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With the Cash Out option at online bookmakers, you can often recover much of the stake, so in the case of an unfavorable bet, you can recover much of the money. In recent years, more and more online bookmakers have begun to offer the cash out option, an option that often comes to the help of bettors wishing to secure a guaranteed win. But this choice often confuses them instead of helping them.

What is the Cash Out option?

The cashout option allows you to close a current bet, and when you use it guaranteed a portion of the eventual winnings or initial stake. This is why this option is also known as “closing bet”. The exact amount you receive depends on the real chances that your ticket has to win when you close your bet.

The cash out option can usually be used for both single and multiple bets, whether pre-match or live. However, there may be online bookmakers that offer this option only to certain types of bets. Also, the option is not offered at all matches, but again it matters to which bookie you are playing. For example, there are some bookmakers that offer the possibility to close a bet only on football matches or others that do not offer this possibility at certain smaller matches.

Example of situations when you can use cash out

Example 1: You placed a single bet of € 100 a few hours before a match starts, but 5 minutes before the start whistle you find new information that makes you want to not put that bet. Due to the cash out feature you can close your bet and you can get back much of your initial stake. In such a situation, most agencies return 95% of their bets, so 95 EUR.

Example 2: You placed a single pre-match bet that the outsider will win or will make it equal. Your team resists well and in the 70th minute it is 0: 0. But you notice that this has begun to get tired and your opponent is increasingly dominating the game, so you decide it’s best to close your bet before the favorites open the score. You will not win as much as when you leave your bet all the way, but you certainly take a sum of money no matter what happens later on the field.

Example 3: You placed a multiple bet consisting of seven selections. The first 6 matches on the bet are winning so you depend on the last match. If the last match wins, you get a nice amount of money, but if it does not then you do not win any more and the first 6 correct selections on the bet you got were in vain. That’s why you decide to close your bet, so you’re guaranteed a consistent amount of money.

Be careful when you use the bet closing option

It’s good to just play at online bookmakers that offer the cash out option because you can not know when you need it. Even so, you must be careful not to use it excessively, but only when you need it. There are few who use this option to almost any bet just to be sure they take something from their bet, and finally to find out that it was much better if they left some bets open to the end. Using cash out too often is a damaging strategy and you should think well before using it whether it’s worth it or not. Sometimes it’s worth it, but sometimes it is not.

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