It is undeniable that sportsbooks, especially the ones that operate online, are constantly evolving. The past years have seen the introduction of various features that have significantly improved sports betting one way or another, and early cash out, also known as cash in, is one such feature.
Essentially, early cash out gives you the opportunity to close a bet before it has officially settled. The odds for the cash out are not the initial ones you had wagered on, but instead, the odds at the time of the cash in offer. This makes early cash out very situational, and you should always be careful with how you use it. In some cases, it can aid you greatly and help preserve your bankroll. In others, however, it is better to forgo this offer. Knowing when to accept it is the key to making the most out of cashing in early.
How Early Cash Out WorksIn addition, NHL punters should always make sure to read the terms and conditions of this feature very carefully before they place a bet. The rules and specifics will typically vary from sportsbook to sportsbook, and it is best to avoid surprises when your bankroll is involved.
How Early Cash Out Works
Cash out is very simple in concept. Let us say you placed a $50 moneyline wager on the New York Rangers on what was then an upcoming game, and you are now watching said match live. So far, everything is going well for you, and with 20 minutes left, the sportsbook offers you the option to cash in a payout based on the latest odds. You are now faced with the choice to either accept this offer or decline.
If you choose the latter, the bet will proceed as normal, and in the end, you will either lose your stake or win it back along with a profit. If you accept, however, you will be paid out according to the available odds, and the rest of the game will not affect you. This is what we call full cash out. Partial cash out is another version you could come across, and it is a unique option that allows punters to receive only a portion of their wager, leaving the rest of the bet at stake.
Apart from accepting an offer manually, some sportsbooks will also provide you with the ability to set up auto cash out. This is an option for those who will not be able to monitor the game while it is underway and will, thus, be unable to accept any cash out offers if they were to appear. Essentially, auto cash out allows you to pick your desired level of winnings or losses, and when this threshold is reached, the bet will be cashed out automatically. Furthermore, this feature is not restricted to cashing out fully. If you would rather go for partial cash out at a certain point, this will also be possible depending on the bookie.
The Pros and Cons of Early Cash Out
Cash out is a bit of a controversial topic within sports betting circles. According to some, cashing in certainly has its uses, while others are of the opinion that it is never worth it. The true answer is that, for the most part, it depends. Each punter is different and has distinct preferences regarding their approach to sports betting, so it is best for bettors to see how early cash out fits their own wagering habits based on this feature’s pros and cons.
Early Cash Out Advantages
- The NHL can be a volatile market to wager on. The game is fast-paced, and matchups often become neck and neck games between two teams that are relatively equal in terms of skill. Wagering on NHL events can, thus, be even more of a gamble for some punters. This leads us to the first advantages of early cash out. Basically, it can give NHL punters an extra degree of control over their bets, which can be great when a game starts taking a turn for the worse and one’s stake might be in danger.
- Individuals who are fond of making big parlay bets, in particular, can greatly benefit from early cash out. If you have a 10-leg parlay, for instance, and are offered to cash in once six selections have won, you can accept this offer and walk away with a significant amount of money.
- As for ordinary bets such as the moneyline and the puck line, these wagers can usually be cashed out when the game in question is underway. If you are winning, you could, again, accept a guaranteed profit as opposed to waiting until the end. If you are losing, a cash out might be useful in this scenario as well, since you could reduce the amount of money you will part with.
- Lastly, early cash out can have a very positive effect on how much a punter enjoys betting. If a bettor has been on a losing streak, for instance, cash out can provide this person with a guaranteed way to win at least some amount of money. This will make it easier for them to take a break and avoid chasing their losses.
Early Cash Out Disadvantages
- Although early cash out might sound overly generous, rest assured that there is, indeed, a catch. First of all, you need to keep in mind that you will pay your bookmaker the vig when you cash out your bet. This means that in the end, you will have paid the bookie for both your first bet and for cashing in as well.
- Next, remember that if you accept cash out, you will not be paid according to the odds you had originally wagered on. Instead, the latest odds will be used to determine your payout, and they might have significantly decreased in value by the time cash out was offered.
