What Does “Cash Out” Mean in Betting?

What Does it Mean to Cash Out in Sports Betting?

Cashing out a wager is settling a bet before the match ends. Rather than waiting until the final whistle, cashing out guarantees you a win right now, but you won’t be paid the full amount that would be due if you wait until the match ends.  

Ultimately, it’s about risk and reward. Cashing out in the 85th minute of a Premier League football match could make sense if you have backed the underdog and they are under immense pressure out on the pitch while holding onto their fragile 1-0 lead. 

But if you backed the favourite to win a match and they were cruising 2-0 with ten minutes to go, it wouldn’t make sense to cash out. 

How Does it Work?

Let’s look at an example from the English Premier League to see how cashing out works in practice. Let’s say you placed a £10 bet on Bournemouth to beat Chelsea at odds of 9/1 at the start of the match. 

It’s the 85th minute of the game at Stamford Bridge, and Bournemouth are clinging onto their 1-0 lead.  

If you wait until the match is over, you could win £90, but given that there are five minutes of normal time plus potentially 5-10 minutes of stoppage time, you might feel that Bournemouth won’t hold on to their slender lead.  So, you might be offered £55 to cash out your bet right now in the 85th minute rather than waiting until the full-time whistle.  

Is this a good deal? Well, it depends on your viewpoint and football betting strategy.  

Though cashing out would make you £35 less if Bournemouth went on to win the game, you would make £55 profit if Chelsea scored a late equaliser.  

Therefore, you need to weigh up the pros and cons of cashing out and decide for yourself if the offer you receive represents good value for money. 

Can You Make Money When You Cash Out?

Yes and no. The cash-out value offered might be lower than the stake that you initially placed depending on how the game is going. Some people still take advantage of this cash-out option, as at least it provides some money back when all hope seems to be lost.  

But in most instances, cash out becomes a valuable option when the amount offered is significantly more than the stake that you placed.  

Though you would be better off financially if you hold out until the end of the game, the fact that cash out is available immediately means that it’s a great option if you think your bet is at risk, and it can make you a tidy profit.  

Is Cash Out Always Available?

Cash out is not always available. Remember that the amount you’re offered to cash out will change throughout the game, depending on how the action unfolds.  

To continue our Chelsea v Bournemouth example, if Chelsea were to win a penalty while you were deciding whether to cash out, the option would be suspended until the penalty is taken.  

If Chelsea scored, the cash-out offer would be much lower than it was just seconds earlier, if available at all.  

This is why timing is so important when thinking about cashing out, as things can change in sports in a matter of seconds.  

Weighing up the Pros and Cons of Cashing Out

There’s not necessarily a right or wrong time to cash out a sports bet. After all, you don’t have a crystal ball, and it’s impossible to know what will happen in the next few seconds or minutes. Therefore, you should weigh up the following pros and cons of cashing out before deciding if it’s a good option for you:  

Pros of cashing out  

• Cashing out a sports bet removes some of the anxiety associated with sports betting and puts you in control of when to bring an end to your wager.  
• If you change your mind when the action is live, you can cash out your wager and walk away with some funds.  
• If you get the timing right, cashing out a sports bet can be profitable, particularly if something unexpected happens late in a sports fixture. 

Cons of cashing out  

• The biggest drawback to cashing out is that you give up a sizeable profit if you cash out and your original wager wins.  
• If you’re not paying attention to the live action, the cash-out offer might be withdrawn due to something that happens during the game, causing you to miss out.  
• Cash-out options are not available for all bets, and you can’t usually cash out when you place bets using bonus funds. 

Cash Out Tips & Strategy

So, to cash out or not to cash out, that is the question! Here are some handy tips that you can bear in mind after placing your sports bets, which will help you decide if cashing out is a savvy move: 

• Cashing out too early can cost you a lot of potential profit going forward. A lot can happen during football, rugby union, and basketball matches, so let your wager play out before deciding.  
• Always research and use statistics to help you decide if cashing out is a good option. For instance, if you know the team you have bet on concedes many late goals, cashing out before the final 5-10 minutes could be a smart move.  
• Set yourself a cash-out target. If you are offered that amount of money during the game, you can decide to cash out as you are happy with the amount you have been offered.  
• Ensure you’re paying attention to the game in question if you plan to cash out. As mentioned, a lot can change in sports in just a few seconds, so you need to be on the ball!  

Can you Cash Out at Parimatch?

Yes, you can cash out at Parimatch. We offer cash-out options on many sports, including football, rugby, and basketball. 

To place sports bets at Parimatch, you need to first create an account. Head to our homepage and sign up by submitting your personal details. We will then verify your account via SMS, and you can then make a real-money deposit to fund your sports betting.  

When betting on sports at Parimatch, please remember to gamble responsibly – see our Safer Gambling Portal to learn about setting deposit limits, opt-out options and other tools to help you stay in control. Online gambling should be fun, so please set your limits and remain in control. 

Cash Out in Betting FAQs

Why is cash out unavailable?  

Cash-out can be unavailable for several reasons. It might not be available on the sport you have bet on, or the market may have been suspended because of something that happened during the game (a penalty in football, for instance).  

Can I cash out on mobile?  

Yes, you can cash out on the Parimatch mobile app. This is a good strategy, as you can access the cash-out option directly from your smartphone throughout the game. 

When is the best time to cash out? 

It’s difficult to say when the best time to cash out is, as it depends on so many factors. Therefore, you should weigh the pros and cons of cashing out and set yourself a target before deciding to cash out each sports bet you place.