Betting Sites that Offer Cash Out
The option to cash out your bets is becoming increasingly popular and many bookmakers are now offering this service. If you do not know, cashing out a bet means that you take the offer given to you at the time and this is settled straight away, regardless of how the event finishes. With more people looking to cash out, or wanting the option to cash out, more bookmakers are now offering this service to their punters.
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How Does Cash Out and Partial Cash Out Work?
Cash out is the traditional way to do this, and it involves the entire stake you placed originally. This is offered by many bookmakers and if you choose to do this, your bet is finished and you are given the cash out amount you took. If your bet is in a strong position you will be offered a good cash out amount that will give you a profit, while if you are in a bad position you will more than likely be offered less than your stake back.
One new way to use the cash out function is to use partial cash out to get part of your funds, but leave some of your bet running. This is a great way to give yourself the guarantee of some profit, but keep part of your bet running in the hope of it winning and you winning some more cash. When partially cashing out your bet you will get the opportunity to choose how much you want to cash out and how much you want to leave running, this flexibility is great for punters.
How do I Set an Auto Cash Out?
Auto cash out is something that some bookmakers allow you to set up and it is a great feature if you want to secure a set amount of profit from your bet, but you are unable to sit and watch the cash out totals. When setting up auto cash out you do this before the event begins, and you set an amount you would like to cash out at. For example, if you are staking £10 and you stand to win £50, you may set the auto cash out to £40, if the cash out offer gets to £40 then you won’t need to do anything, your bet will automatically cash out for you and you will be given the £40 winnings.
The one barrier that prevented a lot of people from cashing out their bets was that they need to be online and watching the cash out figures as they changed. This is now no longer needed thanks to the creation of auto cash out by the bookmakers and this is something you should use to your advantage. If you want to cash out a bet then have a think beforehand about the figure you would be happy to take and set things up, so you can sit back and watch the action unfold without worrying about your bet.
Is It Possible to Cash Out on Your Mobile?
Mobile betting has transformed the way we all place our wagers and when you are using your mobile you can cash out any bets you have placed. This can be full cash out or a partial cash out if it is available, so you have the ultimate flexibility to do exactly what you want to. Many people lead very busy lives and try to place bets around their commitments, by being able to cash out on your mobile phone you will be able to keep an eye on your bets while you are out on the go, and make the right decisions through your mobile device, keeping one step ahead.
Cash Out Example
If you are unsure how cash out works and the benefits of cashing out your bets then take a look at the example below to see it working for the better, and working out for the worse.
You place a £10 bet on a football team to win who are price up at 3/1. The returns on this bet if the team wins are £40, including your stake back. Your team go a goal ahead and lead the game 1-0, you are offered £30 as the cash out figure, meaning you will win £10 less than if they hold on and win the game. You decide to take this figure and you are paid out £30 from your bookmaker. Later in the game the opposition equalise and the game ends in a draw. Had you not cashed out your bet, you would have lost £10 but because you cashed out you made a profit of £20 by getting the cash out offer of £30 from your bookmaker.
Again you place a £10 bet on a football team, the team is again priced up at 3/1 meaning you stand to win a total of £40 back if they are victorious. They go ahead and lead the game 1-0, and after this goal you are offered a cash out amount of £25 for your bet. You decide to take this amount because your team are not playing too well at that stage and you don’t want to risk them conceding a goal. After cashing out your bet and taking the £25, your team go on to score a second goal and they win the game 2-0. This means that your bet would have won if you had left it and not cashed out, so you have cost yourself profit of £15 on the bet. You have still won £25 back from the bookmaker, but had you left it you would have won £40 back.