Betway Cash Out Guide
Betway is a top online sportsbook that offers a wide variety of sports betting options. Punters can even take advantage of the Cash Out opportunity on some sports bets. We’ll explore how this works on the Betway online sportsbook.
What is Cash Out?
It’s a gambling term. It refers to your ability to get your money back before the event you bet on has finished. You won’t get the amount back in full. How much you get back is determined at the time of cashing out. It’s based on the current likelihood of the bet winning.
The money that you get back could be more or less your initial wager. You can also take advantage of partial payment, which allows you to take out part of your bet and leave the rest to play to the final score. The offer is made in real-time and works on live market prices.
It’s the bookie’s way of giving you an opt-out option if you get a bit nervous or you see that things aren’t going as planned. Many players can’t handle the stress of the upheavals during a game and prefer to take their money out early to calm their nerves.
It’s not a strategy that you should use regularly, but rather occasionally when it makes sense to draw instead of waiting for the outcome. Another reason why you shouldn’t use this feature continually is that some bookmakers will ban or limit bettors that exploit this system.
When Should I Cash Out?
There are a few things to remember if you decide to use the Cash Out feature at Betway.
- Some of your initial maximum profit will be sacrificed when you use the option.
- The bookie offers you your wager back and some profit, if your bet is doing well.
- You’ll get less than your initial stake if your wager isn’t going well.
On the plus side, you can reduce the variance and secure big profits if you pull out at the right time, with the right odds. The negatives of cashing out are that you lose some of the potential profit and you can use any promotional offers with the feature. It can be worth it under certain circumstances.
If, for example, you’re in a bit of a slump and need a quick win to boost your confidence, it could help boost your morale. On the more logical side, if you feel that there’s value in the return you get or the money on the line is significant, then you should consider the strategy.
Markets available for Cash Out on Betway
A general rule on Betway is that if you can see the icon next to the market you bet on, then you can use cash out. It’s available for single, multiple and system bets. In bets of horse racing, it’s only available on multiple bets, and there must be at least one selection with a result before you can use the feature. The Betway offer includes BOG.
You can't use it in the following markets:
- Draw no bet
- Total points or correct score
- Half time/full time
- Both teams to score and match-winner
How does it work?
To explain how the system works, we’ve included a betting example below.
James bets £/€/$10 that Liverpool, Manchester United and Leeds will win their games at odds of 15/8, 1/1, and 3/1. If things go his way, he stands to score £/€/$230.
With 30 minutes left on the matches, he starts to get a bit nervous. All three of his teams are winning, but only by one goal. He has the option to stay put and hopes the results will go as planned so that he can win the £/€/$230, or he can cash out.
In which case, he’ll receive £/€/$190 straight away, no matter what the outcome is. The actual process on Betway is simple. On available markets, the cash out button will appear. If you want to make use of the feature, press the button, and it will go through instantly at the price you see on your screen.
Is there an alternative to Cash Out?
If you decide not to let your bet run its course, and aren’t keen on cashing out, then the next best alternative is hedging. It works by exploiting the changes and differences in odds between different bookmakers. This creates a guaranteed profit from a particular game. It is rare that this happens, but it’s not unheard of.
Let’s take Team A, for example, who start with high odds long before kickoff. Then halfway through, the game changes in favour of Team B. You could take advantage of this change. The total profit from the wager is guaranteed. For this strategy to work, the risks on each side need to be covered by the profits. In this instance, you’ll get better odds on the hedging bet.
Frequently Asked Questions
Why is the cash-out function suspended?
There might be times at which you can’t access the function during the game. This might be due to a few factors, such as it being a critical moment in the game. For example, a dangerous attack in a football game. At this time, live markets are suspended and once the markets resume the option will be available again.
Can I reverse my cash out?
Once the cash out button is pressed, it’s processed immediately, and you won’t be able to reverse it.
How is the Cash out amount calculated?
There’s a formula that bookies use to work out the cashout amount. The formula is: ‘Fair’ Cash Out value = Potential winnings ÷ current odds.
How do I know if I can Cash Out?
You will see the button on your Betway account screen. You’ll also see the current price. You can see both displayed for any unsettled and eligible bets in the ‘My Bets’ section.
Most seasoned punters will tell you that it’s almost always better to let your stake ride until the end. There are only some circumstances that are viable enough to warrant using the cash-out option. If you’re not sure when to use cashout, let your wager lie till the end instead. It’s better than to risk losing profit.