Because of high demand, the cash out feature is now available at most online bookmakers.
Betfair first pioneered this option during the surge in popularity of in-play betting, and many competitors swiftly introduced their own versions.
With widespread adoption, most bettors now have the option to cash out their bets, and many take advantage of this feature.
If you’re interested in doing the same, continue reading this guide on cashing out to learn how it works.
What does Cash Out mean?
Before explaining the process of cashing out a bet, it’s important to clarify this term.
Cashing out allows a bettor to conclude a wager before it reaches its full term.
To simplify, consider that you’ve placed a £10 bet on Fulham to defeat Everton with odds of 3/1. If Fulham has a slim lead of 1-0 after 70 minutes but appears very unsteady, you might choose to cash out your bet.
At this point, the bookmaker might offer you a cash-out price of £25 (including your original stake). If you accept this offer, your bet concludes immediately and you’ll receive the £25 immediately.
Whatever occurs in the game afterward won’t affect you since you’ve already settled your wager.
Type of Cash Out
Partial Payout
By opting for a regular cash out, you’ll conclude the entire bet ahead of time, making sure no part of it remains active.
With a partial cashout, you can close part of the wager and allow the remainder to continue as usual.
Suppose you placed a £10 bet on a cricket match. You might choose to cash out half of it at half the offered cash-out price, while leaving £5 on the event at the original odds.
For bookmakers providing this feature, there is typically a slider located next to the cash out price.
Users simply adjust the slider to select the percentage of the bet they want to settle early.
They confirm it in the same way as a standard cash withdrawal.
Automatic Cash Out
With this convenient feature, you can cash your bets without needing to actively participate.
After placing your bet, you can alternatively establish a cash-out “rule” that will be applied automatically.
Generally, the process involves specifying that you wish to cash out your bet when its value hits a certain figure, such as £15.
Some bookmakers allow customers to establish auto cash-out options, enabling them to settle only a portion of the bet when it reaches a predetermined amount.
How to Cash Out Funds
We identify three key steps in the process of cashing a bet, as outlined below:
Place a Qualifying Bet
It’s obvious that to cash out a bet, you must place it with a bookmaker that provides this option.
However, there’s more to consider because not all markets available for betting can be cashed out.
In the example, only -1 handicap markets qualify for cash-back, whereas drawing no bet does not.
At this stage, it’s important to keep a few key points in mind. First, remember that bookmakers have varying rules about which markets are eligible for cash out;
Don’t assume all will offer it just because one does. Secondly, not every bookmaker indicates these options—some specify on the betting slip whether cashing out is available or not.
In general, most bookmakers offer options for both single and multiple bets. This means any bet involving just one stake can usually qualify, provided all selections on the betting slip are eligible for withdrawing.
However, this feature is less commonly available for system bets, so be sure to review the rules in advance if you typically place these types of wagers.
Keep in mind that it’s common for bets placed with a free bet not to include the cash-out option. When bookmakers do allow this feature, any cash out offer will exclude the value of the free bet itself.
Be Patient for the Optimal Moment
Timing is crucial when it comes to cashing out. Though mastering this skill can be challenging, you can improve with practice over time.
Managing multiple bets on simultaneous sporting events complicates the decision of when to act optimally.
However, if you’ve placed just one bet, you have the advantage of closely watching the game or monitoring live stats for a well-informed viewpoint.
No matter what your bet entails, there are typically two scenarios when bettors choose to accept a cash-out offer. The first is when the situation starts leaning against their favor.
If you feel unsure about your final choice, you might conclude it’s wiser to secure your gains now instead of risking everything for a potentially larger payout later.
After all, why jeopardize what you’ve already secured?
When contemplating between events, you gain the advantage of having extra time to carefully consider your decision.
While it’s possible for the cash-out price to slightly fluctuate due to changes in pre-event odds, these variations are usually minor.
This scenario can also occur during halftime in football matches, lunch breaks in cricket games, or other pauses in play across different sports.
When cashing out a live bet, you typically need to act swiftly due to the significantly increased volatility of the offered price. Referring back to our initial example with Fulham against Everton:
if you hesitated and didn’t cash out at £25, and then Everton scored an equalizer in the 78th minute, your new potential cash-out value could drop to about £5.
Please confirm the cashout
Once you’ve determined the timing is right, all you have to do is make it official. While bookmakers may vary in their operations, you’ll typically find your active wagers under ‘my bets’ or ‘my open bets.’
For any cash-out eligible wagers, there should be a button next to them displaying the cash-out price.
To minimize the risk of accidents, bookmakers often require you to confirm a cash-out before proceeding. As a result, this process generally involves two clicks or taps instead of just one.
Once confirmed—an action that usually takes only a few seconds—the funds will be added to your account balance by the bookmaker.
Sometimes, instead of seeing a price, you’ll encounter a message like “cash out suspended.”
This typically happens because the bookmaker has halted the live odds for an event or at least for the specific market you’ve wagered on.
They often suspend betting during pivotal moments such as goals, penalties, or red card reviews since these can significantly affect the available odds.
Market suspensions typically don’t last long, so wait a short while and the cash-out price should reappear. Depending on what occurred during the suspension period, this price may be either lower or higher than it was before.
Conclusion
Betfair introduced cashing out during the rise of in-play betting, and many competitors have since followed suit. Cashing out allows a bettor to end a wager before it reaches its full term.
There are two types of cash out: partial payout and automatic cash out. Partial payout concludes the entire bet ahead of time, while automatic cash out settles only a portion of the bet.
To cash out funds, place a qualifying bet with a bookmaker that offers this option, as not all markets can be cashed out.