- Additionally, you might find yourself in a situation where accepting an offer resulted in you missing out on some significant profits. Giving up on any additional potential funds you could have won can be very frustrating, and it is by far one of the worst aspects of cashing in early.
- Early cash out is not a good choice for punters looking to meet wagering requirements related to a promotion. Cashed out bets do not count towards the rollover of a bonus, and this will lead to you having to place additional money at stake to meet said requirements. On this topic, cashed in bets tend to be excluded from most traditional promotions and are limited to their own unique and fairly rare to come by bonuses.
- Finally, the availability of cash out is not reliable. You will not always be offered a cash out option, which can make it difficult to judge a bet. Furthermore, sportsbooks will remove some cash out offers very quickly, again promoting fast acceptance or rejection by the punter. This is why you should avoid placing bets only based on the possibility that cash out could be offered at some point.
Early Cash Out and Sharp Betting
Early cash out is, in general, not an appealing option for sharp punters in and of itself. Not only are the increased vigorish and reduced value a problem, but matched and arbitrage betting are guaranteed profit alternatives that, while more difficult to achieve, offer exceptional value. In addition, cashing out is basically incompatible with arbs or matched bets, as it will not only reduce the value of said wager, but leave the corresponding bets at the mercy of luck. Early cash in always leads to long-term losses overall, so professionals tend to avoid it. This very aversion to cash out, however, is precisely what gives it a proper use for sharp bettors.
Losing a good sportsbook account is a serious risk within the sharp wagering sphere, seeing as sportsbooks tend to be very strict once they discover that an account is owned by a professional. Blending in with ordinary recreational punters is, therefore, an absolute must for any sharp bettor, and this is where early cash out excels at. This feature is popular among fun-loving bettors because, even though it has less value, the added level of control and the fun factor make it very appealing.
From all of this, we can easily conclude that if a sharp punter makes a habit of accepting the occasional cash out offer, bookmakers will have good reason to believe that the bettor in question is an ordinary sportsbook user. So long as someone is good at balancing their sharp bets with their cash-out-friendly ones, this is an inexpensive and worthwhile investment for any sharp bettor.
When To Accept Early Cash Out
Picking between accepting or refusing cash out is very situational, and it will also depend on your own skills and judgment as a punter. Since most cash in opportunities are given during in-play, you will also need to be great at analyzing NHL matches and making educated guesses on how a game will pan out.
If you have a bet that is winning, but something during the game convinces you that your team’s opponents might turn the match around near the end, then this is a situation where accepting cash out is reasonable. If the opposite is true, however, then seeing your bet through will be the better option.
The situation is similar with parlays, although there, the size of the accumulator matters as well. If you are winning an acca with just two or three legs, it will usually be better to let the bet settle since the payout of the cash out is seldom worth losing the chance of a full win. If we are talking about a parlay with ten or more selections, however, and seven have already won, then cashing in will be the safer and less stress-inducing option.
Additionally, if you find yourself in a situation where you are basically certain that your chosen outcome will not happen, this can also warrant accepting the cash out if offered. It is better to count your losses than suffer losing your entire stake if you believe your chances of winning are either non-existent or very low.
Last but not least, your overall goals as a punter also play a big role. Those oriented towards consistent profits should avoid cash out on principle, although sharp punters will benefit from accepting the occasional offer in order to avoid being gubbed. Those not too worried about long-term profits, however, and who wish for less-stressful wagering sessions will often benefit from cash out.
Conclusion
Although it was offered at very few sportsbooks at first, cash out quickly gained popularity after it was created since bookmakers quickly realized just how much punters liked this new addition to the plethora of unique features already offered by online bookies.
Now, it is difficult to find a reputable sportsbook that does not offer cash out of some kind, at least when it comes to ordinary soft bookies, which recreational punters frequent. This is not to say that cash in is perfect. It does have some caveats, such as the increased vigorish, but it can also be very beneficial to risk-averse individuals and those who love to place parlays with numerous legs.