The great technological advances have now allowed for several years to bet in live mode, no longer limited to pre-match bets (and to also consider cash out bets as we will see later). This way not only the betting sites have significantly increased their turnover, but have also given a further option to their customers who can decide to bet while the event is in progress, so as to be able to form their own well-defined idea of what is the trend of the match.
Many of the top betting sites today also offer the opportunity to follow live streaming of matches, thereby increasing the appeal and charm of their offerings. A relatively new feature in the Canadian betting world is cash out betting, which could be translated as "collecting".
This is an innovative and certainly much appreciated function by players, who can use it to their advantage. This option essentially allows you to close a bet before the end of a game or other sporting event. The aim is to optimize winnings or limit losses.
If this function is already widely used abroad for years, the credit for its arrival in Canada is due to Betfair, which launched cash out in our country in 2014. In 2017, Betflag and Betpoint then joined, followed by bwin. Today, there are only four bookmakers offering Canadian users cash out.
Betfair is not only the father of exchange betting in Canada, but also the bookmaker who introduced cash out in our country. Cash out is only available in live mode and on single games. In addition, you will have the opportunity not only to make a total cash out, but also a partial one.
Please note that sometimes cash out may not be available on low liquidity markets.
On Betflag, the cash out function is called Moneyback. Essentially, it is the classic cash out. The option can only be used in exchange betting.
The Moneyback icon comes in three colors:
bwin is another well-known operator in Canada that has added itself to the list of bookmakers offering cash out. Unlike all the others, however, this function can be used on regular markets, as the Austrian company does not have an exchange betting platform.
The big advantage of bwin compared to competitors is the ability to cash out even for multiple bets. However, sometimes the option to cash out bets may not be available for all events and markets.
Betpoint also joins the list of bookmakers with cash out. This feature is called Moneyback and works in the same way as Betflag, only being available with exchange betting.
As you have seen, there are very few bookmakers currently offering cash out. However, this feature has also been mentioned in the draft of the new State Monopolies Decree, so it is likely that in the near future, an increasing number of betting sites will make cash out betting possible.
Now, let's try to give an example of cash out to explain its operation in the clearest and simplest way possible. Let's imagine we placed a bet on X during Inter-Juventus. At the 75th minute, the game is still 0-0 and therefore, the live odd for a draw will be significantly lower than the pre-match or early-game odd. In case we don't want to wait until the end of the game and receive the winnings immediately, we could choose to use the cash out function.
In this case we will be sure of our win, which obviously will be of a lower amount compared to if we had waited for the final triple whistle. However, by waiting until the end of the game, we would have exposed ourselves to the risk of a change in the result and therefore losing our entire bet and potential winnings.
The reasoning also applies in case our initial forecast is not respected or only partially fulfilled. Let's take, for example, a Serie A match between Milan and Rome on which we bet on Under 2.5. At the 60th minute, however, the game is tied at 1-1 and therefore only one more goal would make our bet a losing one. If we fear that the third goal is coming, we could resort to cash out, thus deciding to close our bet at a loss since the quote for Under 2.5 would be much higher than the one we placed our bet on. This way we will limit the losses and avoid losing the entire stake.
As you may have understood from these two examples, it is worth closing a bet through cash out when the result or outcome we predicted drops in odds, while in the opposite case we will record a loss.
Partial and automatic cash out
Depending on the bookmaker you bet with, it is possible to do not only a full cash out, but also partial cash out of the placed bet. On a 10 euro bet, you could cash out only 5 euro, keeping the remaining 5 euro valid until the end of the game.
At the same time, there is also the possibility of setting up an automatic cash out. If the closing value reaches or exceeds the set parameter, the bet will be automatically closed and the funds will be added to the account.
Advantages and disadvantages of cash out
The undeniable advantage is to safeguard bets in case the course of the match is going as expected without having to wait for the end of the event. The same can be said, however, even in the contrary case, since through cash out, losses can be limited significantly. In addition, cash out undoubtedly makes betting more enjoyable and entertaining, as users can become the real architects of their fortunes, choosing the right moment to close the bet and collect the potential winnings.
The reluctant point is related to the amount of winnings. By closing the bet, you will not obviously win the amount that you would obtain at the end of the match, otherwise everyone would always opt for the cash out. Inevitably, you are at the mercy of events, which can change not only the course of the match but also the odds in a drastic way. One aspect to specify is that cash out is never usable in clear goal scoring opportunities, such as a penalty kick, a free kick from the edge of the area, and so on, because bookmakers block the markets waiting for the dangerous action to end.
Cash out manual
If it is true that the number of betting sites that offer cash out is very limited in Canada, it is equally true that cash out can be applied to any bookmaker. Even on those that do not propose the cash out, in fact, it is possible to protect your bets.
The operation is not as immediate as cashing out, but it's not too complicated. Let's imagine we betted on Canada's victory in the match against New Zealand. At minute 30, the result is 2-0 for Canada and we could decide to secure our win by betting on X2, in order to cover ourselves in case the game takes an unexpected turn.
For example, if we bet 10 euros on "1" when Canada's success was quoted at 1.50, it is now plausible that the "X2" quota may be around 13.00. We could then play a small amount on "X2" to ensure a win regardless of the final outcome of the game. The only difference compared to cashing out is that in this case we would need to have an amount in our game account that allows us to cover ourselves, but the sense of the play remains the same as the cash out. Obviously, this example also applies if we want to limit losses.
Cash out is a function provided by bookmakers that allows you to close a bet early. The purpose of cash out is to secure the user's winnings or limit losses. In the case of a win, the amount will be lower than what would be obtained if you waited until the end of the match, while if the outcome of the event is not as desired, losses will be limited, avoiding losing the entire bet.
Unfortunately not. The number of betting sites that allow cash out is really limited. At the moment, there are only four bookmakers on which it is possible to cash out, three of which use exchange betting to offer it.
Cash out is applicable to all sports, even those more niche. However, it is more likely that the option will be available for football, tennis, basketball, and other popular sports. In any case, the choice depends solely on the bookmakers, who announce in advance on which events cash out can be done.
Although the vast majority of opportunities for cashing out are related to live events, recently it is also possible to use this function for pre-match bets, thus increasing even more the options for users.
Giving an answer to this question is very subjective. Every player has their own way of betting, which may or may not be well-suited for cashing out. In theory, securing a win is always positive and therefore cashing out can be a valuable aid for bettors. However, on the other hand, cashed-out winnings will always be lower than those eventually obtained at the end of the game.
No, cash out does not require any payment from users and is a feature that can only be activated on already placed bets.
Yes, some bookmakers allow cash out on multiple bets as well. In most cases, however, the function can only be used on single bets.
Yes, even on bookmakers that do not offer cash out, it is possible to apply a somewhat rudimentary alternative that has the same functionality. Essentially, it involves betting on the opposite outcome to the one initially placed. This way, it is possible to hedge regardless of the final outcome of the event.