Is the Cash Out Feature with Bookmakers Beneficial to Punters?
If you’ve been a punter betting on your favourite events in the last decade, you’ll already know how hard it was to keep going to the shops to put bets on, or to claim your winnings when events were finished. Those days are long gone now with more or less every bookmaker on the planet taking their business online, which means putting bets on events and withdrawing winnings straight to the player’s bank is now possible.
Every year bookmakers are coming up with new features to compete with their rivals, with many of them offering best odds guaranteed on events, and others offering special markets you don’t get with other bookmakers, but one of the features that a lot of online bookmakers have implemented into their sites is the famous “cash out” option. Below we’ll have a look at what it does and the positives & negatives it comes with.
What is the Cash Out Option?
The cash out option is for punters who have put bets on certain events, which allows players to cash out their money depending on how their bet is going. For example, some punters will choose to stake £10 on Chelsea to beat Liverpool at odds of 1/1, and if Chelsea are 1-0 up on the 70th minute, they will be able to cash out their bet for a total return of around £16. If Chelsea end up winning the game 1-0, then punters will of course lose out on an extra £4, but they would have still gained £6 on their £10 bet, meaning it would have benefitted them more if they chose to see out the game. But of course, there is a chance that Liverpool could have scored a goal to finish the game in a 1-1 draw, which would have meant the punter losing their stake altogether, so there are benefits to the cash out option for sure.
The positives of the cash out option will of course depend on your bet and the end result. If you profit from a cash out where you would have lost your whole bet if you didn’t cash out, then you will have benefited from the cash out feature, but if you cashed out early and your bet would have won, then you wouldn’t have benefitted as much.
There are a couple of other negatives to using the cash out option other than the opposites of the positives, and you will find there are a lot of punters that avoid the cash out option altogether. One of the negatives of using the cash out feature is that you don’t really get the profit you should be getting, whether you are taking advantage of free bets or not, as bookmakers will still take their cut from the cash out to earn a profit. Not only that, but using the cash out feature can sometimes take 5-10 seconds during live events, which can cause players to lose out if trying to cash out during pivotal points of the event.
While the only positives of the cash out option depend on what the outcome is of certain events, it is a great feature for those looking to cash out and recoup some of their initial stake as well, so it is a great feature in that respect. However, a lot of punters do not use the cash out option and instead, when they stake an amount on a particular event, they stick to it until it is finished, which was the old fashioned way of betting when there was no such thing as the cash out feature. Whether the cash out option is truly beneficial to a punter’s game remains to be seen, but the fact is, if all bookmakers are implementing the cash out feature into their sites, then there are obviously benefits for them too.