Cash Out Betting Sites Ireland
On this page, Match.Center team compiled a detailed guide on the top Irish bookies offering Cash Out, how it’s calculated, when it’s best to use it and when you should not. We explain how Cash Out works, and provide you with detailed examples and tips to enhance your betting strategy.
Top 5 Cash Out Bookies
Bet365 Cash Out
Bet365 offers all types of Cash Out options (manual, automatic, partial), for many kinds of sports. It boasts one of the best live services in the industry and is a deserved leader in the category of Hi-Tech Features. Bet365 is also a consistent leader in the Irish bookmaker ratings by Match.Center.
Betfair Cash Out
Betfair, a betting exchange, is the inventor of the Cash Out feature, which allows players to secure a profit without worrying about the final outcome of an event. Thanks to the betting exchange mechanism, where players bet against each other, Betfair theoretically offers Cash Out for any bet. However, in practice, you can only cash out on liquid markets, where someone else is willing to take your bet. Despite this, the Cash Out feature sounds very impressive. In addition to being the very first, they are also among the very best.
Paddy Power Cash Out
Paddy Power is among the top ten bookmakers in Ireland, according to Match.Center ratings. In addition to numerous bonuses, the website offers excellent customer service, which is evident in the site’s detailed FAQ on Cash Out. Bets available for Cash Out are clearly marked, and partial Cash Out is available. Punters are treated with care and everything is handled quickly.
Ladbrokes Cash Out
One of the oldest UK bookmakers, Ladbrokes offers excellent functionality when it comes to Cash Out: full and partial, with an indication of Cash Out availability for the planned bet, and for many types of sports. This includes niche disciplines such as boxing, handball, darts, and snooker.
A video explaining how Cash Out works is also available on the site. We appreciate such care for users. Ladbrokes is also among the best football betting sites with Cash Out, offering early settlement for all bets related to the number of goals scored and some others.
Bet-at-home Cash Out
Bet-at-home is one of the best Cash Out betting sites that could recently be called “new”. Overall, it’s a mid-tier bookmaker in the Irish ratings, but its new platform has allowed for the integration of Cash Outs in the best form. Bet-at-home offers full, partial, and automatic Cash Out. There is only one downside for those who like to “keep a finger on the pulse”—no streaming.
How We Chose the Best Cash Out Sites
We included bookmakers in the top Cash Out bookies not only based on the availability of different Cash Out options. We also paid attention to the quality of the live service, which allows for offering Cash Out on niche markets. We preferred platforms with streaming, and all else being equal, we chose sites with the best overall rating from Match.Center experts.
Why is William Hill not on our list? Despite being one of the stable and long-standing leaders of the betting market, as of August 2023, William Hill does not offer partial Cash Out on its new site. While WH rightfully enters most of our tops, it does not make it into this one.
What Does Cash Out Mean?
Cash Out is a feature offered by many online bookmakers that allows bettors to close their bet before the end of the event. It can be used to limit losses or to secure a profit. When you cash out a bet, you receive an amount of money determined at the time of cashing out, regardless of the final outcome of the event.
However, as experts at Match.Center, we generally do not recommend using Cash Out to secure a profit. In most cases, if you are close to winning, it makes sense to wait until the end of the event. By doing so, you will receive the full payout, whereas if you cash out, the payout will be significantly less.
Mr.Alex Quote: After all, you placed your bet because you believed your team would win. And if they are winning, it’s worth waiting for the triumph. The situation could not be better.
An example will show how Cash Out costs are calculated and fluctuate during a match. Moreover, we will demonstrate how the two advanced varieties of Cash Out work: partial and automatic.
How Bookmakers Calculate Cash Out Value
When calculating the cost of Cash Out during a match, the current live odds are used. The higher the odds and the lower the likelihood of the outcome, respectively, the more modest the Cash Out price will be. Usually, the closer the event gets to the end, the more stable the odds are, but this isn’t always the case.
Let’s revisit a thrilling Premier League match between Manchester United and Crystal Palace on 24th August 2019. Before the match, you place a £10 bet on Crystal Palace to win at odds of 7.10. This means that if Crystal Palace wins, your payout would be £71.
As the match begins with a 0-0 scoreline, the Cash Out value offered by the betting site is around £8, less than your initial stake. This is because the outcome is still uncertain and the bookmaker is charging extra to buy back the bet.
However, when Crystal Palace scores the first goal in the 32nd minute, the Cash Out value increases to around £22. This is because the likelihood of Crystal Palace winning has increased. The Cash Out value continues to rise as the match progresses and Crystal Palace maintains their lead.
Suddenly, in the 70th minute, a penalty is awarded to Manchester United! This dramatically changes the dynamics. The Cash Out value drops from £57 to just £15 in a moment, as the likelihood of Crystal Palace winning decreases significantly. But then, Rashford misses the penalty! The Cash Out value shoots up to £63 as Crystal Palace’s chances of winning increase, and Manchester has little time to score.
