One of the market-leading sports betting providers in the US, FanDuel, has a feature that sets it apart from other US sportsbooks. The option to cash out your wager early.
When it launched its mobile betting app in 2018, the DFS operator turned sportsbook added the FanDuel sportsbook cash out feature which gives sports bettors the opportunity to cut-their-losses and increase their winnings.
For anyone looking to make money betting online, having a cash out button readily available for active bets is a fantastic option. With that said, let’s take a look at the FanDuel cash out rules, how to use this feature, and more.
If you haven’t yet signed up to FanDuel, you can create a sportsbook account at sportsbook.fanduel.com and claim a $1,000 new player free bet.
The fundamental premise behind ‘Cash Out’ is that it allows users to get money back on their bet before the event you have wagered on is over. The amount of money you get back will be sorted at the time of cashing out. Additionally and unsurprisingly, the amount will be determined on the current likelihood of that bet winning or losing. If you decide to use the FanDuel cash out early option, the money you get back could be greater or less than the initial stake.
The SBK cash out feature is offered as part of live betting or –in-play betting. These are wagers that are placed on an event that is currently taking place. Players see these wagers as an exciting way of making money on FanDuel. For example, you could bet on an NFL match that has already kicked off after you have assessed the beginning. This may influence how you feel the game will go, and using cash out gives you an option of getting out of a bet if the match doesn’t start how you thought it would.
Cash out allows you to settle a bet before the end of a sporting event if you feel your best is not going to win. Because the status of the wagers is updated in real-time, sports bettors can wait for the next significant action to take place, such as a basket made or field goal attempted to determine the most opportune moment to cash out and cut your losses.
Like with any form of gambling, you won’t always be correct. However, by choosing the ‘cash me out’ option, you will win more bets than you would if cashout on the app wasn’t an option. Please be aware that FanDuel’s ‘Cash Out’ option is not available for every bet. However, if you are only interested in using this option, you can choose to make just ‘Cash Out’ wagers if you wish.
The FanDuel sportsbook website and the app have an active bets tab alongside a cash out button at the bottom of the homepage.
There are now several US sportsbooks with cash out features enabled. We have a whole separate guide on these sportsbooks but the top 3 are
The above sportsbooks also include generous bonus offers, including a matched betting offer worth up t0 $1,000.
Bettors may think there is a link between the FanDuel Cash Out and withdrawing funds; however, this isn’t the case. Using a FanDuel prepaid card to withdraw your winnings and access your FanDuel bonus cash has nothing to do with cash out.
Ultimately, the cash out option is a way of backing out your live in-play wager should you feel it may lose or it looks like turning into a losing one. It is helpful to think of cash out as a form of bet insurance. You have the fallback option of getting out of a wager before it turns ugly and limiting the potential damage of a loss.
It is critical to be aware that not all wagers will be available for cash out. However, FanDuel cash out eligibility will apply for most live in-play wagers. This simply allows you to lock in your profit early or cut your losses in real-time.
You will know your bet will be eligible for a Cash Out if you are offered a ‘Cash Out Value.’ This will be displayed on your bet slip in the FanDuel Sportsbook ‘Active Bets’ tab.
When you are perusing the active bets section, you will notice a green cash out button with the attached cash out value if it is available. When you click this green button, you will be asked to confirm that you are looking to cash out your wager. Once you are happy to proceed, the sportsbook will either accept or reject your cash out request.
When FanDuel has accepted your cash out request, the value of the money you will receive will be what was initially shown as your ‘Cash Out Value’ in the beginning of the process. This money will then be transferred instantly into your FanDuel account.
The Cash Out feature on FanDuel offers far more than simply being able to cut your losses. One of the principles of cash out is to make sports betting a far more interactive experience than it has been in the past. The interactivity when you cash out your bet gives customers a complete sense of control of their destiny, and it is a huge selling point for FanDuel.
Bettors love it when they are offered a cash out opportunity. It adds a layer of entertainment and gives customers the chance to ‘close’ their bet, so they can bet on another game. This is a win-win scenario for the player as they can then bet again, and FanDuel can buy back the bet at better than market value.
How long does it take for FanDuel to payout?
FanDuel states that customers should allow four to six business days for funds to appear in their accounts. However, typically money will be transferred within 48 hours. Please be aware that players can only withdraw to a PrePaid card or PayPal if they used those methods to deposit.
How is cashout calculated?
Cash out is calculated by using the potential winnings from a wager alongside the current odds you get if the wager was placed now. For example, if you bet on the 49ers to win before the match and they are leading at halftime, the odds will be shortened to reflect the current score.
Why can’t I withdraw money from FanDuel?
One of the main reasons preventing you from withdrawing from FanDuel is you may be attempting to withdraw bonus funds without clearing the wagering requirements first.
Does FanDuel charge monthly?
No, the sportsbook will not charge you monthly. However, if you haven’t made any bets or deposits for two years, the sportsbook will charge you $3 per month.