Draftkings Cash Out Article
Article

How to Cash Out on DraftKings

29 September 2022

No need to worry about a last-minute upset ruining your bet, DraftKings Cash Out feature makes sure you can end your bet early while you're still on top, or minimize loss if things aren't going your way.

DraftKings Cash Out

The Cash Out option on DraftKings Sportsbook has been a staple of the betting site since it first launched in 2018. Often overshadowed by great promotions and its slick mobile app, the Cash Out feature is a great tool for bettors and adds an incredible layer of security to your wagers by letting you settle a bet early, and has cemented itself as a key aspect of all the best betting sites in the US 

DraftKings Sportsbook Welcome Offer

  1. 20% Deposit Bonus up to $1000

    AZ/CO/CT/IL/IN/IA/KS/LA/MI/NH/NJ/NY/ OR/PA/TN/VA/WV/WY only.

The massive number of live betting markets and sports available on DraftKings Sportsbook makes it one of the best cash out betting sites in the US, and is available for pre-game, live, future, and parlay bets.

What Does Cash Out Mean on DraftKings?

Cashing out a bet is actually an incredibly simple principle on DraftKings - you can settle your bet early and take a payout before the game ends at a reduced rate. When using DraftKings cash out you'll be settling your bet depending on how the game or event goes following the bet placement, meaning you might be getting a nice profit, or just cashing out to avoid a major loss. 

If things are going well in the game for you, you'll be able to cash out for more than you wagered and turn a guaranteed profit, though it will always be less than the potential profit if you saw the bet all the way through

Why Cash Out on DraftKings?

There are a few reasons why you might want to take advantage of the DraftKings cash out feature:

  • Lock in profits - Probably the most common reason to cash out, if the odds shift in your favor during an event, or if the game is just coming to a close and you want to avoid losing on a last-minute upset hit cash out and lock in a portion of the potential profits you would earn.
  • Minimize loss - The flip side of locking in profit, you can cash out early to avoid losing all of your bet stake if things just aren't going your way. Betting isn't foolproof, but DraftKings does at least help ensure you don't totally lose out.
  • Limit parlay risk - Parlays are a riskier bet, and cashing out after winning a few of you parlay legs is a great way to guarantee a 'win' even if it is at a reduced rate. Hitting all of your parlay legs can be tough, so cashing out before that final leg has a chance to lose isn't a bad call.

Draftkings Futures Cash Out

DraftKings also offers s cash out option for futures bets - so if you wagered on a Super Bowl winner during the preseason, you can cash out early and lock in some profits or salvage some of your bet stake depending on their record when you settle. 

How to Cash Out on DraftKings

1

Sign Up For DraftKings Sportsbook

Before you can cash out a wager on Draftkings you need to sign up.

Setting up your account is easy, you just need to provide some personal details like:

  • Name, Address, DOB, SSN, Email, and ID Verification
2

Place Your Bet

DraftKings is one of the better betting sites for cash out given the option is available on almost all wagers*. You can sometimes cash out before the market goes live if odds have been influenced leading up to a match.

Popular events that feature a cash out option include:

  • Money Line
  • Parlays
  • Point Spreads
  • Props

*some bets and events don't have the cash out feature, so make sure you're comfortable with the bet before you wager, and don't bet based on cashing out

3

Cash Out

Once you placed a wager you'll see a big yellow button to Cash Out in the 'My Bets' tab of the betting site - at this point you can cash out!

This example of an NFL Parlay on DraftKings shows just how enticing cashing out can be, with a nice guaranteed profit for settling the bet early, even though the potential profit from letting the wager run is higher.

Would you have let this ride or cashed out?

What does Cash Out Suspended on Draftkings mean?

It can be incredibly frustrating when you're ready to cash out a bet for a bit of profit or if you see the result going in the wrong direction for your bet only to find 'cash out suspended' and a greyed-out button instead. 

All 'suspended' cash out means is that for the time being, or the remainder of the game, you are unable to settle your bet early. Most of the time suspended cash out is temporary, and will return after a play is reviewed, or fluctuating odds return to normal. 

Why does DraftKings suspend the cash out option?
Avery Hutchison

Avery Hutchison

Suspended cash out usually happens for a few reasons - a call being reviewed during the game (live betting suffers the most from this), or the event is in the closing minutes.

With so many unique live betting markets, DraftKings has a lot of betting to cover, and a way they make sure people can't take advantage of major odds swings coming from overturned calls or majorly unexpected events is to suspend cash out for periods of time.

The betting site is in the business of making money after all, and if the sudden changes from big plays can cause massive swings in the odds it reflects poorly on their bottom line, so suspending cash out during key periods of a game limits their risk.

The Cash Out Amount

If you're wondering how DraftKings calculates the amount offered for a cash out, it is based on the current value of the wager.

Through an event odds change, which is very clear during live betting, and this leads the betting site to set a value for cash out intended to appeal to the bettor and reduce their risk of a huge payout. With parlays and complex wagers it's a bit harder to appreciate the cash out, and it will still come down to you if you think riding out the bet for a bigger payout is worth the risk of losing it all.

DraftKings Cash Out FAQ

Can you cash out on DraftKings?

Yes, you can cash out your wager early on DraftKings on almost all bets. The feature is available for pre-game, live, future, and parlay bets - all of which have numerous markets.

How do I cash out on DraftKings?

Once you place your wager on DraftKings, just head to the 'My Bets' ta and you will see you active wagers. Below any eligible wager will be a large yellow cash out button that shows the amount you can settle your bet for immediately.

The amount you win from a cash out will always be lower than the initial potential profit from the wager, but it is guaranteed.

Why can't I cash out on DraftKings?

If you don't see a cash out option under your bet unfortunately DraftKings does not offer cash out for the wager. This is fairly uncommon, but generally happens if the market is particularly volatile, or there is a promotion attached to the wager,

If the button is greyed out and says ' suspended' the cash out feature is temporarily disabled. This will happen if a referee is reviewing a call on the field, during a penalty kick in soccer, or during other significant and game impacting scenarios. The option to cash out will come back once this scenario finishes.

When can I cash out on DraftKings?

You can cash out pretty much any time on DraftKings, including before the game even starts in some instances!

The only times you won't a able to cash out is if the option is 'suspended' while a call is being reviewed or an event like a kick is underway. This is more common on live betting markets where odds change quickly.

Can I cash out a parlay on DraftKings?

Yes, parlays are one of the more common cash out choices on DraftKings because they are generally a riskier bet. If you have a 4 leg parlay, for example, you might be interested in cashing out if you've won three of those legs to make sure you lock in some profit and don't need to worry about a bad beat!

Countries

x