Guide
Gambling

What is Cash Out in Betting?

Cashing out a bet is a popular concept. We break it down for you with an exaplanation, reasons, and pros and cons.

Alyx Tzamantanis.
A. Tzamantanis

Last Updated: 2024-05-17

James Pacheco

5 minutes read

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Have you ever wanted to collect your winnings on sports betting before the end of the match? If so, cash out betting might be for you!

Today, we’re going to answer the question ‘what is cash out in betting’? We’ll tell you how it works and why it might be a good option for you. We’ll also explain when is best to cash out and the various pros and cons of this type of betting strategy.

Cash Out Meaning in Betting

Put simply, ‘cash out’ is a feature offered by many bookmakers that lets you settle your bets before the conclusion of an event.

It’s a cool and innovative feature that comes with many benefits, but it isn’t the right tool for everyone. So take time to consider if cash out betting is the best choice for you. 

How Does the Cash-Out Feature at Bookmakers Work? 

When you place a bet on an event, whether it’s on a horse race or a football match, the bookmaker will offer you the option to cash out your bet at certain points during the event.

The cashout amount is determined by a combination of factors, including the original stake, the current odds of the bet winning, and the likelihood of the event occurring.

Be aware that not all bookmakers offer cashout, so it’s important to check with customer services first if you want to use this feature. 

Reasons to Use Cash Out Bet

As mentioned, there are various perks to using using cash out betting. So let’s take a look at some in a little more detail.

You can lock in profits

If your bet is currently winning but you're concerned that the tide may turn, cashing out allows you to secure a profit before the event concludes, regardless of the final outcome.

Minimise losses

If your bet is losing, cashing out may allow you to minimise potential losses by recouping a portion of your original stake instead of losing the entire amount.

When to Cash Out in Betting

Depending on what sport you’re betting on, there can be some optimal times to cash out your bet.

  • During in-play betting: Cashout is particularly useful for in-play or live betting, where odds and circumstances can change rapidly during the course of an event
  • When you have an uncertain outcome: Consider cashing out when the outcome of the match is uncertain and you want to secure a guaranteed return rather than risking a loss.

Pros and Cons of Cash Out in Betting

Pros of cashout betting

  • Cashout lets you manage your risk by securing profits or minimising losses before the conclusion of an event
  • It provides flexibility to adjust betting positions based on changing circumstances during a match or event
  • Cashout offers the opportunity to lock in guaranteed profits, especially when the original bet is in a winning position
  • It provides peace of mind by ensuring a positive outcome regardless of the final result of the event
  • Cashout empowers you to make strategic decisions based on real-time information and market dynamics

Cons of cashout betting

  • Cashing out may result in receiving less than the potential winnings if the event ends up going in your favour
  • It can lead to missed opportunities for higher returns if the original bet would have won without cashing out
  • Cashout offers can fluctuate throughout the event based on changes in odds and game dynamics, making it challenging to time cashouts optimally
  • Some bookmakers may charge fees or apply penalties for using the cashout feature, reducing the overall profitability of the bet

Some sports and markets work betting than others with cash out bets. So let’s take a look at some of those. 

1. Football (Soccer)

  • Match result: Betting on the outcome of a football match, including win, lose, or draw
  • Over/Under goals: Betting on the total number of goals scored in a match
  • Both teams to score (BTTS): Betting on whether both teams will score at least one goal in the match

2. Tennis

  • Match winner: Betting on the winner of a tennis match
  • Set betting: Wagering on the correct score in sets or predicting the winner of a specific set
  • Game handicap: Betting on the number of games won by each player, with a handicap applied to one player

3. Basketball

  • Moneyline: Betting on the winner of a basketball game
  • Point spread: Wagering on the margin of victory, with a handicap applied to the favourite team
  • Total points: Betting on the total number of points scored in a basketball game

4. Horse Racing

  • Win/Place: Betting on a horse to win or finish in the top places (usually top 2, 3, or 4)
  • Each way: Combining win and place bets into a single wager
  • Forecast/Tricast: Betting on the exact order of finish for the top two or three horses in a race

5. Cricket

  • Match winner: Betting on the outcome of a cricket match, including win, lose, or draw
  • Top batsman: Wagering on the player who will score the most runs for their team
  • Total runs/wickets: Betting on the total number of runs scored or wickets taken in a cricket match
     

If you want to learn more about betting on sports, make sure to always come to us here at SportsBoom. We’ll keep you up to date with our news, reviews and guides. 

Alyx Tzamantanis.
Alyx TzamantanisSports Betting Editor

With 10 years of experience in content writing, Alyx has produced countess guides, reviews and articles covering a wide range of topics in the iGaming industry. She loves anything to do with online casinos, as well as UK and international sports betting.