How Does Cash Out Betting Work?

Understanding the Cash Out Option

Hi and welcome to our cash out online betting guide for Australia where we’ll discuss everything you need to know about cash out betting. We’ll discuss the benefits of live streaming and how it differs from betting pre-match.

We’ll also talk about the types of sports you’re likely to see on a bookie’s live betting page. There’s a lot more to live betting than soccer, you know. We’ll also tell you about the different types of live betting wagers you can place and why betting as the action happens can give sports betting a different vibe.

Read More
Provider of the Month
Top Bookmakers
97/100
96/100
95/100

Compare Australian Bookmakers

97/100
Rating
BlueBet Bonus
BlueBet Highlights
  • User-friendly betting site
  • Great for beginners
  • Lots of betting options
Credit Card
New South Wales
BlueBet Review Visit Provider
96/100
Rating
PlayUp Bonus
PlayUp Highlights
  • Quality sports betting app
  • Competitive odds for horse racing
  • Diverse selection of betting markets
Credit Card
Australia’s Northern Territory
PlayUp Review Visit Provider
95/100
Rating
Unibet Bonus
Unibet Highlights
  • Diverse betting markets available
  • Live streaming on offer
  • Myriad of promotions offer
Credit Card
Australia’s Northern Territory
Unibet Review Visit Provider
93/100
Rating
Bet365 Bonus
Bet365 Highlights
  • Super competitive racing odds on offer
  • Standout sportsbook platform and design
  • Massive amount of betting markets
Australia’s Northern Territory
Bet365 Review Visit Provider
91/100
Rating
DraftStars Bonus
DraftStars Highlights
  • Some of the biggest fantasy sports tournaments
  • Diverse range of sports to build your team for
  • Offers a streamlined mobile app
Credit Card
Australia’s Northern Territory
DraftStars Review Visit Provider
91/100
Rating
Picklebet Bonus
Picklebet Highlights
  • Easy to use betting slips
  • Plethora of betting markets available
  • Competitive odds on offer
Credit Card
Australia’s Northern Territory
Picklebet Review Visit Provider
88/100
Rating
Betfair Bonus
Betfair Highlights
  • Huge selection of betting markets
  • Live streaming available
  • Possibility of great betting odds
Credit Card
Australia’s Northern Territory

What is Cash Out Betting?

If you find yourself asking ‘how does cash out betting work?’ this is the article for you. Cash out betting is another name for live betting. It’s the act of betting on live sporting action and cashing out early before the result of the game or sporting event has finished. Historically, betting could only be done pre-game, but now there are extra options. There are lots of benefits to in-game betting, particularly for the nervous bettor. Imagine, if you will, that you’ve placed a bet on Essendon to beat Richmond in the AFL. The second quarter has almost finished and Essendon are currently losing 6.1 (37) to 7.4 (46). It’s not the situation you thought Essendon would be in at this stage of the game. You’ve got two options. The first is to sit out the bet in the hope that Essendon will make up the lost ground or you can cash out early. The Essendon game isn’t the first match you’ve wagered on today.

It’s actually the third leg of a treble placed earlier in the day. Your previous two games won and this is the last part of the bet to come in. If you ride it out and Essendon wins, your $10 bet will net you $230. But if you cash out now you’ll receive $110. What do you do? That’s the premise of cash out betting. You’re giving yourself extra cash out options by choosing an in-play game, but of course, odds change quickly. If Essendon scores again your winnings will likely go up, but if they lose you lose everything.

A nervous or cautious bettor may choose to take the smaller amount and be glad of a win, whereas someone a bit more adventurous may hold their nerve and see where the result takes them. How does cash out betting work? That’s it in a nutshell.

How are Odds Different Between Pre-Match Bets and Live Betting

So how does cash out betting work in a live scenario when compared to a pre-match scenario? The main difference is the price of the odds. Before live betting, the odds value given is provided on a bookmaker’s best guess based on a sport star or sport’s teams previous form and a series of calculations made by bookmakers’ IT systems to calculate a margin that’s agreeable to the bookie. In other words, it’s a fancy guess.

These odd values fluctuate during live betting as events occur. They can go up as well as down as the final result of the sporting event becomes more or less certain. Understanding the cash out option gives you the chance to benefit from these price fluctuations, as mentioned above.

A different choice of bets

Aside from the usual bets that you’ll find when wagering on a particular sport, there are specific live action bets that can be utilised during live play. These bets may include wagers such as the number of corners in a specific half in football or the number of cards a team will get during a match. Uniquely, live betting gives players the option of leaving the bet early and cashing in when you feel the time is right.

