Bookies With Cash Out & When to Use It
Cash out is a feature which the majority of the big bookmakers now offer to punters. The ability to control how long you want your bet to run for and that you can lock in profits has made it very popular.
On this page we’re going to show you a list of the best bookies with cash out available and also take a detailed look at the strategy behind when you should and shouldn’t cash out your bets.
For those of you who are new to the feature, let’s quickly run through how it works.
How Does Cash Out Work?
Cash out works by allowing you to close bets off before the end of the actual event you are betting on. It allows you to cash out before the bet has finished to either guarantee a profit or to limit a loss.
Most bookies also allow you to partially cash out your bet. This means that you can take some of the money on offer, whilst leaving the rest of your bet running. Not all bookies offer this feature though but below is a list of those that do.
Best Bookies With Cash Out Facilities
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When Should You Use Cash Out?
This is something that gets asked a lot.
Here at Acca Nation we’ve got a few rules that we tend to follow when it comes to cashing out bets and whilst they might not be most scientific, they should help you get a better idea of what strategy to adopt.
1. Never consider less than 50% of total winnings
We spend hours researching our tips every day and coming up with 3 to 5 picks is time-consuming.
All selections are in there for a reason and we have a sweet spot for odds of around 20.00 to 30.00. This is the price of the majority of our bets. When bets start to do well, lots of people email asking if they should cash out.
It could be that they have a £10 bet at odds of 20.00 and they cash out at £70 when results are going strong but if that’s the situation why would you cash out?
It’s at this point that the bookmaker knows you are doing well, so they are dangling the carrot for a bet they think has a great chance of coming in. Why would you place a bet that returns £200 at the start of the day only to cash out for £100 or even less?
In our opinon this is one of the biggest mistakes that people make with cashing out and whilst we have stated the 50% mark as the line, we actually mean people cashing out too soon.
2. Asses each game and the price on offer
You need to be looking at what’s happening in each game of your acca to know if a price is good value or not. Each game is usually very different, and this means that the cash out value might solely be based on a single game from your picks.
For example, let’s say you’ve got a 5-fold on the go and you are up in all 5 games with 15 minutes left. There is £200 up top if it wins and the bookmaker is saying that you can cash out early for £160, some £40 less than the prize up top.
Initially, you would have to say that you’d be crazy to take this offer and we would agree. But, let’s say that two of these games were up by scores of 1-0 and one team had a 2-0 lead, but just had a player sent off.
We know that just 1 goal in either of these three games is going to send our cash out price crashing and could end the bet altogether. We are far from safe here and when you take each game into account as an individual bet, you could argue that it’s better to take the money, rather than risking £160 for an extra £40.
We’ve clearly made this scenario up for the sake of this example, but it’s a pretty common scenario and one that we have used to cash out many times. There will be situations where, even though it’s probably not the best decision in terms of value, that taking the money on the table based on the current scores or results from your picks, is the right thing to do.
3. Think subjectively about your bet
One of the reasons why so many bookmakers have been keen to implement the cash out feature is because they make a lot of money from it. we’ll talk more on this later in the article, but you need to be aware of how this works.
For now, it’s important to note why a bookmaker may be offering you the cash out price that they are. You then need to work out if this is a good price or not.
More often than not, if you feel it’s a good price then the bookies are looking to lure you out of the bet quickly as they think it will come in. If it’s a poor price, they see it as a losing bet in the long run for them.
This means that you need to be able to strike some sort of balance based on the price that they are offering and if that offers good value or not. Given that you are betting in-play here, you need to be decisive with this and be able to work out what the current odds for each game is at the time of your cash out.
4. Overall sum of money on offer
Most pro bettors will look at the numbers from a percentage point of view and the actual sum of money is almost irrelevant. The recreational punter almost always looks at the sum of money that is on the line via the cash out.
If you asked us 3 years ago about what the best route is to take here, we would almost always say to look at the amount as a number, and not necessarily monetary value. But this doesn’t need to always be the case.
By this, we mean that if the sum of money that is being offered is going to be significant to your life, then take the money, even if it’s not a great deal.
This could be when you’ve got a bet on an accumulator bet with £1,000 up top and the bookmaker is offering you £300 cash out at half time with results going great so far. If £300 is enough to pay your bills, cover a holiday or treat yourself and you’re happy with that amount, then take the money.
Sure, you can hang on for the big prize and this is contradicting rule one some extent, but what we’re trying to get across here is that everyone’s situation is different.
The maths, as you are about to find out, is never going to be in the punter’s favour, so if you can get in and out, for a sum that you’re happy with, then be our guest.
5. Does cash out betting offer good value or not?
When you see bookmakers almost falling over themselves to offer a certain feature or betting market, as a seasoned punters alarm bells should start to ring. Bookies generally don’t just include these things to help punters out, they want to make money and make money they will.
If you aren’t already aware, bookmakers create what is known as an overround, which is basically the money that they make from each market. The amount ranges depending on the bookmaker and the bet.
As soon as you place a bet you are contributing to that overround. What many people aren’t aware of is that the overround is also applied to your cash out price as well. The odds don’t even need to change for you to see this.
In the screenshot you can see an acca and the cash out price. The bet hasn’t even started yet, but BetVictor are saying that we can cash in the bet now for the cost of 50p or 5% of the initial £10 stake.
This margin remains pretty consistent as the bet goes in-play. This means that instead of the getting the true cash out figure based on the current odds, we’re instead paying another margin to the bookmaker to get slightly less than we should be, meaning they make money again from your cash out.
Some argue that cashing out your bets is bad long term and we would have to agree, for the most part. But we disagree that there are never times where you can factor in the human element of betting to oppose the straight maths.
Knowing that cash out is going to be -EV in the long term is key. But don’t worry about using it sporadically in situations that warrant it.
