What is Cash Out?
Cash Out is a feature that allows the bettor to settle a bet before the event is over. The payout will be less than a winning bet at the end of the event but is also a way to manage risks. Accepting a Cash Out offer can sometimes be very beneficial, especially if it’s a risky bet with high odds. There are mainly two scenarios for when bettors choose to Cash Out.
- To take partial winnings of a wager that looked good early on but now is a lot more uncertain.
- Limit your losses on a bet you will almost certainly lose.
Let’s look at an example. Let’s say you’ve staked $100 on Manchester City to beat Liverpool in the Premier League. Going into the last 10 minutes, the score is 1-0 to Manchester City. At this point, you may be offered a Cash Out option. You, therefore, have two choices: either Cash Out and take the money that’s currently on offer or ignore the offer and see the game out.
The first option ensures you get money, but that sum would be less than the sum you’d get if Manchester City gets through to the full-time whistle with their lead intact. The second option would deliver more money for a win, but there is also the risk that Liverpool could steal an equaliser or even a winner, and you would lose the bet and end up with nothing.
When is Cash Out offered?
Since Cash Out is a way to settle a bet on an event before it’s finished, the offer to Cash Out is only available for an ongoing event. If the event that is bet on is a single bet, you may Cash Out for the duration of that game. If the event is a parlay, Cash Out is available until the last game of the parlay is finished. If a bet lasts for an entire season, such as who will be NBA Champions, the Cash Out may be available for the duration of that season.
How is Cash Out calculated?
Cash Outs are calculated just as a sportsbook would offer odds on any type of wager. The sportsbook will determine a price based on various factors and offer this price to the bettor. With a Cash Out, the price is what the sportsbook determines as the current value of the wager. With single bets and Asian handicap wagers, determining the value of a bet can be fairly straightforward. For parlays and futures, things can get a little more complicated. Parlays may have multiple legs of the parlay left to go, making it hard for a bettor to decide if they should take the Cash Out or not. With futures bets, there is often an extended period remaining, and plenty can happen during that time.
When is Cash Out unavailable?
Cash Out might become unavailable for several reasons if you bet on a sport. A vital change in the sport will mean the cash out is inaccessible while the new Cash Out offer is generated.
This can be anything from goals, cards, substitutions, horses being removed from a race or falling midway through. It might also have to do with your account, as the sportsbook will regularly check to ensure the bets comply with their regulations, so Cash Out may be removed.
Is the accepting of Cash Out final?
Yes, when a bettor accepts a Cash Out, and it’s accepted, the wager is then settled at the confirmed price. There is no going back to the sportsbook to try and get the maximum value of the original bet if you accepted a Cash Out offer.
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