To cash out, or not to cash out, that is the question that’s become all too familiar with modern sports betting. Cash out betting (often called cash in betting) is an option heavily promoted by all the major bookies and punters seem to love it. But what is it, who offers it and should you be using it?
Cash out betting is a bet in which the punter has the ability to request a return before the event or events have finished. It is a relatively new feature, offered by many of the bigger bookmakers, and is billed as a feature giving you more control over your betting.
Which betting sites do cash out? With this not being a standard feature and a relatively new product there isn’t a massive list of bookies offering cash out. Here we’ll try to keep an up to date list of all the best sites that have the cash out option.
It would be rude not to start with betfair as they are the inventors of the cash out feature, lunching it on their exchange platform in 2011 and then promoting it via a TV campaign in October 2012. In a recent presentation betfair hosted on product and technology it was said that cash out betting was the second most cited reason for joining betfair and that in the last year they had completed over twenty million cash outs.
Needless to say, a product advantage with the type of success cash out betting was making does not last forever. With many other bookmakers now offering cash out bets and promoting the feature heavily in their promotional material. With those that are failing to keep up with market trends falling further down the bookie pecking order.
Betfair now offers cash out on both its exchange platform and its sports book. Letting you do in-play cash outs, multiple cash outs and lay bet cash outs on desktop, tablets and mobile.
The stand out leader in the world of sports betting, Bet365 weren’t slow in offering cash out betting. And like everything they do they have done it well. Bet365 offer a large selection of markets to cash out and you can do it on any of the multiple bet types they offer, accumulators, Lucky 15, Yankee, etc. Just look in the bet slip current bets and at the bottom of each active bet you will see the cash out button and the amount returned.
Sports betting’s lovable rouge, Paddy Power. These guys like to play by their own rules, from there guerrilla marking campaigns to the trolling they do on twitter, Paddy Power like to do things differently. Well not with cash out betting, when they saw the success and amount of extra bets it generated for others they were more than happy to fall in line and offer the cash out option. Paddy’s offers cash out for Single and accumulators on a selection of pre event and in play markets.
Sky bet are currently in the infancy of cash out betting, they currently only offer it for a selection of football betting markets and for mobile customers. But I’m sure this won’t be the case for long and it’s just a case of them ironing out any problems.
Sky bet have tried to be a little different in how they have offered cash out, they have packaged it in alongside some other service and called it Sky bet tracker. Within Sky bet tracker you have three tools – cash out, bet status and match stats, but it is just a fancy cash out tool.
One of the old stall warts of sports betting, William Hill. Some of the big traditional bricks and mortar bookmakers have found it hard keeping pace with the ever evolving beast that’s online betting, but William Hills seems to have handled it best. And as such they made sure they also offer cash out betting, although they have decided to call theirs cash in my bet.
William Hills offers cash in betting on football, tennis and darts. Markets available can vary on a match to match basis and no cash in is available on outright markets.
Unibet is another bookie that calls cash out, cash in – or more precisely Ca$h-in. They only offer it for single live bets, so no accumulators. They also say they might not offer cash out for the whole game.
Coral offer cash out betting on selected football matches on the match result market only, for singles and accumulators. They say not to bet with the sole intention of cashing out as its availability can never be guaranteed.
In the fast paced world of sports betting I’m sure there are other bookmakers working on having the cash out option, so please give any bookie offering cash out betting thats not listed here a shout out in the comments section and I’ll get them added.
Since writing this article several new bookmakers have added cash out to their functionality. People have told us about them in the comments section. To save you the time of going through all the comment I thought it best to add a list of new cash out bookies right here. It is only a tiny list at the moment but I’m sure it will grow to include nearly every major bookie.
The fact that many bookies are looking to jump on the cash out betting band wagon should tell you that it is making them a lot of money, which is generally a bad thing for punters. But cash out is really just a new name given to a very old tactic used in sports betting. You have always been able to cash out in certain instances. For example if you had just one game left on your accumulator you always had the option to then bet on the opponent. And with the advent of betting exchanges and in-play betting you then also had the ability to lay your selections at any point in the match.
So cashing out can be a successful practice, the difference however, with the cash out button is that in general you are not taking advantageous odds. In fact most of the time you don’t even know what odds you are taking and just see the pay-out. From what I have seen the margin the bookie works to is increased for the cash out portion of a bet. So to answer the question should you be using it, I say defiantly not for single bets, as you can close the bet out manually yourself (discussed in the next section) and you also have the freedom of choosing how much to cash out. As you don’t have to cash out with all outcomes paying the same return – you might just want to guarantee you get your stake back.
Accumulator cash out on the other hand might be worth it as you have no other means of closing the bet. I would advise to let your bets ride as long term use of the cash out button will eat into any value you might have been finding when initially placing the bet, but it is easier said than done when faced with a big pay-out or losing the lot.
If you want to cash out I’d always recommend doing it manually. I know the ease of the one click button is tempting, but if you learn the skills needed to cash out on your own you will be making yourself more money. Firstly let me say that you can only do this on single bets or accumulators that only have one leg remaining.
The skill you need is that of arbitrage betting, a common tactic used by experienced punters. The maths involved in arbitrage betting is not particularly hard but to make things even easier we have made a back-lay calculator and a dutching calculator that does it all for you.
As each and every bookie has their own set of T&C’s I will just outline the main points you should look out for.