This is a term that is being used more often lately, however, it is nothing new. Bookmakers have been offering this feature for a while now and even though it may seem like a nifty way to save face, it was designed by bookmakers to ensure they minimise their losses before the game is done. You would be forgiven for thinking it was the right thing to do if your team was losing, but what you must keep in mind is the fact that the bookies will always keep a percentage of the funds you initially deposited. So, in actual fact, the punter is always on the losing side no matter how much you may think you have saved due to pulling out before the culmination of the event.
The cashout is basically used by punters, if you are thinking of doing it here are a few things to keep in mind. Should you choose to cash out, you will need to decide upon this before the final result of the event or game. This is considered to be a great way for punters who are not confident of their bet to save a little money by not losing their bet amount. There are usually two major reasons why punters will make this choice.
The first instance in which a punter may choose to cash out early is when they feel like they are holding onto a losing ticket. So, for example, you placed a bet on your favourite team, who, if you take the odds into account were meant to actually win the game. Towards the end of the game it becomes increasingly likely that your team will eventually lose the match, this is when you decide to cash out. By cashing out early you are making sure that you do not lose your entire bet amount.
The second reason is very similar, the team you have chosen to bet on is actually in the lead during the initial stages of the game, however, you feel that there is a chance that they may stumble towards the final stages. This is when you will cash out early and in doing so will be able to keep a certain amount of your entire bet amount.
This can sometimes work out in your favour if your team does not win the event, it is better to get out with a little bit of money rather than losing all of it on the bet. Keep in mind though, no matter what happens with a cash out the bookie always wins.
Make sure your bookmaker actually offers the cash out option beforehand.
In recent years it has become very noticeable that more and more bookies will offer the cash out option. There is a simple reason for this. The industry has seen quite a rise in punters are willing to do early cash outs in the hopes of not losing all their bet. This has turned into an extremely lucrative factor for bookies the world over. By pulling out of a bet early, the punters are forfeiting a certain amount of their bet. This can fluctuate heavily depending on when they choose to do this. The amount they will get back varies depending on a few factors. For instance, should you pull out while your team is still in the lead you will get better odds and therefore get a higher amount back, keep in mind that you will never be able to recover your entire bet. Should the punter choose to cash out after their team has conceded a goal or is losing, the amount offered back due to the odds having dropped will be significantly less than the prior example.
Most bookmakers have caught onto the fact that punters are extremely impatient. They have realised that you are highly likely to perform a cash out if your team is losing just because you are given the opportunity to at least get some of your money back. More often than not, punters will cash out early if their side is losing, but in all honesty, they are just increasing the revenue of the bookies themselves.
It is also advisable to make sure your betting provider offers this option though, because even though the majority of them do, there are still quite a few out there who do not provide this feature.
There actually are some benefits to the cash out system for punters, but this will only apply to a bet that was placed ages ago and now that the situation has changed slightly, the bookies will offer you decent odds should you wish to cash out early. Remember that a cashout is a live bet, so the odds will be changing constantly throughout the game or event. Make sure that you are watching the event in real time so that you have a better idea of what the outcome will be and whether or not you take the cash out.
If you are not able to watch the game live, most bookies have a live stats facility where you will be able to keep track of the events unfolding as they do in the match. This all ensures that you will be making an informed decision and hopefully making the right call as to what the final result will be.
The odds get terrible if your team is losing, but this doesn't seem to have affected punters much. They rule of thumb seems to be that it's better to lose a little than lose all of it.
It is vital that you make sure the cashout bet is being offered on the particular match you have chosen to bet on. All too often punters just assume the cash out is on the table when in actual fact it is not. The bookies will usually not offer the option on favourites, however, if they do, it will be a miniscule amount on your total bet.