If you’ve been betting for a while, chances are you’ve come across the Cash Out option on your betslip and may have even tried it a few times.
The Cash Out feature has grown into one of the most popular tools on sports betting sites. This feature allows you to settle your bet early, letting you either pocket a portion of your winnings or recover part of your stake if things aren’t going well, so you don’t lose everything.
Because it offers a level of control over bets, Cash Out is one of the most appealing features bettors consider when choosing a bookmaker.
You can find out which betting sites offer Cash Out in our detailed review of the best betting sites in Nigeria. However, it’s worth noting that each bookmaker offers different Cash Out options, with the most common being Partial Cash Out and Full Cash Out.
However, cashing out your bet isn’t something to do without careful calculation. The timing and situation can make all the difference between feeling regretful or looking like a genius.
In this guide, we’ll look at when to cash out your bet, why it can be useful, and which situations lend themselves to using the cash out feature so that it works to your advantage.
Welcome Bonus Up to ₦200.000
What Is Cash Out in Betting?
We’ve covered Cash Out in detail in this article, but the main thing to know is that it’s an option some betting platforms give you to settle your bet (single or accumulator) early before the final outcome is decided.
This means you’re not locked into the original stake and payout. Instead, you can accept a portion of your payout or reduce your losses based on how your bet is going.
If your single or accumulator bet is winning but looks shaky, or you’re not confident about it lasting until the end, cashing out allows you to secure some profit before things go bad. On the other hand, if it’s clear your bet isn’t likely to win, you can cash out early to recoup part of your stake rather than lose it all.
Not all bookmakers call it “Cash Out” on their betslip. Betting sites like 1xbet and 22bet, for instance, use the term “Sell”, but the feature is essentially the same: it allows you to take a part of your bet’s value before it concludes.
300% First Deposit Bonus up to ₦145600
How Cash Out Payouts Are Calculated
Because Cash Out tends to favour the bettor, betting platforms don’t always love this feature. Cash Out lets you secure part of your winnings or limit your losses before a game ends, which can expose bookmakers to potential losses.
To protect themselves, bookmakers adjust the Cash Out value as the game progresses. Generally, the closer to full-time, the lower the payout if your bet is losing or higher if it’s winning.
Cash Out payouts are calculated based on a few factors, one of the most important being the odds at the moment you decide to cash out. As the game nears the end, the Cash Out amount often decreases, especially if things aren’t in favour of your original bet. So, the earlier you cash out a losing bet, the better your payout is likely to be.
Here’s a common formula bookmakers use to calculate Cash Out:
Cash Out Value = (Current Odds or Live Odds) x Stake – Initial Stake.
Bet and Get ₦1.000.000 in free bets
In some cases, additional factors might affect the payout, such as how many legs in an accumulator have already won and how the rest are faring.
Betting platforms typically automate this calculation, so you’ll see your Cash Out, amount directly on your bet slip.
On some sites, the Cash Out value appears as soon as you place your bet, adjusting as the bet progresses. Others only make Cash Out available if your bet is progressing well and has a strong chance of winning.
Bookmakers also include a margin, sometimes called the “vig”, which slightly reduces the payout to cover their risk. This can be estimated with another formula:
Cash Out Amount = (Potential Payout / Live Odds) x (1 – Vig).
Some bookmakers will gradually increase your Cash Out value as your bet looks more likely to win, but others cap the maximum amount you can cash out, no matter how promising your bet looks and how close you are to winning.
For example, Betano offers a maximum Cash Out of ₦500,000, so even if your expected winnings exceed that and your bet is on the verge of winning the full payout, this bookmaker won’t offer more than ₦500,000 cash out.
This is why it’s important to understand each platform’s Cash Out rules. Knowing the limits and options helps you make the best call on when to cash out and secure your returns.
And remember, Cash Out is only available before the game ends, so timing is everything if you want to make the most of this feature.
Predict 6 Scores Win ₦10.000.000
Types of Cash Out Options
Depending on the betting site you use, will come across several Cash Out options, including:
-
Full Cash Out:
This is the standard option offered by most betting sites. It involves closing out the entire bet, taking whatever payout is available at that moment. Once you fully cash out, there’s no going back, so it’s best for situations where you’re fairly certain the bet won’t make it to the end.
-
Partial Cash Out:
Not available on all platforms, Partial Cash Out is similar to full Cash Out but allows you to cash out a portion of your winnings while leaving the rest of your stake in play. This lets you decide how much of your winnings you want to cash out, and the bookmaker will adjust your stake and potential winnings for the remaining bet.
Partial Cash Out is ideal for long accumulators with only a few legs left, as it lets you secure profit while still having a shot at the full win.
This option is, in our opinion, the best as it allows you secure a profit no matter what happens to the rest of your bet. Of course, you might regret it if the remaining bet goes on to win, but it’s better than losing everything if your bet cuts.
