If you are a novice punter, you might have come across the term ‘cash out’ and wondered what it meant. Alternatively, you might have been gambling for a while but never understood what it means. Whatever the case, learning how cash out works in sports betting is vital. After all, it’s one of the features to watch out for when picking a sportsbook in Nigeria. For that reason, this guide tries to simplify the subject as much as possible.
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What Is Cash Out In Sports Betting?
Cash out refers to a feature in online sports betting where a punter can get back money on a wager before an event ends. By design, it is exclusive to in-play or live bets. Sportsbooks, therefore, provide cash-out offers in real-time. So, what is the point of it? Well, punters in Nigeria can ask to get their money back if, for example, a match is not turning out as expected. Usually, a site indicates the bets that are eligible for cash-out.
How Is It Calculated?
Consider this example when learning to calculate a cash-out bet. Say, your bet slip is $10 for three different football games on odds of 3/1, 15/8 and 1/1. So, the potential return, if all teams win, is $230. However, the sportsbook offers $190 with 10 minutes still on the game, and the teams are winning. Cashing out now means taking the $180. If a minute later, one of the teams concedes a goal, it won’t affect your payout.
Advantages and Disadvantages
Cash-out bets are based on judgement, so it helps to know a bit more.
Pros:
- Avoid losing money on a bad bet
- Better offers on stakes than the market value
- Avoid the stress of waiting for an event to end
Cons:
- Punters can miss out on large wins
In-Play Cash Out
Also called live betting cash-out, this feature allows punters to adjust their bets mid-event. Most bookmakers offer in-play cash-out wagers. When a match is going on, sometimes it might not turn out as you anticipated. For example, if your favourite is losing with 10 minutes to go, you can decide to cut your losses before the match ends.
Cash Out Features
Learn what cash-out options sportsbooks in Nigeria provide before you invest real money on bets.
Partial Cash Out
A punter gets a cash-out on half of a bet and keeps the other half running for the same event. It’s a suitable choice when you are unsure about how a bet will turn out. Consequently, you get to minimise risk without missing out entirely on a big win.
Auto Cash Out
The function allows you to set the cash-out amount, and when the bet attains that value, it triggers the cash-out feature automatically.
When To Cash Out
You have to make an informed judgement on the right time to use the cash-out feature. Typically, it’s when your ticket is losing. Here are some recommended strategies.
Keep Up With The Stats
In order to decide on cash-out’s value, stay up to date with the event statistics. You should know how to evaluate the performance of a game using the available data. Then you can calculate the risk of waiting or cashing out.
During Accumulator Bets
Cashing out on accumulator bets is one of the best ways to leverage the feature. For instance, you have a 100 NGN stake on a five-game selection. Before the last football match begins, the bookmaker offers 20,300 NGN on your bet slip. However, if the final bet were to win, with 70/1 odds, your ticket would pay 40,300 NGN. In this instance, it might be practical to take the 20,300 NGN on a 100-NGN bet rather than risk the full amount.
Make Use Of The Partial Cash Out
Punters can also take advantage of partial cash-out deals, which tend to offer the best of both sides. With this option, you get to retain interest on a bet without risking too much.
Nigerian Bookmakers That Offer The Cash Out Feature
A majority of betting sites in Nigeria have cash-out offers. Below are some top ones
BetKing
The platform has cash-out wagering for live bets. Punters can access cash-out odds in the My Bets section on the active bet slip. Coupon code is available to use before requesting the payout. Additionally, this operator allows offline (shops and outlets) cash-out wagering.
Bet9ja
At Bet9ja, customers can use the cash-out function on in-play and pre-match bets. For a pre-game wager, you have to request a payout before all the events of your bet slip are settled. Note that the operator does not permit cash-out wagering with bonus funds.
1xBet
The sports betting website has a cash-out feature for all markets. Customers can choose between the full and partial cash-out alternatives. Both single and multiple bets qualify. However, the operator doesn’t indicate the events that provide a cash-out function, until after you wager.
Sports Betting Verdict on Cash Out
Cash out revolutionised how punters bet completely. Besides the excitement of wagering on your favourite sports, online gambling is a chance to make money. However, it involves certain risks, and cash-out wagering is one way to minimise them. The flexibility of making back your money is a relief, especially when playing highly volatile odds. Consequently, Nigerian gamblers should learn how to leverage cash out bets fully for the best gambling experiences.
5 Step Guide On How To Cash Out
- Login in to your sportsbook account
- Then click on the cash-out icon on selected bets or in the ‘My Bets’ section
- Confirm the payout action
- The bookmaker deposits the money and sends a notification
- The bet is closed, and the final results of that event will not matter
