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Contrary to the name, cash in betting sites have nothing to do with your ability to take out your winnings in cash. As a matter of fact, all brand new sports betting sites in Australia that allow cards, which is almost all of them, also allow such withdrawals. Rather, it means to cut your losses and cash out a bet before the sporting event on the ticket is over, or before it even begins.
Cash in betting sites is an innovation, leaning heavily to live betting options that became so popular in the past. They offer a chance to act quickly if the circumstances of your bets have changed such as on the occasions that:
In these situations, there is a chance that you have placed a bet before the change happened. Now, it is possible that your favourite became an underdog overnight. Here, it is better to cash out your bet and cut your losses than to keep playing and lose everything.
There is a bit of confusion made by the betting operators in Australia and globally about the term. Namely, the nature of online betting in many cases prevents any type of direct betting with cash. And although there are some possibilities to bet directly from the betting house and use cash to buy into your betting account, that doesn't actually count.
Much more common today, at least in the domain of online betting, are cash-in betting sites that offer a chance to cash out or quit the bet before the sports event is finished. It is, for all intents and purposes, the opposite of live betting.
Depending on when you cash out, your winnings can be more or less than what you bet for. For single matches, most operators will just allow a cancellation and will simply return your bet as it is. Some might charge a small processing fee, but it will never be more than just a few percent of your initial bet at the bookmakerâs website.
But, if you have multiple games on your slip then the amount you can withdraw can change. If some of the games are winners, the operator will count them towards your winnings and pay out more than you have bet so far.
This will still be less than what you would get if you played those games alone, but significantly more than what you would get if the slip fails.
If you asked how big of a loss does a bettor take when using the cashing out option, the answer would be - it actually depends. In most cases, you will be able to withdraw less than what was your original bet. This is why many see the cash in option as a stop-loss feature. But, if it looks like you might still win, or you have winning games on your slip, you will receive more than your initial bet, just not as much as you would if the whole slip is successful.
Because this option is so novel, it is hard to determine a clear winner between the betting operators on this feature alone. Additionally, most bookmakers online will change how this option works and improve upon it all the time, so any clear list may become unusable after a while.
Still, there are four features that you should look for in any betting operator that offers to cash out:
Each of these will be crucial when it comes to how you will experience the feature. And, while any individual player will value the aspects differently, having a bookmaker objectively fail any of them will make it unusable.
Cash-out betting, similar to live-betting, depends on the service being more or less instant. While you can't guarantee that everything will happen the moment you tap on the screen, the command itself should take more than a couple of seconds and the process should last, at most, a few minutes.
Also, you want your cash out amount to be tied to the moment you used the option, not the moment it is processed. In sports, the whole game can change in just a minute and you donât want to depend on the will of the internet on your final result.
When it comes to the response time, less is more. If the operator can't guarantee near-instant responses to your commands then you may wish to avoid using this feature with them.
It is to be expected that because this is a relatively new feature and the bookmakers don't yet know how to deal with it completely, the cashout amounts won't be ideal for the players. Still, we should expect them to at least be fair. If you have already guessed some games on the slip correctly you should get more than you bet.
For those who don't bet large amounts, this might not be a big issue, but even in that case, there is a point where it is just easier to take a loss than to bother with live betting and that shouldn't be a case. For this to be a real feature that is useful to anyone, the choice to cash in or to stay in play should be a real one.
If one bookie can't deal with the difference, then it is perfectly okay to find a different one. With such a large selection of betting options in Australia, it is up to the players to find the best option available.
This aspect doesnât only mean for the bookmaker to have an app, but to have a good app. You want your cash in betting sites to have this option clearly available and easily accessible from each platform.
You shouldnât need to go through five menus just to cash out. Rather, there should be an option right at the bottom of your slip to cash out that will work with just a tap. Ideally, it should also show the amount of money you would get if you cash out at that moment.
This looming choice is what makes the feature fun, and if you don't have the fear of missing out pushing you from both sides then there is no point in even using the option.
To bet on sports correctly, you will need to know at all times which bets you made, what are the odds, and how you are progressing so far. Because there might be some games that you didnât get to watch and are on the slip, you want to know what happened and where you are now.
In the case of cash in betting sites, this means that you should see clearly what is the result of your game so far and how much you get if you cash out. Even on mobile devices, the overview of your current bets and options should be available with as little scrolling as possible.
Because this feature became so popular so quickly, virtually all betting sites in Australia have started offering it. But, that doesnât mean that they would all make the list and that they would be a good option.
In many cases, the partial cash out won't even depend on the current result but rather be a semi-fixed percentage of your original bet. In that case, not only would you always be at a partial loss but it might be much better to play systems that allow you losses than to even dabble with cash out options.
For cash in betting sites to be considered good options they need to have fluctuating odds, easy and accessible live betting, good apps, and good customer service. An option for a live chat would be ideal so that you can ask any question while the game is running.
At the moment five operators should be considered:
Each of these will be slightly different, but they will all have a good grasp on what cash in betting should be and how it should be regulated on the platform. They also all have solid apps that you can use on virtually any smartphone, at least as browser access if not a dedicated app.
For experienced bettors, this can open a whole new dimension of options and an opportunity to change your bets as the game changes. And while the odds given could be better, other features compensate for that fact quite a bit.
Cashing out bets, provided that the option is available with the bookmaker you have selected, is rather easy. For operators that allow this feature, the cash out will be virtually instant. Once you tap to cancel the bet and withdraw your money the process will take a couple of minutes, after which your money will be back in your gaming account.
Because many operators have VISA and Mastercard debit cards that are attached to the betting account, you might even be able to have the money in cash in less than an hour before you cash in your bet.
Please take note that the cash out in this sense has nothing to do with your withdrawal to your bank account, which is done separately on the platform and not for each bet individually.
Because this is such a new option, it is difficult to touch upon every difference each betting operator will have when it comes to cash in betting. But, when it comes to betting sites in Australia, some questions reappear often.
Due to the fact that this new feature became so trendy quite quickly, lots of betting sites in Australia have started to include it into their offer. Check out our list of best bettings sites that offer cash out above!
Not all. While a lot of online bookmakers in Australia have an option to cash out early, this wonât be the case with each operator, and it will be even rarer with those that donât offer live bets. It is always best to inquire with the bookmaker about this feature before you start betting, especially if you will not be selecting one from our list. You donât want to be unpleasantly surprised later.
Yes. In many cases, you will be able to cash out bets in the middle of the game. But, your withdrawal amount will change depending on the situation on the field. If live betting is allowed, the current result will be deducted from your previous prediction and partially cashed out. That way you can either protect the current score to a point or save yourself from a total loss.
The new function started to draw more and more attention since the very introduction of it to the Australian betting market. Many bookies do offer it, and to choose one is quite a challenging task. It is better for you to rely on a combination of factors: licence, deposit/withdrawal options, accessibility, response time etc. beside only looking for a cash out option.
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