Cash Out is a feature offered by some sportsbooks so that the bettor can close or cancel his bet in advance before the match is over. You can use this option to protect your winnings before the match takes a different course, or to avoid losing a higher amount of money if your bet is a loser.

Knowing how and when to use a Cash Out correctly is an excellent way to control your winnings and losses. There are many things to look at before deciding because if you go ahead and cancel your bet due to fear or emotions of the moment, you could affect your winnings.

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This utility of canceling bets in advance is also useful when you have made a mistake when placing your bet. With the Cash Out tool, you can cancel and return the bet to place your investment on the correct bet.

Cash Out is a good strategy for those who place live bets and watch how a match unfolds. According to how it is progressing, they can then decide to cancel their bet or advance to the end with the total amount. It is one of the most common ways to minimize risk, such as Kelly’s Criterion.

Consider that if you cash out when the game is already in progress, you may not refund your bet amount. You will have to inform yourself about your bookmaker’s conditions to make a cash-out. Also, remember that not all bookmakers enable the Cash Out option. If you are looking for a sportsbook that allows you to cash out, you can go with Betway.

If Your Team Is Winning

Cashing out when your team is winning seems crazy because if you are already close to the expected result, why pull your money out? The explanation for some gamblers is simple: to protect their winnings. This is especially true when the game scenarios are very changeable, and at the last moment, it could lead to a defeat.

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So, let’s say you are betting on Toronto FC to win against Inter Miami, then Toronto is ahead in the first half with a 1-0 score over Miami. Although there is still a second half to go, you decide to retire as an early winner.

At this point, click on the Cash Out tool, and the bookmaker will show you the odds you will be allowed to cash out, which will probably be a little lower than the odds at which you started the bet. This means that you can cash out winning, but less than what you would win if you hold out until the end, and Toronto FC is the winner.

Some bettors prefer to cash out and guarantee that they will win, even if the amount is lower, but not risk getting to the end of a sporting match in which anything can happen and could end in a defeat, in which they lose the total amount of their bet. Another way to secure your winnings is to arbitrage your bets. Click here to read more.

cash out

If Your Team Is Losing

When you place a bet on a team that is losing and clearly cannot come back before the end of the match, you can either cash out your bet early or close it with cash out. Depending on the bookmaker placing your bet conditions, you receive a partial refund of the amount wagered.

Some bettors prefer to Cash Out before the end of a sporting event to protect part of their investment and not lose it all. In this case, the Cash Out tool minimizes losses and protects your bankroll. Check out our article with 5 Basic Tips to improve your sports betting.

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Logically, you must be very careful when making these decisions because anything can happen in a sports match. If the team manages to come back at the end, getting a victory, you will lose the opportunity for a significant profit.

This option can be used when you bet live and realize that your team’s fate was not as expected. Some bookmakers usually automatically offer the Cash Out option, but be careful because if your team wins, it would be a wrong decision. Remember that not all bookmakers offer the Cash Out option. If you are in Canada, you can go with Sports Interaction.

Take Partial Profits

A partial bet close is an option that helps you to ensure a profit while keeping the bet you have made with a lower amount than the one you initially invested. How to make a partial close of your bet? We explain it with an example below.

You bet $100 on Seattle Seahawks to win, and your team takes the lead over the opponent in the first 20 minutes of the game. At that moment, you decide to Cash Out to secure your profit, but not for the total. You cancel 50% of the bet and leave another $50 until the end of the game.

If Seattle Seahawks win, you will get the profit of $50 that remained in the bet. But if the game evolves negatively for your team, you will only lose $50 and not the total of your bet, in addition to the fact that you have already cashed out your profit while the team was ahead.

This strategy requires the player to follow the live sports match, handle scenarios with accurate information, and make the right decisions. As in any bet, it also has risks that must be considered.

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FAQ

When Can You Cash Out?

You can cash out when you consider that your team is winning, and you do not want to risk that a match turn may cause you to lose your bet. In this case, you withdraw and win with the odds offered by the bookmaker at that moment.

Another time to cash out is when your team is irretrievably losing, and you realize that the result will not improve. Then you cash out and receive a part of your bet.

Do All Sportsbooks Offer Cash Out?

No. Some bookmakers don’t offer this feature, so you should look for one that does and, above all, carefully read the conditions that apply to this strategy.

What Value Is the Cash Out Calculated With?

It is calculated with the odds offered before the match, and the bookmakers generally charge a commission for this. If the odds at the closing of the bet were 1.98, indeed they would offer you a lower profit.

Can I Cash Out From My Cell Phone?

Yes, most bookmakers have mobile apps so that you can check your live bets while a match is in progress. If you do not have an app, you can access the mobile version of the website.

Deposits and Withdrawals:

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