WhichBookie racing analyst Andrew Blair White provides a preview and betting tips for races at Wexford on Wednesday 25th May.
You will probably know that some bookmakers now let you take profits on your bets early. But do you know which bookies offer cash out, or how it works? It’s worth finding out, because this feature can often make the difference between a winning bet and a losing one. Cash out is an incredibly popular feature with punters which allows you to take your profits on a bet at any time you like before your bet has settled.
If this appeals to you, then read on. Because in this article we’re going to look at what cash out is, and how it can help you. But first, you need to make sure that the bookie you join has cash out available. So let’s see which bookies offer cash out.
|Bookie||Cash Out||Partial Cash Out||Markets||Join|
|Bet365||x||x||Selected Sports & Markets||Join|
|Betfair||x||x||Selected Sports & Markets||Join|
|Paddy Power||x||x||Selected Sports & Markets||Join|
|Gentingbet||x||Selected Sports & Markets||Join|
|32RedSport||x||Selected Sports & Markets||Join|
|Betfred||x||Selected Sports & Markets||Join|
|BetVictor||x||x||Selected Sports & Markets||Join|
|Betway||x||Selected Sports & Markets||Join|
|Black Type||x||Selected Sports & Markets||Join|
|Boylesports||x||Selected Sports & Markets||Join|
|Coral||x||x||Selected Sports & Markets||Joinl|
|Grosvenor||x||Selected Sports & Markets||Join|
|Ladbrokes||x||Selected Sports & Markets||Join|
|LeoVegas||x||Selected Sports & Markets||Join|
|Mansionbet||x||x||Selected Sports & Markets||Join|
|Mr Green||x||Selected Sports & Markets||Join|
|NetBet||x||x||Selected Sports & Markets||Join|
|Quinnbet||x||Selected Sports & Markets||Join|
|William Hill||x||x||Selected Sports & Markets||Join|
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This list shows a selection of betting sites that offer cash out, and those that also offer partial cash out. The difference between these two features is explained below. We have also listed the markets in which cash out is offered at each bookmaker.
As you can see, there is some variation between the bookmakers in terms of when and how you can cash out your bets. So you need to choose carefully depending on what sports you bet on, and whether you want to use partial cash out or not. If your current bookmaker is not offering what you need, then it would be in your interests to open an account with a bookie that does. You can also check out the bookmaker reviews for details on what else each bookie is offering.
Cash out has been around for a good few years now and as new bookmakers enter the scene, they want to compete with more established betting sites. Therefore, we’re seeing more and more bookmakers offer cash out features to customers. However, cash out is better at some bookmakers than others. The main factors are:
Some bookmakers also let you cash out accumulator bets as well as singles. This is very handy if you have an accumulator with a lot of selections, and the first few have won. You might decide that you’d rather take the money early instead of risk your profit by waiting for the rest of the results. It’s a good option to have.
Betfair Sportsbook is one bookmaker that offers cash out on both accumulators and singles. As Betfair generally offers good odds all around on both pre-match and in-play markets, their cash out value is usually very good.
Betfair Acca Edge is also available which although is not strictly a cash out promotion, it allows customers to receive their stake back as cash on multiples should just one leg fail to win. This can often be a good alternative to cashing out your bet should you know that your stake will be refunded should one selection lose.
Cash Out is a feature that is available at certain online bookmakers. It allows you to take your profit from a bet (or cut short your loss) at any time you choose. For example, let’s say you have bet on Man Utd to win. If they take the lead, you will have the opportunity to cash out your bet at a profit.
It works in a similar way in other sports. If the team or player you backed is winning, you should be able to cash out at a profit. If they are losing, then cashing out will mean you recover some of your stake and don’t lose the whole amount. You can also cash out on multiples. If the first four teams in your five team football accumulator win, you can take a profit before the fifth match is even played. The same goes for horse racing accumulators, or any other sport.
Most bookies have the main sports such as football and tennis covered. But if you prefer to bet on a wider variety of sports then not all bookmakers are the same. Some bookies cover more sports than others in regards to cash out, so you need to consult the list above to see which bookies offer cash out on the sports that you like to bet on.
Once you have cashed out, your profit is locked in and is usually credited to your account straight away. No matter what happens in the rest of the match, your money is safe.
