There is no single driving force behind Betting.us – we are a team of betting experts who all contribute their experience and knowledge. From data analysts and legal professionals to veteran gamblers and creative writers, we all contribute with a unique perspective and skill set. This collective wisdom ensures that our content is both comprehensive and trustworthy.
Early Cash Out in Sports Betting
Early cash outs are becoming an increasingly popular payout mechanism now that online sportsbooks have introduced it. When appropriately used, bettors can guarantee profits when an upset looks likely or even receive a partial refund on stakes if losses appear imminent. In this guide, we'll explain when early cash out is a smart move and share our reviews of the best betting sites.
What is Early Cash Out in Sports Gambling?
Early cash out mechanisms allow bettors to request a payout on their bets before a game has finished. These may be offered in cases where your bet looks likely to come through or if it looks as though a loss is likely. They can be offered at all game stages for both pre-match and live wagers.
Bettors may want to engage in early cash out betting for many reasons. Whether you're anxious that your luck will turn or want to secure at least some of your likely losses back, knowing how and when to use the early cash out process is a beneficial skill to have.
Explained: How Early Cash Out Works
A sportsbook may offer an online betting cash out option at any point during an event. Whether you've placed a single, parlay, futures, or in-play wager, an operator could give you a chance to secure some or all of your stake back. If the event hasn't started, you may even be able to request a full stake cash out.
However, there's a high chance that the sportsbook's payout is lower than your stake amount. This will usually be the case when the odds for your payout have changed. It's also possible that online sportsbooks charge a fee, meaning you'll pay the betting sites margins twice.
One example of a betting cash out would be if a player makes a pre-match moneyline bet backing the New York Giants. If the Giants are in the lead in the final quarter, but it looks possible that their rival could come back, a bettor could request a cashout.
The payout will reflect the live odds at this time instead of the odds when they placed the bet. If the Giants lose, bettors can rest easy knowing they still secured a payout. If the Giants go on to win, then at least there was still some profit earned. It is, therefore, essential to know why and when to request a cash out.
Does Cash Out Include Your Stake?
Like any payout, the cash out will include your stake. For bets where you are likely to win, you will be returned your stake and a portion of your potential profits. For bets where you are likely to lose, you will only be returned a portion of your stake and no winnings.
There may be instances before an event has started when you can request a cash out on your bet. Sometimes, you won't be charged anything, but it's more likely that a small fee will be added. For this reason, we suggest only cashing out before events if you have no confidence whatsoever in the outcome.
Why Cash Out Early?
There are several good reasons to cash out early, with the strongest arguments being that you can guarantee profits, lower your losses, or secure refunds. Some players may want to withdraw their weekly winnings right away, be bored with the bet, or want to secure some payment. There are no wrong answers on when to cash out.
While in the best-case scenario, you will always lose some potential winnings, it can be a relief for many players not to wait for a bet out and see where it could turn. At the end of the day, the decision to cash out is entirely up to you and what you think is best.
Pros and Cons
- Control the Outcome
- Secure Profits
- Protect Against Unexpected Results
- Reduces Potential Winnings
- Missed Opportunities
When Not to Cash Out Early
Understanding when a cash out bet request is not worthwhile is integral. There are several instances where this could be the case. Firstly, if you make a pre-match wager and the odds have changed, you could be offered only a partial refund of your stake. To claim this would result in quite a large vig going to the betting site. To check if this is the case, compare the payout the sportsbook offers if you took their cashout and immediately made the same bet.
It's best to commit to your initial instincts in most cases. Also, requesting a sportsbook cash out doesn't make sense if your bet is likely to win and the live odds are still lower than the pre-match odds you've secured. Patience is a virtue in this case and good sports betting benefits from an ability to stomach uncertainty.
How to Cash Out Early
It's extremely easy to cash out bets early. While the process may differ slightly at the best betting sites with cash out features, the mechanisms should be the same. All you need to do is head to your player account within your sportsbook or wherever you can see your active bets.
You'll see a button that says 'Cash Out' if available. This will usually be included alongside the value that is offered. Just click this button and confirm that you will receive your payout. Just be sure to carefully consider the amount provided and its relation to your stake and potential wins or losses.
Strategies Using the Early Cash Out Feature
Unlike many betting options, only a few sports betting tips and strategies can be employed regarding a cash out in betting. This is because, for the most part, the decision to cash out early will come down to your own ability to stomach the end of a match.
One instance when a cash out would be a good idea is if you've later realized that you've made a bet without completely considering the game details. You may not realize that an underdog is playing at home, for example, and the team has a strong reputation for delivering upsets at home games.
We recommend that when a team you've backed is winning by a large margin, resist an early bet cash out. On the other hand, if the margin is small and the opposing team has got a second wind, an early cash out may be your smartest move. This option depends on your close attention to the game and trust in your gut.
