Remember when you used to play Snakes and Ladders? What did you do if you had just gotten eaten up by a snake while your opponent was on 99?
Well, we know many people who just turn over the board in a fit of rage or just declare that “This is not fair”.
This was just an example. Imagine if you have two bets placed on two different teams. One of them won and you won, but the other was losing or they could lose. Wouldn’t it be fair to have a choice to pick up your winnings and just leave?
Well, you now do! This is termed as ‘Cash Out’.
Understanding Cash Out
The concept of cash out is a fail-safe of sorts which is provided by almost all sportsbooks. With this feature, you can get your money back which you had placed on your bet before the event you bet on is over.
However, there is a small catch. When you do cash out, the amount of money you receive can be less or more than the initial stake. This is because the money you receive will depend on the current likelihood of you winning your placed bet.
The provision of cash out is given only for the bets which are made in-play or when the event is going on live. For example, a football match after it has kicked off or even a horse race which has already begun. The cash-out option will not be available for regular match bets.
The option of cash out is decided by the sportsbook operator and the takeaway amount will also be decided by them given the volatility of the game and how it can all turn out in the end.
In a match or any sporting event, the last few minutes are the most crucial. Depending on this and several other factors, the cash out is decided. However, there are games where in the last few minutes of the game, the results of the match become clearer, even though there is a factor of unpredictability.
Factors involved in a Cash Out
The cash out bet as already established is only available to live markets and in-play betting. However, these live matches are often subject to time delays and lags which can hamper the bets and the cashout amount. Especially if either party is not updated, the existing cashout offer can become highly volatile depending on how the match is going.
As and when the chances of winning change, the cashout option can decrease, increase or removed altogether at the sole discretion of the sportsbook operator.
Some examples in action
Say you have placed a bet of Rs.100 on the double on the upcoming EPL match on Manchester United and a bet on Chelsea. The odds of Manchester United winning are 2.5 and Chelsea taking away the win is 3.5. The cashout offer from the sportsbook operator is shown as Rs.240.
So now hypothetically, Manchester United win and the Chelsea match is about to kick-off. In this scenario, you can opt for a cashout option and take home Rs.240, even if Chelsea loses the match. However, if you wait and think that luck, odds and the stats of Chelsea are on your side, you can wait and take home a lot more.
The moment you choose the option of cash out, the Rs.240 is sent to your account immediately irrespective of the outcome of your second bet.
To conclude, we at Bet India cannot stress enough that Cash Outs are highly volatile and can change or be removed indefinitely. If there is a large activity of bets and cashouts happening on a match, the cash out can be removed and a new one might appear. So, we advise you to wait, understand the odds and if you think, you wish to take the safe way out, cashout is your best bet!