Sometimes you might struggle to decide whether to cash out your bet early, or let it run for the full profit. In this case, partial cash out offers you the best of both worlds. Using this feature, you could decide to cash out just a part of your returns, and leave the rest running. By cashing in part of your returns, you can often guarantee a small profit regardless. But you can also leave the rest of the stake to hopefully secure a bigger profit at the end.
Not all bookmakers offer partial cash out. If this is something you want to use, consult the table above. Make sure you open an account with a bookmaker that offers this feature.
Auto cash out is a feature currently offered by just a few bookmakers. Auto cash out allows customers to set a profit which they would be happy with either prior to the event starting or in-play. Then, if at any point, the cash out amount reaches the amount set by the user, the bookmaker will automatically cash out the bet without the customer having to do anything.
For example, you place a £20 get on Man Utd at evens against Arsenal. You know it will be a tough game and would be happy with a £10 profit. You set Auto Cash Out to £10 and head out for the day. Man Utd score the first goal and their odds shorten meaning that your cash out amount goes up to £30. The bookmaker automatically cashes out your bet for you and credits your account with £30. It doesn’t matter is Man Utd end up winning, drawing or losing as your profit is locked in and already in your account. All this is done automatically with you not being required to be online at all.
Which bookmakers offer Auto Cash Out? Well, not too many. However, thankfully, a couple of the big ones do. Bet365 and Betfair are the main two and are both excellent choices for placing your bets.
Cash out amounts vary between bookmakers but the main factors are:
You should be able to calculate the true cash out value using the formula below.
((X*(Y-1)) – (X*(Z-1))) / Z
X = Your original stake
Y = Odds you placed your bet at
Z = Odds at time of cash out
However, you may find that the amount being offered by bookmakers is lower than the calculated amount for your bets. This is because bookmakers take a cut when you cash out your bet. It’s not ideal as it’s taking value away from your bet but many punters are unaware of this and are happy to be able to lock in a profit or cut their losses. This is the main reason why cashing out is actually a bad idea in the long term. Yes, your bet may lose completely if you don’t cash out but mathematically, on average, you are better off seeing it out to the end.
There may be a number of reasons why you are unable to cash out a bet. Firstly, cash out is generally only available on certain sports and markets. This varies between bookmakers but if you are considering cashing out your bet then it’s a good idea to check that you’re eligible to do so prior to placing your bet. Bookmakers usually display a cashout symbol next to eligible markets which makes identifying them a lot easier.
Another reason you may not be able to cash out your bet is that the market is suspended. This can happen when a major event has happened such as a goal, a penalty or a red card in a football match. These events have a major effect on the match and the odds and so the bookie will suspend the market until they can determine the new odds to publish.
You may also find that betting markets are suspended during the end of a match or race. During this time, cash out will become unavailable and if you haven’t already cashed out, you may be in for a nervy last couple of minutes.
Some bookmakers offer an ‘Edit Bet’ feature which may appeal to punters considering cashing out as it offers an alternative. This feature isn’t available at all bookies but we are seeing a few more offer it to customers as it becomes more popular. Bet365 is one bookmaker which offers a bet edit feature and began doing so in January 2017.
Bet365’s Edit Bet feature allows customers to ‘add, swap and remove’ selections from their bets. This can be done either pre-match or in-play. It also allows customer to increase their stake on their bets should they wish.
Let’s say that you placed an ACCA containing selections for Man Utd, Arsenal, Liverpool and Chelsea all to win at the weekend. The first three of your selections come in and you’re just waiting on the Chelsea match. Since placing your bet, you’ve become aware of a key few players missing from the Chelsea squad and now, your bet on Chelsea to win doesn’t look as attractive. At this point, you may consider cashing out but you could also edit your bet. You have the option to either remove Chelsea from your bet (essentially cashing out) or you could swap Chelsea for another team you think will win.
Bet editing gives customers a lot more freedom with their bets both pre-match and in-play and can often be a good alternative to cash out.
The new odds of your bet will be based on the current odds at the time of editing your bet. Essentially, you are placing a new bet at that time and cancelling your original one. The stake for your new bet is not your original stake but the cash out amount at the time of editing your bet. You could simply cash out your bet and place the new one but the Edit Bet feature makes the process a lot quicker and hassle-free.