What is Partial Cash Out?
Having almost had a heart attack at this point, you decide to partially Cash Out half the bet to secure a profit regardless of the outcome. This is done by adjusting a slider on the betting slip to select the portion of the bet to Cash Out. There was a close call for Crystal Palace, and half of their win was settled at odds well below 7.10. You get £5×5.0=£25. And another £5 remains in play.
What is Auto Cash Out?
After partially Cashing Out, you set an Auto Cash Out value for the remaining half of the bet. This means that the bookmaker will automatically Cash Out the rest of the bet once its value reaches a certain threshold. You decide to insure yourself in case it gets hot again at the Crystal Palace gates. The second half of the bet is valued at £25, and you mark £24 as the Cash Out amount.
As the second half of the bet gains in value with time, you imagine taking out full £35.5 (half of £71). However, Manchester scores in the 89th minute! The Auto Cash Out is triggered, but the value of the ‘Crystal Palace to Win’ bet is only £0.3 as there’s almost no time left.
So, you earn £25.3. And very soon you kick yourself for turning on Auto Cash Out after Crystal Palace scores in extra time and emerges a winner!
Here’s a timeline to illustrate how the Cash Out value fluctuated during the match:
- Start of the match (0-0): Cash Out value is £8
- 32nd minute, Crystal Palace scores (1-0): Cash Out value is £22
- 70th minute, Penalty awarded to Manchester United: Cash Out value drops to £15
- 70th minute, Rashford misses the penalty: Cash Out value increases to £50
- 70th minute, You partially Cash Out half of the bet: You receive £25
- 89th minute, Manchester United equalises (1-1): Cash Out value drops, and your Auto Cash Out is triggered
- 93rd minute, Crystal Palace scores again (2-1), and the match ends.
Is Cashing Out a Bet Worth it?
It’s important to remember, that Cash Out isn’t always the best option when facing certain situations. The bookmaker always takes an additional commission when calculating the Cash Out payout, which means that mathematically it’s often clever to wait until the end of the match for the regular settlement, as our previous example demonstrated.
Mr. Alex Quote. Betting should never come at the cost of your peace of mind. If the tension of waiting for the final whistle is too much to bear, then by all means, cash out! After all, no bet is worth a heart attack. So, while it might not always be the most profitable option, Cash Out can certainly be a lifesaver—sometimes quite literally!
Important Cash Out Terms
Cash Out has three important limitations you should be aware of.
Free Bets
When it comes to Free bets, most bookmakers have a specific rule in place: you’re not allowed to Cash Out bets made with Free bets. This means that if you’ve placed a bet using a Free bet token, you’ll have to wait for the event to conclude and the bet to be settled normally.
Market Suspension
During a live match, a bookmaker may suspend betting when significant events occur on the field. For instance, immediately after a penalty is awarded to Crystal Palace, the odds would be frozen. At this moment, Manchester United’s chances of equalising are very high, and almost all odds need to be recalculated. During this period, Cash Out will be temporarily unavailable, as the Cash Out value of a bet is calculated based on live odds.
Offers and Promos
Cashed-out bets do not count toward wagering requirements for most promotions. This means that if you’re trying to meet the wagering of a bonus or promotion, any bets that you Cash Out won’t contribute towards the rollover.
FAQ
Can I cash out any type of bet?
No, not every bet can be cashed out. Most bets made on a betting exchange (like Betfair or Smarkets) can be cashed out because users of the exchange make agreements with each other. For betting sites, where the bookmaker pays out the Cash Out value to the player, the bookie determines the price based on live odds. Thus, Cash Out is available for bets that the betting site offers for In-Play coverage, tracking odds in real time.
What does cash out suspended mean?
During a match, a bookmaker suspends betting when very important events are happening on the field. In our example, immediately after a penalty is awarded, the odds would be frozen. The chances of Manchester equalising at this point are very high, and therefore almost all odds need to be recalculated. At this moment, Cash Out will be unavailable for some time, as the value of the bet for Cash Out is calculated based on live odds.
Can you cash out a Free bet?
At most bookmakers, players are prohibited from cashing out bets made with Free bets. In this way, bookmakers can prevent players from abusing bonuses or engaging in matched betting.
Can you cash out an accumulator?
Many UK betting sites allow Cash Out for more than just single bets. The calculations are roughly the same, but there are limitations on some sites. For example, Ladbrokes only offers Cash Out on football accumulators.
Is there a fee or charge for using cash out?
Yes, there is, and it can be painful 20-30%. The bookmaker takes into account an additional commission when calculating the Cash Out value, which always makes it less profitable than waiting for the winning bet to be settled normally.