Beginner's Guide to Cashout Offers
Cashout offers are being seen more and more at online sportsbetting sites. Used properly, they can help you to minimise your losses and your level of risk. They also help desktop and mobile sportsbooks to generate more profits.
What is Cashout?
To cash out in this context is to withdraw your wager at any point before the online sportsbetting event that you put money on comes to an end. Cashout deals start as soon as you have placed your bet. If you want to cancel your wager before the match or race has happened, you can usually cash out a similar amount to what you put down in the first place.
As the action progresses, the offers will change correspondingly. If it seems likely that the prediction you made will come true, you'll be able to get back most of what you punted in the first place. You might even get more than what you put down, but not as much as what your payout would be if you claimed your winnings at the end of the event.
On the other hand, if it looks like you will lose, the offers won't be nearly so much in your favour. You will get paid out a lot less than what your original wager was, but you'll still have more than you would if you waited until the end and then lost your entire stake.
When is Cashout Applied?
You'll find these deals available for several different sports. Pre-game and live desktop and mobile sportsbetting is possible, on Single, Double, Treble and Accumulator Bets. The reason they are confined to simple markets is that bookmakers are constantly reviewing the specifics of the offers, in response to the often-complicated action that is unfolding on the track or field.
For example, in a Football game, you might bet $10 that Team A will win at 1:1 odds. If you win, you'll get a return of $10 and walk away with a total of $20. If Team A scores the first goal and it looks like they will be the victors, your sportsbook might allow you to cash out and take £16. This is a loss of £4, but it does give you the peace of mind of knowing that you won't lose $10
On the other hand, imagine that Team B scores and it looks like your prediction might not come true. Now you want to cash you wager out to minimise your losses. You might be allowed to do this and take $5. Once again, you will not be parting with your full $10.
Then, when the next goal is landed, the deals will change again. With mobile sportsbetting, you can keep up with the action on the go, and make the withdrawal if and when the time seems right. The offers can change very rapidly, so this is extremely helpful.
You do need to keep in mind that there are limits to these deals, and you have to think carefully about how to use them. As the end of an event draws nearer, offers to cash a losing stake out are worth less and less. Knowing that can lead to rash decisions; you might cut and run too early, to ensure a high payback, and then lose out on a team or athlete turning their performance around.
So be sure to use this tool carefully at the online sportsbetting operators that we've reviewed for you here. While it is reassuring to know you have the withdrawal option, you also don't want to make rash decisions. Think carefully, wager with your head (not your heart) and accept that you won't always be able to strike at the optimal cashout moment