Should I Cash Out? Shouldn’t I Cash Out? Should I? Shouldn’t I? We have all been there before and we’ll all probably be in that situation again. Cash Out was introduced a few years ago and most Sportsbooks are offering this feature now where you can close your bet before it is completed by cashing out your money. The Cash Out amount is dependent on the current odds of the bet and therefore the Cash Out can be more or less than your original stake. There is a theory that you should NEVER Cash Out which technically many would agree with however having it as an option is extremely useful.
The beauty of the feature is that no Sportsbook would ever force a punter to cash out their bet – should a punter wish to Cash Out they would do so on their own accord. Sportsbooks actually like it when punters use this feature as the Cash Out offer is always slightly less (approximately 5%) than the true odds of the current value of the bet, so effectively it is not worthwhile using this feature in the long term however punters Cash Out because they would want to due to different reasons.
So when might a punter want to cash out their bet?
To take a profit during a live match
You have placed your bet Pre-Match or Live, your team is winning 1-0 with 10 mins to go and you’re convinced they are going to concede a goal. Now would be the time to hit that Cash Out button and take what would probably be a profit.
To ‘sell’ an accumulator with a number of winning selections
Let’s say you place a 10 team accumulator bet and the first 8 teams in the bet have won, you could theoretically Cash Out the bet and take whatever profit is being offered to you at that time.
To minimise a potential loss (usually live bet)
Imagine you have placed a Pre Match football bet and your team is losing 2-0 at half time and 4 of your players are on yellow cards. In most cases in a betting shop, you’re practically screwing up your betting slip and throwing it away (not really but that’s how you feel).. with cash out you’d still probably be getting an offer for that bet that you placed. Ok, it would only be a tiny fraction of the bet but in this day and where we love the expression ‘every little counts’ you can get something back for your bet.