Have you ever wanted to collect your winnings before a bet has been settled? Have you ever placed a bet and wished you could quit while you’re ahead? Well, early cash out betting might be for you.
The early cash out feature can often be an extremely useful tool for sports bettors, with many punters utilizing the feature to lock in a profit before the outcome changes or avoid throwing away more money on a losing bet.
In this early cash out sports betting guide, we cover all the ins and outs of the feature, share a couple of cash out examples and go over the pros and cons of the tool.
What is an Early Cash Out in Sports Betting?
Essentially, the cash out feature enables you to end your bet before the sports event finishes. Not all sports betting markets allow you to use the cash out tool, but you can cash out on lots of different wagers.
Cashing out is a way for bettors to protect themselves against unpredictable turns in sports contests, meaning the rest of match is rendered irrelevant. Although the cash out amount is always lower than the original payout, you can still make a profit or avoid taking a heavier loss.
For example, let’s say you back Manchester City to defeat Arsenal in the Premier League. You place a $100 stake on the moneyline price of -110, meaning you will receive a $90.91 profit if the bet lands.
With five minutes remaining, Man City is winning 1-0. The bookies are offering you a cash out price of $50, so you will still make a profit if the bets come in. You can either wait to receive your full payout of $90.91 or take the $50 early. Remember – Arsenal could equalize, and you could lose everything.
Cash outs are typically used for in-play bets, including moneylines, spreads, totals and props. However, some sportsbooks also give you the chance to cash out on futures.
Early Cash Out Betting Pros and Cons
Let’s wrap things up by looking at some of the advantages and disadvantages of early cash out sports betting. The cash out feature has its benefits, but it also comes with some drawbacks.
Pro – You have more control over the outcome of your bet and can decide exactly when you want to end the wager.
Pro – Cash out protects you against unexpected twists in a game and can help you avoid bad beats.
Pro – The feature enables you to secure profits and reduce losses, keeping sports betting fun.
Con – You could lock in a loss and then find out that your bet eventually came to fruition.
Con – The early payout price is always lower than the potential winning payout of your original wager.
Con – If you use the cash out feature in the wrong way, you could end up losing money in the long run.
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