When to use the Cash Out feature (and when not to)

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In the sporting world, tough decisions aren’t just for coaches and players to make. With the Cash Out feature, bettors can control their own destinies, too. Please continue reading to discover the meaning of the Cash Out feature, its benefits and the best times to Cash Out (or not).

What is the Cash Out feature?

Cash Out is a feature that allows bettors to settle an open, live, or ongoing bet for a pre-determined monetary value agreed to by both themselves and a sportsbook. The value of the Cash Out offered will change depending upon the current likelihood of the bet outcome occurring.

How does Cash Out work?

One of the main aspects of the Cash Out feature is that it can be offered both on winning and losing bets. This means that the Cash Out option allows bettors to benefit from a position of strength for a guaranteed monetary gain, or limit their losses by earning a smaller return in instances where the original bet might end up losing.

In some ways, the Cash Out feature is similar to the popular game ‘Deal or No Deal’. The contestant responds to the banker with either “deal” or “no deal” from a winning or losing position. Responding with “deal” means the contestant agrees to sell their box and its value for the amount of money offered, similar to a Cash-Out. On the other hand, “no deal” or rejecting a cash-out offer means the contestant/bettor wants to stick with their current wager/box.

Benefits of the Cash Out features

The main advantage of Cash Outs is that they offer a guaranteed return on both winning and losing bets. Another benefit of the Cash Out feature is that it’s like an expected value (EV) strategy but with extra certainty, even though cashing out is almost always less than a positive EV.

Imagine playing Deal or No Deal, but knowing your suitcase contains either $1 or $1 million. “Cashing out” your suitcase for $300,000 would generate a nice chunk of the EV of $500,000, plus the peace of mind that you don’t end up with only a dollar.

If you dig further, additional benefits of using the Cash Out feature include:

• Promoting a rational mindset and eliminating emotional and risky betting patterns
• Offering emotional relief by securing some winnings instead of potentially losing everything
• Preparing for either outcome, i.e., being in a winning or losing situation.

Examples of Cash Out options

Consider the following scenario in this recent Soccer match.

• Stadium: Lluís Companys Olympic Stadium Barcelona
• Teams: Barcelona (FCB) vs Paris Saint-Germain (PSG)
• Game: UEFA Champions League, quarter-final, second leg
• Score: FCB 1 - PSG 0 (4-2 on aggregate)
• Minute: 28’

Despite not playing that well, FCB are leading at home and on course to qualify for the semi-final. All of a sudden, Ronald Araújo, FCB’s main central defender, gets a red card for a mistimed tackle on PSG’s Bradley Barcola. It’s now 10 men for FCB versus PSG’s 11. From a position of strength, FCB could now find themselves vulnerable.

Prior to the match, Bettor A wagered $100 on Barcelona winning the match at odds of 2.19 (+119), potentially returning a total of $219 (the initial $100 stake plus $119 profit).

Also, pre-match, Bettor B wagered $100 on PSG, winning at odds of 3.10 (+210) and potentially returning $310 (the initial $100 stake plus $210 profit).

So with the momentum likely to change, it could be time for both bettors to consider any Cash Out options that come their way.

In theory, Bettor A could be offered an amount like $130 by the sportsbook to settle the bet. Sure it’s not $219, but $130 could make financial sense considering there’s a long way still to go in the match and FCB are look shaky while their hang on to their match and aggregate lead.

Whereas Bettor B may be tempted by the sportsbook’s offer of $60. Can PSG turn their numerical advantage into a win (and a decent payday), or will the pressure be too much? Maybe it’s time to take the offer and run. After all, any money from a losing position is worth considering.

When to use the Cash Out option (and when not to)

Cashing out or not depends on the situation at hand. The reality is that the correct decision can only be revealed after the fact, but unfortunately, bettors can’t see into the future.

That’s the intrigue with the Cash Out feature, it’s like a game within a game, using many elements of risk, strategy and sporting knowledge. All this while the clock counts down and where the circumstances and Cash Out offers are subject to change at any time.

Before hitting the Cash Out button, each bettor will need to consider how much-guaranteed money is on offer and different aspects of the match in progress. These factors include how much time is left to play, both team’s records from losing/winning positions, how many substitutes each team has left (and their quality), disciplinary records, etc.

It’s only then that both bettors should reach for the Cash Out button or leave it alone.

What is a partial Cash Out?

A partial Cash Out features allows bettors to cash out a portion of their bet and leave a certain amount of their stake to run. Imagine that the second leg between FCB and PSG is now 1-1 (4-3 on aggregate) after PSG scored following a lenghty spell of possession and it’s currently half-time.

A realistic Full Cash-out offer, with the score now at 1-1, from the sportsbook to Bettor A (FCB) could be $40. A partial cash-out offer could be a guaranteed $20 in return for half of Bettor A’s initial $100 stake, i.e., $50. The remaining stake of $50 will be left to run. So, in the event that the Partial Cash Out offer is accepted, Bettor A will receive $20. In addition, should FCB go on to win, Bettor A would also get $50 (the remaining stake) x 2.19 (the original odds), which would be $109.5.

Just like a full Cash Out, a partial Cash Out allows bettors to lock in some winnings. So, in matches where the tide is turning, like our Barcelona - Paris Saint-Germain example, partial Cash Outs let bettors guarantee some returns while continuing to stay in contention for more.

Which sportsbooks offer Cash Out features?

The great news is that many betting sites and operators offer Cash Out features, including here at Wildz Sports.

However, our Cash Out options combined with our great odds, special offers and generous bonuses, mean that bettors won’t need to look elsewhere for the best value sportsbook deals.

Cash Out is a great way of enhancing the entertainment of sports like Soccer, NBA, NFL, NHL, etc, to offer bettors more flexibility than ever before.