One of the great features of online betting is the Cash Out tool. While it is not available for every sport, market and bet, it is commonly used by bettors to take advantage of situations on the fly.

The feature allows you to take control of your wagers, by settling them before the final whistle of a football match, for example. It is a fantastic tool available at cash out betting sites, such as those recommended by Match.Center in Nigeria. And punters can use it to exploit a favourable situation.

Here is a guide to the top five situations you can find yourself in and when to use the Cash Out tool.

Why Cash Out a Bet?

There are two sides to cashing out a bet. The first is that it can present an opportunity where you want to lock in some profit from a wager that is currently winning at the time. On the flip side of that is having the ability to mitigate some losses without delving into the time-consuming world of hedging bets.

Offers will crop up when the lines have moved significantly from the time you placed your bet, to the current moment.

In the situation of a winning bet, the bookie will offer a settlement amount, which will be a portion of the overall potential winnings. The advantage for the bookie is that it could save them a full payout, while the punter can secure at least some winnings if not the full profit.

1 – Accumulators

Accumulators can be fun. They can also be stressful and extremely difficult to win as well. A great time to Cash Out on an acca is with one remaining leg. For example, if you have four legs completed successfully of a five-fold acca, you should get a good offer from the bookie. This mitigates your risk of having everything hinge on that final leg.

2 – The Losing Bet

There is an advantage to a Cash Out option on a losing bet. If a wager is only narrowly losing, say you backed a draw, but the score is 1-0 with 10 minutes to play, it could be a good time to take an offer. There is still some risk for the bookmaker that the other team will equalise in the last ten minutes forcing them into a full payout. This situation is generally about the bettor no longer feeling confident in a bet.

3 – Partial Cash Out

A good situation if you have received an offer because things are going well is a partial Cash Out. Instead of taking the full amount on offer, some Cash Out betting sites will allow you to partially settle some of the stake, leaving the rest to ride, or, partially Cash Out again, which you can usually do up to five times.

4 – Auto Cash Out

Staying on top of current betting lines can sometimes be tricky. Some betting sites have an auto Cash Out tool. This allows you to predetermine the point at which you would be happy to settle a bet. When a settlement offer reaches a certain predetermined value, the bet will simply settle automatically.

5- Live Bets

Make sure you take advantage of the Cash Out feature for live markets too. These can be short snapshots of opportunities. It could be watching a match and getting a feel about which team is going to open the scoring. You could back that team to win in-play, and then Cash Out the opportunity if they do go ahead.

Risk Assessment

Using the Cash Out tool is a fine balance of risk assessment. The negative side of things is that you could Cash Out a losing bet, only for circumstances to change meaning the bet would have won if it had been left to run all the way. But as a tool for taking charge of your bets, the Cash Out is hard to beat.