Some years back, sports betting sites on the Nigerian market offer “Cash out” (CO). If this feature has a real interest for your bets, it also has some drawbacks, and we will explain below.
What is Cash Out?
Cash-out is an option that allows punters to immediately recover a certain amount of their stake even before their bet is over. Concretely, when you play on a team or an athlete, you have the possibility of recovering a sum of money without necessarily waiting for the end of the game.
The amount of the cash out is then calculated automatically by the bookmaker and changes according to the turn of the event. The more likely your ticket is to be a winner, the higher the payout will be. On the other hand, if your bet is badly loaded, the amount will be low, or even zero. The CO thus offers maximum flexibility to your sports betting. It allows you to either reduce your losses or secure your winnings.
The Sports and Types of Eligible Bets
Cash-out is generally offered on most significant disciplines (basketball, football, tennis), even if they are championships on the other side of the world. It can be used on single, combination, and system bets.
Knowing the bets concerned will suffice to see if the symbol of this insurance offered by the bookmaker is available next to a bet. In principle, the types of bets open to CO are essentially on the most popular stakes: 1X2, exact score, or even number of goals/set scored.
When Should You Cash Out?
Most of the time, bettors cash out when they start to doubt the outcome of the event they are betting on even if from betting sites. It can be validated before kick-off but also live. All in all, cash out can be beneficial on your combination bets. By managing to find four predictions out of five matches, your potential winnings will indeed already be exciting.
It’s up to you to see if you prefer to go through with your bet at the risk of losing everything. In the context of a single bet, be careful! If you wish to cash out before starting a meeting, this “cancellation” has a cost since you will systematically recover a sum less than your stake.
Partial or Total Cash Out: What Are the Differences?
Usually, when you make a CO, your bet is fully suspended. Now, with partial CO, you can converse part of your stake on a bet while securing your potential profits. Roughly speaking, you get back some of your winnings, which would pay you back, for example, and you let your bet continue, but with a lower bet amount.
If your bet wins, your profit will then be calculated according to the initial odds and the amount of the stake left in play. This partial cash-out system gives optimum flexibility to punters. By choosing as they wish the percentage of cash out that they wish to make, they become real players in their bet.
Cash Out Suspended or Interrupted
During certain phases of a match, the odds fluctuate enormously depending on certain dangerous situations. The bookmaker may temporarily suspend the cash-out. The latter can also interrupt it a few minutes before the end of a meeting if he considers that the final result has already been achieved.
If this situation may not suit the bettor, it remains freedom of action enjoyed by the operator of sports betting. Do not hesitate to consult the general conditions of each bookmaker for more details on the cash-out modalities it offers.
Cash-Out: A Fake Good Deal?
A Means to Attract and Reassure Punters
Beyond offering its bettors an option to withdraw their stake or gain with this insurance is a way for bookmakers to attract new players. Indeed, beginner bettors can feel protected with the cash-out. In their eyes, the amount of uncertainty is somewhat reduced. The ability to recover at least part of their stake, if not more, is also a critical factor in approaching inexperienced bettors. Finally, it can also allow occasional players to resume playing sports betting.
Insurance that Can Hurt Your Profitability
Although cash out is a powerful tool to optimize your earnings, be careful not to abuse it. Because yes, you may lose out financially in the long run. Above all, don’t panic during the game. Don’t let your adrenaline interfere with your judgment skills so as not to cash out too quickly. Remember, there are hardly any certainties in sport. Reversals of situations are even very frequent.
Therefore, it would be regrettable to come out of a very poorly committed bet that ultimately wins at the end of the final result. In this case, your choice of cash out will have cost you money since the amount offered is always lower than that of your initial bet. This is why it is always preferable to watch the live match of your bet before making any cash-out decision.
Our Opinion on Cash Out: A Method to Cover Your Bets
Among the tips for covering your bets, cash out can be an exciting alternative. This is then referred to as the “refunded bet” method. It consists of having two bets for a single event: your main bet and another for which your stake will be refunded to you.
One of the advantages of hedging your bets with the cash out compared to the so-called classic cover bet is that there is no calculation to do. It is the bookmaker who directly indicates the amount covered. However, if the online betting site does not offer it, the bettor must calculate and place his cover bet.