What is Cash Out (Close Bet)?

What is Cash Out

This is a Cash-Out option that you may also find under other names, such as Close Bet. However, its basic idea is the same, and it means that even before the end of the sporting events, you will have the opportunity to break the bet in your slip by eliminating the risk of losing at the expense of lower profit.

When is it appropriate to use the Cash-Out option?

Cash-Out is a great convenience for consumers, regardless of whether their bet goes to profit or loss. Imagine betting 10 on a straight column of five games, with a potential profit of 100. The first four of these are already out, and you only have one last date. The bookmaker, however, offers you to close the bet and immediately raise 65, regardless of the final outcome of the last match.

In other words, you buy peace of mind. Of course, this is just a fictional example, whereas in a real situation, the amount offered to close a bet depends on various factors.

Another option in which Cash-Out would be helpful is if your bet does not go its best and you consider that the odds of it being non-winning have increased. In this case, closing the bet would not be to provide you with any profit, but to limit your losses. For example, if you bet 50 on a 2.00 odds on a Barcelona unit in their Real Madrid home, but ten minutes before the end of the match the score is still 0-0 and the game is equivalent, then the bookmaker will suggest you close the bet on a lower amount than your invested 50. The rest is entirely a matter of choice.

Cash-Out is an attractive option, especially when used in live matches. In them, you can watch the match and depending on its development, predict whether your bet will be successful before it's too late.

When can I use Cash-Out?

The Cash-Out option is usually available for almost all live events, as well as meetings in more popular sports and championships, but not in all their markets. However, this is again at the discretion of the particular bookmaker. It is important to know that if a meeting is not offered live, you will not be able to close it live. Not every match offers a close option, so accept the Cash-Out feature as a bonus feature that gives you more control and flexibility over your bets and limits your risk. It is definitely not a good idea to base your selections on how and when you should close them.

In most bookmakers, there is virtually no guarantee that you will be able to close before the bet is placed. At Betfair, however, all available appointments that offer Cash Out are complemented by a special yellow box icon that suggests this. That way, you will know before you place a bet that you can subsequently close it.

What does a Cash-Out bookmaker make?

Keep in mind that the Cash-Out feature is not made for more profit for users, as it would also mean more losses for bookmakers. When determining the amount that you would receive to close a bet, the bookmaker calculates the winning probability of your selection and then offers you a portion of it so that purely statistically it is more plus than minus.

If the last minutes of a match you play are in which, if nothing changes, you will win $ 100 and say that the bookmaker has set a 90% chance of winning your bet at this point, then the cashout rate will drop to about 85 % and the offer you will receive for closing a bet would be 85. A game of overlaps between users and bookmakers, in which either side might turn out to be profitable, but ultimately mathematics is not on your side.

How do I use Cash-Out?

In all Cash-Out bookmakers, the option is intuitive and easy to use, and when available, you will usually find a button near your bet that will allow you to close and see the corresponding winnings in your account in seconds. for the mobile or desktop version of the book. In Betfair and Winbet, the button in question is named Cash Out, while for Bet365, Efbet and PalmsBet you will find it as a "Close Bet". However, his role is the same.

There is no way that Keshaout will be so widespread functionality and not be useful. Most bettors are used to it and often use it as it offers additional betting flexibility and can virtually reduce or completely eliminate the risk of losing.

The main drawback of it, which is something quite expected and in the order of things, is the fact that with Cash-Out your ultimate profit will be lower than the potential one, knowing all your selections. Another aspect that might irritate you is the slight delay of a few seconds when the bet is closed in a live match.

You understand that the live situation is extremely dynamic and an event can happen at any moment that will dramatically change your proposed Cash-Out amount. In this case, you have nothing to do and no one cares that you pressed the close button two seconds before the goal.