-
Auto Cash Out:
With this option, you can set a target amount. When your payout reaches this amount, the system cashes out automatically. This is useful when you can’t keep an eye on your bet, especially for accumulators with events starting while you’re busy.
-
Edit My Bet:
This feature isn’t really a cash out option, but one some bookmakers have come up with to make betting on their platforms more enticing for punters.
Edit My Bet allows you to modify your running bet without cancelling it entirely. You can adjust your stake, swap selections, or even add or remove options on the slip. Once you make these changes, the cash out amount typically drops slightly, as this is the bookmaker’s way of managing their risk.
110% Welcome Bonus Up to ₦50.000
When to Cash Out Your Bets
Cashing out can be tempting, especially when the payout is really attractive, and you’re already guaranteed a handsome profit with only a few legs remaining on your bet. Or when a bet looks shaky and you’re unsure about a comeback.
These are some of the things you’ll want to consider before pressing that cash out button:
Your Team’s Leading, But the Game’s Looking Shaky
Cashing out is smart when your team or chosen player is ahead but struggling to hold the lead. This could be because the momentum has shifted or other factors such as injuries or a dismissal. Rather than risk a last-minute upset or unexpected equaliser, you can take a full or partial cash out to ensure you take home some profit.
Minimising Losses
Another good reason to cash out is when your bet is looking less and less likely to come off. In this case, you can recoup some of your stake instead of losing it all. While you won’t get back your full stake, it’s better than losing everything.
Managing Risk on Accumulator Bets
Cash Out is especially useful for accumulators where several legs have already won, and only one or two remain. Or when you have an accumulator where one of your selections is looking shaky. If your Cash Out value is attractive, it might be wise to take it, particularly with partial Cash Out, to lock in profit without risking the entire bet.
Pre-Game Cash Out
Some bookies lock the Cash Out option as soon as a game begins if that event isn’t available for live betting. As we’ve discussed, bookmakers rely on live odds to calculate Cash Out values, so if an event isn’t live, there’s no way to determine a Cash Out amount. This means if the match doesn’t go in your favour, you might end up losing your full stake.
If you’ve placed an accumulator with selections that aren’t available in live betting, consider cashing out before kickoff – especially if the current Cash Out value already shows a solid profit.
Plus, if there’s fresh information before the event, like a player injury or adverse weather conditions, cashing out beforehand could help you lock in your gains without risking an unexpected turn that could impact your bet’s outcome.
110% Welcome Bonus Up to ₦50.000When to Hold Off on Cashing Out Your Bet
While the Cash Out feature is generally beneficial to bettors, there are times when sticking with your original bet and letting it ride to the end can be smarter. Here are moments to consider holding off:
When There’s Still Time for a Comeback
If you’ve backed a strong team or player that’s behind early on but has plenty of time left, you might want to wait before cashing out. Strong favourites often stage comebacks, particularly at home, and cashing out too early could mean missing out on a full slate.
For example, this season, Arsenal scored twice in the dying minutes to edge past Leicester City after falling behind, and Real Madrid rallied from a two-goal deficit to score five goals in the second half against Dortmund in the Champions League. In cases like these, if you’d cashed out, you would have thrown away good money, so it is often worthwhile to trust favourites to come through even if they start poorly.
If You’re on a Solid Single Bet
Cash Out is particularly advisable for accumulators, where each added leg increases the risk. However, with single bets – especially if you’ve backed a strong favourite – it’s often best to let it play out.
Betting on a well-favoured team or individual and cashing out at the first hint of trouble might mean sacrificing potential profit without good reason.
When Chasing a Big Win
If you’re aiming to land a large payout, then it is better to let your bet ride till the end. This is because you’ll suffer great regret if you cash out and your original bet goes on to win. So, if you can withstand a bit of pressure, then you might be better served to let your bet play out when aiming for a big payout.
Give a boost to your next sports bet
How to Cash Out Your Bets
- Sign in to your betting account.
- Click on the “Open Bets” tab to see your active bets and their cash out values.
- Select the Cash Out value for your bet. Depending on the platform, you may see options like Full Cash Out, Partial Cash Out, or Auto Cash Out.
- Choose your preferred Cash Out option and confirm your selection.
Once confirmed, the cash out amount will immediately reflect in your betting balance.
Predict 6 Scores Win ₦10.000.000Our Opinion: Making Cash Out Work for You
Using Cash Out is particularly effective for accumulators, where risk builds up with each leg added. By the time you’re down to the final legs, cashing out can let you take home some profit without risking the entire bet.
For single bets – especially if they’re on a strong favourite – holding off might offer a better chance of maximising returns.
To use the Cash Out feature effectively, it’s all about understanding the game and knowing your bets and goals. Research the betting options your bookie offers, understand how Cash Out impacts the payout, and decide whether full or partial Cash Out is the best choice for the situation.
Hopefully, this guide has given you a good sense of when to use Cash Out – and when to hold off and let your bet play out.
And, for more insightful guides on sports betting strategies to make you a profitable bettor, make sure to check out our betting guide pages.