Cashing Out

Cashing out gives you the chance to take away the stress of watching your team in the final few minutes of a football match when you are so close to a winning bet, or the opportunity to claim back some of your stake when it becomes apparent that you are going to lose.

Cashing Out Cashing out gives you the chance to take an early return on a bet, but the amount will often be less than a full win.

It is a relatively new tool but is now offered by many of the top sportsbooks, allowing you to make decisions before the bet has been resolved. This is a great way of either protecting a winning bet or saving some money from a losing bet.

Traditional sports betting involved placing a wager and then not being able to do anything until the event had been completed and you found out whether you had won or lost, but the option to cash out has been revolutionary for many punters due to the extra control it gives you over your bet.

Examples

  • If you have a bet on Leicester to win the Premier League and they are top of the table with ten matches to play, you might decide to cash out your bet rather than waiting until the end of the season, which carries the risk that they will be overtaken.
  • If you have bet on England to beat South Africa in cricket’s World Cup final, but they slip to 30-5, you might decide to cash out your bet and retrieve some of your stake rather than waiting until the end of a match which is likely to end in defeat.
  • If you have bet on a six-fold accumulator and the first five selections all win, you might decide to cash out before waiting to see how the final event turns out so that you can walk away with something instead of nothing.

Cashing out is not available on every single bet, but it is an option which is usually offered across many different sports. Having become increasingly popular over the past few years, sportsbooks are also looking for news ways to improve their cash out features.

One choice offered by some bookmakers is for partial cash out, where punters can take out some of their winnings but leave the rest of the stake on the original bet. This guarantees a return but also gives you the chance to win the initial selection, and you will typically be able to decide on the percentage of the bet you wish to cash out and how much you would like to keep in place.

If you have placed a bet which offers cash out, there will be a value clearly showing you how much you stand to win or the extent to which you can limit your losses. The appeal to bettors of cashing out is therefore obvious, as it provides extra flexibility, but it is also a very worthwhile tool for sportsbooks.

Why Do Sportsbooks Offer Cash Out?

As well as wanting to have a feature which attracts more customers to their website, operators can use the cash out option to their own advantage. By giving punters the chance to cash out when they are on their way to winning a bet, bookies are minimising their losses.

The cash out value is always determined by the odds on the specific selection and how much was staked originally, both at the time of the initial bet and at the point of cashing out, and sportsbooks calculate figures to ensure they will remain in profit.

  • For example, you might place a bet of £10 on Chelsea to beat Manchester United at pre-match odds of 2/1. If Chelsea take a 2-0 lead before half-time, you find that the cash out value is £20 and decide to take the money to avoid a nervous second half. However, the bookies have worked out that Chelsea would go on to win 80 percent of the time from a position of 2-0 up at half-time, meaning they could expect to pay the full £30 return on 80 percent of occasions. As 80 percent of £30 is £24, the cash out value of £20 is saving the bookie money.
  • If Chelsea were 1-0 down at half-time on the same bet, you might want to limit your losses by cashing out at a value of £4. However, the bookies have calculated that Chelsea would come back to win 15 percent of the time from a position of 1-0 down at half-time, meaning they could expect to pay the full £30 return on 15 percent of occasions. As 15 percent of £30 is £4.50, a cash value of £4 is saving money for the bookie.

While bookies are happy to offer cash out in the knowledge that it will help to drive business while making them money, the power it gives to customers is an enormous attraction and there have been some big winners who have benefited from cashing out.

Cash Out Success

On Boxing Day 2015, a Sky Bet punter picked out a ten-fold football accumulator and successfully predicted the results of the first nine fixtures. In the tenth match, they had backed Newcastle United to draw with Everton and it was 0-0 until just before the final whistle, when a Tom Cleverley goal won the game for Everton. Luckily for the punter, they had cashed out just moments earlier to snap up £10,000. Had it not been for this option, they would have won absolutely nothing.



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