As one of the top sports betting operators in South Africa, Hollywoodbets is always looking for ways to provide increased betting flexibility. In addition to its already impressive list of betting features, the cash out a bet feature is one of its greatest. However, as this is a new betting feature, many players are unsure how the cash out feature works.
With Hollywoodbets offering partial and full cash out options, this article will explain everything you need to know about the Hollywoodbets cash out feature. Keep reading to find out more about how to cash out on Hollywoodbets and the different cash out options you can avail at Hollywoodbets.
Understanding Cash Out Options
The cash out a bet feature at Hollywoodbets offers a number of convenient ways for you to settle your bet before an event’s eventual outcome. As Hollywoodbets offers bettors the option to partially or fully cash out their bets, it is important to understand the difference between the two.
The partial cash out will provide a partial settlement of your bet while leaving the remainder of your bet in play. This is an ideal option if you are on the fence about whether your bet will end in your favour.
The other option is a full cash out, but unlike the partial cash out, the full cash out option will settle your bet in full. Once you accept the settlement amount, it will be immediately credited to your Hollywoodbets account.
While both options give you better control over your bets, the cash out values are determined by the current odds and the amount of your original bet. Furthermore, the availability of the cash out feature may not always be available and may be dependent on your bet type (single bet, live bet or accumulator bet).
How to Cash Out A Bet Step-by-step
Understanding how to cash out a bet at Hollywoodbets will save you a lot of time when things aren’t going as planned. Considering this is a relatively new betting feature at Hollywoodbets, many punters are unsure of the cash out a bet process. Therefore, to enlighten you on how to cash out a bet at Hollywoodbets, we have step-by-step how to cash out a bet guide at Hollywoodbets below.
- Step 1: Navigate to the official Hollywoodbets website.
- Step 2: Log in to your Hollywoodbets account.
- Step 3: Open your bet history and select the unsettled bet you would like to cash out.
- Step 4: Confirm the cash out amount.
- Step 5: Cash out your bet.
Bear in mind that if you have used a cash out feature in the past, the Hollywoodbets cash out process is slightly different. The reason is that you can only cash out a bet by accessing your bet history versus your betslip.
Furthermore, you can only use the cash out a bet feature at Hollywoodbets when betting on multiples and only valid if one of the legs of a multiple bet has been played. On the plus side, the process is the same regardless if you are logging in via the desktop or mobile platform.
Advantages of Cashing Out
Whenever cashing out a bet, there are a number of variables that need to be taken into consideration. One could be whether cashing out early is the right decision and another could be the size of the bet and the settlement amount of that bet.
While these are valid variables to consider before cashing out, at the end of the day, you will find there are a number of advantages of cashing out. Here is a summary of those advantages.
- Risk Management: One of the biggest advantages to cashing out a bet is risk management. It allows you to minimize your losses while simultaneously securing profit.
- Flexibility: Having the flexibility to make strategic decisions based on live game situations is a game changer. Not only can you cash out your bet, but you can retain a portion of that bet for other bets. This is especially advantageous as conditions change during a live sporting event.
- Locking Profits: Securing a portion of the potential winnings before the outcome is finalized is another advantage to cashing out. By doing so, you are able to lock in a minimal amount of profits that could potentially generate additional profits when you place other bets. It is also an excellent way to manage your bankroll responsibly to avoid any unnecessary losses.
Hollywoodbets Cash Out Terms and Conditions
Similar to other betting features offered at Hollywoodbets, there are terms and conditions that govern how the cash out a bet feature works. A summary of those terms has been included below:
- The Cash Out feature is only available for select markets and selected pre-match football games.
- Hollywoodbets does not guarantee that the cash out feature will be available for a specific event or bet type.
- The pre-determined settlement value will be based on the selected match, the price taken and the status of that betting transaction.
- The settlement value of the cash out is non-negotiable and only changeable if the value of settlement changes during the settlement transaction.
- Should a selection be suspended or closed before a cash out settlement is completed, the settlement will be blocked.
- If a cash out settlement has been accepted accidentally, the settlement transaction will be voided.
- If a player accepts a cash out settlement amount, it will determined that the original bet has been settled and any changes in the outcome of an event will not be considered.
- All cash outs are subject to the Hollywoodbets bet acceptance and standard settlement rules as outlined in its Terms and Conditions.
- Hollywoodbets retains the right to suspend or cancel a cash out within prior notice.
FAQ
Can I cash out a bet before the event has started?
No, you may only cash out if one of the legs of a multiple bet has been played.
What happens if I cash out and the event ends in a push or draw?
If you cash out and the event ends in a push or draw, nothing will happen as your bet has already been settled.
Is cashing out available on all sports and events?
No, cashing out is not available for all sports, it is only available for select pre-match football events.
Can I cash out multiple bets at once?
No, you cannot cash out multiple bets at once at Hollywoodbets as the bookie requires you to cash out bets individually.
Does cashing out affect my eligibility for bonuses or promotions?
Cashing out a bet will only affect your eligibility for a bonus if the terms and conditions for Hollywoodbets bonuses state cashing out will negate your bonus eligibility.
Are there any fees for cashing out?
No, there are no fees for cashing out, but the settlement amount will be less than the amount paid if an event concludes naturally.
