During the football, there are always plenty of ads at half time offering different betting offers, and some mention a “cash out” option. But what does this actually mean?
The cash out phenomenon is fairly new and mainly applies to people betting on mobile phones or tablets, although it can also be used by desktop users as well.
The idea is that customers who have placed a sports bet before an event might find that their bet is in a winning position during that event. For example, they may have bet on a team to win a football match and find that their team is winning 2-0 at some point during the game.
Now obviously since the game has not finished, there remains the chance that the bet will not end up winning, as the opposing team could come back into the game. And that is where “cash out” comes in. It gives the customer the opportunity to lock in the profit from their winning position at any point in time.
If they choose to exercise this option they will cash in their bet at a lesser amount than they would have received had the bet been left to run, but the benefit is they will be guaranteed to receive the cash out value whatever happens in the remainder of the event.
More information and examples of cash out betting can be found by searching for which bookmakers offer this facility (since it is not available everywhere). If you’re a casual punter who likes to watch live sport, this could be something you want to check out ahead of the new football season.
You should always make sure to check that cash out is available on the market you’ve bet on. Also note that it is not always available if you have taken a special offer, such as an enhanced odds bet, before the match.
The informational video at Betfair Learning explains more.