Many sports are available for live betting

Most bookmakers have a tasty choice of live betting sports available. Here in Australia, the majority of live betting will be on Aussie rules, rugby, soccer, tennis and cricket, but some also allow live betting on other sports such as motor racing and golf. In America, American football is one of the most popular live betting choices with new options to wager popping up after every play.

Technical aspects to consider

While live betting seems straightforward, there’s a couple of things you need to know before you wager. The first is the delay between the action happening and the action provided on your betting screen and the other is the live streaming capabilities of a cash out betting website.

Are you seeing double?

When you place a wager during live betting, it’s important to realise that there is a mini delay between the action of a live game and the betting website or betting exchange in Australia updating itself. For most games this will not be a problem, but bookmakers need to ensure they have huge servers to cope with a large number of customers on big events such as the Superbowl and the English FA Cup final. If a bookmaker cannot cope with the number of customers who arrive, lag may appear in their website response times, which can be deadly for live betting which relies on up to date information to make the correct calls. Always double check a sports betting website at slow and peak times to see how they cope with web traffic. The last thing you want is to miss out on a vital wager because that dreaded egg timer is spinning!

Live streaming

The most exhilarating betting experience has to be one where live streaming is at the heart of the wager. It’s not everyday that you can wager on a sport and watch it live at the same time, but many bookmakers are using the technology available to stream soccer and Aussie rules matches, tennis games and cricket across the world to thousands of home locations.

Bookmakers coined onto the fact very quickly that if they offer live streaming they essentially have a captive audience. As customers watch their live streams they are tempted to wager by the actions occurring on their screen. This is how bookmakers make money, though not necessarily how to add funds to a bettor’s bank balance.

Types of live betting wagers

Live betting wagers vary from one sport to another, but it’s common to have additional betting choices for live games then you would usually see pre-match, especially in football. Live betting wagers react to the action of the game or sporting event the players are betting on. The odds vary throughout the sporting contest and different bets become available during the wagering process.

Traditional bets

Traditional bets are the simplest to explain. You place a bet on one of the betting markets that was available before the game or sporting event started. This can include betting on the outright winner of a sporting event, the number of goals or touchdowns scored or something else that is easily available.

Prop bets

Prop – or proposition bets – are bets on the actions of a specific player or team, for example, over/under bets on a player’s number of attempts on goal in soccer or how many goals Lance Franklin will score for Sydney in a game.

Parlay bets

Parlay bets are another name for combi-bets. They are bets where you have more than one leg in the betting scenario. If this was a normal bet you would have to achieve the desired results on every leg of your parlay bet for it to pay out. With live betting, you can watch the situation and cash in your bet at any time, resulting in a payout for a partial win.

One of the most interesting aspects of a live parlay bet is the possibility of adding extra legs to an existing bet during live betting action. This can be used to great effect if you are trying to maximise your success based on a previous wager’s result.

How does Cash Out Betting Work?: An in-game Betting Strategy for All

Betting strategies, love them or hate them, have become part of our betting world. When you are wagering on in-game betting they become even more crucial thanks to the razor-thin line that bettors walk when wagering in real-time.

This in-game betting strategy is our recommended pattern for what to do pre-and during- in-game betting to make the most of your bank roll and your time on your chosen betting site.

Priority – Choose the right platform

Before you can set about organising a suitable betting strategy, you’ll need to select a suitable sportsbook to fulfill the task with. A user-friendly site is your greatest asset to a fulfilling experience. If this is all a bit new to you and you need the perfect bookmaker for beginners in Australia, then you are on the right site. Scour through our endless operator reviews until you feel confident that you’ve found a brand where you can practice these new betting techniques.

Start off with a budget assessment

Most of us will be familiar with our weekly or monthly betting budget, but if you’ve never organised one before here’s our simple guide to do it.

First off, calculate your disposable income. Take a small percentage of this, say 10% and set this aside as your betting budget. Then, crucially, set your betting limit in your betting account options. By officially giving yourself a betting budget, you stop yourself from overspending for two reasons. One, you now know exactly what you can spend, and two, by adding an official betting limit to your account you won’t be able to increase it on the same betting day. This stops you from chasing losses if the bets aren’t going your way.

Once you’ve decided upon your budget, choose your favorite deposit method for betting in Australia and add your betting funds.

Decide upon your bet(s)

Are you a single betting kinda person or would you prefer a parlay bet? How about a combination of both? Take a look at the pre-match betting market and see what deals are out there. Write down (or type) a list of the bets you’re interested in and their current odds. If you like what you see, make at least one pre-live bet. By doing this you give yourself the chance of adding extra bets to the pre-live one once the bet becomes live. These include in-game betting on sporting decisions such as red and yellow cards in soccer, goals scored in Aussie rules and touchdowns in American football. Don’t spend all your budget, though. We don’t want to run out of cash before the live betting starts.

