Complete and partial cash-out options have changed the way that customers bet online, argues Matthew Glazier of www.bookies.comThere was once a time when you logged into your bookmaker account and placed a pre-match bet on a football match.
A player would then go to the fridge, grab a beer and settle down to watch the full ninety minutes of play. There were no half-time markets, no In-Play betting and certainly no opportunities to cash out your bets.
Wind the clock forward: now, endless possibilities exist for betting on football, horse racing, tennis and many other sports.
In-Play wagering has become enormously popular. There is a direct correlation between the high number of people using smartphones and this increase in live betting, with operators reporting that up to 80% of turnover on a football or tennis match can be attributed to In-Play stakes.
The “I-want-it-now” culture is alive and kicking in modern society, with consumers demanding more choice than ever. The introduction of a “Cash-Out” option has changed the face of the betting landscape like never before.
For the uninitiated, “Cash-Out” gives you the opportunity to take the money and run on your bet. It also provides the chance to cut your losses on a bet that is not working out the way you had hoped.
For example, you might place £100 on Andy Murray to win Wimbledon at odds of 10/1. Murray then reaches the semi-final and his odds are reduced to 5/1 on the outright market.
If you’ve placed this bet with a bookie offering “Cash-Out,” then you might be given the chance to walk away with £150, which would mean a £50 profit.
Alternatively, you could stay in the bet as per normal, where there is often a third option: partial cash-out. Partial cash-out gives you the best of both worlds and is excellent for those customers who want to get their stake back while still leaving some money in the bet for a potentially big bonus!
Cash-out works particularly well if you go for a big football accumulator that includes matches taking place on the Saturday, Sunday and Monday.
If you’ve gone for something like an eight-fold and six or seven of your teams have won their games, there could be a very tasty cash-out offer tempting you out of the bet.However, you will naturally have to accept a lower amount than your potential winnings from staying in the wager.Betfair has based its whole TV advertising campaign around the possibility of cash-out, though many other operators have now developed the technology to provide this option to customers.
Consumers should bear in mind two things when deciding whether or not to cash-out. Firstly, the bookmaker is like the dealer on Deal or No Deal. So don’t expect any cash-out offers to be overly generous – there’s a margin built into these offers!
Secondly, think carefully before cashing out, especially if you have used your judgement to place a bet that you feel has a strong chance of winning. While cashing out does give you a chance to cut losses on a no-hoper of a bet,once you’ve pushed that button – you can’t go back!Bookies.com is a leading sports betting portal featuring tips, odds comparisons and cutting-edge features from an experienced team of writers. For more information, please contact Matthew Glazier.
