Cash Out Betting

The origin of cash out betting come from sports betting exchanges, which started to boom at the turn of the century. Let’s say you back Chelsea to win a match. You lose faith in this selection, so you go to a betting exchange to place a ‘lay bet’ on Chelsea not winning that same match. This means you are essentially looking to mitigate the risk you took with your initial bet. 

Cashing out is essentially selling your position to a bookmaker at a price they set, which is a little bit like laying your bet but not quite.

The option to cash out has shaken up traditional sports betting in the last decade or so. Punters love the control it gives them when the unexpected happens. But, is there any real value in it? This guide will walk you through what cashing out is and when it’s smart to take the offer. 

💰What is “Cashing Out” in betting? 

The concept of cashing out bets can be traced back to betting exchanges, which are peer-to-peer platforms where people bet against each other as opposed to wagering with a traditional bookmaker. The exchange’s flexible format allows for a broader scope of betting activity, including the ability to ‘trade out’ your bets on the markets. People loved this new level of involvement in their sports bets, and cash out options were adopted by mainstream bookmakers in the early 2010s. 

Cashing out offers you a payout on your bet before the outcome has been reached. It’s commonly associated with football but is also popular in basketball, horse racing, tennis and cricket markets.

Here are a few scenarios where you might consider cashing out early:

• All of your selections in your accumulator have won so far, but you’re unsure about your last selection.

• The cash out offer is higher than your stake and you don’t want to risk not making profit.

• You are considering laying off the bet on an exchange but don’t have the liquid cash to do it.

• A key player in the team you backed is injured early in the game.

• Your knowledge of prior games suggests it’s the least risky choice.

• You made an ante-post bet that’s looking unlikely.

Cashing out is considered to be a low-risk option, but it’s not always the smartest move. You’ll be offered lower odds and often be put in a position where you have to make quick and potentially poorly-informed decisions. This guide will tell you everything you need to stay level-headed when you’re offered a cash out price. 

How to cash out your bets?

Cashing out has become exponentially more popular in the last few years. Most bookmakers have responded to this demand and offer some form of cash out option. It’s often only available on certain fixtures or competitions, so don’t assume it’ll always be there.

Let’s take a look at three of the top UK bookmakers where you can cash out bets:

Cashing out bets on bet365

Cashing out is available for single and multiple bets on some events at bet365, both pre-match and in-play. Keep in mind that cashed out bets won’t contribute to releasing your ‘Bet Credits’ if you have recently signed up for an account.

Here are some sports where you can cash out at bet365:

• Horse racing

• Cricket

• Basketball

• Tennis

• Soccer

You won’t be able to cash out on ‘Parlay Cards’, ‘Teasers’ or ‘Fixed Teaser Cards’ at bet365. To check the cash out price of your eligible bets, click the ‘My Bets’ tab where you can find the ‘Cash Out’ button below your selection.

>Go to Bet365

Cashing out bets on Betfred

You can cash out on most singles, multiples and accumulators at Betfred.

Betfred offers partial cashout options on some fixtures. This is where you can cash out a percentage of your bet and keep the rest in play, giving bettors a chance to limit losses without fully taking themselves out of the game.

Betfred offers cash out options for most core betting markets, including football and horse racing. It’s also a great choice if you’re interested in more niche markets such as darts and table tennis.

>Go to Betfred

Cashing out bets on Unibet

You can cash out on all single and multiple pre-match bets on football at Unibet. If the ‘Cash Out’ logo appears in your betslip you can accept the offer and funds will be added to your balance immediately. 

While the cash out options might be more limited than other top UK bookmakers, Unibet’s unique cash out promotion earns it a spot on this list. Unibet awards prizes for the best and the unluckiest cash out each week. Players can enter by tweeting screenshots with the hashtag #cashoutking.

💵Why should you cash out your bets?

Cashing out can be an excellent way to tackle unexpected situations, but smart bettors don’t rely on it too often.

Cashing out can be a profitable way to escape risky accumulator bets that haven’t been completed yet. If five out of your six bets have won and you’re offered a nice sum of money, it might give you some peace of mind to take the offer.

If something unpredictable happens that affects your bet, such as retirement or injury, you might want to cut your losses as early as possible. In cases like this, cashing out can be a lifeline.

While there’s definitely a time and a place for cashing out bets, it’s not always your strongest option. You’ll be offered worse odds if you want to cash out early, and the bookmaker’s margin will wreck your bottom line over time. 

There are a huge number of reasons you might not be able to cash out a bet. It’s not offered by every bookmaker, and it’s only possible with a limited choice of sports. 

Cashing out is often unavailable due to suspensions. Markets are suspended when a match incident occurs. This could be something like a free kick or a goal, or it could be something internal on the bookmaker’s side. Either way, be prepared for a suspension right when you want to cash out the most.

