Bovada.lv has added a “cash out” option for several sports. As the Bovada Sportsbook is one of the elite sports betting sites, they are always trying to improve the way they pay their members.
Read on to find out more about the cashout option and when it will be available at Bovada and for which sports.
What is Cash Out?
Cash out is a betting option that allows you to “cash out” your bets before a match or event ends. You won’t get the full payout from your prematch wager.
However, you will get an adjusted rate (based on the live play) and an opportunity to lock in a profit before the event is over.
Cash out is relatively new to online betting markets. It’s only been available for the last few years, and Bovada is easily the largest betting site that accepts Americans, to implement it for their customers.
What Sports Will Be Available For Cash Out?
So far, they have added it top 1X2 soccer odds, but there will be several more options available in the coming weeks.
Cash out will be available for NFL and NCAFF moneylines on September 23rd. After that, baseball and hockey moneylines will be added on September 30th. Cash out will be ready for the start of the NBA season, which begins on October 21st.
In addition, more sports and markets are expected to be added to the betting menu.
Should You Use Bovada’s Cash Out Option?
It’s tough to say if you should use the cash out option at Bovada. It depends entirely on the odds offered.
The cash out option is basically a hedge bet offered by a bookmaker. Bettors should consider the reason they want to hedge in the first place before exploring the cash out market or deciding to hedge their bet.
However, there are potential uses for it. The sportsbook may not calculate their cash out market correctly, and there may be an edge depending on the current state of the live event. But, it’s worth noting that in the rare cases that cash out has been rolled out, it does not appear that the market is one that is worth utilizing as a sports bettor.
Remember, it is unlikely that betting sites would offer this market, unless they had a sure edge on those placing the wagers.
How To Cash Out Your Bets At Bovada
Bovada makes getting your guaranteed cash out on certain bets very easy:
- Click the Open Bets tab on your Bet Slip.
- Locate the wager you’d like to Cash Out. Eligible wagers are clearly indicated with the Cash Out button, including the Cash Out amount. These amounts are updated automatically.
- Select ‘Cash Out’ and the amount indicated will be returned to your account balance. The cashed-out bet is then removed from your Open Bets.
Bovada Increased Their Welcome Bonus For Limited Time
Instead of the typical 50% bonus up to $250, they are offering a 50% Welcome Bonus up to $1,000 until October 1st.
If you have not yet signed up for Bovada, take advantage of this offer and get some extra added bonus bucks to your bankroll before it is too late.