Best US Sportsbooks with Cash Out feature

What is a Sportsbook Cash Out Bet?

Before looking for the best betting sites with cash out, it is helpful to know what the tool is before signing up a betting site. Some sportsbooks may use a different name for the cash out option, but most will offer it in some form. For example, some betting sites may use ‘buy out‘ or ‘early settlement‘. Whatever it is called, it works in the same way across all betting sites.

The main idea being cash out is to give bettors the ability to settle a bet during a game, thus accepting a payout less than the original amount before the event ends. The advantage of taking the Cashout option is that you guarantee some profit that you can bank regardless of how the bet eventually gets settled.

Example of Sportsbook Cash Out Tool

Let’s say that the Seattle Seahawks are playing against the Los Angeles Rams. The odds on the Seahawks to win are +100, so by reading the plus sign in the American odds format, we can determine that they are the underdogs. You put a $10 on the Seahawks to cause an upset and beat the Rams.

For example, if you place a $10 bet at odds of +100 on an NFL game. You decide to get behind the Seattle Seahawks to beat the Los Angeles Rams. The total amount you could win in the traditional way from this bet would be $20, as you would get $10 in winnings and your original stake back. However, let’s look at a scenario where the Seahawks are up by 1TD with 5 minutes left on the clock. You are in a decent position to win the bet; however, you are slightly concerned that the Rams still have time to come back. You don’t want to risk losing too much money, so you choose to use the cash out feature.

Bet	Stake	Odds	Full Potential Return	Cash Out Offer with 5 Minutes To Go
Seattle Seahawks to Win	$10	+100	$20	$16

Now, with 5 minutes left on the clock, the Seahawks are up by 1 touchdown. If the score stays the same, you stand to win your bet, but the Rams only need to score one touchdown and convert one field kick to steal the win. As the game is going in your favour so far, you will have a generous cash out offer on the table. You are only losing out on $4 to win some peace of mind and cash out – and remember, if the Seahawks do lose the game, then you will not even get $16, but nothing at all.

If you cash out, you can lock that $16 firmly in the bank, and even start the proceedings to withdraw that money. Alternatively, you can cash out the $16 and then put it straight into another bet. Once that is done, you can sit back and enjoy the last 5 minutes without any of the pressure, and see what happens.

There will be times when your bet will come through anyway, in which case you missed out on that $4. But in other cases, you will have made the right decision. If the Rams did push through for a touchdown and leveled the score, your cash out offer will drop tremendously, possibly lower than the $10 you staked.

Tips for Cash Out Strategy

A good betting tip when using cash out is to ensure you are watching the event if you can via a live stream, as you can then make a better judgment on whether to leave the wager early. Another betting tip is to recognise when you have a good offer on the table, and not to leave your cash out decision too late. Just as the odds fluctuate up and down, your offer will as well.

Sportsbooks with cash out option are so popular among sports bettors as they offer an element of excitement and give them the chance to guarantee some profits. Moreover, you can also reduce your losses and at least take something from the bet, which is vital in the online gambling world.

Once you placed bet, cash out is offered while the event is ongoing, so it can also be viewed as a live betting feature; which is why these live betting strategies can be handy when playing at a sportsbook with this option. However, cash outs could also be offered halfway through the season on long-term futures bets, such as the Super Bowl winner or NBA Champion.

Should You Use the Cash Out Option?

There are two significant benefits for sports bettors if they decide to utilize the cash out option. The first is that bettors can firmly secure their winnings without worrying about how the bet may end up. Live sports events can change dramatically towards the end with twists and turns, so you reduce the variance by using cash out. It gives you some degree of control. Secondly, bettors mitigate losses if things are going particularly badly. Losing a bet is never easy to take, but if you can take at least something the sportsbook offers, it is not a total loss.

Sports betting cash out has a considerable element of give and take between the bettor and the sportsbook. When you decide you want to cash out a winning bet for a profit. The profit will naturally be less than the maximum amount you would win if you let the bet play out. Essentially, the bettor is giving the sportsbook some return, while the take is that the bettor is also reducing their risk and winning some money no matter what. Cash out can also be a viable alternative if you need to cancel a misplaced bet before a game begins and the sportsbook doesn’t let you.

Whether you are in New Jersey using NJ sportsbooks with a cash out option, or anywhere else in the US where sports betting is legal, ultimately the final choice comes down to you and how confident you are to ride the bet out, or cut your losses.

How to Use Cash Out Feature

Cash outs are available on most sports betting sites via a desktop or mobile device. If you want to get yourself out of a bet, you can see the cash out offer on your live betting slip or any current bets that are showing on your account. For example, if you have placed several football bets, you will see your football betting slips’ cash out option.

If a sportsbook offers the cash out option, you can click the relevant button and choose to buy yourself out of the bet for the amount the sportsbook offers. When you have confirmed the cash out, the money will instantly appear in your account. For example, with the BetMGM Cash out feature, if your bet is eligible to end early, you will see the cash out button available.

Please be aware that cash out is not offered for every bet. Online sportsbooks have different rules and regulations for individual offers, such as cash outs, so you must check the rules on what is offered and how the feature works at the sportsbook you are betting with.

Why Do Sportsbooks Offer Cash Out?

