Cash out betting guide - How to cash out at LeoVegas
A handful of variables have elevated online sports betting, and cash out is one of the most popular features available for punters. The technology that underpins the cash out option uses some of the most complex and sophisticated software that’s available in the gaming world. It also gives you more flexibility if you’re looking to cash out in the middle of a game, especially if you think you’re getting value at that stage live and in play betting.
Cash out betting explained
Cashing out of your bet is a relatively simple concept, and it is overwhelmingly used if you bet on a live event. You may also hear it referred to as a buy-out. Although there are dozens of live markets you can bet on and then monitor in real-time, cash out betting is heavily associated with sports betting and the markets that run alongside it.
Instead of placing a pre-match bet and waiting until it’s over to receive your total payout, you can receive some partial cash if you want to avoid a potential loss. This can save you time and the added headache of having to bite your nails and wait for your selection to come in at the end of the event.
How are cash outs calculated
Given the many sports markets before and during a game, many online gambling companies use algorithms to implement live odds alongside your bet.
Knowing the answer to how cash outs are calculated is crucial to using them effectively in your gambling strategy. Basically, the bookmaker will recalculate the value of the bet using the new odds available at the moment of cash out.
While they can be used to benefit you and can result in you getting a return on a selection that may not otherwise have come in, they do not enhance or decrease your likelihood of winning. Remember that gambling should never be seen as a source of income.
LeoVegas cash out guide
Once your cash out is calculated, so long as you are happy with the amount, you simply select the cash-out button, and your money will be withdrawn, and the bet settled instantly. The dilemma lies for many people on whether the bet will have come in. Those who cash out before the bet loses rejoice at their masterful move.
If you cut your losses for minimal cashout and the bet succeeds, the pendulum swings the other way. However, a cash out bet provides another avenue that is a real advantage.
Cash out bet example
Let’s say, for example, you bet on a football team, and the odds are 2/1, and you bet €100 on them to win; your potential payout if the bet wins is €300, including your initial €100 stake. If the team you have bet on then takes a 2-0 lead and is sitting comfortably up at halftime, your cash out value might be around the €200 mark. This could be enhanced by other in-game incidents, such as the other team having a player sent off or the goalkeeper going off injured.
This will also be reflected in the live game odds, which will have likely gone down to odds on favourites of maybe 6 or 7/1. This is just one example in one sport, but this should give you a good idea of how a cash-out bet works.
When to cash out
There’s no guaranteed way of cashing out to ensure your bet always comes out in profit. When betting on sports, especially team sports, there are so many factors at play and so many plates spinning at once that it is almost impossible to make accurate cash-out calls continuously.
Let’s use the example from the previous section with the exact figures. However, even though the team you have bet on is 2-0 up, let’s say they have been on the backfoot all game; the other team has dominated and done everything but score, and they still have strong attacking players that they can bring off the bench.
In this instance, the cash-out option might be a much better alternative than allowing the bet to ride out to completion; if the other team makes it 2-1, your cash out will be considerably lower, and if they equalize, not only does it go lower again but you will also lose your total amount if it stays that score until the end of the 90 minutes.
When not to cash out
One example of not cashing out might be if you have placed an in-game bet on a team, and they’re winning 3-0 at halftime, and the other team has had a man sent off. Your cash out might be at €250, but for an extra €50, evaluating the risk and reward suggests that seeing this bet out to completion is probably the wiser move. This is perhaps the more straightforward version of cash out betting explained.
FAQs
Q. Is cashing out beneficial the player?
A. Cashing out has become a good way of cutting losses for players. Now that players can cash out of their bet and have multiple in-play options, they are more in control of the outcome of their winning selection. It can be beneficial to cash out so you don’t have to worry about the game's final section, but it depends on what your bet involves.
Q. Does cashing out work the same across all sports?
A. Yes, although markets will have different odds and different variables that drive the profit, the general calculations remain the same, and it uses the best algorithms and computer coding to determine the most up-to-date odds.
Q. Can you cash out on all devices at LeoVegas?
A. Whether if you gamble on your mobile device or the website using your PC or laptop, you can access the same cash out feature.
Q. Does cashing out guarantee a return or a better chance of winning?
A. No, any bet you undertake is driven by luck; regardless of how much research you do beforehand, you can still lose your money. While cashing out can help mitigate this risk, it is not any sort of strategy that will help you profit from gambling markets.