Cashing out is one of the most popular features in betting these days but few punters know how to use it effectively.
We have a habit of panicking and cashing out as soon as we think we might win, but it really shouldn’t be that way.
The cash-out tool can be incredibly useful for a variety of reasons, and a number of betting apps now offer it.
Below you’ll find all you need to know about when you should cash out your bets and take a lower prize pot.
What Is Cash Out?
Knowing what cash out is all about is probably a good place to start. It’s relatively simple to understand and is popular among football betting in particular.
Essentially it’s a feature that allows you as punters to settle your bet early and take a portion of winnings rather than the full amount. That portion is dependent on the circumstances of the game, with higher proportions offered to the bets that are more likely to win at that particular time.
For example, if you were to place a bet on a Premier League game between Chelsea and Arsenal, backing Chelsea to win, and Chelsea were winning at the time of cash out, you’d receive a higher proportion of your calculated return than you would if Chelsea were drawing or losing at the time of cash out.
Many other factors can contribute to this including time on the clock, injuries, sendings off, the flow of the game or other circumstances such as the match potentially having extra time and penalties involved.
Once you have cashed out you have settled your bet early and what happens in the event after that moment is completely irrelevant and will have no effect on your settled bet.
Which Betting Apps Offer Cash Out?
The likes of Paddy Power, Ladbrokes, Coral, and William Hill have a substantial number of markets available across most fixtures, with accumulators also being available to cash out both in-play and in-between selections.
Head to our betting apps page for a full range of betting app reviews, the majority of which will have an expansive range of cash out markets.
When To Consider Cash Out
Cashing out is always played when an element of doubt creeps into your betting. Ultimately this will always be the reason for doing so, but you should also be logical about that doubt.
For example, if you have built a six-fold accumulator and you’re going into your final selection with five winners, you’re undoubtedly going to be nervous and perhaps doubt your final selection. This could be completely irrational however, so having a level head and trusting your initial predictions is vital.
When you should cash out is when you have good reason to doubt a result or outcome. That could be for a variety of reasons. In the case of an accumulator, a star player may have been injured in the warm-up for example.
When cashing out in-play, you should ultimately try and get a feel of how the game may go through the general flow of the game. If a result starts to go against you, cash-out could be used as damage limitation, while in other cases you might find your selection is in the lead but against the run of play.
It’s all about staying calm, taking each cash out decision on its merits and making a calculated move to ensure you get the best return possible.
So, How Do You Cash Out?
Cashing out is a relatively easy process and can be done in a number of ways. Many apps these days have a shortcut on their bottom toolbar, which you can tap and go straight through to the wagers eligible for cash out.
Alternatively, you can visit the Open Bets section of your betting app and you’ll usually find a cash out option to select and take the portion of your calculated return.
The cash out return will be inclusive of stake and when taken will be deposited into your betting account just as any winnings would.