What is cash-out?
Most bookmakers offer the Cash-Out option. It is gaining more and more popularity, and in today’s world of betting, many professional players of sports markets are taking advantage and winning with it. The option itself is a process through which you can close, or in other words, terminate your bet before the event’s end. That gives you the opportunity of securing your bets anytime that you believe you need to. The function of closing your bet is reasonably simple and can bring you many gains.
“Close Bet” “Stop Loss”
The situation is as follows: if the match you have bet on is on its way to turning out the way you wanted, but there is still time till the end, the bookmaker will offer you an amount that is more than what you have bet, but less than what you would have won at the end of the match. But, either way, you are at a profit. On the other hand, if your bet is not turning out as expected and you are on your way to losing, then the amount you will receive upon closing it will be less than the amount that you have bet. In this way, you will be closing the bet with a loss, but either way, you will be losing a smaller amount than your initial bet. You should know that not absolutely all of the markets and events have such an option, but most of them do.
Aside from this option, some bookmakers also offer a partial Cash Out, through which you get a certain amount, and you leave a certain amount so you can keep the bet active. If you win the bet, you win an amount based on that which you left so you can be in the game, and not your initial betting amount.
The Close bet has become an efficient way of betting, and it can also save you in many different situations. Online betting has become an even more enjoyable past-time with the Cash Out option that the bookmakers offer.
Advantages of the cash-out option?
The cash-out option has a few main advantages, which we will be paying special attention.
- By closing your bet, you can prevent a possible loss of a particular amount. For example, if your bet seems like it will be successful, but in the last minutes of the event things take a turn for the worse, then you will not be affected because you have already won a certain amount.
- By terminating a given bet you can save some of the amounts from the bet if something makes you change your mind before the event you have bet on begins. For example, if you have placed a bet on a given team in a particular soccer match, but straight off the bat you see that the team has a surprisingly bad set up, you can change your mind and close your initial bet, even if it is at a loss. However, this amount will be far less than if you leave the bet and lose the entire amount of the bet.
- The process of closing the bet takes seconds, and the amount that you choose upon closing it will immediately be transferred into your account with that bookmaker. You should also know that if a particular selection for your bet is currently unavailable, then you will not be able to proceed with the cash-out option.
- The amount of the cash-out is calculated automatically by the bookmaker’s system and is determined by the development of the event and your bet. It allows you always to be aware of the sum you will be receiving if you close your bet, and you can also calculate for yourself if the amount will increase or decrease for given event development.
Disadvantages of the cash-out option?
As practical as the cash-out option may seem, it also has a few disadvantages. So let us mention them as well.
- In most cases it is not clear whether or not a cash-out will be available at a later stage in a given event. It can mess with your plans in a given moment if you are expecting an opportunity for a cash-out for a particular event, and it turns out that there is no such opportunity. However, you should remember that for most big leagues or tournaments in different countries, the option will be available.
- At some point, closing your bet might put you in a situation where you might have won the full amount if you have just waited for the end of the event. It is all too relative, and even though we count it as a disadvantage, the actual choice to use the cash-out option is entirely up to you.
Specifications of the cash-out option for different bookmakers
The cash-out option is available for most bookmakers, and each one of them has its specifications, and it will be wise for you to know them. We have systemized these specifications for some of the best bookmakers that offer the cash-out option.
Efbet is one of the companies which offer this extra. It is available only for certain events and markets. A big disadvantage is that Ebfet provides no information as to which events and markets will have the cash-out option. But we can help out a little with some information; usually, if an event will be allowing live bets, then there is a big chance that the Close bet option will be available as well. Also, if you bet on an event that is live at the time, then the cash-out option will most likely be available for this also. Either way, you should always be careful when you are betting with this extra.
The most significant specification for the Efbet cash-out option is that it is only active for single bets! It is very important, and you must remember it because if you place bets on multiple selections for whatever event, you will not be able to use the cash-out option. Efbet offers the cash-out opportunity only for bets made on a single selection! You can learn more about Efbet’s cash-out option here.
Bet365 is among the leading companies for online betting and also offers the cash-out option. You can use it for many different events, but again, not for all which are available for bets. However, most markets and events will give you the option of terminating your bet if you wish. Bet365’s cash-out option is fairly simple and easy to use, and once you approach the section with your bets, you will be able to see whether a particular bet is subject to the option. There’s even a drop-down menu that will show you all the bets available for termination at the moment. Besides this, you can very easily make a partial termination of your bet using a special slider that automatically calculates all of the amounts.
The option of closing your bet on Bet365 is efficient and offered for most events and markets of the company, but its main specification is that if you have requested a bonus from the company and you must roll it over, none of the bets you have closed will count as part of the amount from the promo that you must roll over. This factor might get in your way, but Bet365’s cash-out options remains a beautiful opportunity. If you would like to learn more about the company’s function, we present you with our special review of the cash-out option of Bet365.
The bookmaker – Betfair is yet another company that offers its clients the cash-out option. The so-called Betfair Cash-Out has become very popular recently, and this is thanks to the biggest specification of the company’s function. And said function entails that Betfair provides its clients with the opportunity of knowing exactly which markets of a given event will have the cash-out option. Anyone can figure this out by going to the particular event on the website of the bookmaker and finding an orange icon of a circle inside a square which would indicate that the cash-out option is available for a said event of said market. This service gives Betfair a huge advantage compared to all the rest of the bookmakers which offer the option as well.
You can see all of your bets that are subject to termination from the Cash-Out menu on the website. If you wish to learn more about this option and its specifications, you can read our review on Betfair’s Cash-Out function.
Sportingbet is yet another bookmaker which offers the cash-out option to its clients. Sportingbet gives you the chance to terminate your bet on most types of sports and different events and markets. The bad thing is that there is no way for you to know precisely which ones will allow the cash-out option, but it’s rather unlikely that it will not be available for the largest and most popular ones. If you want to see which of your bets are subject to termination, you have to go to the section with your bets, choose those that are active, and if there is an offered cash-out amount it will be displayed.
The main specification of Sportingbet’s cash-out option is that the amount of the cash-out does not automatically update, so you must constantly reload the page to see the cash-out amount that is currently being offered. If you would like to learn how to use the option of the bookmaker, then you can check out our special review of Sportingbet’s cash-out option.
Answers to frequently asked questions about this extra
Why can’t I execute the cash-out option?
If no cash-out option offered for your bet – that is simply because the bookmaker has decided so. Remember that the Close bet option not always offered for all events and markets, but for the most popular matches of different sports, it would be available.
There is an available Stop-Loss amount, but the button for closing a bet is not active?
This happens very frequently, and it is because at that given moment certain events or event has been blocked which automatically stops the possibility for cash-out. You must wait for the coefficients of the event to be active once again and then you can close your bet.
Do I have to pay some amount to use the Close bet option?
No, the cash-out option is completely free for all bookmakers.
Can I use the Stop-Loss option through the mobile version of a given bookmaker?
Yes, the option is available through the mobile version of a given bookmaker. You need to go to your account and access the section where you can see your bets and choose to cash-out.
Do I always have to use the Cash-Out option?
No, using the option is not mandatory. If you wish you don’t have to use the option at all, or you can use it to close every one of your bets, as long as the function is available. Bookmakers do not limit the number of times you use the option. The choice is entirely up to you. If you run into any difficulties the cash-out option or you have any other questions, do not hesitate to contact us via email: firstname.lastname@example.org.