The cash-out tool can be incredibly useful for a variety of reasons. Below you’ll find all you need to know about when you should cash out your bets and take a lower prize pot.
What Is Cashing Out In Betting?
Essentially it’s a feature that allows you as punters to settle your bet early and take a portion of winnings rather than the full amount. That portion is dependent on the circumstances of the game, with higher proportions offered to the bets that are more likely to win at that particular time.
Full Cash Out Example
If you were to place a bet on a Premier League game between Chelsea and Arsenal, backing Chelsea to win, and Chelsea was winning you would usually get a cash-out offer in profit. If they were 2-0 up then the amount would be more and at 3-0, it would usually be almost the full amount. As the scores change and the game changes the cash-out offer will change. In simple terms the closer you are to the win the higher your cash-out offer should be.
Partial Cash Out Example
As well as full cash-out most now offer partial cash-out. This is done via a slider where you can settle a percentage of the bet for a percentage of the offer. This gives you the option to either take our stake back or lock in some of the profits and let the bet slide.
Imagine we’ve backed a 6 fold accumulator at 20/1 for £10*. The first 5 legs were 3 o clock kickoffs and all won, we now just have the 5.30 kick-off left.
The cash-out offer may look like this –
Full cash-out for £140
We may really fancy the last leg to win but at the same time, we don’t want to lose out on a profit on our bet.
For partial cash-out, there is a slider option where you can cash it out in 10% blocks.
In this example, we’d cash out 50% of the bet.
We would get £70 back and the remaining 50% of the bet (£5) would still be in play for the full return of £100. The cash-out does remain open in this situation so you can go in and cash out further if you wish. The price will move like normal if your bet is closer to winning or losing. The initial 50% of the bet is now closed and your funds should be showing in your account. You can then make a call on the last 50% or just let it run.
What move the cash-out offer?
Many factors can contribute to the offer including
- The current score
- How long is left in the game
- If there has been any sending offs
- If a team is losing 1-0 but dominating the ball and chances
- The pre-match odds, if you backed Norwich to beat Manchester City and they went 1-0 up early the offer would be low as Manchester City would still be expected to come back and win
Once you have cashed out you have settled your bet early and what happens in the event after that moment is completely irrelevant and will have no effect on your settled bet. You could win money on a losing bet but at the same time, you could win less money cashing out a winning bet!
Which Betting Apps Offer Cash Out?
Almost every UK betting app now offers cash-out in some form or other. They all have different stipulations and rules for these.
Here are our 5 recommended apps for cashing out bets –
These are based on our overall rating for apps, with a weighting to the cash-out feature.
When To Consider Cash Out
Cashing out is always played when an element of doubt creeps into your betting. Ultimately this will always be the reason for doing so, but you should also be logical about that doubt. If there is a sizeable amount of money on offer then consider how much you would need that money!
For example, if you have built a six-fold accumulator and you’re going into your final selection with five winners, you’re undoubtedly going to be nervous and perhaps doubt your final selection. The final call always comes down to you personally so try to calmly weigh up the offer based on your own circumstances.
When cashing out in-play, you should ultimately try and get a feel of how the game may go through the general flow of the game. If a result starts to go against you, cash-out could be used as damage limitation, while in other cases you might find your selection is in the lead but against the run of play.
It’s all about staying calm, taking each cash-out decision on its merits, and making a calculated move to ensure you get the best return possible.
So, How Do You Cash Out?
Cashing out is a relatively easy process and can be done in a number of ways. Many apps these days have a shortcut on their bottom toolbar, which you can tap and go straight through to the wagers eligible for cash out.
Alternatively, you can visit the Open Bets section of your betting app and you’ll usually find a cash-out option to select and take the portion of your calculated return.
The cash-out return will be inclusive of stake and when taken will be deposited into your betting account just as any winnings would.