From the days of the first online wagers until now, sports betting operators have undergone various changes and innovations. Undoubtedly, the general transition from land-based establishments to online betting platforms has taken the gambling industry by storm. Placing sports bets online from the comfort of punters’ surroundings has been widely embraced. This tendency in turn made sports betting an exceptionally competitive business.
To remain on top, leading sports betting brands constantly introduced new features, which were designed to hold bettors’ attention and engage them in betting. The rest of the operators naturally followed the imposed successful business patterns. One such feature that has found a broad acceptance is the Early Cash Out feature.
Football betting fans can utilize the Early Cash Out feature at most of the popular online bookies nowadays both for single and accumulator bets, pre-match, and live betting markets. It gives them better control over their wagers, and they are enabled to collect their winnings before the match is over.
Traditionally, once a bet is placed, it runs throughout the entire match. By utilizing the Early Cash Out feature, punters can make guaranteed profits from their wagers, or bring their losses to a minimum. While this functionality sounds like a great risk management tool, bettors should be perfectly aware of when they should accept it and when they will be better off refusing it.
Early Cash Out Feature Explained
Many punters have found themselves in a situation where they placed an impulsive wager, and later, when the game did not unfold the way they expected, they wished they could turn back time or at least reduce their losses. Just several years ago, bettors could simply do nothing about such situations. That is why the introduction of Live Betting and the Early Cash Out has been regarded as a great innovation within the sports betting industry.
The reason why the Early Cash Out feature is widely embraced and utilized is its straightforwardness. Once punters place a bet, the odds of their selected market change, based on in-game events or the pre-match news, affecting the outcome. Based on the available odds, punters can take advantage of the Early Cash Out feature, as long as it is available. Its availability is usually marked by an icon, indicating whether the specific wager could be settled before the end of the sports event.
With the Early Cash Out feature, punters do not have to wait for their bets to settle naturally. They may choose to Cash Out at a point of their own choice. The price of the Early Cash Out depends on a variety of factors affecting football matches, and the respective figures will be made clearly visible for bettors to calculate their payouts.
Let us assume that we have staked €10 on Arsenal to win a forthcoming match with Chelsea. At odds of 1.90, we stand a chance of winning a total return of €19. However, the team is doing well and the odds are decreased to 1.20. To calculate the Cash Out value, we should divide the original potential winnings by the decreased odds. Thus, the Cash Out offer at this point would bring us €15.83.
Should punters wish to use the Cash Out functionality, they simply need to click on the Cash Out button available for their selected market and accept the offer. Their wager will be settled in advance of the game’s end, and it will not be affected by the outcome. The odds offered for the Early Cash Out feature may be higher or lower than the odds of your original selection, depending on the specific circumstances. Once confirmed, Cash Out requests are processed by the bookmaker’s team and paid out accordingly. Cash Out offers have their terms and conditions, which vary across different operators, and bettors are advised to read them in advance.
Examples of Early Cash Out
Let us now see how a Cash Out feature could be utilized in accordance with the circumstances of football matches. Let us return to our example, the fixture between Chelsea and Arsenal. A punter decides to place a wager on Chelsea to beat Arsenal at odds of 1.90. As the game unfolds, a couple of unforeseen injuries lead to a result of 2-0 in favor of Arsenal, and there are 25 minutes left to play.
At bookmakers, where the Early Cash Out feature is available, punters may take advantage of the opportunity to cash out early and thus mitigate their losses. The price that the bookie is going to offer depends on a range of different factors. Bettors can make the most of the situation and cut their losses to a minimum, which otherwise would not be possible.
However, punters should note that the Early Cash Out feature can be used not only to minimize losses from unsuccessful wagers. They can also exploit this functionality to ensure their profits well in advance of the end of the match.
Let us now imagine a different scenario, where Chelsea leads Arsenal by 2 goals, and again, we have 25 minutes until the end. To secure a profit from our wager, we may choose to cash out at this point, and at the cost of slightly less attractive odds, to take the risk out of the situation. For 25 minutes, Arsenal may be able to either draw or win the match. Although the Early Cash Out offer may not be as attractive as the original odds of 1.90, many bettors may choose to lock in a secure profit, instead of taking the risk and waiting till full-time.
The Early Cash Out feature also finds an excellent application in accumulator bet management. Let us now assume that a bettor has staked €10 on a five-fold accumulator including five matches from the Premier League. Three of the fixtures (Tottenham, Manchester United, and Arsenal) have ended in favor of this bettor and there are still two left to go (Brentford and Newcastle) until the success of his accumulator bet will be known. With a stake of €10, this accumulator bet has the potential to bring a total return of €187.21. At this point, the bettor may have a chance to cash out his bet early, getting a total profit of €167.10.
|5-fold Accumulator Bet on match results from the English Premier League
|Early Cash Out Offer
While this offer has made the final payout less substantial than the original one, it eventually turned out to be a wise move since the very last fixture did not end the way this bettor has initially predicted (let’s imagine that Newcastle lost to Crystal Palace). As many bettors probably know, if a single selection from an accumulator bet loses, the whole wager loses. Therefore, an Early Cash Out of an accumulator bet might be a very good decision in certain situations.
Partial and Auto Cash Out
The scenarios described above serve well as examples, but sometimes, real-life situations may be more challenging, when it comes to making the right decision. Besides the Early Cash Out, some bookmakers offer Partial and Auto Cash Out features as well.
Punters may use the Partial Cash Out feature when they are not sure how to handle the situation in the best possible manner. By deciding to partially cash out half of their wager, they may secure half of their winnings and leave the remaining portion of their wager active.
The Auto Cash Out feature is ruled by preliminary set parameters. For instance, once a punter places a €30 wager, he may set his bet to automatically cash out when the Cash Out offer reaches a certain value, let’s say €25.
The Early Cash Out is a great tool, enabling bettors to lock in profits or minimize their losses with a click of a button. What is of essential importance for bettors is the ability to pinpoint the exact moments when it is reasonable to accept a Cash Out offer and when it is better to refrain from using it. The feature is also perfectly suited for managing multiple bets, due to the greater control and flexibility that it delivers. Overall, bettors can increase their betting performance substantially, if they know how and when to implement the Cash Out feature into the process.