Waiting for the live betting game

This is the time that you’re bound to get jittery, but don’t panic. Your sporting event will start soon and you’ll see the way the land lies.

After the game begins, be sure to watch the whole of the sporting event. It might be something short like a race or a full length Aussie rules game. Either way, you’ve committed to the bet and you should commit to the live stream too, so you can look for any clues as to how your bet may fall. This is the crucial stage of betting as you’re looking for any opportunities that may present themselves.

Place some more bets

So a star player has just gone off with an injury and now the leading team looks like a rudderless ship. Quick! This was the moment you were waiting for. Bet on the other team before things change. At this point, you can add several additional bets to your first wager to sweeten the pot. These can be made as separate wagers to counter a betting decision that’s not going your way or to add additional spice to an already fiery bet. Will you wait your bets out to the end or will you cash in early? Only time will tell!

Frequently Asked Questions About Cash Out Betting

Yep. Online gambling on sports betting is perfectly legal in Australia, although it’s important to note that some casino betting is not currently allowed. In 2001 the Australian government decided to put a curb on the amount of online betting on games of chance such as bingo, slots and roulette occurring in the country. Legislation was passed that made playing casino games like these illegal. Sports betting, however, remains legal and popular to this day.

Q2. Can you let me know the difference between live betting and live streaming?

Sure! Live betting is the act of betting on a live sporting event such as a soccer game or tennis match. Live streaming is a video link of a live sporting event such as the above mentioned soccer game or tennis match. A player can feasibly live bet and live stream at the same time.

Q3. What is a parlay bet?

A parlay bet is one of the most popular bet types for the live betting fan. Parlay bets consist of two or more event legs in the same bet. The odds of each parlay leg are multiplied to give an overall cumulative odds figure. Parlay legs don’t have to be from the same sporting event or even the same sport, but the bets do have to be placed together to be part of the same parlay bet.

Conclusion: So how does Cash Out Betting Work in Practice?

Cash out betting is a simple type of betting where a player makes a bet either prior to or during the live action of a sporting event. The player is eligible to cash out their bet at any time during the remaining event with the exception of the last few minutes of the bet. By choosing when to cash out a player can take advantage of fortuitous odds. We hope you’ve enjoyed our detailed review on cash out betting and look forward to using it in the future. Remember, if you’ve got any questions on cash out betting or any other type of betting please get in touch with our team using our contact details.

How does Cash Out Betting Work FAQ

👐Can I wager on more than one live bet at once?

Wagering on more than one live bet is possible. For information on how to do this check out our cash out betting guide which has further details on how to use live betting to suit your needs.

📍How does cash out betting work from a beginner’s point of view?

A great question. Beginners will be pleased to know that we have everything they need to know covered in our cash out betting guide. There’s everything in there from deciding on a budget to placing a betting limit on your account before live betting. faq-item]

🔎Is sports betting legal in Australia?

Sports betting is legal in many countries around the world. To find out whether it is available in Australia, as well as casino betting, please read the Wetten guide to cash out betting.

97/100
Rating
Credit Card
New South Wales
BlueBet Sports Bonus
BlueBet Review
Visit Provider
Highlights
  • User-friendly betting site
  • Great for beginners
  • Lots of betting options
96/100
Rating
Credit Card
Australia’s Northern Territory
PlayUp Sports Bonus
PlayUp Review
Visit Provider
Highlights
  • Quality sports betting app
  • Competitive odds for horse racing
  • Diverse selection of betting markets
95/100
Rating
Credit Card
Australia’s Northern Territory
Unibet Sports Bonus
Unibet Review
Visit Provider
Highlights
  • Diverse betting markets available
  • Live streaming on offer
  • Myriad of promotions offer
93/100
Rating
Australia’s Northern Territory
Bet365 Sports Bonus
Bet365 Review
Visit Provider
Highlights
  • Super competitive racing odds on offer
  • Standout sportsbook platform and design
  • Massive amount of betting markets
91/100
Rating
Credit Card
Australia’s Northern Territory
DraftStars Sports Bonus
DraftStars Review
Visit Provider
Highlights
  • Some of the biggest fantasy sports tournaments
  • Diverse range of sports to build your team for
  • Offers a streamlined mobile app
Provider of the Month
Move to Top
×
Your Bonus Code:
The bonus offer was already opened in an additional window. If not, you can open it also by clicking the following link:
Go to Provider