Best Cash Out Betting Sites & Cash Out Explained (2020)
Useful for real time bets, the bookmakers cash out option allows bettors to save something back on a losing accumulator as opposed to losing it all.
We all know the feeling, or at least would like to. You have successfully landed yourself five winning selections in a 6-fold accumulator but that final pick is teetering on the brink of sinking the whole bet, potentially costing you a near fortune as it does so. Well, that is where cash out betting comes in.
The idea being that cashing out before the bet has run its course will save you at least something rather than nothing. It works by bookmakers calculating an “offer” that, typically, you will find on your betting slip before the event’s final result has been decided. So, as you watch the event, you can decide whether or not to cash out and walkaway or let your nerves ride out the remaining time left in the event. That makes this a handy option for those bettors who can see their bet beginning to fail. Remember though, the amount of money you get back is determined at the time you cash out.
Best Bookmakers for Cash Out Betting
|1||• King of cash out betting|
• Cash out offered on Horse Races
• Peer-to-peer gambling platform
|2||• Part of the world’s biggest betting group|
• Great for football cash outs
• Best odds online
|3||• Fantastic cash out options|
• Quick sign up process
• £30 in free bets
Understanding Cash Out Betting
With a cash out bet, the amount you receive back depends on the likelihood of your bet winning or losing. Win, and provided you didn’t throw in the towel, you get back the full amount you expected to when you placed the bet. Lose, and you haven’t cashed out and you’ll lose everything. But, cash out offers a third option and one which allows you to win some money back on a losing bet. Sure, you could get back less than your initial stake but surely that’s better than losing it all. Or, better still, you could win on a losing bet.
How much you win though, depends on probabilities. In-play markets are volatile and unpredictable so it is not easy to forecast how much you can win, especially in the final stage of races or games, which is when bettors are more likely to utilise the cash out feature. The winnings offered in your betting slip will fluctuate depending on the likelihood of the outcome. In some cases, the cash out option will be removed altogether. In other cases, though, surprising new twists on the cash out bet have sprung up.
Partial Cash Out
Today many of the major online bookmakers will allow their punters to partially cash out their bet. What this means is that a percentage of your wager will be returned to you in line with the current offer’s value, while the other percentage will remain in the hunt with the main bet.
Auto Cash Out
There is also the option to select auto cash out now offered by some of the larger betting sites online. With this interesting new feature, you are required to pre-set a cash out value threshold that when breached will trigger an automatic cash out whether you are logged in or not. Again, this can be used in conjunction with the partial cash out outlined above.
Cash Out Calculation
Your cash out offer is calculated by dividing any potential winnings by the odds you would get offered if you were making that bet right now. This formula will generate a figure that the bookmaker will try and entice you with.
Cash Out Example
Let’s take a look at an example. Now, let’s imagine that you have bet £10 on Manchester City to beat Arsenal in the Premier League. The match gets to half time and The Citizens are 2-0 ahead. At this point, things are looking pretty good for your bet. At the time that you placed your bet, City were priced at 2/1 with a leading bookmaker which means that currently you are in line to scoop a tidy sum of £30 so long as things don’t go horribly wrong in the second half at The Etihad.
Even though your bet is sitting pretty, it is completely normal for bettors such as yourself to get the jitters. The bookmakers are only too well aware of this and so will calculate an early payout value which could be, say, £25 for instance. In this case you might be tempted to accept the bookie’s offer. I, mean it does still represent a profit on the original £10 you staked right? However, this is a very good City side and they are cruising along with a 2 goal lead so why shouldn’t you wait for full time and a complete payout?
But then in the second half, Arsenal get a goal back and the nerves set in all over again. However, the deficit has been halved so when you check on the bookie’s offer, that has been sliced in value too. Another goal for The Gunners and you will be kicking yourself for not taking their offer at half time as now the bookie’s offer is dropping by the minute. But, then again, if your bet is losing anyway you might as well get some money back to use another day.
Cash out betting works the other way too though. You can cash out when things aren’t going well. For instance, this time you have backed Liverpool to win and they are 1-0 down at half time. Because they have been unbeaten for so long, you feel confident enough to have wagered £10 on them at 2/1. Fortunately, you are being offered £4 to cut your losses and save your blushes which leaves you with a decision to make; accept that Liverpool might lose and take something over nothing or risk the lot in good faith that they can turn the game around in the second half, after which you can collect your winnings in full. That, in essence, is what cash out betting is all about although cash out nerves come into play even more so with accumulators.
If you have a six-fold accumulator in hand, and five selections are looking good, then the sportsbook would really like you to cash out so their offer, while still short of what your final winnings might be, will be fairly sizeable.
