As the betting industry in Kenya continues to grow, the Kenyan betting sites are always looking at what betting products and features to introduce in order to give punters a world class betting experience.
Over the years, a number of betting products have been introduced into the betting industry like eSports, Virtual Sports, SRL, Cash Out and several other products. This article seeks to identify which Kenyan betting sites offer Cash Out and how to use Cash Out, but firstly, there is need to explain what Cash Out is?
What Is Cash Out?
Cash Out is a great betting feature which allows you to get money back on your bet before the event you are betting on is over. One factor which determines the amount of money you will get back at the time of cashing out is the likelihood of the bet winning. If your bet is likely to win, your Cash Out amount will be greater than your initial stake but if your bet is likely to fail, then the Cash Out amount will be less than your initial stake. It is important however to note that never at any point will your Cash Out amount be higher that the potential payout initially calculated. Cash Out was made popular during Leicester City’s historic season when they won the league. As it became more and more clear that the foxes were winning the title, bookmakers started offering payouts to those punters who had tipped Leicester City to lift the league and the bookmaker did this in order to cut their losses.
A good example of Cash Out is if you had backed Manchester United at R100 at odds of 2/1 to beat FC Barcelona, and FC Barcelona goes on to win the first half, then naturally your cash out value will decrease to significantly less than R50 in accordance with Manchester United’s chances of winning the match and thus your bet being successful.
Which Bookmakers Offer Cash Out?
Betway Kenya
Betway offers Cash Out on placed bets but please note that not all bets are subject to Cash Out. Once you realise that there is an option to Cash Out, it is your duty to accept settlement of bets You have placed before the result of the bet is determined.
The ‘Cash Out’ amount is calculated based on the current odds and is subject to change depending on when you chose to accept a ‘Cash Out’. If ‘Cash Out’ is available for a placed bet, the corresponding symbol will be displayed in the ‘My bets’ section of My Account or through the Betslip “My Bets’ Widget.
Please note that the ‘Cash Out’ functionality is available for single and multi bets only.
If the ‘Cash Out’ value has changed immediately after the customer’s request before the conclusion of the ‘Cash Out’, the ‘Cash Out’ a message confirming this change will be displayed to the player, the player must then confirm if they are happy to accept the change.
BetRaha
BetRaha gives its punters an opportunity to take control of their bets before the event is in over. Cash Out is offered on a number on a number of sports and markets. You need to look for the dedicated Cash Out icon which indicates if Cash Out is available or not.
If you choose to Cash Out your bet, this amount will be settled and the final result relating to your bet will have no impact on the amount returned to your account. Once cashed out the betslip will be updated within your “My bets” section.
Sportybet Kenya
Sportybet offers Cash Out to its valued customers and it is available on a wide variety of markets but you will always come across bets that do not qualify for Cash Out. Please note that the Cashout amount offered at any time is the total amount that will be returned to your account if successful.
In order to Cash Out, you must log into your account and select “Cashout” in the betslip and those with the “Cashout” icon can be cashed out immediately. Please note that the minimum cashout amount is KES 1.00. Moreover, bets placed using a Gift are not eligible for “Cashout”.
Helabet
Helabet offers a product quite similar to Cash Out which they call the “Bet slip sale”. If you do not want to wait until your bet has been settled, you can sell the bet slip back to the company in part or in full.
The service is available in “My Account – Bet History” or in the “My Bets” tab on the bet slip. Please note that the minimum and maximum amounts the customer can get back into their account are determined on a case-by- case basis, dependent on the specific bet placed. In some cases the customer can only sell the bet slip in full. In other cases, depending on the bet, the customer might be able to sell the bet slip in parts, and in several transactions, within the stake amount.
There are instances where bet slip sale is impossible namely:
The bet has been settled
One or more outcomes on the bet slip have been blocked
The bet slip contains outcomes which cannot be sold
The bet slip is insured
The bet slip has already been sold
The price offered to the customer for the bet slip has changed. In this case the customer should choose new amounts in the bet slip sale dialog window.
mCheza
Chezacash offers Cashout on most of the matches they offer. In order for you to Cash Out on a match, you must check for the matches with a dollar sign on them and this indicates that the match has the cashout option. Cash Out can be made for both ordinary or express bets.
Dafabet
Dafabet offers various betting products including Cash Out. Cash out is not always available but if it is available on selected bets, it will be shown by a stack of coins icon above the applicable market.
In order for you to use the cash out feature, simply head to the cash out page of the My Account section and click cash out to take the amount offered by the system.
Kwikbet
Kwikbet offers Cash Out to its punters and the amount you will be offered will reflect in your My Bets tab. Please note that the cash out amount will be based on the actual odds at the time you chose to look for a Cash Out offer and the amount on offer will never be more than the total potential win of the betslip.
Kwikbet Cash Out allows you to do the following:
Pay out a portion of a bet before it is settled
Reduce your risk and collect some winnings if you’re concerned about the remaining time in an event, or your selections in your Multi Bet not going your way
Cancel your bet before kick-off and receive a portion of your bet back if you’ve changed your mind