Cashing out is one of the most exciting moments in sports betting because it means that you’ve won some money and you’re sending it to your account. Making a cash-out bet is the moment when you turn your prediction into cold, hard cash even before the game ends. It’s a great feeling and it’s a sign that you got things right.
Cashout betting is probably not something you’ll be doing every day, but you need to know about it. So when should you be using the cash-out bet option and how do you do it? Let’s start by taking a look at what this involves and when you can do it.
What Is a Sports Betting Cash Out?
The bet cash out option is where you close your bet before the game finishes. In the case of a parlay, it would be before all of the different elements have been completed. At this point, your wager is looking good but you’re still not certain that you’ll win, so the chance to collect a profit may be appealing.
We can see this more clearly with an example. Imagine you’ve bet on the Chicago Bulls to beat the Minnesota Timberwolves. It’s a close game but the Bulls take a lead half-way through the final quarter and are hanging on. If the bet offers a cash out facility, then you’ve got a decision to make now.
Do you think that Chicago will hold on to win the game? If so, you’ll win the amount that is listed on the bet slip as the potential return. In this case, you don’t need to do anything and can just wait to see if the Bulls see out the game so you collect your full winnings.
But what if you worry that the Timberwolves might launch a comeback and win the game, meaning that you lose your bet? This is when you may consider cashing out, as a way of making sure that you win no matter what happens next in the game. The amount you’re offered will be lower than the full return, but it’s better than losing the bet and getting nothing back.
When Is Cash Out Available?
The option of a cash out bet is becoming more popular, but you won’t see it listed for every game or event that you want to bet on. To find out whether it’s available, take a look at the bet and see if there’s a cash out mentioned next to it. On ClutchBet this comes in the form of a circle that has CO written on it.
If you choose a game where the bet cash out is available, you’ll see this in the live betting section once the action gets underway. Of course, if you haven’t already placed your bet then you can still do it at this stage. However, the odds may have changed to reflect what’s happened so far in the game.
If you intend to follow the game live, you’ll probably want to look for a bet that has the cash out option on it. This will give you some level of control over what happens, as you’ll know that you’ve got the chance to collect at any point. However, if you know that you’re not going to be following the action then there might not seem any reason to take this into account.
Why take a Cash Out?
Before looking at the question of how to cash out on betting on sports, we need to think about why you would do this. When should you cash out on a bet that you’ve made? Everyone is different in this respect, but if you like the security of guaranteeing a return you might want to cash out early. This is a way of ending any sort of uncertainty about whether you’ll be collecting some winnings or not.
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One of the situations where most people will probably be interested in cashing out early is where the score is working out well for them but doesn’t really reflect the way the game has been going. Maybe you’ve bet on the Green Bay Packers to beat the Kansas City Chiefs and they’re doing so. But it hasn’t been a convincing performance by the Packers and they’re lucky to be ahead. You might decide to take some winnings while you can.
Can you cash out a parlay early? You can, and in this case there are some different factors that influence your decision. You might have bet on a few different teams and the first few have won as expected, but you aren’t so confident about your final selection. Will you risk your winnings so far or will you take what you can get right now?
How is a Cash Out Calculated?
You’ll simply see a cash out on the screen if you look at the cash out option, so there’s no need for you to calculate anything. However, perhaps you’re interested in seeing how it’s worked out and would like to see the calculation used to do this. The sportsbook takes into factors such as the current live betting odds and how long is left, to come up with what they think is a fair figure.
How should you calculate where the cash out amount being offered is fair and worth accepting? In this case, there are some examples you can find online that lets you see whether the offer is worth taking. However, it ultimately comes down to your feelings on what you think will happen next.
You’ll see that the amount offered for cashing out changes constantly, as the odds are calculated all the time based on the latest information. So if the team that’s losing starts fighting back you’ll see that you get offered less money on their rival winning the game. Things can move very fast, so it’s worth thinking beforehand about what level of offer you would consider accepting.
How to Take a Cash Out?
No matter how and when you placed your bet, the cash out option will be listed during the event, in those games where it’s available. It’s always updated, so you’ll see it change if you watch the figure as the game swings one way and then the other. This means that you need to be fast if you want to accept the figure you see, as it could change at any moment.
So, you take a look to see how much you can collect by cashing out early, and if it suits you to do so then simply accept this option. The funds will be instantly passed into your account, ready for you to use again or else to withdraw. It’s very simple to do, but it’s definitely worth familiarizing yourself with the process so you’re ready to move when it suits you.
What if you want to let the game come to a finish on the original bet rather than cashing out before it ends? You can ignore this button and just let your wager run its course. You’ll then get credited with any winnings once the game ends.
Is a Cash Out offer final?
As we’ve seen, the cash out bet offer changes from one moment to the next, reflecting the action that’s taking place in the game. This means that there’s no final offer as such, as the amount is always subject to change right up until the very end of the game. You need to decide whether to accept it before it changes again.
However, the offer is final in the sense that it won’t change unless something changes in the game. So it doesn’t increase or decrease randomly based on whether you accept it or not. It’s purely based on what’s happening in the game and there’s nothing you can do to change it,
Having said that, the amount of time left in the game also has an effect. The reason for this is that there’s less time for the result to change with every passing minute. If the team you backed is winning, then every minute that goes by sees them get a little bit closer to securing the victory. This means that your potential cash out amount can start to vary even if there’s not much happening in the game to suggest any sort of change happening to the score.
The addition of the cash out bet to online sportsbooks has made it even more exciting, and given bettors a degree of control over what happens once the game begins. If you enjoy watching the games that you bet on, this is a clever way of being able to decide whether to keep your bet going until the end or cash out early.
For those fans who you enjoy watching sports and betting on them, this is sure to be of interest. Cashout betting adds some extra excitement to the games you bet on, so it’s worth a try if you want to give yourself an extra chance to win. Even if your original prediction doesn’t work out as a winner, you might still get a profit if you cash out at the perfect time.