Cash Out Feature
The cash out function has been the next big thing in the Australian betting landscape and has been adopted by multiple betting agencies. Luxbet, Sportsbet, Bet365, Betfair and the TAB are all currently offering this new cash out feature. Cashing out allows you to lock in a profit on your bet prior to an event being completed and opens up a whole new dimension to sports betting for punters. Cashing out is available during live events and it’s about as close as we can currently get to live betting on-line legally here in Australia.
There are three betting tactic scenarios where cashing out can greatly benefit you as a punter. The first is trading on a single event. An example recently in the AFL is when a key player is a late withdrawal from a game. Hawthorn were backed from $1.80 into $1.60 against the West Coast Eagles after the news of Nic Natinui’s unfortunate withdrawal. Hawthorn were $1.80 at the time and you could have then cashed out prior to the game beginning for free profit.
– $100 on Hawthorn at $1.80 (potential profit $80)
– Hawthorn price moves from $1.80 into $1.60
– Cash out on Hawthorn for $17** profit
If you fancy yourself as being able to pick out some market movers then get straight into it with the Luxbet offer. Luxbet will match your first deposit up to $500 which you can use with cash out!
The second scenario involves multi-betting. Every punter had that potential huge collect go down in the dying stages of that last leg of your multi. If you have nailed the first five legs and you have one leg remaining that you now aren’t sure about, you can hit the cash out button and still be paid a portion of your winnings.
Adelaide Crows +4.5 (vs Richmond) @ $1.90
Carlton Blues +29.5 (vs Collingwood) @ $1.90
Gold Coast Suns -12.5 (vs Brisbane) @ $1.90
Geelong Cats -2.5 (vs Sydney) @ $1.90
Hawthorn Hawks -10.5 (vs West Coast) @ $1.90
St Kilda Saints +14.5 (vs Fremantle) @ $1.90
6-leg multi paying $47.05.
– $10 bet pays $470.50.
– First 5 legs win.
– Cash Out prior to STK v FRE game for $215** profit.
The final scenario involves cashing out during a live event. Let’s say you have had $50 on the Canterbury Bulldogs at $3 against the Brisbane Broncos in their round 22 match up. Canterbury took an 18-12 lead at the 65 minute mark, with Brisbane scoring an un-converted try with 10 minutes remaining in the match to put the scores at 18-16 in favour of the Bulldogs. At this stage of the game if you are feeling another Brisbane try then it’s time to cash out.
– $50 on Canterbury at $3 (potential profit $100).
– Brisbane score to put the score 18-16 Canterbury.
– Live odds have Canterbury at $1.50 to win.
– Cash out for $70** profit.
Just this past weekend a punter with Sportsbet cashed out of his $10 8-leg multi for $23,365 before the final leg had begun. The final leg did lose and would have cost this punter his whole multi! Sportsbet are offering a $25 free bet for a $10 deposit for new account holders. Check it out.
Whilst the new cash out feature can be beneficial to you as the punter, you must understand it is in the bookmaker’s best interest as the bookies will always offer you a slightly smaller figure than what you deserve. In the above examples, fair figures would be $20, $237.60 and $75 respectively so you can see they do take a small percentage. However it is still a great option to have when news filters through that changes your opinion on a match or the opposing team is making an uncomfortable comeback!
Luxbet have incorporated the Cash Out function into most of their markets and are offering that awesome sign up bonus. Get involved here!
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