Cloudbet has recently announced that it will be offering early cash-outs on a portion of bets at its sportsbook, making it one of very few crypto betting sites to do so. This is certainly good news for crypto bettors, as Cloudbet has a strong reputation in the industry as one of the best bookies available. However, it will also test crypto sports bettors, as they try to make the smartest decisions on bets that are still in the balance in the later stages of a game.
To make the right decision on your early cash-out with Cloudbet, you’ll need to take a few factors into account. Your best decision will be governed by these factors, and just a couple of points of difference can change your calculations. Below, we will look into how these calculations can best be made, based on the information that will be available to you at the time.
Why would you cash out early with Cloudbet?
The case for cashing out early is relatively simple: you have made a bet, and the contest is ongoing. If things ended now, your bet would win – but as it is, there is still some time to go, and things could easily change. If you have reason to believe that they will, then it is time to consider cashing out. You would then take a look at the “My Bets” page and click on the bet you have made. You’ll see what amount you could lock in if you were to cash out immediately, and will have the chance to begin that process. Your first consideration should be looking at how much you would win if you cashed out right now.
How sure are you?
When you know about early cash-out, or you look at your options on the My Bet page, what becomes obvious is that cashing out before the contest ends will mean you win less than you had initially been aiming for. A bet with a potential profit of 50€ might now be cashed out for half of that or less, depending on the state of play in the match you’re betting on. How comfortable are you with accepting less than the original profit? Would you be comfortable with cashing out for less than you initially staked on the game, just to cut your losses? These answers will be driven by how sure you are that the bet will lose if it is left to run. Making 5€ when you staked 10€ is a loss, but ending up with nothing at all is a bigger loss.
You don’t have to cash out everything
You can always use Cloudbet’s early cash-out to lock in some profit and hope to make a bit more. When you look at the amount you could make by cashing out now, you can also decide to cash out part of the bet. Of course, it depends on what you are offered, but if you can lock in a small profit or break even by taking 50% of the available cash-out, you could then choose to let the remaining 50% of the bet run. Your eventual profit, if the bet wins, will be less than it would have been if you’d left it to run 100%. However, you’re making these calculations based on the possibility that you end up losing money, so you have to balance those possibilities against one another.
When using early cash-out, it is important to acknowledge that what you are doing is essentially making another bet. You might be making the right decision, and you might be getting it wrong; there is no magical way of making the smartest choice because you don’t know how the contest will end.