What is a Cashout?
Cashout is an early withdrawal of funds from a bet before the end of a sporting event with a loss or profit.
The service “cashout” appears exactly at the moment when the player makes a sports bet on the site of the bookmaker’s office parimatch bet tz. Either in the coupon, or in the history of bets appears the option of early withdrawal of funds. The function may be called differently: bet redemption, early redemption, cashout, “cashout”, etc. The essence is simple – the player is offered to withdraw a certain amount of money before the end of the event.
Some bookmakers are ready to offer cashout only in pre-match mode (before the match), others keep the option in Live.
Why don’t the players like cashout?
Not a single bookmaker in the world will work at a loss. The statement is true for all types of promotions, bonuses or product innovations. It also applies to cashout.
The “cashout” service in bookmakers’ offices provides additional margin in addition to the margin of the main odds.
It turns out, if a player uses cashout, he pays double price for the service. Some bookmakers set a margin on “cashout” from 15% to 25%. It is quite reasonable players consider such offers too unprofitable, to use them.
However, there are opposite examples, when the margin of the bookmaker’s office for cashout is about 5-10%.
In addition to the extra margin there are mental reasons for players not to use cashout. Some reasoning is as follows: if I use cashout, it means that I made the wrong bet.
It’s harder to admit you were wrong than it is to get some money back in the bank.
When is a cashout really worthwhile?
And yet cashout can be very useful for a player. You have to know when and how to use it to turn the bookie’s margin into profit:
- Changes in the essential conditions of the match before the start. These can be weather conditions, the decision to hold the match without an audience, news about an injury to a leading player, news about a substitute referee, information about the postponement of the game, etc;
- Significant change in odds, when a cashout becomes profitable before the game even begins. Why risk money if you can get the winnings before the event (the situation is rare, but it happens);
- Liquidity of cashout. Sometimes there is information that can be used, but there is no money in the account. “Cashout” will help return some of the money already invested;
- If the betting during the game passes (one goal remains to be scored, for example), then the “cashout” can be made with a profit. The winning funds in the new amount can be bet again on the same match;
- To save at least part of the funds, if the game initially went not according to the planned scenario. Especially relevant if the betting amount was large.
Naturally, for all these “chips” the player pays an additional margin on cashout. But sometimes it is better to overpay a little to win in the end.