Cash Out is a vital service offered by sports bookmakers that allows players to settle their bets before the corresponding event officially ends. This feature is essential for building alternative tactics and making in-play betting more attractive.
The primary purpose of the Cash Out feature is to protect potential winnings or reduce losses if a bet does not appear to be going as expected. When utilizing this service, bettors might choose to receive earnings smaller than their potential payout without further risk, or they might cut losses entirely. It also allows bettors to recoup some of their starting stake and place another bet.
What Does Cash Out Mean in Betting?
Cash Out is a mechanism that allows you to take money back from your wager while the game is still active. The feature provides immediate offers based on the current odds.
It is important to read the bookies’ terms and conditions carefully to understand the exact meaning of Cash Out and how to maximize its benefits. The service is offered in different variations: full, partial, and auto.
The Four Ways to Use Cash Out
There are four recognized ways to utilize Cash Out, applicable both pre-match and in-play:
- Full Cash Out: This is the classic and most popular type, suitable for both beginners and advanced players. It allows you to close the entire wager and take back a portion of the potential winnings or the original starting stake. It can also be used specifically to minimize losses.
- Partial Cash Out: With this option, a player receives only a part of the potential winnings while keeping the remainder of the bet open. The specific amount to be kept open is adjusted using a slider.
- Auto Cash Out: This type involves pre-setting a target amount you wish to earn. When the bet reaches or exceeds this selected limit, it will be automatically closed, either in full or partially.
- Edit Bet: This feature allows bettors to modify their wager by adding, swapping, or removing selections, changing the initial betting type, or increasing the stake. If successful, the new wager’s odds are updated to reflect the current prices.
How Is Cash Out Calculated?
Understanding the calculation behind Cash Out is crucial to evaluate if the offered value is fair. The calculation is generally based on the initial wager, the starting odds, and the potential winnings. When bookmakers provide the feature, they essentially act as a bet cash out calculator, automatically showing all the necessary information.
Three main principles should be understood before deciding whether to cash out:
- The fair value cash out odds.
- The bookies’ offered amount.
- How the bookies’ commission (VIG) affects the Cash Out (CO) value.
1. Calculating the Fair Cash Out Value
The fair cash out value is the precise amount of money deserved without including the VIG (commission).
The primary mathematical formula to determine the Fair Cash Out Value is:
$$\text{Fair Cash Out Value} = \left{(\text{Odds} / \text{Live Odds}) \times \text{Stake}\right} – \text{Stake}$$
Example (using a £/€100 stake with starting odds of 2.50, and live odds of 1.20):
$$[{(2.50 / 1.20) \times 100} – 100] = \text{£/€108.3}$$
If the starting stake is included, the total return should be £/€208.3, rather than the £/€250 potential winnings.
Note: An alternative mathematical formula for fair cash out calculation is also available: $$\text{Fair Cash Out Value} = \frac{\left[\text{Stake} \times (\text{Odds} – 1)\right] – \left[\text{Stake} \times (\text{Live Odds} – 1)\right]}{\text{Live Odds}}$$
2. Calculating the Offered Cash Out Amount
The final offer provided by betting sites will generally differ from the fair value because betting sites use the VIG (commission) to profit from every bet. In some scenarios, bettors regret their starting picks and prefer to pay a double VIG to cash out rather than risking the full amount.
The formula to calculate the Offered Cash Out Amount is:
$$\text{Offered Cash Out Amount} = (\text{Total Earnings} / \text{Live Odds}) \times (1 – \text{VIG})$$
Example (using the figures above with a VIG of 10% or 0.1):
$$(250 / 1.20) \times (1 – 0.1) = \text{£/€187.47}$$
In this example, the difference of £/€20.83 (the margin) is the profit the cash out betting sites make for offering the service.
How to Cash Out Bets: A Step-by-Step Guide
The amount you receive is automatically determined based on the current odds.
To use the feature, follow these steps:
- Click on the eligible bet. This is usually located under your selected bookmaker’s ‘open bets’ section.
- Select the type you want to use. You can typically choose between Full, Partial, and Auto options.
- When you have chosen your desired value, click the cash out button. The amount is automatically transferred to your balance.
All the information needed for instant cash out, including your starting bet’s info, the available in-play odds, the types at hand, and the offered amount, should be displayed on one page.
Eligible Sports and Markets for Cash Out
Most sports bookmakers offer one or more Cash Out types for both pre-match and in-play wagers.
The service is available on a wide variety of sports and markets:
| Sport | Common Cash Out Markets |
|---|---|
| Soccer | Match Result, Goals Over / Under, Handicaps, Half / Full Time, Outrights |
| Basketball | Moneyline, Handicaps, Totals, Teams & Players Props |
| NFL | Match Winner, Handicaps, Totals, Race to X Points, Teams & Players Props |
| Horse Racing | Over / Under Distance, Win or Each Way, Fixed Handicap, Selection to Win / Place |
| Tennis | To Win Match, Handicaps, Total Games, Set Winner, Asian Lines |
| Cricket | To Win Match, Top Team Batsman / Bowler/ Match Sixes / Fours, Total Runs |
| Rugby | Match / Outright Betting, Handicaps, Winning Margin, Half / Full Time, Team / Total Points |
| Darts | Match Betting, Handicap 2-Way, 3-Dart Average, Set Score |
| Snooker | To Win Match, Handicaps, Total Frames 2-Way / 3-Way, Match / Player Centuries |
| Boxing | Fight / Round / Round Group Betting, Fight Outcome, Total Rounds, Method of Victory |
| Golf | To Win Outright, 72 Hole Group or Match Betting, Top 5 / Top 10 Finish |
| Handball | Match Betting, Handicaps, Total Goals, Race to 10 Goals |
| Volleyball | Match / Set Betting, Total Points, Set Winner |
Cash Out on ACCAs and System Bets: The service is commonly used on accumulators (ACCAs). Online betting sites permit bettors to use CO on various ACCAs and combo bets, besides just singles. If an ACCA includes a void selection, the voided selection does not count during the CO calculation, and the service remains available.
Frequently Asked Questions (FAQ)
Q: When is the option to cash out games suspended? A: The option is suspended if an in-play market is no longer open. For instance, if a goal is scored in a football match, the market is suspended, and only markets eligible for live betting will be available for partial, auto, or full Cash Out.
Q: Which bets are not eligible for Cash Out? A: Cash Out is generally not a commonly available option for free bets among online bookmakers. If it is allowed, the offered free bet amount will not be included in the CO amount. Players with pending bonuses like Odds Boosters can rarely use the feature. Additionally, bettors might be restricted from using it on specific markets like Jackpot & Placepot on horse racing, wagers with multiple bonuses like Lucky 15, and Each-Way Bets on greyhounds. It may also be unavailable if an online bookie cannot provide immediate information on the progress of a sporting event (such as a lower Nigerian or Malaysian soccer division).