September 27, 2018 | In: Articles
The role that bookmakers offer to close a bet before the assumption established in the selection is met to ensure greater control over bets.
What is Cash Out? The Cash Out is a utility offered by the bookmakers to close a bet before the condition of the bet or the end of the sporting event in which we have bet is fulfilled. When closing it before the assumption that we expected, the amount of money we receive varies depending on how the event goes.
Sometimes it receives other denominations such as “close bet”, “immediate payment”, “early closing”, “buyback” or “cash in”, introducing the latter the nuance of referring to bets that are made live.
What is Cash Out used for?
The Cash Out is used both to ensure benefits if the event is in our favor, and to minimize losses if it is set against. In this sense, it facilitates greater control over the bets and the money that is put into play.
Ensure benefits: We bet on the victory of a tennis player in a semifinal of a tournament at 2.00 odds and our tennis player wins the first set. Having begun to track a possible victory, the bookmaker offers us to close the bet at that time, but with some benefits lower than those involving the 2.00 odds. The positive aspect is that we guarantee the benefits, without having to wait for the whole game to pass, thus avoiding possibilities such as the rival’s starting the match.
Minimize losses: In the opposite scenario, our tennis player loses the first set. At that moment the bookmaker offers us 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 better option than waiting for the game to end, the defeat is consumed and we lose everything bet.
How to use the Cash Out?
More and more bookmakers include this option as a service to their users. Although in each of them there may be differences, in general the way of doing Cash Out is done through a button that we will find in the coupon of bets. It tells us 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 becomes effective and the amount indicated in our account is automatically credited immediately.
Some bookmakers like Betfair or Bet365 also offer the possibility of closing only a part of the money wagered, leaving the rest intact to close later or until the bet is resolved naturally.
We bet 10 euros for the victory of our favorite soccer team in their next match. At 15 minutes of the match, our team is ahead on the scoreboard. At that moment, we decided to insure and collect benefits, but not for the total of the 10 euros wagered, but only for 5 euros. The other 5 euros we can leave them in game until the end of the game.
Cash Out for beginners
As with any other betting method, a practice time is needed to fully understand how it works. For example, when closing the bet you must always bear in mind that bets take a few seconds to validate or that markets are suspended while the bookmaker renews the odds when a key event occurs in the sporting event. For this reason it is better to start betting low amounts until you are sure to master the system and get the expected results.
The most common mistake among beginners with the Cash Out is the imbalance between the trends to secure benefits and minimize losses. It is more common to tend to ensure benefits as soon as we get them, even if they are small, than to minimize losses when things do not go as we expected, which means that you tend to increase. This causes an imbalance that in the long term means that the benefits do not compensate for the losses. For this reason it is important to find a balance between the risk that is assumed when the bet goes well and when it goes wrong.
We made a bet of 10 euros for the victory of a football team. Our team is ahead on the scoreboard and we immediately close the bet with benefits, we will assume 13 euros of return, which is 3 euros of net profit. Then we made another bet of 10 euros for another team. In this case, our team fits a goal and gets behind on the scoreboard. Instead of closing the bet at the moment by minimizing losses, a beginner tends to rely on his initial analysis. In most cases, this will cause more losses to be assumed, obtaining in return, for example, 5 of the 10 euros wagered. The 5 euros lost are not compensated with the 3 euros obtained in the first game.
Bookmakers with Cash Out
The Cash Out is an application that offers a good number of bookmakers, but not all 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 in each bookmaker of the conditions with which they offer Cash Out.
Among the bookmakers that offer this service include: Bet365, William Hill, Betfair, Bwin. If you had to choose one as the best, it would be easy to point out Betfair and Bet365 as the main candidates. They have a wide range of bets in which to make Cash Out and, as mentioned, allow partial payments of bets.