With bookmakers advancing in their options over the past few years, there are plenty of new betting options that we didn’t have a decade ago.
One of those new betting options is Cash Out, which allows you to take a profit whilst the event is still finishing.
The amount of cash depends on plenty of factors, from the predicted outcome of the game, odds and how much the bookmaker can afford to take a hit on, in order to mitigate their losses.
It’s a pretty popular option on Accumulators but not limited to just those, we’ve also seen them offered on some in-play bets and these betting options are changing & evolving over time.
It can be tempting, after all, no one can predict the future. A bet that’s going well can always go south.
Is Cashing out worth it?
Well to fully understand the pros of cashout, we’d need to look at the alternative betting options.
Of course, a Punter could just ride it out and take an all or nothing approach. That might work out fine but taking some profit instead of none is obviously a more sensible choice.
There is no one size fits all rule for this but if you’re not feeling confident about the last few bets on your Accumulator, it’s probably sensible to take a profit.
Is it time to Cash Out?
We’ve already discussed you should probably cashout if the event isn’t going how you expected and you think the results are not going to happen anymore. Why risk profit & your initial stake for something you do not feel confident in?
If the team isn’t performing well, or the top players are not in their element anymore because it started raining, anything that is unexpected can reduce your chance of winning so if there is any doubt in your mind, you should probably cash out!
Not sure if you should cash out?
- Do you have a lack of cash & liquidity?
- Is there much more value in not cashing out?
- Have you not taken profit in a while?
Am I ready to Cash Out?
It’s probably common sense, but Bookies are actually benefitting from you cashing out. There is no guarantee or any way to forecast what will happen and Punters can often be fearful when there is a large amount of money on the table. It’s emotionally safer & more guaranteed to take some profit than go for the bigger reward.
Bookies capitalise on that by allowing to cut your bet short. By doing so they mitigate their risk in the chance that your bet wins. It’s also a gamble for them though because your bet could have ended up losing from events playing out in a certain way.
For a Punter, Cash Outs offer flexibility & the ability to take some profit when you no longer feel confident in your bet but also lose the ability to ride out what could be a very profitable bet.
We suggest trusting your instincts with this one. Think about the reasons why you placed the bet in the first place if those reasons still have justification stick with it, but if there is any doubt for those initial reasons, it’s probably best to take a safe profit.
What we can say is that Cash Out gives you more freedom and flexibility and that’s always great. It’s a great option to use if the situation calls for it.