Cash Out Betting Sites

Betting sites calculate the amount they offer for a cash out in basically the same way they offer normal odds: calculating the probability of the result and adding a margin for their own profit.

In practice, it might look something like this

• Boston Bruins vs. New York Islanders
• Bruins to win @ -110
• $10 wager

The potential payout of this wager would be about $19 if you let it ride the entire game and win. So let's break it down into a few different scenarios after the end of the second period.

Bruins 2, Islanders 2 - We're basically at the start of the game here, and since the odds were so close to the start this is more or less what the betting site anticipated. So we can reasonably assume the odds are 50%, and by cutting your potential winnings in half you would have a return of $9.50, with a margin applied by the betting site, your ending cash out might be around $8.75. Sure, this is less than your bet stake, but it is cash back in your pocket on a wager that is definitely not a sure thing.

Bruins 4, Islanders 1 - The game is well in hand, and you've got about an 85% chance of winning this wager, so the possible return looks like .85*$19, or $16.15. With a margin, you could expect a cash out option of around $15, which is a guaranteed $5 profit. This is where you need to start weighing the risk vs. reward since there is a good chance the Bruins will win, but then again you can have a certain profit by cashing out. In this scenario, the sportsbook wants you to cash out, since they would limit their potential payout to you.

Bruins 0, Islanders 3 - And on the flip side, the Bruins played terribly and the Islanders are comfortably in the lead going into the final period, so the sportsbook is giving the bruins a 10% chance to win, making your return $1.90 (.10*$19). And with a margin, you would probably only be cashing out $1.50 all said and done. That's a tough pill to swallow, but hey, at least you have a little cash left instead of losing it all, and the betting site is happy to offer this cash out since they still make a nice profit.

Each betting site in the US calculates their cash out margins slightly differently, but this is roughly the idea behind how it gets calculated, with each setup having the bookmaker price your current wager in a way that makes it beneficial to them if you take the money and run, but as we keep saying, cash in the hand may just be better than a bet in the slip.

• Bet365
• BetMGM

You messed up your bet

• A very obvious time to cash out is when you've made a mistake on the bet. Maybe you didn't realize the game was going to be played during a blizzard, or maybe that star player caught the flu (discounting MJ of course), either way if you get offered a decent return that covers your stake or at least gets some money back, it might be better to just cash out and try again.
• Certain betting sites like DraftKings will actually let you cancel your wager before the event begins as long as the lines haven't changed, effectively cashing you out for free.

You could get a big profit

• Although the profit from a cashed out wager will never be as much as a winning bet, if you have the chance to cash out for some big money, it may be worth thinking about since anything can happen in sports betting, and some money is always better than no money!

Most of your parlay has hit

• We've all been there, 4 of 5 legs are winners, and then that 'safe' bet lets you down. This is a great time to cash out since the potential profit you can get from 4/5 parlay legs is still big, and you get to lock it in.

You're 'tilted'

• Tilted, having a bad run, in a slump, whatever you want to call it - this is a good time to cash out so you don't keep throwing money down the drain, and maybe even just lock in a small profit.

There's no shame in asking for help if you need it - If you or someone you know has a gambling problem, you can access crisis counseling and seek help by calling 1-800-GAMBLER (IL/NJ/ MD/PA/WV), 1-800-NEXT-STEP (AZ), 1-800-522-4700 (CO), 1-888-789-7777 (CT), 1-800-9-WITH-IT (IN), 1-800-BETS OFF (IA), 1-800-522-4700 (KS), 1-877-770-STOP (LA), 1-800-327-5050 (MA), 1-800-270-7117 (MI), 1-877-8-HOPENY (NY), 1-800-589-9966 (OH), 1-800-889-9789 (TN) or 1-888-532-3500 (VA), or visit https://www.ncpgambling.org/

Bad value

• Betting sites will always lowball the value of a wager since they want to get the most profit. But if you've got a wager on a team to win with 3 minutes left in the final quarter of an NFL game, and they're up by 11, you might not want to take a cash out that's only 75% of what you stand to make.

You have a bonus on the line

• Any wager you cash out will automatically exclude you from claiming a bonus, so make sure you really understand the value of what each promotion is, and balance that against letting your bet ride.

Low personal risk

• If you throw a couple of bucks on some long odds and somehow it seems like you might win, you might still want to let the wager ride if that money won't impact your bank account too much. But make sure you really think it through, since you could cash out and secure some profit which is always a good thing.

• BetMGM
• Bet365
• Caesars Sportsbook

These top football cash out sites all offer robust cash out features for football betting on the NFL and NCAA. When the two-minute drill comes around and a dangerous QB like Patrick Mahomes starts charging down the field, you may want to consider a cash out if you think a late score could ruin your wager completely.

Bet365 and BetMGM offer full and partial cash out options, as well as the handy auto cash out if you can't be locked into what's happening during the game. Caesars is our other top pick, only lacking the auto cash out but generally featuring a number of solid betting promotions for NFL games.

• Bet365
• Unibet
• BetMGM

A quick goal or penalty in the box can instantly shift a soccer match, especially considering how low-scoring games can be, which is a big reason we think cash out is a great feature when wagering on the sport.

• BetMGM
• FanDuel Sportsbook
• DraftKings Sportsbook

The big point swings make basketball an obvious choice for a sport to have a cash out option, and these top betting sites all allow for cash out on many different basketball leagues aside from just the NBA.

• Unibet
• Caesars Sportsbook
• Bet365

We've lost count of how many times there have been upsets in tennis, or incredible comebacks from being a single point away from losing. This is exactly what makes having a cash out option so important for tennis. Our favorite tennis cash out sites all offer great play-by-play graphics or even live streaming to help you plan your wager and decide if cashing out is the right choice.

• Caesars Sportsbook
• FanDuel Sportsbook
• BetMGM

All three of these online cash out betting sites allow you to close a wager early during a golf tournament, but you'll need to pay close attention to the value as golf can be a very unexpected sport when Sunday rolls around.