Still, you can’t benefit from that which you don’t understand. Making good use of this abundance of options requires a firm grasp on them. You may have spotted the “CASH OUT” option here and there when browsing Betway betting markets. But do you really know how to use it? Below, we’ll answer all of your questions about the cashout feature at Betway.
Basics Of Bet Settlement
First up, let’s review the fundamentals of betting and bet settlement.
In a typical pre-match wager, you check a betting market and Betway will quote you the current odds. Next, you enter your stake, and the system will inform you of your possible payout. For instance, a stake of €/$/￡10 at odds of 2/1 has a potential payout of €/$/￡30.
Once your stake’s in, your bet can’t be altered; you’re in. All that remains is waiting out the result of the match. If you change your mind and want to walk away from a wager, you’re out of luck. Once the event is over, your bet is settled, depending on the outcome.
For a typical in-play wager, things aren’t much different. Betway will quote you the current odds for a betting market. Enter your stake, place your wager and wait it out. The bet is placed in-play, but won’t settle until the match ends.
Exceptions include special wagers, such as a partial result at half-time. That’s the gist of bet settlement. Simple enough, right? Let’s now add cashout features to the equation.
Markets with cashout features defy these rules. You can recognise them easily, as they are visibly labelled as “CASH OUT” markets. Up next, we’ll go over how cashout works at Betway.
How Cash Out Works
Betway is among a select group of online bookmakers with cashout features. The Cash Out feature lets players take full control of their placed wagers in real-time. In essence, cashing out means that you walk away from a bet before it’s settled.
Let’s use the example above to illustrate all of this. Say your €/$/￡10 bet at 2/1 odds is on Team 1 in a football match. The market in question was labelled “CASH OUT” and, thus, your wager has a cashout option.
If Team 1 scores a goal, the odds of your bet winning increased. Therefore, you could cashout your wager and get €/$/￡20, for instance. It’s less than you’d get if you waited until the bet settled, sure, but it eliminates any risk. There’s no need to worry about Team 2 making a sudden comeback.
On the other hand, if Team 2 scores a goal first, your bet is likelier to lose than it is to win. Therefore, if you cashout, Betway might reimburse you €/$/￡6, for example. It’s less than you staked, but more than you’d end up with if Team 1 loses.
This can come in handy in several different scenarios. For example, once a match begins, you might have second thoughts about your selection. Maybe you’re feeling uneasy about the prospects of your selection after seeing them out on the field. Whatever the case, cash-out allows you to walk away from the wager with at least a portion of your stake intact.
On the other hand, a wager that’s currently winning is still at risk of becoming a loser. If the score is going your way, then you can secure your winnings before anything goes awry. In short, cash out is an eject button for your wagers.
How to Cash out at Betway?
The betway’s cash-out procedure is easy to use. Of course, to activate the cash out feature, first, you need to have an active bet. Then, you just follow these steps:
- Open the section with your active betway bets “Open Bets”.
- Below every active bet slip, you will see a “Cash Out” button next to the amount offered for closing the bet.
- If you are good with that amount, simply press the Cashout button and click “Confirm”.
- After a few seconds, you will see a confirmation pop-up that your bet is successfully closed. Meantime, you will be notified if there is a change in the odds.
- The cashed-out amount will be added to your account balance.
Cash Out For Single And Multiple Bets
There are some differences between cashing out a single bet and cashing out multiple bets at betway. As a reminder, single bets are wagers on the outcome of individual events. Multiple bets compound several events into a single wager, depending on the outcome of each event.
Our example above illustrates a single bet cashout. As your wager’s chances of winning increase and decrease, so do the cashout feature’s payout. You can end up with more, or less, than your initial stake.
Things are a bit more complicated with multiple bets. Let’s say you place a €/$/￡10, 5-leg multi bet, at odds between 1/4 and 1/5. Total odds come out to 17/9, so you stand to win €/$/￡28.9, stake included. Your first two legs win, but you’re feeling uncertain about your third pick.
If you choose to cash out, then your payout will depend on the odds of the remaining legs. For example, you might be offered €/$/￡14, or a net win of €/$/￡4. You could ride it out for the full €/$/￡28.9, risking a total loss in any of the remaining three markets, or you can simply cashout and secure your modest winnings.
Additionally, you can wait for the subsequent legs to be in-play. Events may offer cashout features even while in-play. With Betway’s cashout feature, the choice is completely in your hands. Whether you’re placing single or multiple wagers, cashout features give you more options.
Partial Cash Out from Betway
Another unique feature available at Betway is the partial cashout. Partial cashouts work much like regular cashouts. The difference is that you don’t actually take your entire stake out of the wager. You cash out a portion, with the remainder staying in the game and opting for a payout at full odds.
Here’s how it works. Let’s say you wagered €/$/￡20 on Player 1 to win a tennis match, at 4/5 odds. You stand to win €/$/￡36. The match is going your way, with your player ahead by two games. If you choose to cash out at this point, you might be offered €/$/￡28, for instance. This would secure a net profit of €/$/￡8.
However, if you opt for a partial cashout, things could be different. You could cashout half your wager (€/$/￡10), receiving €/$/￡14 (net profit of €/$/￡4). Your other €/$/￡10 could stay in the game, allowing for a possible payout of €/$/￡18.
When a market allows for partial cashouts, you’ll find the feature inside the Cash Out interface of Betway. A slider bar will allow you to fine-tune just how much you want to cash out. It will also inform you of the potential payout for your remaining stake. This adds a layer of choice for players, making your wagers that much more flexible.
Betway Cash Out: The Fine Print
Like any feature in Betway, the cashout option has its own fine print. Players must pay close attention to Betway Sportsbook’s cashout rules.
- First of all, the Cash Out feature will only be available in specific betting markets and events. They can be identified by the Cash Out icon. This can be a text label or a cash symbol, depending on your location and platform.
- Pre-game and in-play betting markets may both offer cashout.
- Cashout can be used on single, multiple and system bets as well.
- You can check out the cashout options that are currently available for your wagers in the Cash Out tab of the My Bets module, in your account page.
- Keep in mind that Betway doesn’t guarantee that the feature will be available at any given time, even during designated events.
- The feature may be suspended for several reasons, including key turning points in events. At these times, you won’t be able to cash out your wager.
- In a multiple bet, one leg having cashout suspended will suspend cashout for the entire wager. When cashout is available, pressing the button will instantly process your bet settlement.
- You’ll receive the exact payout offered in the interface before confirmation. You can’t reverse a cashout under any circumstances.
- While you can cashout free bets, free bet stakes will not be returned. Therefore, players will only receive the cash portion of the cashout offer.
- Cashed out bets also don’t count towards wagering requirements for Betway promotions.
Betway Cash Out: Pros and Cons
So, you’re holding on to a wager, and the cashout feature is catching your eye. Should you hit the button? Let’s briefly review the upsides and downsides.
- Pros
- Locking in your winnings before the tide turns
- Keeping some of your stake on a likely loss
- Freeing up your funds for wagering on other events
- Cons
- Limiting your potential winnings
- Taking a partial loss that could revert to a winning bet
- No guarantee that Cash Out will be available at a specific time
Final Recommendations
All things considered, there are good reasons to cash unsettled wagers and solid reasons to stay in the game. It’s a deeply personal decision, and only you can make that call for yourself. That said, having the option provides you with tremendous flexibility.
At the end of the day, having greater control over your wagering can only be a good thing. That’s definitely a point in favour of Betway. Many operators don’t implement any sort of cashouts for unsettled bets, so it’s nice to find it here.