Cash out explained

What cash out does

Cash out is an offer from the bookmaker to end your bet early and pay you a fixed amount now, instead of waiting for the final result. Once you accept, the bet is settled and the final result no longer matters to you.

Not every bookmaker, market or bet offers cash out, and the feature can be switched off at any time.

A simple example

You stake $5 on Highlanders to beat Dynamos at 3.00. The possible payout is $15.00.

• At half-time Highlanders lead 1–0. The bookmaker offers $9.40 to cash out.
• If you accept, you receive $9.40 ($4.40 profit) whatever happens in the second half.
• If you decline and Highlanders hold on, you receive $15.00. If Dynamos equalise or win, you get nothing.

How the offer is calculated

The bookmaker looks at the current odds of your selection winning and works out roughly what your bet is worth now. Then it takes a margin. In the example, if Highlanders' live price to win is 1.50, the bet's "fair" value might be about $15.00 ÷ 1.50 = $10.00. The bookmaker offers a bit less (here $9.40). That gap is the cost of cashing out.

This is why, over many bets, always cashing out tends to return less than letting bets run.

Types of cash out

• Full cash out: settle the whole bet.
• Partial cash out: take part of the value now and leave the rest running.
• Auto cash out: set an amount; if the offer reaches it, the bet cashes out automatically.

Availability depends on the bookmaker.

Cash out on accumulators

Cash out is popular on multibets. If four of your five legs have won and the last match is still playing, you may be offered a large amount to cash out. It can be sensible if the money matters more to you than the extra possible win, but remember the offer includes the bookmaker's margin.

When cash out disappears

Cash out is often suspended while a market is locked: around goals, penalties, red cards or VAR checks. If you were planning to cash out, you may not be able to at the exact moment you want. Never depend on cash out being available.

Is cash out a good idea?

There is no single right answer. Some punters use it to lock in a profit they would be upset to lose. Others avoid it because of its cost. What matters is that you understand you are selling your bet back to the bookmaker at a price it sets.

Common mistakes

• Cashing out every bet out of nerves. This adds a small cost to each bet.
• Thinking the offer is the "true" value. It is set by the bookmaker, with a margin.
• Expecting cash out to always be available. It can be suspended or withdrawn.

Summary

• Cash out settles your bet early at an amount the bookmaker offers.
• The offer is based on live odds, minus a margin.
• It can be full, partial or automatic, depending on the bookmaker.
• It is often unavailable at key moments.