Cash Out Bet Winning Strategies
Fortunately, there are ways to (almost) level the playing field against the bookmakers. Here are a few cash out bet winning strategies to give yourself the best possible chance of making a profit.
Utilise The Stats Available
Researching your sports betting picks is a critical part of any bettor’s winning strategy and the best way to begin forming such a winning strategy is by analytically studying all the available statistics. Ultimately, however, it will be up to you to decide what sort of stats you look at but, because in this case we are talking about cashing out, the stats outlining when goals scored at a certain time in a match are worth studying. In this case what you will find is that the majority of goals in Premier League football are scored in the last 30 minutes of the match.
While it provides no guarantee that a goal will be scored late in the game, it might help you to reach the right – and informed – decision when considering cashing out during a match. Stats could be the data concerning when teams are most likely to score or concede in a game, how many goals they’ve scored and conceded and their recent form against the latest opposition. Oh, and fact check your stats too!
Follow Your Initial Instinct
Keep the faith and remember why you made this particular bet in the first place. This might help you decide whether or not cashing out is the right option for you at this particular time. I mean, you made that bet for a reason so maybe cashing out isn’t the right thing to do after all. Or, did you make that bet blind and late on, minutes before kick-off, not really giving it much of a thought? If so, perhaps you should take what you can and walk away.
That said, this won’t be the case for most punters. Most people put a lot of effort in when they make a bet, it is their money they are playing with after all. In this case, and assuming that they have done their homework prior to placing their wager, it means that they have arrived at the conclusion that this was a safe bet to make. If this applies to you, then go over your original thinking to decide if the bet needs to be closed down early.
Think Half Glass Full
Remain philosophical regarding your bet and remember that getting something back is still better than losing it. Consider it a part of your own personal safer gambling initiative and bear in mind that a cash out that was activated too early still pays out which is better than losing. A positive attitude will go a long way.
Other Sports and Alternative Markets Offering Cash Out
Cash out betting doesn’t just apply to live football matches. Other football markets and other sports also work well with a walk away bet. There are lots of great options for the cash out bettor and we’re here to introduce you to them.
Try Alternative Cash Out Betting Markets
Look elsewhere for different kinds of betting markets that may be more likely to prove successful. For example, try the Over 3.5 Goals market. Imagine you have placed a five-fold wager on this particular market and four of your matches have already met their required quota of 4 goals. You have every reason to call it a day but the stats tell you that more goals typically go in nearer the end of a game than the beginning. In which case, can we hold out for the five-fold bet to payout in full? Also, any extra goals that go in will not alter your bet as they would with a correct score bet or team to win.
Other strong cash out markets include; Match Result, Correct Score, Both Teams to Score, Double Chance, Next Team to Score, Half Time/ Full Time, First Half/ Second Half Result, First Half Correct Score, Second Half Correct Score, Fist Half/ Second Half Double Chance, To Win and BTTS, BTTS in Both Halves, BTTS in First/ Second Half, Goal in Both Halves, Goal in First/ Second Half, Outright Markets and the Number of Teams to Score.
Markets In Other Sports
There are popular markets available at bookmakers in other sports that are ripe for a nice cash out victory too. Here is just a taster.
- Horse Racing: Over/ Under, Win or Each way, Fixed Handicaps
- Rugby: Match Betting, Outright Betting, First Half Betting
- Darts: Match Betting
- Tennis: Match Betting, Set Winner, Set Betting
- Snooker: Match Betting
- Boxing: Fight Betting, Method of Victory
- on any of the above!
Cash Out Betting Tips
There are many things to consider when cashing out but one critical element to stop and check before you do so is your mindset. This is because cashing out purely comes done to a bettor’s own decision. Over time, you may develop a knack or an instinct to make the right move at the right time but really, as always with live sport, anything can happen at any point and all the stats in the world cannot compensate for a last minute fluky winner.
Similarly, while research is vital, all the research in the world couldn’t see Leicester City winning the Premier League in 2016 and that took place over 10 months! Although, cashing out for 45p, or -5p of the stake, after just one game and one win (like in our example below) was a silly move that doesn’t require any instinct, although some common sense wouldn’t go amiss.
When Is The Right Time To Cash Out?
Again, there is no guaranteed safe time to cash out but there are a few determining factors that are worth considering if you are in doubt whether or not to let the bet ride or shut it down. For instance, if you are happy with the cash out offer amount, then perhaps it is worth taking it. Remember, you don’t have to put yourself through the torture of the game’s last 15 minutes if you are more than happy with what you can walk away with right now. Plus, you could end up losing the lot!
