Online Betting / Betting Guide / Cash Out Betting Guide: How Cash Out Works in Betting in 2024

Cash Out Betting Guide: How Cash Out Works in Betting in 2024

James Leeland
Editor
Fact checked by: Jim Knight
Publish Date: 10.04.2024

Every bettor can appreciate a contingency plan. A bet that seemed like a good idea at the start just doesn’t seem so smart now. However, when you’re using the cash out strategy, that problem can be solved.
This strategy gives you the ability to prematurely cash out of bets that may not be going your way, at certain points in the game/match. We’re going to cover everything you need to know about cashing out early and why it might be a good part of your betting strategy, so read on to learn more.

Every bettor can appreciate a contingency plan. A bet that seemed like a good idea at the start just doesn’t seem so smart now. However, when you’re using the cash out strategy, that problem can be solved.
This strategy gives you the ability to prematurely cash out of bets that may not be going your way, at certain points in the game/match. We’re going to cover everything you need to know about cashing out early and why it might be a good part of your betting strategy, so read on to learn more.

What is Cash Out Betting?

First off: What is the meaning of cash out betting? It involves strategically using the cash out option available on most betting sites. Essentially, when you can ‘cash out’ of a bet, it means you can opt out of a bet early to regain some or all of your stake.

The amount you get back on your bet depends on a number of factors:

  1. Which betting site you are using and how flexible they are with their cash out options.
  2. How late you are into the event and if the event is nearing completion; generally, the closer the event is to ending, the less money back you will receive.

Let’s take an example. Let’s say you were betting on a Manchester City and Liverpool game, and you backed Liverpool. By half time, it was a draw, and perhaps you wanted to cash out your stake. Usually, at half time, using cash out at betting sites will allow at least a 50% cashback, if not more. However, if you were to attempt to cash out 80 minutes into the game, most will offer less than 10% cashback, if at all.

Types of Cash Out

There are two major types of cash out betting that you might encounter at a sportsbook, and you might even see both options available on the same site.

  • Full Cash Out – Full cash out betting is when a sportsbook offers you a full cash out before your bet is settled. Some sportsbooks will usually offer this at half time, or during some kind of break during the sport you are betting on.
  • Partial Cash Out – A partial cash out is when you can cash out a fraction of your initial wager, while the rest of the wager stays on and is settled. Usually sportsbooks will offer anywhere from 10-20% partial cash out for these kinds of bets, but you have far more flexibility on when you can cash out the bet.

Tips to Make the Most out of the Cash Out Function

It’s tough to plan for a cash out strategy, as it is an ‘in play’ function. However, we can give you a few tips we found are helpful.

Choose a Sportsbook with Flexible Cash Out Options

Cash out is not available to the same degree at all sportsbooks; in fact it’s not always an option in the first place. Thus, the first step is to find a bookie that includes the feature, and the next step is to analyse to what extent they provide it to its users.

We have found that Bet365 have the most flexible cash out option out there, meaning you can cash out fully at half time, and there’s full customisation on your cash out options. Bet365’s Partial Cash Out also allows you to partially cash out as much of your stake as you wish, and leave the rest on your original stake. In our experience, using the cash out at Bet365 is simple, and their platform implements it to the best of its ability. This makes them one of the best cash out sites out there. Whichever site you use, make sure they can provide these options for you.

Don’t Use Cash Out Rashly

Another tip in this cash out betting guide to make the most out of the cash out option is not to be so quick to hit the cash out button when a bet isn’t going your way.

Be calculated in your approach to cashing out the bet. Does this team have a good record against their opponents? How do they perform in the arena they are in? Does it seem like the weather is affecting them? Is the referee showing clear bias one way or another? These are all questions you should ask yourself when you are thinking about cashing out.

If all these questions seem to have an answer you don’t like, then you should trust the facts and your gut, and cashout when the option becomes available to you. But just remember that you placed your initial bet for a reason. Sometimes you have to trust the process, no matter how tempting that cash out button can be. Patience is what makes winning bets, not rushed decisions.

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What Markets Can I Cash Out My Bets on?

Cash out at betting sites is a great concept, but depending on the platform, there might be limitations. Below you’ll find the most popular sports and their betting options where cash out options will be available to you.

SportCommon Cash Out Markets
Soccer (Football)Full-Time Result, Double Chance, Correct Score, Half-Time/Full-Time, Goals, Under/Over, Both Teams to Score, Goal Scorers, Multi Scorers, Asian Handicap, Result/Both Teams to Score, Handicap Result, Winning Margin, Scorecast, Wincast
Horse RacingWin Only, Betting Without, Cover Bet, Selection to Win, Selection to Place
American Football (NFL)Game Lines, 1st Half Lines, 2nd Half Lines, Winning Margin, Double Result, Result and Total, Race to (Points)
RugbyHandicap, Result

Bet Types that Don’t Allow Cash Out

There are a few different bet types that you cannot cash out, meaning that the cash out strategy is unfair or unusable across all sportsbooks with these types of bets.