📈Cash out strategies to consider when betting

Here are some strategies to consider when a bookmaker offers you a cash out option: 

Consider laying the bet instead: Cashing out is essentially selling your position back to a bookmaker at a price they set, meaning you could avoid the bookmaker’s margin by doing it yourself. You’ll need to make an account at a betting exchange and bet against your original prediction. This isn’t always possible: it can get a little technical, and many punters don’t have the liquid cash to lay some of their bets. But if you get the hang of it, it could provide more profit in the long run.

Capitalise on the unexpected: If you’ve backed an underdog and they take the lead, you may be offered a substantial cash out. If you’ve secured a profit (or don’t have much faith in them winning overall), you might consider taking the opportunity.

Have a plan: Think about your strategy before the match kicks off. Some bookmakers offer an ‘auto cashout’ option, where you’ll have your bet cashed out automatically if it reaches a certain value. This can be a good option if you’re backing an underdog.

Play smart, but stand your ground: Bookmakers love cash out betting. Many punters see an offer in front of them and worry they’ll regret turning it down, potentially missing out on bigger, predictable wins. 

Watch the game closely: Study the gameplay, look out for momentum shifts and keep an eye on news sources for updates. Don’t just focus on the figure you’re offered, shake your biases and ask yourself if it’s worth holding out.

❌Common mistakes to avoid with cash out bets

Watch out for these common errors bettors make when considering cash out offers:

Timing is everything: Cashing out too early means you’re taking worse returns than you signed up for when you made your bet. But if you leave it too late, you risk the market being suspended or missing your chance entirely. Don’t make emotional decisions, even when confronted with time limited offers

Don’t misuse it: Cashing out too many bets will ruin your betting portfolio over time since the bookmaker takes a significant margin. Never use the possibility of cashing out as a reason to bet more than you can afford.

Placing cash out bets on different sports

A growing number of UK bookmakers offer some form of cashing out option on a selection of sports. Brits mostly tend to cash out on ante-post and accumulator bets made on horse racing and football. Some bookmakers offer the option for other niche sports such as snooker, esports and ice hockey.

⚽Football

Thanks to its popularity, cash out options are available on football bets at many UK bookmakers.

Your cash out offer is calculated on multiple factors, including things like the duration of time left or significant moments in-play – even something as simple as a change in possession can affect the value of your figure. When contemplating an offer, it’s worth taking a step back and considering the match as a whole. If your team performs well towards the end of matches, it may be worth holding firm.

Football accumulators are one of the more frequently cashed-out bets. Bettors often secure significant profits on ambitious 20+ leg bets by cashing out early on.

Cashing out is common for antepost bets on most sports, but it’s offered most frequently in football. For example, if you bet on a team to win months before the World Cup begins and it’s looking unlikely, then it might be an idea to cut your losses.

🏀Basketball

Cashing out is very popular in basketball, due to the volatile nature of the matches and the frequent changes in personnel on court. NBA athletes suffer a high rate of game related injuries compared to other sports. Let’s say you’ve bet on the Nuggets to win and Nikola Jokić goes down in the first couple of minutes. This would be a good opportunity to consider cashing out your bet, since the logic you’d placed that bet on is now irrelevant. 

Since injury is so common in basketball, it’s particularly common to see bettors use cash out options to cut losses in accumulators.

A number of NBA cashouts have gone viral as some of the biggest of all time. In 2023, American-based punter Wayne Shelton placed a $100 parlay worth $1.7 million and cashed out at over $80,000. So, on occasion, cashing out can score you a life-changing amount of money.

🥎Tennis

Understanding momentum development is key to figuring out who might win a tennis match, and it can help you cash out smartly.

Tennis is known to involve fast momentum changes, which can happen for a huge number of reasons. A change in game strategy, a medical timeout, a missed shot and pretty much anything else can disrupt the entire rhythm of the game. The WTA and the ATP chart momentum, but it can be ascertained through a player's body language. If you spot these patterns working against your prediction, you might want to consider cashing out your bet. 

Conclusion

Cashing out is a handy option to have at your disposal, but it should never be your ‘Plan A’. There’s a time and a place for it; such as securing unexpected profits, mitigating risk on ambitious accumulator bets or changing your mind on an ante-post bet. As long as you don’t make rushed, ill-informed decisions, the option to cash out creates peace of mind that improves the overall betting experience.

While cashing out bets is thought to be a less risky choice, risk is an inherent element of betting. Don’t use cash out options as a reason to gamble more than you can afford, and never gamble more than 1% of your income. If you think gambling is starting to affect your life negatively, organisations are available to provide 24/7 support.