Online sports betting platforms generally offer live streaming of matches so that bettors can stay updated on the odds as the matches play out. Cashout offers come with certain rules, like the maximum time limit for deciding a cashout during an ongoing event.

When Should a Punter Consider Cashing Out?

You should decide on a ‘Cash Out’ only when you are certain that your initial prediction will go wrong. This confidence should be backed by your knowledge of the sport, player performance records, identification of patterns, analytical inferences, and the resultant intuition. 

In simple terms, backed by your knowledge and analysis, when you feel sure that the team/player you initially bet on will lose, the decision to cash out can benefit you. When your intuition turns true, accepting the cash out proves to be the only way you could have minimised your losses.

Is it Wise for a Punter to Accept a Cash Out?

So far, we have established that the ‘Cash Out’ offer is like a second chance to minimise some losses. But it is always preferable that things do not get to this point, and situations favour you on the first chance itself. 

To maximise winning chances of your first prediction, it is always advisable for punters to stay thoroughly in touch with the sports they bet on. You should know every rule, track every player’s recent performance, and understand their playing patterns to make informed predictions. 

While there are benefits of cashing out bets when odds are not in your favour, frequent cashing out is not considered wise or ideal punting behaviour. It shows a lack of confidence on your part regarding your initial bet. 

Cases Where Cash Out Offers Might Be Unavailable

Bookmakers might not offer cashouts in sports where the conclusion is reached rather fast. For example, the fast-paced nature of races (horses, hounds, cars, or bikes) doesn’t allow much time to analyse whether one’s initial prediction is going wrong. Thus, offering a cashout option here is impractical.

Unexpected in-play events like player substitution, retirement due to injury, etc. can stall cashout offers, till the generation of a new offer.

Frequent cashout requests from a single punter’s account can result in the removal of cashout offers for that account. Remember, it is in the interest of the betting business that punters with lower confidence keep playing without opting for cashouts.

How to Avail a Cash Out Option?

Most online sports betting platforms run their businesses through both websites and mobile apps. Usually, you will find ‘Cash Out’ options appearing in the form of a clickable button beside records of your placed bets in the respective user interfaces of these websites/mobile apps.

How Are Cash Outs Evaluated?

Usually, the cashout amount represents the current value of a bet, as determined by the sportsbook. To calculate this value, sportsbooks consider multiple factors including real-time odds, events that strongly impact the outcome of the original bet, etc. 

How Is a Cash Out Offer Profitable to a Sportsbook?

The betting businesses (sportsbooks/betting sites) also profit from offering Cash Outs, as bettors get less than the maximum potential winning amount. The idea of gaining something as opposed to nothing also pleases bettors, and they look at it as a much-needed flexibility in the whole betting experience.

Is Cash Out a Definitive Offer?

‘Cash Out’ itself is a second chance to minimise losses caused by your initial prediction, so the offer it presents is definitive. You cannot change your decision or request renewal of the same bet after accepting a cashout. 

Final Word

We hope this  Cash Out feature guide equips you with the right frame of mind to accept a cashout while betting on an ongoing event. Remember, cashing out once in a while, backed by your intuition can save you from suffering losses. But, an unthoughtful repetition of the behaviour can lead to the removal of cashout offers from your account.