What is ‘cash out’ option in sports betting?
Many bookmakers offer the Cash out option, which some sites display as “close bet” or “sell”. Cash out is where you can cancel a bet before the time of the sporting events has expired. This is done in order to reduce the risk of total loss and make sure you get more money than you bet. To learn more about cashing out, read our article to the end.
Why should I use the cash out option?
If your single selections or multiple bets aren’t paying off, you can press the cash out button on the bookmaker’s site of your choice, thus protecting yourself from a total loss of funds. If your team is winning, but you are not sure about the end outcome of the match, you can close the bet and end with a small profit. These are two ways to use the cash out function.
Let me give you a quick example. Real Madrid and Barcelona are playing, and you have bet Real will win. If Barcelona takes the lead in the first 20-30 minutes, there is a real chance that you will lose what you bet. When you click on “Close bet” or “Cash out”, the bookmaker will offer you part of what you wagered for early cancellation. This means that you won’t lose your whole bet.
The other example we will give is related to how your team plays. When using the cash out function in this case, you will be offered a larger amount than what you bet. This way, you make a profit.
Which bookmakers offer the cash out feature?
Almost all online bookmakers offer cash out, but we will share a short list of ones, with which you can register and make bets. The cash out button on their sites is labelled “Close bet” or “Sell”. Here is the list of gambling operators who allow early cancellation of a bet:
… and many more
Keep in mind that cash out is not only possible when betting on football, but also for all other sports. If you don’t see the button on the site, that means the option is not available. It’s usually offered for big derbies, contested matches, and live games.