What is cashout betting? Is cashout betting for esports a thing? how can you benefit from it? That is the agenda of today’s blog post. Cash out bets might be something for you, or something you should avoid.
What is Cashout Betting?
Cashing out means that you end your bet before the match is over. For instance, if you bet on NiP vs FaZe – and you bet $100 on NiP at 1.8, this cash out option will give you the opportunity to either secure a winning (at a lower rate than 1.8) if NiP are leading the match. Or you can minimize your loss if FaZe are winning (somewhere between 0-99$).
When to close bets during game…
This cash out option is perfect whenever you feel that your pick is tilting, or that the game is so close that you better just cash out – or if doom is certain and you want to minimize your loss.
Is that all?
You can actually close a bet even before the actual match starts. As you know, bookmakers changes odds all the time before the game starts. Sometimes they change that much that you could actually cashout your bet with winnings before the match even started.
When to close bets before game start…
This option, to close before the game even starts – require a lot of knowledge. If you want to play the bookmakers you need to know more than them, do early bets and close them close to game start. This is just recommended if you are really into a specific scene (niche events and such).
If you dig into tier-3 csgo, you might find it lucrative for example.
One more thing…
You can even do cash out bets on multiple betting. So what does that mean? Say that you bet in NiP against Faze, but combine it with a bet on VP against Na’Vi.
If NiP wins, you could decide to close the bet before the VP game starts – and secure your profit regardless if VP loses.
When to close bets on multiples…
Frankly, the only reason I can see using cash outs here is if you lose your nerves or if new information comes up regarding the second map you made a bet on. Another, more rational way of using cash outs for this purpose is to use it in this scenario: Say that NiP is playing two games the same day, you want to do a multiple bet on NiP winning both matches… However, after the first match you realize that NiP is tilting – and you close out the bet before losing to much!
One last thing about the basics…
You can at most bookmakers that offer cash out betting also PARTIALLY cash out your betting. This is great if you want to secure the amount of money you put into the bet slip! And just go break even in a worst-case scenario 😊
Not all events will have cash out offered – so make sure to ask or read up on your bookmaker to make sure they do.
Below are the bookies that Esportslobby recommends, I you want to have cash out betting as a part of your betting strategy.