If you’ve placed a few sports bets before, you’re probably already familiar with the cash out feature. Cash out offers are made in real time, allowing punters to grab their cash before the end of the game. This popular addition to pre-match and in-play betting puts you in the driver’s seat – you can lock-in a profit or cut your losses in seconds! If you’re new to sports betting, or simply haven’t come across the feature before, you might be wondering how and when you can take advantage of the cash out feature. We’re here to take you through the ins and outs so you can start cashing out to land some big wins.
Everything you need to know about the cash out betting tool
How does cash out work?
The concept of cashing out is very simple. Punters love it as it gives them control over their returns while their bet is still in play. There are numerous scenarios we could use to highlight the functionality of this tool, so let’s take a look at a few examples.
- A single bet: using cash out on a single bet allows you settle the wager before the conclusion of the event you are betting on. Let’s say you’ve placed a bet on the rugby, for example. In this instance, your team is leading at half time and everything’s going pretty well. But then things take a bad turn for your team in the second half . Such a swing in momentum might leave you feeling unsure about their ability to see the game out. With cash out, you have the option of taking the money offered by your bookie, which is still likely to be in the green considering your pick is winning the match.
You can also use cash out to limit your losses during a bad day at the bookies. Let’s say you’ve had a punt on a tennis match, for example, and your pick drops the first set. If you think this spells bad news for your pick and can’t see a comeback, cashing out early allows you recoup some of your stake.
- Multiples: If all of the selections in your multiple support the cash out feature, you’ll be able to cash out on doubles, trebles and beyond! You could easily cash out to cut your losses if a few of your selections aren’t faring so well. However, the most lucrative cash out offers come along once some of your picks have already won. If you’ve placed a 5-fold horse racing accumulator, for example, and three of your horses have won, you’ll likely be able to grab a tidy profit before the next events even kick off. This just goes to show how cash out puts you in the driver seat.
Partial Cash Out
A number of bookies allow punters to remain in the game despite cashing out, thanks to the partial cash out feature. As the name suggests, this allows you to collect some of your winnings, while leaving a portion of your stake in-play. You’ll have a great range of partial cash out values to choose from, depending on the bookie.
Why do bookies offer cash out?
Betfair is widely credited with the invention of the cash out tool for use on its betting exchange. Yet due to the overwhelming popularity of this feature, traditional bookies soon followed suit.
Whilst there are obvious benefits for punters, it’s also a potentially profitable tool for the bookmaker as well. As you’d expect, the cash out value offered by the bookie is almost always less than the actual potential winnings should the wager win. By accepting a cash out value that’s only a portion of your potential winnings, you’re cutting the gambling operators losses should your selection go on to win the event. On the flip side, there’s always the chance that you could get one over on the bookie and land a profit on what turns out to be a losing bet. Your cashed out winnings are usually available shortly after the bet has been settled, so you’ll be able to request a withdrawal using a payment method such as PayPal, within minutes.
What else do I need to know?
Cash out markets
The sports and markets which offer the cash out feature vary from bookmaker to bookmaker. Commonly, most bookies will offer cash out on football, horse racing and tennis. However, the top cash out betting sites go that extra mile and include other sports like basketball, cricket, rugby and baseball, to name just a few.
Bonuses
While you may find the odd exception, cash out isn’t available for most bets made using bonus funds. Furthermore, cashed out bets usually don’t count towards the wagering requirement of any bonuses you’ve used, including but not exclusive to matched deposits, no deposit bonuses and free bets.
Despite these limitations, you’ll still be able to use the cash out feature in conjunction with a number of promotions, including price boosts, faller insurance, enhanced doubles, trebles and accumulators.
Find a top cash out bookmaker!
Now that we’ve taken you through everything you need to know about using cash out at the top betting sites, it’s time to pick out your perfect destination and try to land some profit. We’ve lined up the best licensed bookmakers in New Zealand offering cash out across a range of pre-match and in-play betting markets. All you have to do is pick one, sign up and place your bets. When your bets are in play, you’ll be able to cash out on a desktop or mobile app within seconds!
