How do we award operators?
We set ourselves a real challenge when it came to finding the best horse betting sites for cash out. After all, cash out betting isn’t something that goes hand-in-hand with horse racing bets. Plus even the best online bookmaker for cash out might allow you to cash out your rugby or cricket bets, but they might not have this option for thoroughbred betting.
So we had to go through each Australian bookmaker to see if they had a cash out service, and if you could apply it to horse racing. By doing so we are well-placed to give you a good shortlist of the best horse betting sites for cash out.
What other categories are operators awarded in?
We won’t just reveal the best online bookmaker for cash out in our awards section. This is because we will also show you the best horse betting site for sign up offers and the bookmaker with the top VIP program. Plus we’ll even highlight the best horse racing betting exchanges so that you can try backing and laying your thoroughbred bets.
But we won’t stop there, as we’ll even draw your attention to some newcomers in the horse betting industry. In addition to this, we’ll help you find those betting sites who have some great online casinos so that you can get some practice bets in before that next big race.
Our awards for the best bookmaker for cash out was designed to be as thorough as possible. So we thought that we should try and answer some of the most common questions that punters had about this award process.
Q1: What does cash out mean?
Cashing out your bets means that you cancel the bet before the sporting event has concluded. This allows you to hang onto a winning bet before things take a downturn, or minimise losses before things get really bad. In horse racing, you’ll probably only be able to cash out bets before the race begins.
Q2: Which bookmakers are featured in the awards?
We included all of the bookmakers that are serving Australia at the moment. Just so you know, we checked each betting site to make sure that it has full licensing and regulation for your online safety. This means that you can go to any bookmaker featured in our shortlist and enjoy a quality thoroughbred betting service.
Q3: How fair is the awards process?
Our review process is completely fair and unbiased. This is because we are not tied to any sports betting site in any way. This should provide you with a completely transparent and accurate picture of how good these bookmakers are at cashing out your bets early.
Q4: Can I vote in the awards?
Yes, because we want our awards section to be as open and democratic as possible. You can vote by registering an account with us and then heading to the awards area. By putting down your vote you’ll help all other horse racing fans discover the best bookmaker sites for betting on the horses.
Q5: What other horse betting awards are there?
Alongside identifying the best horse betting sites for cash out, we have awarded those bookmakers who give you the best odds, and we can even show you the best horse betting site without limit so that you can enjoy making some massive winnings. But we didn’t stop there, as we even can show you the best horse racing app and the best horse racing software so that you can enjoy an easy way to bet on the horses.
In order to find the best online bookmaker for cash out, we had to think carefully about what the average punter would be looking for. So we visited a massive number of betting sites and tried cashing out our bets early. We found that there were four main factors that determined which bookmakers ended up getting top honours.
How late could you cash out your bets?
Timing is everything when it comes to cashing out your bets. After all, the amount of your betting stake that you’d get back is determined by the ever-changing odds. This means that even a split second can have a big impact on your overall racing profits.
So we were keen to see what was the latest that bookmakers allowed you to cash out your bets when it came to thoroughbred racing. The one thing that we quickly realised was that it’s very unlikely that you’ll find a bookmaker who allows you to cash out your bets after the horse race has begun.
Despite this, there was an interesting amount of variation in how late you could cash out your bets before the start of the race. Some bookmakers allowed you to cash out your bets right before the main event, whereas others stopped the cash out facility well in advance of the race. All of which can be hugely important in terms of how much flexibility you get on your thoroughbred bets.
Which races had cash out facilities?
It was also interesting to see how some bookmakers allowed you to cash out your bets early for some horse races and not others. While you might be able to enjoy a good cash out service for some of the larger races like the Melbourne Cup and the Caulfield Cup, the same service might not be extended to some of the smaller horse racing meetings.
This is why it’s always a good idea to check that a bookmaker has a cash out facility in place before you put down a racing bet. After all, we’ve all put down a thoroughbred bet that we’ve regretted soon afterwards.
You should also be aware of the fact that cash out facilities are operated completely at the bookmaker’s discretion. This means that they have the right to withdraw the cash out option whenever they please. So although a bookmaker states that they have a cash out option for a particular race, they are well within their rights to remove this service as and when it suits them.
How much of your betting stake could you get back?
When you cash out a bet, the amount of your original betting stake that is returned to you will vary in accordance to real-time events. So if you quickly cash out soon after placing a bet, you’ll probably get close to 100% your original sake. But if you leave it longer, you might only get a fraction of your stake.
All bookmakers will use an algorithm that calculates how much of your stake will be returned in correspondence with the constantly changing odds. So we will only recommend those bookmakers who allow you to cash out your bets early, and give you a good share of your original stake back.
How easy was it to cash out a bet?
Cashing out bets early relies on the bookmaker having a website that is fast and responsive. After all, there’s not much point in trying to cash out a bet early if it takes the betting site well over a minute to process your request.
So this is why all of our recommended bookmakers have websites that can process your cash out requests in a swift and efficient manner. Ideally you should have the cash out option clearly indicated on your bet slip so that you aren’t having to navigate an entire website to cash out your racing bets early.
We realise that there’s plenty of debate about who the best online bookmaker for cash out is. But we think that you’ll like what you find if you were to go with any of our selections for the best horse betting sites for cash out. This is because you’ll be given a great way to gain much more flexibility over your racing bets right up until the start of the horse race.
After all, most of us will have put down an ante post bet that we regret. But if you sign up to the best online bookmaker for cash out you’ll find that you are given easy ways to cash your bets out so that you can get another chance to try a more successful racing bet.