The spots betting industry keeps evolving and new and exciting products are always being added to make the industry grow even bigger. Technological innovations is one significant factor which has proven to be the driving force behind the growth of sports betting. There have been several innovations over the years including In-play betting, Smartphone betting Apps, Virtual Reality and several others. One of the most popular innovations is the Cash Out feature, which is being used by punters in order to avoid missing on the big amount, and a feature offered by more and more South African betting sites.
Cash Out was made popular in 2016 when Leicester City surprised the world by winning the Premier League against all odds. When it became obvious that Leicester City were going to win the league, bookmakers began offering Cash Out to punters who had placed outright bets for Leicester City to win the league, the reason why the bookmakers did this was because they wanted to cut their losses as the amounts to be won were huge and most punters indeed cashed out because they also did not want to risk losing everything.
What exactly is Cash Out?
Cash Out is a betting option which allows a punter to take an early payout on their wagers before they are settled, what this basically means is that you can either take a profit or get a portion of your stake back, what you get when you Cash Out depends on how your selection is doing at the time that is, if you are winning at the time, you will get a profit, if you are losing, you will obviously get a portion of your stake back.
The Cash Out feature is available on both single bets and accumulators, it is important however to note that Cash Out does not apply to all types of wagers and this depends with the bookmaker so you must always check with your bookmaker first. The good thing about Cash Out is that it is available for several sports including football, tennis, basketball, cricket, baseball, horse racing and several other sports.
Where can Cash Out be useful?
If you have mistakenly placed a bet and you want to cancel your wager?
If you suddenly have doubts about the team you backed.
When to Cash Out Early?
It is wise to Cash Out if the team or player you are backing is in a winning position, but is being outplayed by the opposition, the main reason for cashing out at this stage is you must secure a decent profit rather than losing both your potential profit and the stake in the event that your bet loses.
It is wise to Cash Out if your selection is looking highly likely to lose, by cashing out, you will at least get a part of your stake back.