Like most online bookmakers, Coral are working hard to give their customers great flexibility and that’s why they’ve recently got on board with the concept of cashout. By allowing punters to collect a profit before their event comes to a natural end, they have allowed account holders to stake with just a little more confidence.
How it Works
Essentially, cashout allows a bettor to collect a reduced return on their bet while the event is still in progress. As an example, let’s say you’ve staked £10.00 at Even Money on football team A to beat football team B and team A is ahead by one goal to nil with five minutes to go.
However, you’re not confident that your side will hang on to their lead and would therefore like to collect before the final whistle. Your bookie, if they employ cashback, should allow you to do this but naturally when you do cash out, you will receive a return at a reduced amount from that initial Even Money figure.
Coral employ this basic principle and they also use a popular feature known as partial cashout so what specifics do you need to know if you’re taking cash out with this particular bookmaker?
Coral apply a full cashout scheme for three particular scenarios: firstly, there is the most popular option that we’ve mentioned above as you find that your bet is winning and you want to take some money before the event is actually settled.
Secondly, Coral will also allow you to employ cashout when your punt is actually losing. This gives you the option to get back some of your stake if you think you’re likely to lose all of it when the event comes to an end.
The third scenario relates to multiple bets and here, you could withdraw a profit if the first phase of betting has been successful and you don’t want to wait until the final legs are run.
To claim any of these, log into your account in the usual way and then click on your bets. Under the unsettled bet selection you will be able to find a button that says ‘bets that I can cash out’. Coral will then show the amount of money that you will receive and you then have a simple decision whether or not to accept it. If the figure is acceptable to you just click on the relevant button and the money will be deposited straight into your account.
As the name suggests, partial cashout allows you to take some of the profit while allowing the rest of your bet to ride on to its natural conclusion.
Once again, a partial cashout can apply to any of the three scenarios listed above so, the first step is to log on and take a look at your open bets. Coral will then show you which ones are available for a partial cash out and you will find a slider tool which shows you exactly how much of a return you can take.
Again, simply click the button in order to accept and you will take some element of cash while allowing the rest of your bet to run until its previously scheduled finish.
Not all types of bets are available for cashout with Coral so, if this concept is important to you, do check on their dedicated cash out page to see which ones are applicable. For example, in tennis, you can only cash out if you have placed bets in the Match Betting, Set Betting or Set Winner markets while in football the list is a little more extensive.
Overall however, there are still plenty of options in a form of offer which gives you greater control of when you want to end your bet and still take a profit.