When bookmakers introduced the cash-out feature, it instantly became a massive hit among punters. This feature allows you to withdraw money before all the matches from the betting slip finish. By doing so, you can make an early profit, instead of waiting for your bet to settle.
In our review, we’ll reveal our thoughts about the best betting sites for cashing out. We’ll go over the advantages and disadvantages of cashing out and explain how to utilize it best and make a profit.
If you want to find out more about cashing out early, read on!
Cash-out is hugely popular among punters and is now offered on a wide range of betting sites. In fact, the majority of bookmakers have this option. All big sharks in the industry have cash-out and more are coming on board every day.
Below, you’ll find our recommendations for the best betting sites for cashing out. All of these betting brands were evaluated by our gambling experts and are highly recommended.
You’ve probably heard of cashing out, but you might not know exactly how it works. Well, you’re about to find out!
Cashing out allows punters to close a bet early without having to wait for all the matches to finish. As a result, they receive less money compared to what they could get if they waited until all the events were wrapped up.
Depending on the bookmaker, cashing out is subject to different terms and conditions. So make sure to always read the T&Cs before you place a bet. That way, you’ll know precisely what you’ll be getting!
Let’s see how this feature works in practice. Imagine you’ve placed a wager of $20 at +200 on an NBA game. You back the Los Angeles Lakers to beat the Boston Celtics. Winning this bet in a standard way would return a total of $40.
Now let’s imagine the Lakers are up 15 points a couple of minutes before the end of the match. Everything looks great, but you feel the Celtics still have a chance and could make a comeback. You want to play it safe, so you decide to cash out.
Considering that your wager was doing well and there’s not much time left in the game, you’re probably going to get a reasonably good return — somewhere around $35. That means you’ll be sacrificing $5 of your potential profit, but you get paid regardless of the outcome of the game.
This risk-free scenario is only one of the many that made cashing out popular among gamblers. In some cases, you can use the feature to cut your losses; in others, to secure your profits.
There are a few simple rules you need to look out for when using the cash-out feature:
- If your bet is going well, the bookmaker will offer your stake back + a decent profit.
- The cash-out feature decreases your initial maximum win.
- If your wager is failing, the bookmaker will provide less than your initial stake via cash-out.
You have now learned the basics of cashing out. There’s more to consider, however, before deciding whether to use this feature. In the next section, we’ll talk about different types of bets you can cash out on early.
Single Bets
Most betting sites allow you to cash out on both single and acca bets. We talked about cashing out on single wagers in our Lakers-Celtics scenario. The cash-out option comes in handy in situations in which your team is winning but there is a chance they will start losing at some point. It’s better to take some winnings than go home empty-handed.
Multis/Accas
Many bookmakers also allow punters to use the cash-out feature on acca bets for almost all popular sports. You can’t cash out on all games, though, so make sure to check the relevant terms and conditions.
The most likely scenario for cashing out on an acca bet is when you’ve placed an acca with six matches and five of them have already finished and you’ve guessed the outcomes. You’re waiting for the final game but only a few minutes before the kick-off news break that your team’s star player has been injured. This could have a detrimental effect on your teams’ performance, so it’s best to play it safe and settle for reduced profit.
Partial Cash-Out
Some betting sites also offer a partial cash-out feature that allows you to collect some of the winnings but leave a portion of your stake. If you want to close just a fraction of your bet but still remain in play, a partial cash-out is a fantastic option. You can use partial cashing out for both single and acca bets on most betting sites.
Personally, we like the partial cash-out feature because it’s way more flexible than the standard option. Keep in mind that betting sites add a betting margin, so don’t use this feature all the time.
Auto Cash-Out
This type of cash-out is only available on a few betting sites, although it can be a great way to set the limit on your bet. Just select the preferred value and you’ll get an automatic cash-out even when you’re not online
Most bookmakers allow punters to cash out on soccer. However, lots of bookies have added plenty of other sports, including:
- NHL
- NBA
- Rugby
- Tennis
- Cricket
- NFL
- And many more
The number of sports you can cash out on varies from one betting site to another, so do some research to find one that includes your favorite competitions.