Speaking of the final 15 minutes, unless a one sided rout is in play, these are by far the most testing and nerve wracking moments in a game and not just for the spectators and people with money on the result. Nerves come into play for players too, hence why more goals are scored in this stage of the game than any other. So, if the result is going your way with 15 minutes or less still to play, then give some serious thought to cashing out, especially if the result is looking shaky.
Cash Out Betting History
It was actually Betfair that pioneered the cash out function, originally launching the feature on their exchange in 2013. It was an instant hit with punters and so it was also incorporated into their sportsbook too. Now, all of the major bookmakers offer this feature.
The biggest Cash Out Betting of all time
Let’s take a look at some of the biggest winners – and losers – ever to have cashed out on their bets.
A Wise Man At Christmas
Back in 2016, one perceptive Betfair customer earnt himself a tidy little Christmas present when he selected a huge Boxing Day 21-team accumulator, which was minutes away from drawing dead when he acted decisively and saved the day. With 18 winning selections in the bag, Olivier Giroud's late winner for Arsenal against West Brom made it 19 winning picks with one match running late and the other kicking off later that day. At that point he was in line to scoop a cool £1.2 million but nerves got the better of the bettor and he decided to cash out for £223,000. This proved to be a wise decision as, less than five minutes later, Wycombe Wanderers equalised against Plymouth Argyle at Home Park blowing the £1 bet to bits.
For Fox Sake
One not so savvy punter was accused of making the worst cash out decision in history after bowing out early on a 5000/1 bet on Leicester City winning the Premier League in 2016 which, of course, they did. The bookmaker was Ladbrokes, the customer remains unnamed (and possibly in hiding) and bet was placed for a stake of 50p. The unlucky Foxes’ fan stood to win £2,500 had he have let the bet ride but instead got the jitters after just one game of the season which Claudio Ranieri's men won 4-2 against Sunderland. His Prize? 45p, marking a loss of 5p. To be fair, Ladbrokes offered the customer all expenses paid tickets to the game of his choice the following season plus a free bet on any team to win the 2016/17 title. Sadly, he picked relegated Sunderland. Probably.
A Bit Of Good Fortune
In 2018, one Bitcoin sportsbook was forced to hand over £52,675 (10 Bitcoin) after a shrewd punter cashed out early on 10 leg tennis accumulator. From these ten selections, nine had come in with one match outstanding. That match featured Stan Wawrinka who our hero fancied to win his tie. However confident this bettor was, his optimism soon dissipated and he decided correctly that he was well satisfied with nine out of ten winning selections and opted not to tempt fate and risk it all, but instead take the money and run. Just as well too as Wawrinka went on to lose the match 6-4 6-0.
How Does Cash Out Betting Work?
Cash out betting works by bookmakers offering you tempting odds calculated in real time designed to plant a seed of doubt in the back of your head enticing you to walk away from your bet. On the flip side, you can use this feature to save or even make some big money. The bookmakers arrive at this offer by calculating odds that combine your current bet weighed up against the current price on the same outcome to generate a figure.
How Is Cash Out Calculated?
Cash out value is calculated by number crunchers who weigh up the probable returns of a bet against the current odds that you would have received if you were placing that bet now.
Can You Cash Out A Free Bet?
That really depends on the site but generally speaking, if a site was to allow it, then you wouldn’t get back the “free” stake portion of the wager.
Which Sports Can You Cash Out On?
Not all bookmakers offer all the same markets but some of the most popular sports to cash out on, other than Football, include Horse Racing, Rugby, Darts, Snooker, Tennis and Boxing, among others.
Which submarkets can you cash out on?
Football comes with so many betting opportunities that there is no shortage of submarkets to wager and cash out on with your in-play betting. As the main market when it comes to in-play betting, football can provide submarkets that number somewhere in the high 30s for any given event and includes goals, team goals, handicaps/total goals, half and period, goal time and more.
Which Bookmakers Offer Cash Out?
All of the main bookmakers offer cash out as an option to punters although not on all sports and you will need to check their terms and conditions or available sportsbook markets to see what is available and where.
The big take home from all of the above is that there is no exact right or wrong when it comes to cashing out. Sure, there are strategies and tips which can help you make an informed decision but ultimately the choice can only come from yourself and you can almost never be certain that you made the right call until the full time whistle blows and the result has been confined to history. On the one hand, the offers you will receive as your event plays out in real time are designed to tempt you into backing out. But, as we have seen from the real life examples listed here, that cashing out can both pay off and cost you heavily. On the whole though, patience in betting can pay dividends and it is hard not to conclude that cash out betting is a great addition to online betting.