Many Bookmakers have been known to pay out early on bets placed on an event that they deem to be as good as over. The concept is that the race is run so there is no need to wait any longer. Some bookies even offer a regular promotion where if a player or team go a certain distance ahead of their nearest challengers, then they will payout automatically.
Both bet365 and Paddy Power offer promotional automatic early payout offers. These promotions work by paying out early if your team goes two goals ahead. From there, it doesn’t matter what follows, your full payout is secured. There have been occasions when, rightly and wrongly, bookmakers have deemed an event to be over before it has finished and paid out early. This has, on occasions, backfired on the bookies badly as you will read below.
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How Early Payout Betting Works
Early payout betting, NOT to be confused with early cash out betting, is where you place a full-time result bet on an eligible event and if your selection goes ahead by a pre-designated amount, your bet gets marked down as a winner and you get paid before the event has finished. Because your account has been credited with your winnings already, anything that then happens during the rest of the game will not affect or apply to you.
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Early Payout vs Cash Out Option
When we said, do not confuse early payout betting with early cash out betting, we meant it. These are two entirely different bookmaker promotions. Firstly, cashing out is entirely your call and bookies will offer it to benefit both you and them. Sometimes, cashing out early can save you losing a fortune, other times you might cash out and the event swings back in what would have been your favour if you had stayed in the bet. When bookies are paying out early, it becomes automatic if that is the bet you placed with them. Plus, it gets paid in full so you wouldn’t have won any more had the bet stayed in play throughout its appropriate event.
Why Bookmakers Payout Early
From the bookie’s point of view, there is a clear and obvious reason to pay out before time and that is to shut the book down and eliminate any further bets being placed. It is only natural that if they are really sure of the result, they might not want any more bets to be placed on the favourite. Refusing to accept bets outright is bad for publicity, which is another determining factor. Even though they are aware that paying out early on a bet that goes on to become a loser will likely prove to be very expensive, it is still preferable to getting negative publicity, especially in such a competitive market place. Absolutely any negative publicity will be seized on by the media which would then paint them in a poor light to punters. Also, if a bet is certain to be a winner, then it is well worth returning any money back into the accounts of bettors as soon as possible given that many bettors will simply reinvest it.
Why Punters Like Early Payouts
The main reason that punters appreciate early payouts is that it is a guaranteed insurance on their bet, providing that their pick goes ahead by the required amount of course. Without this release clause, should your pick go ahead by such an amount before blowing that lead, then you will of course lose your bet. However, once you insert this promotion, then the payout is automatically applied as soon as that distance is established by the leading team or player in whichever event you are betting on.
The Best Sports For Early Payout
There are many sports that bookmakers will apply early payout offers to, four of which we have outlined below.
Naturally, the most wagered on sport in the world is one where early payout offers are included as standard at certain online bookmakers. Both bet365 and Paddy Power offer this promotion and both will apply the offer the very second your selection takes a 2-0 lead at absolutely any point in the match. It doesn’t matter what happens in the remainder of the match, your bet gets paid out in full even if your selection goes on to draw or lose. bet365 even apply their offer to accas, something which Paddy Power, at the time of writing at least, do not. This offer is available for bets on English Premier League, English Championship, FA Cup, League Cup, Spain’s La Liga, Italy’s Serie A, Germany’s Bundesliga, UEFA Champions League Group Matches and UEFA Europa League Group Matches.
At many bookmakers, the NFL comes with a wide range of betting promotions that includes the early payout offer meaning NFL bettors are able to access their winnings before the final result of the match has been settled. As with football, there is a distance that needs to be obtained in order to activate the payout and, at bet365 for example, that distance is 17 points. So, if your team goes at least 17 points clear at any point in an NFL contest, that online bookmaker will pay you out as a winner regardless of whether or not your team go on to win the match in question or not. It is also worth mentioning that this offer applies to both multiple bets and single bets.
In rugby’s Six Nations, bettors at some online bookmakers can enjoy an early payout offer. Like other sports, there is a threshold that must be breached in order to trigger the repayment which in this case is 10 points. This means that you will get your bet marked down as a winner so long as the team you back goes 10 points ahead. Bets will work on pre-match result singles for any Six Nations match and pays out nice and early so long as your pick establishes a 10 point lead meaning that it matters not if that team, be it England, Scotland, Ireland, Wales, France or Italy, sees that lead pegged back or overturned by the opposition.
In NBA basketball matches, bettors can once again enjoy early payout offers on straight to win wagers where you back a team to win.Your team doesn’t actually have to win the game of course, that’s not how these betting offers work. Instead, they simply need to establish a 12 points lead at any stage in the contest and you get paid out as if they won, even if they go on to lose or draw the match. Not only can you access your funds instantly, but such a promo also eradicates the stress of watching your chosen team clinging onto a lead in the last few remaining minutes.
When Paying Out Early Goes Wrong
Of course, there have been occasions when bookmakers have been caught out and wrongly paid out prematurely only to be left with egg on their faces. What’s worse, is that these occasions all occurred before these offers were in force, meaning those bookies made the decision themselves that the contest was over when in reality it far from concluded. Take a look at these examples below.
Betfred or Dead
Way back in 1998, Betfred, then Done Bookmakers, decided that that season’s Premier League campaign was as good as finished when they paid out ahead of time on Manchester United winning the league. To be fair, United were 12 points clear at that point but the bookie’s boss Fred Done had ignored the fact that Arsenal had three games in hand at the time. It was a detail he ignored at his peril however as The Gunners did indeed manage to snatch the title from United, resulting in a £500,000 loss for the bookie. Not that he learnt his lesson. In 2012 they once again paid out early on Manchester United being crowned champions only to see Manchester City win it in the last minute of the season, and in 2020 gave an early pay out to anyone who backed Liverpool to win that season’s title.
Paddy Get Trumped
Not all early payout mistakes are sports related. In 2016, Paddy Power were left red faced after making the decision to pay out early to all their punters that had backed Hillary Clinton to win that year’s US election. Their wrong move was in part motivated by a series of negative news stories that falsely threatened to derail Donald Trump’s campaign. But, in the end, the bookmaker had been hit for more than £4 million by punters who’d backed Trump to win instead. Paying out on bets on both outcomes proved to be biggest political pay-out in the company’s history leaving Paddy with an extremely expensive egg on their face.
Early Payout Explained FAQs
⚽ Are Early Payout Offers Available on all Sports?
No, there will be some sports that, for obvious reasons, are unsuitable for such an offer.
🎰 Does it Work For All Bets Though?
No, this offer will not work in conjunction with other offers. So, if you have used a price boost for example, then early payout will not apply.
💰 How About HT/FT Bet Types?
No, this offer is for pre-match singles and, at some bookmakers, accumulators only.
💳 What About if I Partially Cash Out Early, Will Early Payout Work on The Remaining Part of my Bet?
Again, no. Your remaining wager will be settled as normal.
💶 Is There a Maximum Stake?
There can be, yes. However, this varies from bookmaker to bookmaker so check the Ts’ & C’s beforehand.
ThePuntersPage Final Say
Early Payouts are a way for bookies to offer another promotion and one that fans will enjoy. We all know the feeling, watching our favourite team race into a lead only to let that lead slip at the last minute. But, with early payouts that frustrating feeling has been eliminated for bettors who can now enjoy the feeling of a satisfying win once a certain lead has been established without having to worry about what the final result will bring.