What is Cash Out In Betting?
Cash out is a dynamic moving process in sports betting. It refers to the process of settling your bet early, so you receive a partial payout (normally less than the actual win amount) before the fixture has ended and the outcome of the bet is concluded.
Very popular in sports events like cricket and soccer because events can change so dramatically as the games unfold. The outcome of a cricket game can swing as one team or the other advances towards a result and that means the probability of winning a bet can also swing based on the direction of the game.
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How Do You Cash Out a Cricket Bet?
Let’s use an example of how a cricket fan might cash out their bet. Imagine India are playing England in a Test Match and they are trading at 2/1 (3.0) to win this particular match.
You might stake ₹2,000 on India at these odds. This would mean you would get an overall return of ₹6,000 if India managed to beat England in the Test Match (₹4,000 profit plus your ₹2,000 back).
However, it might be that India are doing really well in the Test Match and their chances of victory have increased after Day 1. That means their odds have shortened and you might have a Cash Out value of ₹4,000.
As a punter, you are now faced with a choice. You can potentially make a ₹2,000 profit on your original bet by cashing out for ₹4,000 or alternatively stay in the bet and hope that you end up landing a much larger return of ₹6,000 by winning with your original bet.
If you choose the Cash Out option, it’s simply a case of tapping on Cash Out and then confirming that you want to take this amount. If you decide against cashing out, then you simply disregard the offer and continue as per normal.
Bookies Buying Your Bet
In principle the bookies are offering to buy back your bet for a reduced price, which supposedly mitigates losses and reduces their liability for that market.
Why do bookies offer cash out?
Increases Profits: When cash out is offered, the bookmaker normally calculates a price based on the live odds for the market you’re betting on. They’ll offer a cash out amount at a price that is lower than the current live odds, should you decie to place a similar bet inplay. So this theoretically allows them to make a profit on the bet, balanced against what they would have paid out if it wins and you chose not to cashout.
Reduced Exposure: The theory mentioned above is actually about reducing the bookmakers exposure for that period or that event maybe, depending on how they measure it. Before the cricket match starts for example, the bookmaker will know it’s potential losses (exposure) if certain bets settle as winners. Take horse racing as an example, if the favourite wins and the bookie has taken 1000 bets on that runner, they’ll know what they’re set to lose as the race starts.
By offering cash out, the bookie mathematically reduces that exposure during the live running of the race or inplay for a cricket fixture, which could be seen as a shrewd move in financial terms.
Customer Experience: Cash out also represents a feature rich addition to the betting experience as is seen a standard offering of any standard online sportsbook. There are variations of the feature developing all the time, with partial cashout and editing bets that reduce the price. But fundamentally cash out is not seen as a standard function of a sportsbook offering
It can also enhance punter profits as well bookie profits if you develop a knack for cashing out when you see profit on the bet. So it can be rewarding if you take a chance on not earning the full win amount, but instead take the cash out when you see profit in the bet. It can be quite lucrative as a strategy, considering the volatility of T20 cricket for example and the way those games change, looking for pure profit, rather than outright winnings, could be viewed as a more tactical approach sports betting
Responsible Betting: Cash out can actually be seen as a responsible way of betting as in the case of a punters bets, it can be viewed as a way reduce risk of losing, while enhancing the fun element of your betting experience without encouraging more spend to change.
Cash out always has an upside. It may the case that your are getting less than you put in, but by principle alone you are always getting something back from the original bet.
How To Partial Cash Out a Cricket Bet
There’s sometimes a middle ground when it comes to your online cricket bets. You might place an online cricket bet such as the above and then get the opportunity to execute partial cash out.
Partial cash out is a great option if you want to take some of the money out of your bet and it’s often a case of using the slider functionality in order to take a certain amount. It might be that you want to achieve a slight profit and leave some money in the bet.
Alternatively, there is sometimes the option to cut your losses and take some money back while hoping that your original selection ends up winning.
Partial Cash Out With Bet365
Bet365 are regarded as the kings of live betting. The site is designed with inplay markets at the forefront of their product, giving their site a really dynamic feel with ever changing markets and fixtures
Partial cash out is a core feature of the Bet365 betting experience allowing you to trade in a percentage of the bet and reduce your risk of losing money. BEt365 are one of the best sites around for live betting and this make their cash out technology feature rich and more reliable than sone of their counterparts in the cash out space.
There is also the chance to enjoy live cricket streaming and there are thousands of live streams being provided so that you can log in with your funded betting account and watch high definition streams along with audio commentary.
You should also be able to enjoy cash out when placing live In-Play bets with bet365. There is often the chance to take Partial Cash Out as well as Full Cash Out and the amounts that you are offered are always fair.
Once you have verified your betting account, you are then able to claim a welcome bonus. This is in the form of a deposit bonus, so you need to choose from the available payment methods and then make a deposit. You can see the corresponding bonus amount which can be claimed.
In terms of depositing, there are lots of different options that Indian cricket fans can choose from. The most popular are UPI, AstroPay and Indian Net Banking, although there are a myriad of options and it’s a case of registering your card or banking details in order to facilitate a transaction.
When you’re in a position to make a withdrawal from the bet365 Android app, then you simply need to select from the available methods. It might be that you don’t have the choice to withdraw back using the same option that was utilised to deposit. Therefore, the best option is to go for wire transfer.
Bet365 are arguably the world’s leading bookmaker and they are very strong for cricket betting, with a huge number of pre-match and In-Play betting markets available for the Indian Premier League. The same applies to the Big Bash League and the Pakistan Super League, while Test Match cricket is also given the royal treatment.
