WHAT IS A SPORTSBOOK CASH OUT?
A Cash Out is a feature that allows sports bettors the ability to settle a bet and accept a payout less than the full potential win before the competition ends. The upside, if you take the offer, is locking up some profit that is yours to keep regardless of how the score/event ultimately plays out. A Cash Out allows for two things to happen that can be seen as benefits to bettors. One, bettors can lock up winnings without having to endure the risk that comes with letting a bet play out until the end of the competition. Two, bettors can cut losses if things are going really bad. Think of this second option as a forfeit of a wager.
Cash Outs are calculated just as a sportsbook would offer odds on any type of wager. The sportsbook will determine a price based on a variety of factors and offer this price to the better. With a Cash Out, the price is what the sportsbook determines as the current value of the wager. When placing a bet, you know what you’re getting into, or at least you should. You know the amount you’re wagering and you know the amounts you can win or lose. If these amounts are being properly managed within a bettor’s bankroll, winning and losing comes with the territory. By accepting a Cash Out, you’re limiting the amount you can win, and that’s going to add up in the long run.
You might be saying that you can also cut your losses. Yes, you can, but you’re also cutting off any chance the bet has to win. There have been plenty of incredible comebacks in sports. For example, the New England Patriots came back from down 28-3 with just over 6 minutes left in Super Bowl LI.
When you place a wager, you know the amount you can lose and you should give yourself maximum time (the full game or event) to win the bet and not forfeit ahead of time.