The cashout is one of the most important tools for betting software.
The Cashout means ‘’to cash now’ and it’s an option that allows the customers to close the bet at any time and for a specific market, by blocking the profits or cutting the loss thanks to a mathematics formula which shares the gains equally with the current odds.
What is the Cashout? How does it work?
Nothing easier: it is an option through which it is possible to close a bet, before the end of the matches included in it, and gain an anticipated winning or limiting the damages for a possible loss.
This function reveals how much you can win or lose in real time, based on the trend of the match.
The Cashout is obviously a peculiarity of certain betting software and is not present in most of the Sportsbooks.
When can you cash out a bet?
When the player clicks on the “Cash out” button, the system closes the game by spreading the possible gain (or limited loss) on all the markets present.
The presence of the cashout function is a peculiarity of Sirplay’s platform and is not present on the sites of classic bookmakers.
For this reason, it is of fundamental importance to know how to seize the moment, by clicking on the button before the odds change, or to keep the bet open and check if the payout will be greater.
What advantages does the cashout give to players?
- Thanks to the cashout it is possible to protect their winnings.
- It is possible to reduce the loss.
- With the cashout it is possible to increase the balance, without making further deposits.
Live Betting and Pre-match Cashout
We realized two types of cashout, one is for the prematch and the other one for the live betting and both of them use Sirplay proprietary mathematics which guarantee utility and security.
The Pre-match cashout is highly customizable according to the needs of the Bookmaker. In fact, it is possible to define the minimum number of events, the maximum number of events and also the minimum odd below which cash out is not allowed.
The player as well as the Bookmaker will at all times have a clear view of the potential winnings with and without cashout and the details of which bets have been won thanks to the use of this option.
The Live betting (In-play) Cash out option guarantees the bookmaker a fixed percentage of profit on the bets placed. If your players haven’t requested it yet, be assured that they will do so shortly. The calculation carried out by the system developed by Sirplay is automatic and takes place in real time based on the variation of live odds.
Also in this case, both the Bookmaker and the player will have clear and detailed reporting of the bets that have taken advantage of this attractive feature.
Connect with a Sirplay expert for a detailed discussion about how our services might give benefits to your Betting business and create your own strategy.