Cash out lets you close a bet before it finishes. If your bet is going well, the sportsbook offers you less than the full payout now. If it's going badly, it offers you part of your stake back.
The offer usually includes extra margin for the sportsbook, so cashing out tends to cost expected value over time.
A hedge does a similar job with a separate bet, and is often better value.
How it works
Cash out gives you control over a bet before it settles. The sportsbook works out what your bet is worth right now, takes a cut, and offers you that amount.
You can usually cash out in full, and some sportsbooks allow a partial cash out, where you settle part of your stake and leave the rest running. Some also let you set an auto cash out that triggers at a chosen amount.
The key thing to understand is that the offer is rarely fair. It's based on the current odds with extra margin added, so over many bets, cashing out costs you money compared with letting bets run.
When it might still make sense:
- You'd be genuinely upset by the loss. Locking in a result has value to you, even if it costs expected value.
- Something changed. An injury or red card might mean your bet is now worth less than the offer.
Before accepting, compare the offer with a hedge. A hedge bet at another sportsbook often locks in more, and the hedge calculator shows exactly how much.
Examples
- Example 1
A $20 bet at +300 would return $80. Late in the game it has about a 75% chance of winning, so it's worth around $60 on average. A cash out offer of $55 is $5 below that.
- Example 2
A $20 bet that's going badly might get a cash out offer of $6. Taking it saves $6 of your stake but gives up any chance of the full $80.
Common questions
Is cashing out a good idea?
Usually it costs you money over time, because the offer includes extra margin. It can make sense if locking in a result matters more to you than the expected value.
Why did my cash out option disappear?
Sportsbooks suspend cash out during key moments, like a penalty or a scoring chance, and on some markets it's never available.
What is a partial cash out?
Settling part of your bet now and leaving the rest to run. You take some money off the table while keeping some upside.