What is cash out betting and should you use it in your betting strategy in 2019?
In this article, we’ll look at which bookmakers offer the best cash out betting features along with the most effective cash out strategies you can employ right now.
Cash-out betting is a relatively new addition to the industry and it’s certainly a feature that punters across the UK have come to love during the last few years.
But should you consider using this strategy to increase your earnings and which bookies offer the best cash-out features in 2019?
Read on to find out more.
What is cash out betting?
Whether you’re new to betting or you’ve not heard the term cash out before, this section is for you.
As I mentioned above, cash out betting is a very popular feature amongst modern punters as it allows more options and flexibility in your betting.
You can even use it to lock in a profit using strategies such as matched betting, as we’ll look at below.
But what is cash out betting?
Cash out is a betting feature that allows punters to settle their bets before an event has finished.
As you may know, traditional bets are settled after the final whistle or once an event has concluded. Any winnings are consequently paid out to winning punters.
With cash-out betting, punters can choose when to close and settle their bets. You can do this before an event starts or during the event, also known as in-play. Either way, your return is calculated at the time of cashing out your bets.
Ultimately this gives punters more control of their bets and allows you to lock in a profit or minimise any losses before the final result.
This is one of the main reasons cash out betting has become so popular over the last few years. This feature is great for punters that are less risk-averse and happy to take a smaller profit rather than risk their bets.
How does cash out betting work?
Cash-out betting works by calculating odds that combine your existing pre-match bet and the current odds of the event.
As with most things, it’s easier to explain cash out betting with an example.
Let’s say that you place a £10 bet on Leicester City to beat Man Utd in the Premier League and you placed your pre-match bet at odds of 4.0.
20 minutes into the game, Leicester City scores the opening goal, shortening the odds for a City win to 2.0. At this point, the bookmaker will offer a cash-out option which takes into account your existing pre-match bet and the current odds of a Leicester City win.
If you decide to cash out your bet, you’d make a profit before the final whistle.
Which bookies offer the best cash out betting?
So now you know more about cashing out bets and why it’s so popular, let’s look at which bookmakers offer the best cash out betting and how they compare.
In the modern world of online gambling, the competition is incredibly fierce meaning the bookmakers are always looking for ways to improve their platforms.
As we’ve already seen, cash-out is a popular feature that many punters have come to expect when looking for a new bookmaker in 2019. For that reason, most online bookies offer some form of cashout betting for their customers.
Here’s a list of the most popular bookies offering the best cash out betting in 2019:
- Bet365
- Coral
- Ladbrokes
- William Hill
- Paddypower
- Betfair
- Smarkets
Whilst the details of cash out may differ between bookmakers, most offer a similar experience.
You may find that betting companies name their cash out features differently. For example, Smarkets call their cash out betting ‘trade out’ rather than ‘cash out’. However, they both mean the same thing.
Where to find cash out
You’ll often find your cash out options and the value of your current bets in my bets section of your bookie account.
Before placing any bets, you need to ensure that cash out is available on your selected market. Not all markets qualify for cash-out meaning you need to check before placing any bets. You’ll often find a notification next to available markets.
Advanced features of cash out betting
The only downside to traditional cash-out bets is that you have to stay up to date with the event. You’ll also need to log in to your bookie to cash out your bets.
However, forward-thinking bookmakers have taken cash out betting one step further. Bookies like Bet365 now offer auto cash out. This allows you to set a ‘take profit’ amount that triggers when you reach a certain profit from your bet.
This happens on autopilot so there’s no need to log in or watch the event. This is an awesome feature for those that don’t want to sit and wait around before cashing out.
Another great cash out betting feature brought to market by Betfair is the ability to partially cash out your bets.
You can essentially split your bet in two, cash-out one part and leave the remaining bet active. This is just another feature that makes cash out betting even more versatile in 2019.
This is great for scenarios when you’re unsure about the outcome of the event. Punters can split their chances to play it safe.
How to calculate cash out bets
You’re probably thinking that the calculation behind cash-out betting is rather complicated. Think again, it’s very simple.
Here’s what the formula looks like:
Cash out value = ((Initial odds / Current in-play odds) x Initial stake) – Initial stake
Whilst you’ll probably never need to use the formula above, it’s still worthwhile checking out so you know how your offers are calculated.
Cashing out in matched betting
Matched bettors are always on the lookout for great ways to increase their income from betting strategies in 2019.
As I mentioned above, punters can use matched betting alongside cash out to increase their profitability as we’ll look at below.
Recovering from betting mistakes
Using cash-out in your matched betting strategy has several benefits. One of which is that you can use this method to recover from any mistakes you may have made when placing your bets.
If you’re quick to spot any mistakes, you can cash out your bets before the odds change too much. In this scenario, you’re unlikely to lose much money and you can go back and place the correct bets.
You can use this technique for both your back and lay bets. However, it’s far easier to use it on the latter as the calculations are much easier.
If you’re unsure about back and lay betting, you can find out more in this article.
Locking in a guaranteed profit
Using cash-out, you can also potentially lock in a guaranteed profit. To do this you’ll need to take advantage of a bookmaker promotion that pays out your winnings before an event has finished.
Promotions like bet365’s early payout and Paddy Power’s 2 up are the ones you should look for.
Using this method, you can potentially make some great profit if results go your way.
In these promotions, Paddy Power pays out your winnings if your selected team goes ahead by a certain number of goals. For the Paddy Power 2 Up example, it’s 2 goals.
In this scenario, the bookie will close your back bet and pay your winnings. Your lay bet will still be open leaving you with some options.
You can either close your lay bet and lock in a small profit or leave your lay bet open and hope your selected team go on to draw or lose the game. In this scenario, both your bets would win leaving you with a nice profit from your bets.
Cash-out strategy – matched betting
So how do you lock in a profit using the cash-out feature in matched betting?
As with anything, it’s easiest to explain the process with an example.
To make this process work, you’ll need to place both a back and a lay bet on the same market.
Let’s say you’ve noticed bet365 are offering early payouts if Man Utd go ahead by 2 goals and you place a matched bet on Man Utd to beat Leicester City.
If Man Utd go two goals up in this game, bet365 will pay out your winnings before the final whistle. You could either close your lay bet and lock in a small profit or risk your luck and go for broke.
If Leicester City goes on to score two more goals and eventually draw the game, your lay bet would also win. The outcome would be the same if Leicester went on to win rather than draw the match.
This would leave you with a great profit from your bets.
Overall, this is strategy works well for cash-out betting.
Cash-out betting in 2019
Overall, cash out betting is a great feature that many bookmakers offer in 2019. It gives punters more control over their bets and it can help you recover from any mistakes in strategies such as matched betting.
Cash-out is a brilliant way to increase your betting profit and it’s certainly something I recommend you consider for 2019.
What do you think of cash out? Let me know by leaving a comment below right now.