I would say that you can build a strategy around cashing out, but you need to know the game thoroughly and want to look for especially volatile games. It helps if you are watching a match, football for example, and feel like the underdog is playing particularly well and the dominate team is making a lot of mistakes. If the odds are favorable, you might want to take a bet that the underdogs will win - hope they manage to get a goal in the next - and you would most likely get a very generous cash out offer. I've had an opportunity like this in the past, but the key is to cash out, because once the underdog gets ahead you can find the dominate team will have a fire lit under them and fight even harder to level up and then overtake.
Not really a strategy since it becomes available only if the underdog really starts playing good and the favorite bad, so you have no idea of knowing this before hand.
The reason I'm using it with racehorses I because I pick horses that I know run very fast at the start, and like to lead but also half of the time they over exhaust themselves and run out of gas, in this type of bet I don't need to take into account what the other teams is doing, it's a bet on a single thing, in football I wound;t take this risk because the top team might score in the first minute and the bet is done for!
A casino not being straightforward as a result of the available cash out to give to an event solely depends on the likely outcome of that particular event because if it involves a game that has the chances of playing accordingly but due to fear of the unknown can make you decide to cash out such bets, Sometimes, the cash out amount is manipulative because some matches can be playing as predicted but the cash out amount can be lower than if that event was not included in your game.
What do you mean by cashing-out on an event that isn't in your game, how is that even possible?