Cashout (or cash out/cash-out) is a crucial feature of any modern online bookmaker, which allows you to 'settle' your bet before the end of the event.
Essentially, you are getting paid a portion of the funds before knowing the end result.
This is a de-risking tool you can use if you're having any second thoughts about your picks.
The cash-out function is vital in order for football betting sites to compete in today’s climate. Therefore, most serious bookies take measures towards that end.
The cash-out offering used to be rigid, but some betting sites now really make an effort to improve their cash-out function. Such improvements include:
Previously bookmakers would limit the types of bets available under cash-out, but as time has moved forward and bookies have gotten to grips with their margins, they have started to offer cash-out options to more and more bets, with Betfair, Sky Bet and BetVictor some of the best exponents of this.
Cashing out early is great, but sometimes we want our cake and to eat it too, so partial cash-out lets users take a proportion of the current winning bet, whilst letting the bet ride with a smaller amount staked. This lets players either bet elsewhere on another market or withdraw funds, however they see fit. This is available at William Hill, bet365 and other bookmakers.
Automatic cash-out lets users decide the point that their bet is cashed in and settled. Players can go to their bets that offer cash-out and specify a particular amount of profit or overall figure to reach, when this is achieved, the bet will be automatically cashed out to the user's account. Among the better football betting sites this is available, include Betfair Exchange and bet365.
- 100% cash out before the event
Sometimes when placing a bet pre-match, backers can get cold feet and decide against the bet.
In this case the ability to cash out and get your whole stake back before the event starts (as long as the odds haven't changed) is a particularly beneficial feature and one that the likes of Unibet and bet365 provide to users.