What is Cash Out?
A revolutionary addition to sports betting in recent years is the ability to ‘cash out’ of a bet.
This means a bettor can settle a wager before an event is complete and still profit.
The cash out function is perhaps a new one for sports bettors in the US but is commonly used around the world.
How does cash-out work?
If your bet looks as if it's going to win you will leave it to run in order to collect the full value of the winnings.
However, there are always those bets where you have a hunch its not going to be your day (we've all been there!)
In this instance, cash out gives you the option to take partial winnings (what the bet is worth at a particular time) and close the bet.
In essence, cash out allows you to assess the value of your bet in real time. In addition, the chance to cash out hands an element of control to the bettor, adding another layer of excitement to the game and overall betting experience.
For a good example of a situation where you may decide to cash out, let's say you've backed LA Galaxy to win vs. Seattle Sounders.
The match is in the 80th minute and Zlatan's Galaxy are 2-1 ahead. Your bet is in good shape.
Two minutes later Zlatan is given a straight red card and now Seattle are coming on strong. Now, you're worried Galaxy won't win the game.
Do you see the last ten minutes through in the hope Seattle, who've just been given an advantage, fail to tie the game?
Or, do you dare not risk that scenario and instead use the cash out function and collect partial winnings?
When can I cash-out?
If playing a single wager, you can cash-out at any point prior to the game ending.
However, there may come a point in which your bet is no longer worthy of cash-out value.
Let’s say your pick is losing by 40 points with 3 minutes to play; there’s absolutely no chance of the bet coming in, thus, there’s no price to be offered.
For parlay bets you can cash out up until the conclusion of the last game. As mentioned above though, only if there is a chance of your wager winning will a cash-out value be offered.
A futures wager will offer the chance to cash out ay any point prior to the event finishing, providing it's still in contention naturally.
Here, especially, the cash-out option can be very useful - a high cash-out value will be offered if a longshot you’ve backed is performing above expectations.
Equally, it can also be a conundrum if you feel the team you’ve backed are capable of sustaining their challenge - do you cash out on the current value of the bet or let it ride until the event is complete? Decisions, decisions.
How to cash-out effectively
There are normally two reasons when you’d choose to cash out.
First is if your wager is winning early but you’re not entirely confident they’re going to hold on. Let’s say, for instance, you’ve backed the underdog to win. They are but you just can’t see them holding onto their advantage. Here, you may be best advised to cash-in on the value being offered (likely to be high in the case of betting on the underdog).
Similarly, if your bet is losing early and you feel the team you’ve backed aren’t likely to turn things around, then it may be best to recoup your stake, or an amount close, while you can and save the money for a bet another day.
Knowing when to hit the button, and when not to is a learning curve.
The process of cashing out
A good website will make the process of cashing out a straightforward one, providing cash-out is available of course. All you need to do is visit the active bets/open bets section of your account and look at the cash-out values offered.
To cash-out, all you need to do is click the ‘Cash Out’ button commonly found to be green. The amount should find its way into your betting purse in the matter of minutes.
- Cash-out is not available to play on spread or total points markets, nor teaser or round robin bets. Popular markets where cash-out is available include single and parlay bets.
- When a bettor clicks ‘cash out’, they'll be a prompt asking the player to 'confirm', allowing a moment's thinking time. After this, there's no going back.
Generally speaking, a sports betting site will offer a comprehensive summary of what is happening in a match via in-game text commentary and statistics.
There’s nothing quite like watching a game - and your bets - unfold as it happens however.
Live streaming allows bettors to combine the two.
How does live streaming work?
If the sportsbook in question caters for live streaming, you will be able to watch selected games on your laptop or mobile device via the website, as you would a game on TV.
This means you can bet AND watch a game simultaneously.
Note, only site subscribers may be eligible for live streaming, while certain conditions may be in place to check customers are active bettors and frequent depositors.
When can I live stream?
You can only stream a live game if the feature is available. Not all games/sports will cater for live streaming. Additionally, bettors can only live stream for the duration of the event.
It’s important not to take live streaming for granted. With the feature not completely widespread, live streaming will differ between betting sites. They’ll be sites that don’t offer the service whatsoever and others that'll roll out up to 50,000 events from a range of sports.
Benefits of live streaming
You stand a much better chance of success placing an in-game wager, whilst watching the game unfold, than you do betting normally. Live streaming and betting is a match made in heaven and can only improve your chances of winning.
Being able to live stream is also a very convenient for the average Joe at work, or, anybody having to juggle daily life at the same time they want to bet. Whatever your set-up, it's possible to house it all in the same place, making life that bit easier.
Moreover, subscribing to TV sports channels costs an arm and a leg nowadays. Choosing to live stream your favourite sports instead, gives you the chance to save dollars.
It's known sports betting sites live stream events with a time delay of upto 30 seconds.
The reason behind this is an obvious one - the sportsbook do not want you gaining the upper hand! Some sites are better and worse than others, but it’s probably worth turning off notifications on your computer and phone to ensure the thrill of betting as the game unfolds is not lost.