Betting with cashout
- Updated: 24th September 2019
What a topic I bring you here today: betting with cashout. I’d say that this is definitely one of the most commonly used methods by bettors these days. But, now that I think about it, is it really a method? Is it that advantageous?
Betting with cashout: We will start off by explaining the history of cashout and how to bet with the cashout.
Firstly, we will understand the concept and how this betting method that a lot of bettors utilize was “born”.Cashout was one of the brightest ideas that the bookmakers could have come up with to offer their clients.
The first idea it gives is that we can minimize our losses or minimize our exposure regarding the bet we’ve made.
The cashout, according to legend, was created by Betfair on their Sportsbook component, before the exchange, and rapidly had a huge success, and of course all the European bookmakers asked them to utilize the amazing concept, paying for the idea/patent.
Many utilized this new betting method, with for example the famous British bookmaker Bet365 adapting it for their clients.
It was a case of success, because I would say that the cashout generated benefits for both the bookmakers and the bettors.
Now we will speak about what matters, the concept and what it is for!
Betting with cashout is a quicker way to close your bets, without “laying” your bet and without understanding a lot about arbitrage methods in the betting world. I’d say that with just one click, you are able to close your position/exposure to the bet you’ve made previously, with potential profit or on a potential loss.
As an example, we will bet on a “Over 2 Goals” line on the match between Rennes and Montpellier counting towards the French Ligue 1.
Rennes gets off to a good start and scores the 1-0 in the first 5 minutes, and 5 minutes later, Montpellier ties it at 1-1. I’d say that in normal conditions, the cashout option will already offer a good profit for us to close that bet with.
Basically, the opposite can also happen: Imagine we take the “Under 2.5 Goals” line on that same match. The 2 goals can be scored that quickly, and then we can minimize our losses and close our position with a smaller loss
Betting with cashout: But not everything is that positive!
Yes, it seems very easy, and I’d even say that at first it looks too simple, and if you’re reading this article, you might even think:
I’ve just found a good way to win consistently when betting on sports!
The bookmakers like 1xbet or Bet365 don’t offer “free lunches” to anybody, and pay attention, when the cashout appeared, there were some problems. I took advantage of that, on the famous Bet365, but adjustments were made very quickly.
The bookmaker doesn’t offer you anything for free and there are also some problems. Want to see?
Yes, it is true, not every match has the famous “cashout”, since only a few of them allow us to take advantage of this wonderful offer.
Besides that, there is also the famous “juice”.
The “juice” is what the bookmakers take for themselves, only because you want to place your bet with them. Let’s say they don’t give you the full value in case your thought process is correct and has happened within a couple of minutes.
The bookmakers take a chunk, I’d say quite a large one, of that “potential profit”.
Another problem that can come up is that, even if this specific match is available to bet with “cashout”, it can disappear, with the bookmaker “taking it off”. Yes, that’s true, the bookmaker has the right of making this option unavailable at any given moment.
My dear readers, it doesn’t sound that good now right?
I was right, wasn’t I? So, where you were already finding a good way to be profitable on sports betting, I’ve just killed your hopes of that idea and now you are disappointed but keep calm.
I’d say that not everything is bad, even in these situations that I’ve mentioned above, we might always gain some advantages, yes, not a lot, but a couple of them. You need to be attentive and keep an eye out for the opportunities.
Beware, not all bookmakers have the same method of acting on their cashout system. Some are more benevolent than others, and some are trickier than others. I’d say that everything depends on how the system of betting with “cashout” is implemented on the bookmaker itself.
I’d also say that the “cashout” system also keeps automatically adjusting itself, and the bookmakers are able to notice their
utilization, in a good or a bad way, by the bettors and rapidly adjust in order to obviously not lose any more money.
Another idea that I want to introduce here, that I saw happening last year, in 2017/2018, at the time of the state championships in Brazil, the question of betting with “cashout” was heavily utilized by bettors that placed bets on that specific competition.
The countless WhatsApp & Telegram groups were used to move the lines in the right direction.
Then, they would bet in a way, and gave the tip on the other direction, and right before the matches started, they closed their bet through “cashout”.
Another method was placing the bet, giving the tip to the highest number of bettors possible for that entrance, then wait for the odds to drop and perform the “cashout” long before the start of the matches.
Obviously, everyone was looking for a good way to take advantage of this new wonderful system of betting with “cashout”. But the bookmakers also monitor everything and know how we take advantage of their system.
The “cashout” issue has already brought a lot of fun stories, and a lot of stories that leave us with a smile on our face. A lot of tips’ salesmen also took advantage of this brand-new system, almost infallible, to gain an “edge” over their customers.
On paid tipster groups, many offer the “cashout” solution so that their clients always end up in profit, but there have been some sad stories, such as cases where the “cashout” button simply disappeared, it was insane!
Yes, it vanished.
The bettor wanted to close his bet, but the button to perform the cashout simply disappeared and the profit went down the drain. It was a tragedy, how can a button like that disappear from your screen from one moment to the other!
There have been a couple of funny situations that happened, but that only reinforce what I’ve written previously. The bookmakers have the right of taking this option off whenever they want to.
The “cashout” system went from being a solution to being a problem for the bettors, yes, it’s true. Who would take the risk of hoping for that option to be there, since it might not happen?
Many stepped away from this, in fact, back then, a lot of bettors were aware of this issue and reported that it wouldn’t be a very viable solution for the future. The more experienced bettors back then reported about this issue in specific, since the margin for the bettor to take advantage of a good “cashout” was too small.
The phenomenon spread and is even vulgar these days, and I would even say that a bookmaker without “cashout” shouldn’t even be considered as one, since it’s just like going to Rome and not seeing the Pope.
This option started being even more important with the withdrawals through e-wallets or due to the fee the bookmakers take on deposits and withdrawals from the bookmakers.
Even knowing that it is not the ideal process to bet with at all, it is a method that is very satisfactory for many. Those who start in this world like it and pick up on it easily, until they start doing the math and figuring out that they can’t always count with the “cashout”.
Hated by many and considered advantageous by others, this is just another way of being aware of the opportunity offered by the bookmaker.
Beware that the “cashout” system, sometimes, for the more cautious ones, makes mistakes, and a lot of people take advantage of that. But
I’d say that even this betting method is “better” and of course benefiting the bookmakers and not the bettors.
As a conclusion, and stating my opinion here, it is nothing but an offer from the bookmakers, and I’d say that what we get from the option of betting with “cashout” is very little or very limited.
Yes, in certain cases it might be a good “way to win” or a good way of “losing less” or being less exposed to the market.
At this current volatile period, we are on in terms of sports betting, where the bookmakers are gaining more and more “edge” over us, I’d say that it is always nice to have another tool at our disposal.
Taking advantage of mistakes or poor analysis from the bookmakers’ traders, who also make them, is something we have to keep an eye out for.
I’m sorry for calling “cashout” a method during this entire article, but now I’ll start calling it a tool, nothing more than that.
But all of this had a purpose, so that I could present my thought process better and now, at the end, present you the pure reality – tool!
You can leave your opinion down below and on our InsideBet social media!
That’s all for today, good “cashouts” and merry betting, and of course, good luck!