Restrictions
Even at betting sites that regularly offer cash outs, you can't always guarantee these will be available. At times, you may be warned that cash outs are suspended. The cash out is suspended, meaning you won't be able to request a cash out for the time being.
Furthermore, your payouts from cash outs will always be restricted to a price below your original payout. This is even if the live odds at the time of cashing out are more favorable. This is just the price you have to pay to guarantee a profit.
How Sportsbooks Have Different Early Cash Out Terms
Yes, different bookmakers have different early cash-out terms for their betting options. The specifics of how this feature works, like the terms under which you can use it, the calculation of the cash-out amount, and any restrictions on its use, can vary significantly. Factors that can differ include:
- Availability of Early Cash-Out: Some casinos might offer early cash out for a wide range of sports and events, while others may limit it to certain sports or even specific matches.
- Calculation of Cash-Out Amount: The methodology used to calculate the cash-out amount can vary. It generally considers the odds of the bet's success and may also factor in the bookmaker's margin.
- Timing for Cash-Out: Casinos may have different rules on when cash-out is available. For example, some might allow it throughout the event, while others may restrict it to certain game periods.
- Partial Cash-Out: Some casinos offer the option to partially cash out a bet, allowing you to take out a portion of your potential winnings while leaving the remainder of the stake active. The availability and terms of this feature can vary.
- Restrictions on Use: There might be restrictions on using early cash-out for bets placed with bonus funds, or it might not be available for certain promotional bets.
Because these terms can significantly impact your betting strategy, reviewing the specific terms and conditions provided by the sportsbook where you're betting is essential. This information is typically available on their website, in the help or FAQ sections, or by contacting their customer support.
Top Mobile Betting Apps for Cashing Out Early
When you bet on a sports app, cash out options will be available as they were on the desktop platform. In fact, using mobile betting apps for placing bets and requesting cash outs tends to be much easier than the alternative. That said, not all apps offer these. Below, we've listed the top apps so you can make a cash out bet at home or on the move.
DraftKings
DraftKings is one of the best cash out betting sites due to its ease of use and fair cash out offers. The option is available on selected sports for pre-match, live, future, and parlay bets. To cash out a bet early at DraftKings, head to the My Bets section of your account and click the "Cash Out" button.
BetMGM
BetMGM is another of the great cash out early betting sites. The option is offered in either the My Bets section of the bet slip if the event has started or the Cash Out section of the bet slip if it hasn't. You can also activate Auto Cash Out if the cash out value reaches a predetermined number.
Ceasars
The Caesars early cash out options will be offered in your bet slip. If you want to cash out before a match, head to the My Bets tab to find your bets and click the "Cash Out" button. If you want to cash out during a game, go to the Open Wagers section of your Caesars betting account and check if there is an offer to claim.
FanDuel
FanDuel is another stand-out option among the recommended cash out sites. Head to the Active Bets tab on your bet slip to get started. You will see a small green money icon next to the bet if cash out is available, alongside the offered value. Click this to confirm, then approve the process.
FAQ
Are you looking for fast and clear answers about early cash outs and what they are? In this section, we have answered the most common queries about cash out early betting sites in easy-to-read and concise terms. Use the jump-links in each to find more details.
What does early cash out mean?
Offering a chance to lock in profits or minimize losses based on the current likelihood of the bet winning, early cash-out allows bettors to settle a wager before an event concludes early cash-out will enable bettors to settle a wager before an event concludes. This feature's availability and terms vary across casinos, impacting betting strategies.
Which online sportsbooks offer an early cash out?
The early cash out option is still relatively new to US sportsbooks. For this reason, it is not available at all sports betting sites. Among the top mobile betting apps for cashing out early are popular and highly favored brands such as BetMGM, DraftKings, FanDuel, and Caesars.
Do certain betting types affect the ability to cash out?
Yes, you'll find that not all bets will be eligible for cash outs. This will entirely be at the discretion of each operator. In any case, you should be able to cash out for pre-match, live, futures, single bets, and live wagers at all sites, depending on the sport. Take a look at the terms and restrictions in place for early cash outs at each betting site before you attempt to request one.
Conclusion
Now that we've completed this guide to the best betting sites for cash out options, we hope that you can comfortably pick a site that suits your needs. You'll find that each has created a mobile app that supports simple cash outs, which you can use alongside making pre-match and live wagers.
Meet the creators behind our content: a collaborative of seasoned professionals, each with their area of expertise. From analytical minds dissecting odds and legal counselors demystifying regulations to strategic players sharing their secrets, our team's diverse backgrounds enrich every piece of advice and insight we offer.
We have dedicated this guide to thoroughly explaining cash outs and when and why they should be used. If there's one major takeaway from the article, you'll need to train your gut instincts and knowledge of the game to decide whether it's worth requesting a cash out. Don't end your learnings here, check out our list of betting guides for more useful topics.