How did it become a staple of the industry?
The first company that implemented the feature is arguably the greatest name in the betting industry. It was immediately embraced by bettors, leading many (if not all) other Bookmakers to develop their own early wager settlement routines and it is quite simple: give a punter the opportunity to receive profit (or at least his money back) on a bet that does not seem to be going his way, before they lose their entire stake. If the idea sounds interesting to you and you want to take advantage of the offer, check out our list of top bookies via agent that we offer and chose the one that best suits your purposes.
Exactly because the idea was copied and put to action by almost everyone, the same pioneer company introduced the first variation, the “Partial Cash out”. The result was exactly the same as before. The rest of the industry quickly followed suite with the new option.
Now, a new level is added by introducing the “Auto Cash out” possibility into the routine. Again the punters are going crazy and it is just a matter of time until it is offered by everyone.
It is a matter of fact that those few that still do not offer any sort of a cash out option will soon be left out of the business. Thus, it did not just become a staple. It is mandatory.
What is a cash out system?
As aforementioned, a player gets to receive some (if not all) of his stake plus a possible profit, before an event that is not going the way they envisioned is over and they lose everything.
For example, on a game between Liverpool and Newcastle nowadays, everyone would bet on the Reds’ victory. Yet after 80 minutes of play the score is still 0-0. If indeed that was your bet and the match ends at nil – nil, you lose all of your stake. Even worse is the case if at that moment the score is a goal up in favor of Newcastle. The Cash out option allows you to get your stake back (without profit).
If, on the other hand, the same match is 1-0 in favor of the reigning champions, however, the tide of the match clearly indicates that the Coalers will score and equalize then cashing out while the score is still in favor of Liverpool will get you your stake back plus all of the profit you intended to make.
Please note that the option is not available for all markets and events.
Partial cash out
A bettor can get back a part of his wager while leaving the other part of the stake to run until the end of the event. The way it’s done depends on the website, however, the concept stays the same. You get a slide bar to move around to indicate what percentage of your bet you want to cash out and what the payout will be, as well as the changed payout if the bet wins.
Auto cash out
This is a functionality that gives you the complete control over your bet, even when you are not near a mobile device or desktop. In fact, you can lock in some profit without lifting a finger.
To set up an Auto Cash Out you need to hold an active Cash Out position in a market. Once you have placed a matched bet, simply go to the active market you want to create an Auto Cash Out for and press the dropdown menu next to the Cash Out button. You will be given the option to set a profit level at which you would like to Auto Cash Out on a market.
Exchanges with cash out option
Orbit Exchange:This exchange is a Betfair white label (same odds, limits and liquidity) and it offers the cash out option on running bets. Thankfully, it is one of the exchanges that we offer, so you can open an account via an agent and benefit from the experience.
BET365:The second largest betting site of the industry, was one of the first to provide a cash out option. This feature can be used on a wide variety of single and accumulator bets for pre-match or in-play markets. The offer is valid for football, cricket, horse racing, tennis and basketball among other sports. You can take advantage of it right now by opening an original BET365 account.
Fair999:The latest bookmaker added on our list. Also a white label of Betfair and an exchange where you can get a cash out on betting events. Though it doesn’t cover all of the markets and events, the option is available on the bet slip, only after a bet is placed.
Betdaq:Betfair’s direct rival, adds a twist in the routine. Not an innovation per-se, but an interesting add-on. If you have more than one bets placed, it provides you with the total amount you get to receive if you cashed them all out. The process is based on real-time and live markets. Our best betting software takes this also into account so, you get to benefit from the twist as well!
Betfair:Using one click, you can cash out all of your bets placed on one market, allowing you to lock a profit or mitigate your losses. Betfair also offers partial Cash Out, allowing you to determine how much of the bet you want to withdraw, while still leaving a part of your stake active.
It may not be available whenever there’s low liquidity on a market and it is not guaranteed as it is based on live Betfair markets where prices are constantly changing. You may receive more than expected, or the process may be unsuccessful or only partially successful. If you wish to make the most of this feature open an Original Betfair account right now.
Before the Cash Out option and its derivatives, you would need to wait until an event was over before knowing whether your bet would have been won or lost. Those were your only two options. Now you can see how things are going and maximize your profits according to the direction an event is going. In plain terms, you can either get your stake back or make a profit all the time. We believe that this is really good news! Do you not?