Redemption of a bet in a bookmaker: what is a cash out and how the Cash Out function works

Redemption of a bet in a bookmaker: what is a cash out and how the Cash Out function works
Cashout in bets allows you to take profit ahead of schedule and insure against losing the entire amount. But how does Cashout work?

The cashout function appeared in bookmakers around 2011. First in the UK, and then in Russia. Thanks to Cash Out at the bookmaker, the player can receive a payout on the bet before the event ends - either take the profit or reduce the loss. In this article, we will explain what a cashout is, how to redeem a bet and when to do it. You will learn about the pros and cons, disadvantages and advantages of cashout in a bookmaker.

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What is the cashout function

The concept of "cashout" (from the English "cashout" - to withdraw) came to sports betting from trading on the stock exchange. The "cashout" function in betting means a situation when the bookmaker buys out the bet from the player even before the end of the event. The redemption amount is offered by the bookmaker.

Cashout in bets is used for insurance in two cases.

  1. The match develops according to a favorable scenario, and you take profit ahead of schedule. You will be given less than if you won the bet.
  2. The match develops in an unfavorable scenario, and you take the bet ahead of schedule. The refund will be less than the stake.

When to buy out a bet in a bookmaker ahead of schedule

Let's take a look at examples when buying out a bet in a bookmaker's office via the Cashout function will be useful.

  1. You bet on Barcelona in the match against Real Madrid: the odds to win were 2.50. Messi and company were leading 2: 1, but in the 80th minute one of the Barcelona players received a red card. The chances of victory for the Catalans are not so high anymore, but the odds are below 2.50. With the cashout option, you will not only insure yourself against losses in the event of a draw or victory for Real Madrid, but also receive a portion of the potential winnings.
  2. A couple of days before the Liverpool - Arsenal match, a bet on total over 3.5 goals seemed optimal to you. You made a bet, but before the event started, you learned that the coaches were resting the best strikers. You can use the "cashout" option with minimal losses.
  3. You bet on Spartak in the match against Zenit. The odds for the victory of the red and white were 3.80. While watching the match, you see that the red and white do not create dangerous moments and are trying to keep the draw, and the St. Petersburg team is attacking. Using the "cashout" option, you can get back part of the bet. It's better than nothing.

For the Cash Out function to be profitable, one condition must be met: (current odds) (bet odds). The redemption amount will be greater than the bet amount when the current odds for your event is less than the one at which you bet on this event.

Pay attention to the following nuances.

  • The redemption amount is always less than the potential payout of the bet if it wins. You will never get full winnings.
  • The "cashout" function is available both before the start of the event and in real time - in live. However, for some outcomes, the redemption of the bet is not possible. There is almost always a cashout for bigmarkets.
  • Experienced players use the cashout option to reduce losses. When the bet does not come in, the redemption of the bet allows you to reduce losses.

Examples of calculating the "cashout" function

Let's analyze the situations when the redemption of a bet brings both benefits and harm.

  1. You bet on Bayern's triumph against Juventus. The odds for the victory of the Germans were 2.90, and the stake was 10 thousand rubles. Potential payment - 29 thousand rubles. If Bayern scores 2: 0, then the office will offer you a redemption of bets in the amount of up to 25 thousand rubles, or even more, depending on which minute passes. Using the "cashout" option, you will receive a solid profit, but in any case, 4 thousand less than if you won the bet without redeeming the bet. If you decide to abandon the cashout and the match ends in a draw, then this will be a major failure and will result in the loss of 10,000 rubles.
  2. You made a bet of 2 thousand rubles on Dynamo in the match against CSKA. The coefficient for the victory of the blue and white was 4.30, and the potential payout was 8600 rubles. By the 80th minute, the score is 0: 0, and you buy back the bet to reduce the loss. The bookmaker will return you several hundred rubles. But if Dynamo snatches a victory in the end, then you will receive only 250 rubles, although you could have 8600, having refused the “cashout” function. If the blue and white do not succeed, then you will save at least something.

Pros and cons of the cashout function

Experienced bettors point out three advantages and disadvantages for the option of early redemption of bets.

Cashout has the following disadvantages.

  • You pay the margin twice: when you bet and when you redeem your bet.
  • The "cashout" function for an express bet increases the margin even more compared to buying out a single bet.
  • Irrational use of cashout reduces profits.

The advantages of the redemption rate option are as follows.

  • The ability to reduce the loss when the rate clearly does not enter.
  • Taking profit on a risky bet.
  • Convenience: you don't need to waste time on calculations if you want to insure your bet - just click on the cashout button.

Important points to remember about the "cashout" function

The Cash Out option gives you additional flexibility. Before its appearance, the bet had to be insured manually: the players counted the required amount and placed it on the outcomes opposite to the initial bet. However, you pay the margin twice - this is the bookmaker's commission for cash out bets. Therefore, use the Cash Out function to redeem a bet in a bookmaker with caution.

This article was published thanks to the"Excelbetting.com" Betting Software Analysis Study sports betting, take tests, earn experience and beat the leaderboard. Outrun the editor-in-chief!