Online betting sites with cash out option | Find the best bookmaker with cash out
Leading operators for cashout options
The cash out option is now a sought after feature for many punters. There are a number of reasons for this which we will explain in the clearest way possible.
- How it works: first we will explain how exactly the cash out option works.
- Benefits: how does this option benefit both the punter and the bookmaker?
- Cash out options: Once the basics have been covered, OpenOdds will outline the list of the best cash options offered by online bookmakers in 2019.
Best Betting sites with cash out option
So what does ‘cash out’ actually mean?
The cash out option is another feature joining the live betting or in-play family. The idea is that cash out offers are made in real time, before the final result is decided. In other words, cash out allows punters to get their money back before the game has ended. This option is useful for both punters who foresee a loss or an unlikely moment in their favour because the amount of money you get back is determined at the time of cashing out.
Depending on the likelihood of your bet, you could get back less that your initial stake (better than losing it all) or you could end up with a profit on your original stake. In-play markets are usually volatile so the amount you can gain from the cash out option is difficult to predict, especially in the final stage of races or games, which is punters are most likely to use the cash out option. As the chances of winning becoming more or less obvious, fluctuations in the cash out option decrease and increase in response. In some cases the cash out option will be removed altogether.
Let’s explain how this works with a real example.
Imagine you have placed 3 bets of £10 each on three different football teams with odds of 1/1, 3/1 and 15/8. The potential to win is £230 if all your bets win. Imagine that with five minutes left in all three games, the result is the same: your teams are winning 1-0. You are offered at this point a cash out option worth £180. What are your options at this stage? Well, you could accept the cash out and walk away with a guaranteed £180 (even if your team concedes an equalising goal). You could also reject the cash out option, but what happens then? Well, if the score remains the same across the board, you will walk away with the maximum win of £230, but of course if this is not the case and your teams lose or concede an equalising goal, your winnings will be significantly smaller altogether. The cash out option, simply put, is like “walking away” with the money on “Who Wants to be a Millionaire?”.
So why do online betting websites offer the cash out option?
It does seem strange that some bookmakers would give punters the best opportunity to minimise their losses. One might ask how they profit from this. The main reason for the introduction of this option is simple: the punters love it. Not only does it give them a bit more security when placing bets, but it also adds that bit of extra excitement to betting process. With the popularity of live and in-play betting, the cash out option is simply yet another advancement in innovative betting techniques. Online betting sites that choose not to offer the cash out option may wish to rethink this in future.
The cash out option has caused some controversy in betting circles, however, with those who like securing their bets without the annoyance of late goals messing up their progress. While those against the cash out option argue that the notion of a ‘value bet’ is lost.
List of betting sites that offer the cash out option in 2020: Top 5
This bookmaker offers a cash out option, and they were the first online bookmakers to offer this service. The cash out option is offered with both single and multi bets on a good range of sporting events, including tennis. The bookmaker have recently joined the ranks of operators offering the partial cash out option. Punters can also utilise the cash out option from the Betfair app. Just look out for the orange symbol.
Read our in depth Open Odds review for Betfair here.
What this bookmakers lacks in terms of variety on which cash out option can be used on which markets, they make up for in their cash out customer service. Their FAQ page related to the cash out option is comprehensive and answers questions for almost every situation.
You can read the Open Odds review for William Hill here.
This bookmaker is working hard to catch up with the frontrunners of the cash out option by offering their service in their most popular football and tennis markets. They have also focused their attention on providing a slick ‘Quick Cash out’’ widget from their iOS app. They have promised to add more markets to the cash out option which will put this bookie up there with the best. Look out for the little coin icon for markets included in their cashout service.
Read Open Odds in depth review of BetVictor here.
A newcomer to the cash out scene, Ladbrokes launched their full cash out service in 2015 after a successful trial period. The bookies have also provided a very comprehensive guide on how to use their cash out option. Rather than searching for games where the cashout option is available yourself, the presence of the large cash out button at the bottom of your betting slip is indicative of whether or not that market is included. Due to its relatively new arrival, Ladbrokes still has to work to grow their cash out market options.
To find out Open Odds overall opinion of Ladbrokes as an online bookmaker, read our thorough Ladbrokes review here.