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EV Cashout Explained: How It Works, Is It Worth Taking?

Dominic Field

Jun 21, 2023

Introducing EV Cashout

Bad beats are a frustrating part of poker, but EV Cashout at Natural8 is here to help. In our guide, we will explain what this innovative feature is, where to find it, and how it works. Then we’ll look into who might benefit the most from using it.

Ready to learn all about EV Cashout? Then let’s get started!

What Is EV Cashout?

First of all, we’d better explain what EV Cashout in online poker is. Launched in April 2022, this feature replaced the old All-in Insurance that was once found at the Natural8 tables. It is still a form of protection against bad beats, but it comes in a slightly different flavour.

If your hand meets specific conditions, you'll have the opportunity to buy your way out of the hand. EV Cashout is all about your hand's Expected Value, which is basically the equity you have at that time. If you accept the offer, you'll get that amount no matter if you end up winning or losing the pot.

Where Can I Find It?

EV Cashout is available in all Natural8 cash game formats except for AoF (All-in or Fold):

  • Hold’em

  • PLO

  • PLO-5

  • Rush & Cash

  • Short Deck

How Does EV Cashout Actually Work?

The EV Cashout feature comes into play when you find yourself all in on the flop with at least one opponent. In addition, there should be at least 200 big blinds in the pot. After the hole cards have been revealed, the EV Cashout is calculated, and all players with at least 60% equity will be offered an EV Cashout deal.

If you elect to take the offer, that’s how much you’ll win. It doesn’t matter if you go on to win the hand, because accepting the EV cashout value forfeits the rest of the pot. But naturally, should you lose, the blow of the bad beat will be softened by the fact that you still won something!

You don’t have an unlimited amount of time to decide whether or not to accept the deal. Taking too long would slow the game down excessively. So you’ll have to think fast about whether or not to bank your EV cashout offer.

Payout Calculation Explained

The cash out calculation is actually quite straightforward:

EV Cashout = Equity * (Pot Size - Rake - Jackpot Fee) 

Let’s say there is $50 in the pot while paying at the $1 / $2 No Limit Hold’em tables. Since that is 25 big blinds, this pot qualifies for EV Cashout. Subtracting the 5% rake of $2.50 leaves $47.50. To keep things simple, we’ll forget about the jackpot fee.

Now let’s imagine you’re expected to win the hand 75% of the time. Your 75% equity is multiplied by $47.50 to give $35.63. That would be your EV Cashout offer in this theoretical example. It’s now up to you whether to bank that amount or run the risk of suffering a bad beat!

Cashout Fee

If you choose to accept a cash out offer, a 1% fee will be charged. You can calculate your actual winnings after deductions by multiplying the original offer by 0.99, or 99%. To continue the above example, that produces a final figure of $35.27.

Miscellaneous 

As you’ll know, it’s possible to have side pots when players are all in. If that’s the case, your EV cashout offer will combine all of the eligible pots together to keep things simple. 

If the pot is heads up, the underdog will not receive a cash out offer. However, they can still opt to run it more than once.

Finally, it’s worth mentioning that EV cashout has no bearing on the Bad Beat Jackpot. You still stand to win your share, should you qualify, even if you cash out of the pot early.

Is EV Cashout Worth It?

Determining whether EV Cashout is worth embracing depends on your playing style and preferences. Consider the following factors:

  • Equity and Pot Size: The EV Cashout feature becomes more appealing when you possess higher pot equity and encounter a substantial pot size. It's an enticing option for safeguarding your equity against potential bad beats.

  • Mitigating Bad Beats: EV Cashout provides an effective shield against bad beats, enabling you to minimise the emotional impact and potential tilt that can lead to poor decision-making. If you value stability and emotional well-being during your poker sessions, EV Cashout can be a valuable tool.

Conclusion

EV cashout is an interesting concept found at Natural8. Its purpose is to protect you from bad beats and it replaced the old All-in Insurance feature in April 2022. Not everyone will see the benefit of taking a cash out offer. But if you’re prone to tilt or emotional swings, it can be a real blessing.

If you’d like to see how EV cashout works for yourself, register at Natural8 today. You can experience this innovative feature in Hold'em, Omaha, Short Deck cash games, and even at the Rush & Cash tables.