Keep in mind that cash-out markets available for each sport can vary from one bookmaker to another. Also, you should know that this feature isn’t available all the time. For certain types of bets, you’ll find that cashing out is not available at a particular time. Every site deserves the right to do this with the cash-out feature.
Here are bet types for which the cash-out option is not available:
- Each-way bets on greyhounds and horse racing once the race has gone live.
- Horse racing pool bets such as placepot and jackpot.
- Multiple bonuses like lucky 15 bets and boosted winnings on accas.
There are no right or wrong choices when it comes to cashing out. Let’s go through the pros and cons before we reach our final verdict. We’ll start with the advantages as there are certainly a couple of reasons why it would make sense to cash out your bets in certain situations.
You Can Secure Big Bucks
In certain situations, you might be getting close to making a considerable profit. For example, you’ve placed a massive bet because you saw fantastic value in a certain betting market. Another example is that you tried an acca with ten selections and you’re actually about to hit all the matches.
The point we’re trying to make is that sometimes there are situations in which the money on the line is too important to risk waiting for another 5-10 minutes. As you know, anything can happen in sports.
To avoid losing such substantial sums right at the brink of closing down, it may be a good idea to cash out. It will certainly ease the burden of waiting for the final minutes and seconds to expire. Not to mention the catastrophic cases in which you lose everything in the last few minutes of the game.
You Reduce the Variance
We’ve all been on the losing end in sports. How many times did your bet look certain, but suddenly the tide turned? The variance that comes with the luck factor in sports betting can be frustrating.
Sometimes, it seems that your cold streak will never end. Losing a couple of solid bets in a row simply because of a late twist can play with your head and cripple your bankroll.
Luckily, you can use the cash-out feature to reduce that variance. You can settle for a slightly smaller amount and prevent a heartbreak. This feature gives you a lot of flexibility when it comes to getting out of a wager.
These are the two main advantages of cashing out. Now, let’s see the downsides of this feature.
You Lose Value
Losing a portion of your potential return is not that bad, considering what’s at stake. The bigger problem with the cash-out feature is that you lose value as well. When you cash out, you’re basically placing another bet on the opposite outcome. Well, you can do the same thing without cashing out and losing value.
For example, you back the Los Angeles Lakers to beat the Boston Celtics with $20 on the price of +200. Your potential return, in this case, is $40. The game starts and the Lakers are leading by 20 points and there’s 10 more minutes to go. At this point, the odds for the Celtics to win would be around +1000.
If you place $4 on those odds, your return would be $40. Since you already have the same gain if the Lakers win, you have invested $24 and will get $40 for a pure profit of $16, regardless of what happens by the end of the game.
What the cash-out feature does is save you the effort of placing a second bet and calculating its potential win. In the scenario above, you would be allowed to cash out on around $36. The result is quite similar, but it’s easier to use the cash-out feature.
The downside of cashing out is that it comes with the applied betting margin of the bookmaker. In our Lakers-Celtics example, the real value of your bet wouldn’t be $36 but $36.70 or more.
By using the feature, you lose $0.70 of the value — this is the betting margin of the sportsbook. This is why cashing out may not always be the best option.
You should not ignore the reduced variance and the flexibility that comes along with this feature. Here are some scenarios in which cashing out might come in handy.
- Huge profit available — If the potential winnings are substantial, cashing out makes a lot of sense. If you’ve placed a huge wager and there’s a massive offer available, there’s nothing wrong with playing it safe.
- Good value offer — If you think that there is a decent value in the return you get, you should go for the cash-out. For example, if your team is leading but playing inconsistently, a solid return can be worth it.
- You need to end your cold streak — Your morale can go down after losing a few consecutive bets. Cashing out to get some easy wins might just be what the doctor ordered.
What is a cash-out?