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Cashout and hedging a bet
Cashout and hedging a bet

Cashout and hedging a bet

Written by Neil
Updated over a week ago

Kindly note that cashout option is not available on all matches and it will be shown in the position tab once the bet has been placed.

Full T&C you can read: under no.7 - Cashout

What is a Cashout Bet?

A cashout bet is a type of bet that gives you the option to settle your bet early, before the event you bet on has concluded. This feature is available on Sportmarket, and can be a useful tool for managing your bets.

How Does it Work?

When you place a cashout bet, you are essentially placing two bets at once. The first bet is your initial bet on the outcome of the event. The second bet is on the cashout amount, which is determined based on the current odds at the time of cashing out and the initial stake or potential payout of your bet.

For example, let's say you place a bet on a football match with odds of 2.0 and a stake of €50. This means that if your bet is successful, your profit will be €50. However, if the match is not going as expected and you want to cash out early, the cashout amount may be lower than your potential winnings. This is because the odds may have changed since you placed your bet, and the cashout amount is based on the current odds.

Why Use Cashout Bets?

Cashout bets let you manage your bets better. If your event isn't going well, you can cash out to secure part of your potential winnings. And if things are going great, you can cash out to lock in your winnings before the event ends. It's a useful tool for reducing losses and guaranteeing profits!

Hedging a bet

It can happen that on a lot of matches cashout is not available. Hedging a bet is like having a backup plan for your original wager. It's a strategy where you place a second bet in case you're not sure your first one will win. Even if you're feeling pretty confident about your first bet, hedging can give you peace of mind and ensure you come out ahead no matter what.

When you hedge a bet, you're basically playing it safe. Yes, your win might not be as big, but it's a way to protect yourself if your original bet doesn't pan out. This strategy works for all sorts of bets, whether they're long-term futures wagers or bets on individual games with point spreads or moneylines.

Hedging lets you walk away from your bets feeling like a winner or at least less of a loser -it's a smart move for any bettor!

How to hedge a bet:

Hedging a bet might sound a bit intimidating at first, but it's actually pretty straightforward!
It's not something everyone thinks about, but it can be a smart move when you're looking to protect your potential profits. Here's the deal: hedging a bet involves placing a second bet that ensures you'll make some profit, no matter the outcome of the event you're betting on. You can do this for future bets or even for individual games. It's like giving yourself a safety net for your wager. Here's an example:

  • Imagine Barcelona is playing against Liverpool, and you bet €100 on Barcelona to win with odds of 2.2. If Barcelona wins, you'll make a profit of €120.

  • During the game, Barcelona is winning 1-0, and you're worried they might not hold on. So, you decide to make a second bet to protect your original bet.

  • You can do this by betting on a draw or Liverpool (double chance X2) with an amount that ensures you'll make a profit no matter who wins.

  • For example, you could bet €110 on a draw or Liverpool to win (double chance X2) with odds of 2.00. If Barcelona wins, you'll lose this €110 bet, but you'll still make a €10 profit overall (€120-€110).

  • If Liverpool wins or if it's a draw, you'll lose your original €100 bet, but you'll win €110 from the bet on Liverpool (€10 profit).

This situation illustrates how hedging can reduce the potential profits of the original bet, but it also protects the bettor from a total loss. It acts as a way to guarantee some winnings, even if they may not be as substantial as they could have been.

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