The cash-out feature allows bettors to end their bets and claim some money even though the events in the bets have not been completed.
Bookmakers often offer punters the chance to cash out their bets at different points before the conclusion of the event.
The amount of money offered may be greater or less than the initial stake, depending on how close to or how far you are from winning the bet.
Obviously, you will get a lot more money if you are very close to winning your bets, and a lot less if the bet is losing.
The Cash Out feature allows you to take control of your bets, as you can end the bet at any point and either make some profit or minimize your losses.
So how does Cash Out work? Allow us to explain:
Let’s assume you place a N10,000 stake on Manchester United to beat Arsenal at odds of 4.0. The potential winning, in this case, is N40,000.
If Manchester United are leading 3-1 with about 10 minutes left to play, a bookmaker may offer you a cash out amount worth as much as N30,000 because you are very close to winning the bet.
However, if Arsenal are leading 3-1 with 20 minutes to go, the cash-out amount will be significantly less. It will most likely be below your stake because you are so far from winning the bet.
You can opt to end the bet and take your money or wait till the end of the match to see the final outcome. If Manchester United win, you will get your N40,000, but if they don't, you'll get nothing.
Note that the cash-out feature is not always on available for every bet.