The cash out feature allows punters to make an early payout on wagers they have made. Depending on the bookmaker there are different options available to them with the most common being the partial cash out and the full cash out option. However, understanding when to correctly use the cash out feature will greatly benefit you and will provide a sense of security since part of the money is returned back to the bettor.
We can easily end bet slip before regular time in an effort to avoid huge losses, the cash out feature is not liked by bookmakers’, so they tend to change the prices as the match comes to an end of regular time and normally the amount payable is lower. This feature helps punters back on their feet and can help you get out of a losing streak.
Therefore so many definitions that can help you understand the meaning of cash out but it’s simply to terminate a bet slip to get back part of the initial stake amount, when a selection is failing we can use this option to get back part of the stake amount use and avoid losing it all.
How do we use the cash out calculator?
The cash out feature is usually a big problem for bookmakers and in the effort to avoid complete total loss they usually calculate the amount payable to the punter and this is based on the initial stake placed and the possible payout amount. The bet slip on the online platform shows the possible payout amount the punter can receive and if the cash out is done early the payout is higher compared to cashing out in the dying minutes of regular time.
The common mathematical formula used to calculate the cash out payable to the punter is (cash out value = {initial odd value or live odds} x {stake}) minus initial stake amount placed and Sometimes bookmakers may include the number of teams you are losing as well as number of events won.
A good example, when determining the possible fair cash out value that aims to benefit both parties, uses these mathematical formula but the good side with technology you don’t have to worry about doing the calculations and this is usually done online on the platform, variations are brought about by taxes charged that makes the fair amount lower.
Another quick formula for cashing out;
cash out amount = (possible bet payout amount/ live odds) x (1-Vig).
The cash out feature is of no use if the regular time has ended so your timing should be close to perfect to get a chance of completely utilizing these unique feature and therefore we recommend you do a review of your online bookmakers to determine which offers the cash out feature.
Cash Out in Live Betting Explained
Depending on your online provider their mostly just two know types of cashing out options and they include the full option or the partial option. Other possible options include the Auto and the Edit my bet option that is offered by a limited of bookmakers in the market. We recommend well-established betting platforms since they usually offer such options for punters.
- Full cash out option; this traditional form is the most common and generally we completely terminate our bets before they mature in the effort to avoid visible losses. Once the wager is closed we can’t change back what has already happened and therefore we must use this feature carefully, we should be absolutely sure before selecting the option.
- Partial cash out; similar to the traditional form but the only advantage about this option is splitting the payable amount after cash out is calculated into two, the first amount directly goes to our accounts while the other is left to run the rest of the game and can still win the bet. Experienced punters use these option since they can allow their money to run and we still get part of the money back through the early payout option.
- Auto; these is selected on the bet slip whereby you give the system permission to terminate a wager automatically if an event is failing and thus making these option more convenient since we can’t always keep track of sports events every day. The system determines this through set limits if the bet exceeds or reaches this set limits the system decides whether a partial or full cash out option is necessary and will automatically terminate the bet before time ends.
- Edit my Bet; is a recent type of cashing out, bookmakers have become creative in order to fish for more punters who love the their cash out feature and have generate a simple but effective system that can swap, add, remove a selection, increase stake amount or even change the bet type. Once the system edits your bet slip the initial amount is relatively lower and this due to the precautions undertaken by the bookmaker providing this option and will try to minimize loses, therefore limiting the total amount we can cash out.
Pre-match cash out explained
Cashing out before an event even starts, generally proves the selections were made rashly and therefore a punter may try to get back part of their money in the effort of saving their money before the game starts. Basically this correction are possible to edit but we also depends on the bookmaker offering you these services, rather than risk the bet and loss it all most punters with the knowledge of cashing out may regularly use it.
Steps that we can follow to make cash out bets
- Click on the open bets option
- Select a type you would like to use. I.e. Partial, auto, edit my bet and full option.
- The possible value payable will be shown by the system and we only have to choose the fair amount if possible.
- Once you click on the cash out, the money is automatically deposit in your account.
We recommend you try out different bookmakers to get better prices on cash out options.
