Cash-out is a relatively new option provided by the leading bookmaker sites, thanks to which you are able to freeze your active bets. You will find different versions of the option’s name: ‘Cash-Out’, ‘Close bet’, ‘Stop Loss’ and many others. However, their purpose is the same – to limit your losses by allowing you to take back your bets and take the amount offered by the bookmaker.
Why should you stop your bets with Cash-out?
There are two main reasons for using Cash-Out:
1. The matches are developing in a wrong direction – in this case stopping your bet will limit your losses. When you see that the matches are not developing in the most successful way, you have a chance to stop your bets and to take back some amount, which is better than losing everything. This is the first reason why you should use Cash-out. This will save you a significant amount of money, and you will be able to control your bets more effectively.
2. When your matches are guessed right, and you are anticipating only one game – You know the situation in which you have guessed all the matches, and you are only one game away from the big profit. In such cases, it often happens that exactly the last match turns out to be the reason for your failure. You lose your stakes, and you miss the chance to take a solid amount of money. Here comes the Cash-out option and we strongly advise you to use it in most cases.
When you stop your bet, you will take an amount which is slightly lower than the initial ultimate amount (the one you would have earned if you had not stopped the bet). However, you will have a decent profit, and you will not tremble in anticipation of the final game that might turn out to be a success but a disaster as well. However, you are the one to decide what to do in such cases, but our opinion is that you must take advantage of this option and close your bet.
In what sports bets can you use the stop loss option?
Usually, in different betting sites, there is a Cash-out option for most of the sports and matches that are broadcasted live. However, everything depends on which site you have registered on and bet through. Sports such as football, basketball, tennis, volleyball almost always come with the option to close the bet. Still, you should know that the Cash-out option is available mostly for top leagues, and therefore it is not unusual to see second/third division championship matches without the ‘Cash-out’ button.
Are there any drawbacks in closing the bet?
The good news is that the advantages outweigh the disadvantages, but there are negative sides to closing the bets, which we have to mention. In most cases, these are the amounts offered by bookmakers (which are less than the value you might be able to win), especially when your bets are close to failure.
Another negative is the time interval when the odds are updating (the delay of the cash-out button). In this case, this refers to matches that are broadcasted live; their odds vary in huge ranges. This is due to the dynamics and development of the game, and here, respectively, to the proposed amounts for Cash-out. Many of the bookmakers stop the opportunity to press the cash-out button for a second or two just at the same time while you have decided that it is the right moment to approach it. This can often frustrate the players and make them place incorrect or unwise bets.
Which bookmakers offer the ‘Close bet’ option?
There are numerous bookmakers in Great Britain, which have a license and offer an excellent option for closing a bet. It is a matter of taste and personal preference to decide which bookmaker you will play with and where you would like to use this option.
A list of the bookmakers which offer the Cash-out option:
- Bet365 – They use a pretty good author’s Cash-out option, which is super dynamic and available for almost all sports and matches. A negative side – It might be not available for seconds when the odds are being updated. Read our expert opinion about the Cash-out option of Bet365.
- Betfair – The option is present in the ‘Exchange’ section, as well as in the ‘Sport’ section. This is maybe one of the best cash-out options, which was implemented for the first time precisely by Betfair. Learn more about the Cash-out option of Betfair, including the instruction for use.
- Efbet –They have incorporated the stop-loss option relatively recently. However, it is present in an increasing number of sports events. There are no delays or bugs, so it’s worth trying out. The bookmaker also maintains a cash-out option for combined matches.
- Sportingbet – One more good Cash-out option. In the site of Sportingbet, you can enjoy a well stylized and designed option that loads super dynamically and meanwhile it is updating the changes in the Cash-outs for you. Learn more about it in our publication on Stop loss from Sportingbet.
Are there any bonuses when using Cash-Out for the first time?
Some bookmakers offer a bonus or a return of the funds if you use the stop bet option for the first time. These are Betfair, sometimes Bet365 and, of course – Sportingbet, which places different offers when someone uses Cash-out for the first time.
Can I close bets with Cash-Out through my smartphone or tablet?
When the Cash-out option was introduced for the very first time, most of the leading bookmaker sites did not have the opportunity to integrate it on their apps and mobile versions. Over time, more and more players started preferring this option. That was why the bookmakers took a step further by integrating the Cash-out function both in the mobile versions of their sites, as well as in their mobile applications.
Still, you will find some bookmakers on the Internet which do not offer the cash-out option for mobile devices; however, this does not mean that these bookmakers are not reliable. When it comes to online betting, it is all about personal preference.
If you have any questions or difficulty using Cash-out, do not hesitate to contact the Efirbet.com team: firstname.lastname@example.org.