Some of those include:

  • Free Bets – Most free bets that come with signing up for a sportsbook or in any other kind of promotion won’t be eligible for any kind of cash out. This is due to them being credits, and not considered actual currency, until they are turned over.
  • Enhanced Bets – Any kind of enhanced bet, whether it be enhanced odds, enhanced multiple bets or any kind of boosted wager or odds, are generally not eligible for cash out. This is to prevent any manipulation of the enhanced odds/bets.
  • Each Way Bets – Each way bets will never be eligible for cash out. This is because it would be too easy to make a profit doing this.
  • Horse Racing Pool Bets – These types of pool bets will also never have the cash out option available to them. This is because pool bets involve multiple people pooling in to wager on the one horse, and one person utilising a cash out option can jeopardise everyone else in the pool.

The Benefits of Using A Cash Out Strategy

There are actually many reasons why cash out betting sites are so valuable, and it’s not only just to get yourself out of a bad bet. It can be used strategically, and carefully, if you use it wisely. Here’s a few benefits to keep in mind.

🔄 Flexibility

The first, and most obvious reason, that it’s such a valuable strategy is the complete flexibility it gives you. It’s a safety net you know is always there, when a bet goes badly.
As soon as you place your wager, at any point during the game, you can remove that wager, or in some cases, partially cash it out, and walk away with what you came in with, or even more than what you betted, before you’ve even seen your bet through. It’s the most flexible strategy when betting online, and nothing else comes close.

🛡️ Risk Mitigation

Cash out is a function that is easily manipulated to your advantage, for many different functions. Of course, the obvious is risk mitigation. It minimises your risk of walking away with nothing at all, and even if there’s only a partial cash out available to you, you’re still getting some of your money back. In the case of a full cash out, you might even be able to lock in a small win.

🛠️ Accessible Tool

This is another great example of a sportsbook providing players with tools that they can actively use when they are betting. It’s not just blind betting, and hoping for the best. Cash out options means that you can keep on top of your bets and alter accordingly. It’s a tool that players can rely on for some of their bets, and it can make a world of difference to their overall betting experience.

The Disadvantages of Cash Out at Betting Sites

Cashing out can be a great contingency plan for when things go wrong. However, it doesn’t act completely like a get out of jail free card, and we feel it’s important to cover some of the pitfalls of using cash out betting as a strategy.

🚫 Not All Bookmakers Allow Full Cash Out

First off, it’s important to remember that many sportsbooks won’t allow you a 100% cash out when that function is in play. Partial cash outs will often be in play, and even at that, you can be limited as to when you can cashout that partial stake. Of course, the best online bookmakers, like Bet365 for example, offer 100% cashout in some cases, but just keep in mind in most cases, you won’t be able to get your original stake returned to you. Some of your stake will remain on the bet.

💔 May Lead to Emotional Betting

Another pitfall is that the cash out function, in principle, can easily influence more emotional and less experienced bettors. It feels like an option to avoid the consequences of a bet going wrong, making many jump ship before they should.

Of course, more rational bettors will know to use the cash out option only when necessary, but many bettors may just cash out prematurely, which can lead to major disappointment when their original bet turns out to be correct. It can be somewhat of a dead man’s switch, and there can be better alternatives, such as simply hedging your bets. However, cashing out is still valuable when you approach it like any other betting strategy and not like an in play function.

Sportsbooks that Offer Cash Out

There are some great cash out betting platforms available to you as the bettor. However, you might find that some bookmakers do not have cash out available to them. We have put together a short chart, which shows you which of the top bookmakers has cash out available.

PlatformIs Cash Out Available?
Betway
1xBet
William Hill
Betfred
DraftKings
Fanduel
Caesars
Ladbrokes
GG.bet

Cash Out Is A Useful and Flexible Strategy

We believe there is no better strategy than the cash out strategy. It is completely flexible, helps you get the most out of your wager, and it’s available across multiple different types of bets. Single bets, parlay bets, and accumulators, a valuable sportsbook will have multiple cash out options on their platform.

Sometimes, using the right strategy can make all the difference to your betting choices. It’s a tool that is so easily accessible, and flexible, that it is all about the timing on how you use it. It’s a fun strategy that gives you an additional layer of protection while you bet.

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Cash Out Betting FAQ

❓ What is cash out in betting?

Cash out in betting is the process of withdrawing your wager before the bet is settled, in order to minimise your losses, or to walk away with a small win while the game is going your way.

💰 How is a cash out calculated?

Your cash out winnings are calculated based on the score of the game at the time of cashing out, as well as the current odds if the bet was placed at the time of cash out.

🏧 Will there be fees on my cash outs?

Cash out betting is cashing out your bets from a wager back to your sportsbook wallet. There’s no fees on these transactions.

⌛ How long does a cash out take?

Cash out will generally be instant. Once you decide to cash out your wager, your betting balance is usually topped up with that amount immediately.

💲 Can I win from a cash out strategy?

If you use the cash out strategy correctly, and time it right, it is possible to win with a cash out strategy. It’s all about how you use it and as with all betting, you are equally likely to lose.