One of the most innovative features to hit the online sports betting industry in recent years is that of the ‘cash out’ feature. For those unaware, the feature allows you to exit a bet mid-game.
On the one hand, you might choose to do this because your winning bet looks to be in danger. On the other, you might want to cut your losses and take what the sportsbook is willing to offer you!
Either way, choosing a betting site that offers a cash out feature is crucial.
Which online sportsbooks offer cash out?
Unfortunately, there is no one-size-fits-all answer to this question, as the number of sportsbooks offering the cash out feature now runs into the hundreds of platforms. In fact, you’d be hard-pressed to find a sportsbook that doesn’t offer it in 2019.
Nevertheless, if you’re looking for some specific names, the UK’s Big 5 – which consists of William Hill, Ladbrokes, Coral, Betfred, and Paddy Power, all allow you to cash out your bet mid-game.
Ultimately, your best option is to constantly check back on the AgainstFootball.org website, as we regularly update our list of the best betting sites offering cash out. Most importantly, you have the chance to read our in-depth review of the betting site before signing up. As such, you can assess the platform’s pros and cons before taking the plunge.
How does cash out actually work?
In order to understand how the cash out feature actually works, it’s best to run through a couple of quick examples.
Let’s say that you have a bet on the Wolves vs Man United game. You’ve backed United at odds of 1.90, with a stake of £100. Ordinarily, by allowing the bet to settle outright – a winning bet would pay £190. However, the cash out feature gives you an option throughout the game to exit the bet early.
Sticking with the same example, let’s say that United are winning 1-0 with 15 minutes to go. Although your bet is currently in the money, you’re concerned about the ongoing pressure being created by Wolves. As such, you explore the cash out feature and learn that the betting site is willing to pay you £160.
Although this is less than the £190 you would have got by allowing the bet to run until the end, you can guarantee your profit straightaway. As such, were Wolves to score a last-minute equalizer, it wouldn’t impact your bet as you would have already cashed out!
In a second example, let’s say that you place a £100 bet on Chelsea and Man United to draw. You receive odds of 4.0 on the bet, meaning that a draw would result in a win of £400.
With the game currently 0-0 at half-time, your bet is looking OK. However, as there are still 45 minutes to be played, you check to see what the cash out feature is offering. Interestingly, the betting site is happy to give you £150 for cashing out the bet, which amounts to odds of 1.5 on your original stake of £100.
Although this is significantly lower than the odds of 4.0 that you currently have, the offer is somewhat reasonable. On this occasion, you decide to let the bet play-out. Unfortunately, Chelsea went on to win the game, meaning that you lost the bet. In hindsight, it would have been wise to take the half-time cash out offer!