Cashing out your bets and cash out functionality is almost an essential part of any good sportsbook these days. It's actually a feature that has always existed in a way, as savvy punters have covered their bets with bets on alternative selections, but bookmakers have now made the process much easier for any punter to use.
Check out our analysis of cash out below, with some useful information on when goals are scored during Premier League games, that might change your mind about whether cash out is for you or not.
Cash out is the ability for you, as a punter, to take a return on your bet before it has finished. You can normally cash out your bet at most times during a game, whether it is winning or losing, however there are times where you might not be able to cash out your bet, for example in the last few seconds of a game when a bookmaker might not want to offer you the option of cashing out losing bets.
You can normally cash out your bets whether they are winning or losing.
Your bet does not have to be winning for you to cash out and retrieve some of your stake back. For example, you place a bet on Man Utd to beat Chelsea and 70 minutes have been played and the score is 0-0. The bookmaker would offer you a pay out in return for you to end your bet at 70 minutes. Invariably you would probably get less than your stake back in this scenario (unless for some reason there was a higher chance of Man Utd winning the game after 70 minutes than there was at the start of the match - for example, Chelsea may have had a player sent off).
Cashing out while your bets are not winning is a good way to cut your losses and at least retrieve some of your stake back if you do not think your bet has a good chance of winning.
Cashing out your bet while it is winning may seem like a strange thing to do, but you have always got to remember that things can change rapidly in football.
A large percentage of goals are actually scored between 80 minutes and full time. Check out our analysis of when goals are scored in the English Premier League this season. It is surprising that such a disproportionate number of goals are scored late in the game. However, when you think about it, the last 10 minutes of a game is invariably not 10 minutes because it contains injury time.
Given that relatively more goals are scored later in games than earlier, cashing out while you are winning is always something to think about.
Knowing when the most goals are scored is one key factor in deciding whether you will cash out your bets or not. Below we have listed the most common times during English Premier League football games this season when goals have been scored.
|England Premier League Goal Scored Times (Current Season)|
|Goal Time||Total Goals||% Of Total|
|0 to 9 minutes||39||6.50%|
|10 to 19 minutes||49||8.17%|
|20 to 29 minutes||48||8.00%|
|30 to 39 minutes||59||9.83%|
|40 to 49 minutes||75||12.50%|
|50 to 59 minutes||70||11.67%|
|60 to 69 minutes||72||12.00%|
|70 to 79 minutes||75||12.50%|
|80 to 90 minutes||113||18.83%|
Note: 9 of the 75 goals scored between 40 and 49 minutes occurred in 1st Half Injury Time (1.50% of total goals)
Note: 38 of the 113 goals scored between 80 and 90 minutes occurred in 2nd Half Injury Time (6.33% of total goals)
Cash out effectively gives you a quick and easy way of placing bets on all other selections in a given market to give you a guaranteed return. So, for example, if you have backed Man Utd to beat Chelsea then by cashing out the bookmaker is effectively calculating the bets required on Chelsea and Draw (or put a different way, the probability of the game ending in a Draw or Chelsea win) to give you an early pay out. Given that knowledge, there are probably better ways to cash out yourself in that you do not have to back every possible selection in a given market.
In the above example, if Man Utd were winning 1-0 at 70 minutes then you might cover other scenarios, such as the draw, but not back Chelsea at all. This method is more risky, but it would give you a higher return than cashing out. You could also weight your stake on the draw to mean that if the game ends a draw then you will break even, maintaining most of your winnings on the Man Utd win.
The Verdict? - Cash Out is definitely still a very useful feature, and when betting in play it may be the best option to use when you have to make quick decisions before odds, and the game change. Backing other selections in a market to reduce your risk as a game progresses is another method that can be used, but unlike cash back it does not instantly give you funds back into your account to bet with further in play.
Most sportsbooks have cash out, but bet365 have now introduced a great new feature called Edit Bet.
Edit Bet lets you add, swap or remove selections on unsettled straight accumulators both pre-match and In-Play. For unsettled single bets, you have the facility to swap or add selections.
Check out Edit Bet, it's a great innovation in our opinion and way ahead of most other sportsbook offerings out there.