It is one of the most popular features of any online sports betting site. The cash out feature has become a common sight for customers looking to make the most out of their betting.
We have carried out extensive research on the cash out process and have put together this comprehensive guide so that you understand what is possible. Read on to discover cash out rules and everything to do with cash out.
- What Is Cash Out in Betting?
- How Do You Calculate Cash Out on a Bet?
- On Which Markets Is Cash Out Available?
- Best Cash Out Betting Sites in Nigeria
- Cash Out Final Verdict
- Frequently Asked Questions About Cash Out
What Is Cash Out in Betting?
Cash out is a feature that most good sportsbooks offer these days. It allows customer account holders to lock in a profit or loss from a bet on an event before that event has finished.
The online bookmaker will readjust the odds in line with the current situation and offer a cash out to the customer. They can then take up the offer to allow the event to finish and keep their original bet.
Our evaluation is that the idea is that customers can have more control over their bets. If a wager looks like it could be unsuccessful, the bettor can cash out to take something from the bet at least.
An example would be betting that Manchester United will beat Arsenal 2-1. If the score was still 1-1 with not long to go in the game, a customer might be able to take the cash out option. Although the winning returns would be less than the projected winning returns at the time of the bet, they would still receive something. The odds will be readjusted and a cash out payment would be made.
| Cash Out Pros | Cash Out Cons |
|---|---|
| Any bet can provide returns | Lower odds |
| More freedom with bets | May miss out on original bet winning |
| Potential to partially cash out |
What Is Partial Cash Out?
We have done the research for this and it is exactly what it sounds like. Sometimes you will be given the opportunity to take just a partial cash out. This partial cash out option in betting allows you to keep a percentage of the stake at the original odds, while also allowing you to cash out a bet.
What is Auto Cash Out?
After completing our investigations, we found that this is another cash out option giving you more control over your betting. With auto cash out you are able to set an optimum cash out value when you place your bet. If that level is reached, you will automatically receive the cash out return. The auto cash out option can be turned off at any time as well.
How Do You Calculate Cash Out on a Bet?
Obviously, the returns on a cash out bet will be different to those when you originally placed a bet. This is because the event will be in process and the odds will change to reflect what is happening. Sometimes it may be quite difficult to work out what you should expect – but the bookmaker will notify you of your cash out winnings.
To calculate cash out betting returns, the bookmaker will take your original potential winning returns and divide the amount by the current odds.
For example, if your bet was originally set to earn you £20 and the current odds for your bet were now 2.00, you would receive £20/2.00 = £10.
On Which Markets Is Cash Out Available?
It will depend on which online sports betting site you are using to what exactly is available to you. Usually, the bets that are eligible for cash out will be clearly highlighted.
Most betting markets have the ability to offer a cash out option. It really just depends on the bookmaker in question.
Best Cash Out Betting Sites in Nigeria
Customer account holders in Nigeria have a lot of options when it comes to cash out betting. Bookmakers know that it is an interesting option for users and you can usually find a good selection of bets available.
We have done the research for cash out and here are some of the best betting sites in Nigeria to use cash out in betting.
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Cash Out Final Verdict
Our expert opinion is that being able to cash out on a bet gives you much more control and freedom. It allows you to take some returns from any eligible bet. Although there are no definitive cash out betting tips, there are a few instances when it could be a good option.
If you notice that the bookmaker is offering a bulk of what you would get by allowing the bet to run, it could be a good time to make sure of a return. If your bet looks like losing, with no chance of a change, it might also be worth making sure you take something from the bet.
At the same time, you should probably not cash out if your original bet looks like it will be successful near the end of the event. Or if the event is evenly balanced and could go either way.
You have to know what your minimum profit will be with a bet and at what point you are willing to just cut your losses. Cash out allows you to have more control over your bets.
Frequently Asked Questions About Cash Out
Here are the answers to some common questions about cash out meaning in betting and this option in general.
There is no definitive answer to when you should cash out. You should just take the option when you think it is right and you believe it is the most interesting option at the time.
You will need to check with your online sports betting site as to what bets are eligible.
You will be offered adjusted odds and new potential returns. If you are happy with the new amount, tap to take the cash out and the payment will be made almost immediately.
Value betting is when you think that the odds offered by a bookmaker are higher than they should be given the situation.
