The cash out feature was introduced to give a punter a fifty-fifty chance of winning back part of their initial stake amount and was mostly used in sports betting before a match has ended. Nigerian punters love this feature simply because it helps in avoiding a complete total loss in the event a multibet fails and the rules vary from one bookie to the other.
Despite these visible variations, the same principles apply in the cash out. The cash out amount is determined if the bet slip is close to winning. The system automatically generates a total amount that you can cash out and depending on number of won bets, the amount is usually greater but will later fall due to changes in odds.
In this article, we will take a look at tips to help you for completing a cash out strategy, when to use the cash out betting strategy, when to cash out bets in sports betting and advantages & disadvantages of cash out betting strategy.
Tips for completing a Cash Out strategy
There are different ways you can use this feature depending on the bookmaker policies in Nigeria. Here are some of the common tips that will guide you, when formulating your cash out strategy.
- Select a reliable & reputable bookmaker offering the cash out. Why is this viewed as a strategy? Some bookies in Nigeria tend to offer outrageous cash out rules and regulations. Therefore it’s important to first understand how the cash out feature works for a particular bookie and how best to utilize it, to get the best profits while avoiding losses.
- Be disciplined and focused. Setting limits is considered a wise choice when it comes to online gambling and having a strict limit will help avoid unnecessary risk. The common type of limits set is avoiding bets aimed at recovering lost bets and usually all professional punters understand when it’s time to stop, during a set of losing streaks its important to stop and take a break from gambling.
- Calm and well composed. Nigerian punters who are making a living out betting have over the years thanked their ability to control emotions, mastering gambling stress and pressure is a skill that you should be able to understand. Taking time to view bets differently will help you in deciding whether you should take a cash out or let the bet run, in order to get the best profits.
When to use the cash out betting strategy
Early cash outs are 22% more profitable than late ones’. Depending on the bookmaker operating in Nigeria the cash out feature can be allowed anytime during the sports event while some will avoid losing to the punter and will only offer cash outs on special events or a limited number of sports betting. On such an occasion being experienced is key, an experienced gamble may let the bet run to get full profits or decide to do partial/full cash out. The level of experience will decide the step to make and depending on the type of sport.
Football betting cash out strategy
The most watched event in the world is sometimes unpredictable especially if an underdog team is facing a favourite for a title. Some of the top teams have a particular behaviour that experienced punters can notice and take advantage of them. In top leagues some teams who score first tend to lose a match due to their opponents comeback and some will defend a small lead to the end. Depending on such cases its wise to first analyze before taking the risk of cashing out.
Tips on football strategy: never cash out a team that is leading by 2 or more goals in the dying minutes. Although some teams have been known to make serious comebacks like Akwa United. If you are not sure whether to cash out its clear indication to cut losses by cashing out early.
When to cash out on basketball
Basketball tends to change with time let’s say you have backed an favorite to win and the underdog is leading in the first round. The lead may be overturn with the favorite scoring more pointers therefore if you had cashed out earlier you get less than half your initial stake on the wager. Cashing out the early favorite is not beneficial, in the other placing a handicap bet is sometimes considered a risk especially if the underdog is winning by more points but in basketball things can change drastically therefore maintaining discipline and remaining calm is key. It every game needs to be cashed out.
Cash out tips for tennis
Tennis is individual sport therefore form and level of a player are the most considered factors. These factors build a winning bet and can also determine when to cash out. It hard to find cash out on grand slams since majority of bookies offer lowered odds on favorite players and therefore avoid placing bets unless you are certain you can win. Bet on womens’ matches higher ranked females have been known to come back from a disappointing sets to win. Therefore you should avoid cashing out early on the favorite individual to win despite having had bad sets earlier. Lower level events in tennis may not have the cash out feature but on special occasions the bookie mighty offer cash out on a popular favorite to win against a higher ranked player and the lower ranked player may just challenge the higher ranked and win.
- Helps secure profits
- Alternative cash out feature making betting flexible. (partial/auto-cash out/full)
- Great for the accumulator or multiple bet types
- Early cash out is less profitable and it’s also considered a risk to let the bet run
- Excessive cash outs is not profitable since bookies offer higher cash out margins and will diminish a players profits.
- Reduces starting odds. As the match progress the cash out option also changes and lowers with time. Making an early and also a late cash out option is not beneficial.