What Does ‘Cash Out’ Mean in Betting?
In betting, to “cash out” means to end a bet before the result is known and receive a payout based on the current odds. This allows bettors to lock in a profit (or limit a loss) before the outcome of the event is determined.
When Does it Make Sense to Cash Out?
Every wager is different and we all have different reasons to cash out, but it usually makes sense in the following three scenarios:
- Loss Limitation: Cashing out to limit your losses would be useful when you simply know that your selection(s) are not going to be successful. Perhaps a team goes down to far early in a game, a key player is injured or you can just see that they aren’t playing well. You’ll lose some of your stake, but at least you can recoup something and go again.
- Returning the Status Quo: There’s nothing glamorous or fulfilling about this, but it’s a good way to get most of your stake back, or perhaps even make a minor profit. A good example here would be a three-way soccer parlay where 2/3 of your selections are still tied going into the final 15 minutes. Two late goals seems unlikely, so you’ll be able to cash out for a similar amount to your initial wager.
- Take the Profit: This is the ideal situation to be in as a bettor, but it can often leave you with a decision to make. If you’re selection(s) are winning then you’ll usually be able to cash out for a substantial profit, but it will also be a lower total than the final payout would be if you win the bet. This can lead to regret if your bet wins and you accept a lower payout but is particularly satisfying if the selection is incorrect but you’ve cashed out for a large profit.
Cashing out is final. If you cash out and your selection goes on to be successful, you’ll receive the amount you cashed out for instead of the initial payout promised on the betslip.