There are benefits to both sportsbooks and the bettor when it comes to using cash out. The obvious advantage to the bettor is that they can guarantee themselves a profit or cut down on losses, and this also applies to the sportsbook. If a sportsbook offers you the chance to cash out on a bet that is winning, it won’t be for the total amount, so this saves the sportsbook money if a bettor accepts their cash out offer. If the bet is losing and the bettor decides to cash out, the sportsbook guarantees their own win while also keeping the bettor engaged and not turning them off.

The major US betting sites such as DraftKings sportsbook, typically offer fantastic odds on futures bets. So, if at the beginning of the NFL season you bet on a team to win the Super Bowl, and they reach the playoffs with a fantastic record, you can use the DraftKings sportsbook cash out to lock in a nice profit.

Now, this may not be for the total amount of the initial bet; however, things can completely change in the playoffs, and even though the team you bet on looks strong, they could easily lose in the first round of the playoffs, and the bettor wins nothing. Sports betting sites frequently offer incentives like these to keep bettors active and get them playing.

Any sports betting site that wants to attract customers will offer this feature as a betting option on their desktop and sports betting app. If a sports bettor is choosing between numerous online sports betting sites, the sportsbook app offering an efficient auto cash out service will have more chance of attracting new custom.

Pros & Cons of Using Cash Out

The cash out feature instantly became very popular with bettors when it was introduced. Many sports betting sites realized they had to launch a version of cash out as players were using it as part of their betting strategy.

Pros

Luck becomes less of a factor: Of course, luck plays a huge role in sports betting. You can think you have done all of your preparation and research before placing your wager, only to see an injury completely derail your plans. Cash out gives you more flexibility and control over variance as you can lock in some profits and reduce your losses.

Simple to use: Using the cash out feature is straightforward, so you don’t need to use any extra time to ensure you are using it correctly.

Can use cash out to score large profits: If your strategy includes using multiple bets and targeting high odds, using cash out can be very helpful. You can avoid the pain of losing a 10 leg parlay by utilizing cash out.

Cons

Lower value: When offering cash out, an operator is essentially ‘buying’ out your bet at a discounted price. If the bookie feels the the wager is worth $10, they might offer $9.50, so the cash out feature is like selling them your bet for less than face value.

Lower profits: Whenever you use the cash out option, you will naturally get less money than you would if you just let the bet play out.

Not included in promos: Every online sportsbook site offers welcome bonuses and promotions. Most of the terms and conditions associated with these bonuses exclude cash out. Make sure you check the wagering requirements on bonuses on betting apps with cash out.

How is Cash Out Calculated?

A ‘cash out calculator’ works based on odds offered on any sports bet. The book will come up with a value based on different factors and provide this price for the customer. With a cash out offer, the final price is what the betting sites decide is the wager’s current value.

As in-game betting continues to grow in the licensed US betting market, sportsbooks are becoming more efficient with the live sports odds they offer. Furthermore, sports betting platforms are also getting more proficient in the prices they offer for cash outs.

With standard betting types such as Point Spread and Moneyline bets, determining a bet’s value is straightforward. However, with other kinds of bets such as Futures, prop bets and Parlays, things can get a little more complicated. Future bets have a long time to run before they get settled, and plenty of things can change in that time. Parlays have numerous legs, so if there are several legs of the bet still to go, it becomes difficult for the bettor to decide if they should cash out or not.

Ultimately, a cash out bet is decided by real-time odds and removing the risk based on the original wager amount.

Can You Go Back on a Cash Out Offer?

Any cash out offered by betting sites is final. Once you have accepted cash out, the bet is settled at the current confirmed price. If you feel you have gone too early, you cannot go back to the book and claim the initial wager’s maximum amount. This highlights the whole risk/reward element of cash out if it is available. The odds constantly change, so it is about maximizing the value at the right time.

What Does Cash Out Suspended Mean?

If you want to cash out but are seeing a message stating the betting option has been suspended, it means an incident has occurred during the event you have bet on. This could be a goal or a free kick in a soccer game, or a touchdown in an NFL match. As the seconds following those events can drastically turn the tide in a game, the live betting markets and the cash out function will be suspended for a short time.

The cash out will go live again once the pivotal piece of action is finished, and the offer will adjust in relation to what happened.

For example, let’s say a penalty is awarded in a soccer game. The score is 1-0 and there is 10 minutes left to play. The team that is behind has the penalty and with it the perfect chance to bring the scores level. If you have a bet riding on the game, then the cash out offer will be taken off the table at that moment. If the team scores, then the teams will be level, and with 10 minutes left to go the end will be a scramble. However, should they miss, then you can expect the cash out offer you had before the penalty to be brought back.

Early Cash Out Strategy

In the sports world, things can change very quickly. For instance, an NFL game could look completely over with 10 minutes left on the clock before Tom Brady embarks on one of his famous fourth quarter comebacks. Bettors will be used to these situations which means when wagering on games it is very useful to have a little insurance on your side one it looks like one team is running away with it, to cut your losses.

Early cash out betting is the perfect way to do this. All of the legal sportsbooks we have listed on this page offer this feature, and it is becoming increasingly popular. You must decide quickly to get the full benefit when using it, but the final choice resides with you and what works best.

With early cash out, if a minimum profit still works for you, take it. If you wouldn’t be happy with that and want some bigger returns, you can ride it out and see what happens.