Cash Out Betting Uncovered: A Beginner's Guide

Cash Out confidence as our definitive guide to cash out betting unfolds the mysteries behind this popular option. Perfect for novices, you'll learn how to enhance your betting game using this ever-present in play betting option. Read on to arm yourself with the right information!

What Is Cash Out?

Cash out is a popular betting option that bookies have started to offer in recent years. This option allows punters to take a cash sum at any point between their bet being placed and the event finishing. 

The exact cash out amount will very much depend on how likely the bet is to win - the more money the bet is likely to cost the bookie, the more the bookie will offer you to cash out.

Cashing out is most commonly associated with, but not limited to, football accumulators. 

Not all betting sites are the same, just looking at a bookmaker list is not going to help you find the right cash out product.

As Cash Out evolves, new options are being added all the time.

Thankfully we have a dedicated cash out bookies article on site. 

What Are The Alternatives?

Traditionally punters have always had to let their bets ride but once the Betfair betting exchange became popular the option to lay bets as well as back them was introduced. 

This meant that if you were waiting on one selection for a nice payday or were getting to the late stages of a match and your team were in front you could lay the selection you had originally backed to win whatever the outcome (assuming you were able to lay at shorter odds than those at which you backed the selection).

ALSO READ

How to Effectively Use a Betting Exchange: The Ultimate Guide

The Betfair exchange is still going strong which means punters still have that option of 'shopping elsewhere' by ignoring the chance to cash out with the bookie you've placed a bet with and instead laying off your bet on an exchange and trading out for a profit.

But what should you do?

When To Cash Out

The most obvious time to cash out is when you no longer think your bet is going to win. 

Perhaps the main goalscorer for the final team in your acca has strained a muscle in the warm up and is out of action or the final horse in an acca has seen the ground go against him due to heavy rain just before a race.

Lack of Cash or Liquidity

In these circumstances, you still have the option to lay the final selection on Betfair UNLESS you don't have the capital to cover the lay bet on Betfair. 

Many punters choose to cash out bets that contain many many selections for big sums of money and they just don't have the option of depositing large amounts into Betfair to cover an outcome losing. 

So if you have lost confidence in your bet AND don't have the money to lay off on an exchange then you should definitely cash out.

It's also worth remembering you may have the money to cover the bet on the exchanges but if it's a minor event the exchange liquidity may not be high enough to cover all of your required bet.

If this is the case then cash out would be your only option of getting out of your bet.

When You Are Waiting On More Than One Simultaneous Event

Another example where you have no other trading choices but to use the cash out option is if you want to take the cash when two or more events are still running. 

So if you are waiting on two matches for your bet to come in and you don't think both teams will hold on you don't have the option to lay both teams as a double in running using a betting exchange.

Therefore your options are let the bet run or choose to cash out.

Value

Value betting should also come into the decision to cash out. 

Every time you are offered the chance to cash out you are effectively laying (at the current odds) the bet that you have already placed (at the previous odds).

ALSO READ

Master the Art of Value Betting and Maximize Your Winnings

So you must ask yourself "Is cashing out a value laying opportunity?". 

If you think there is value in laying the current odds then you should lay off, whether you think the remaining selections in your bet are going to win or lose.

If you don't think it's a value lay then this is the first example of when not to cash out….

When Not To Cash Out

Poor Odds or Value

Arguably the biggest problem with the cash out option is the fact that bookies are effectively charging you for the ease at which you can get out of your bet. 

You don't have to deposit potentially large sums of money in a betting exchange account, you don't have to double check and triple check that you've got your maths right and that you are laying at the correct odds and you don't have to worry about what might happen to the odds whilst you are following these steps.

Because it is so easy to use the cash out option the fact is you get worse odds in nearly every circumstance than you would from laying the remaining selection (if there is just one selection) on an exchange.

If you've backed 5 teams on a Saturday and one team on a Sunday and your first 5 teams all win you'll be in a decent position to take some cash from your bet. HOWEVER….

It is almost certain (unless there has been a big gamble on your final selection) you'll be offered less money to cash out than you would have won from just backing the 5 fold.

Example

You place £20 on this acca:

Saturday matches

• Arsenal 1.4 
• Man City 1.5 
• Chelsea 1.5 
• Spurs 1.88 
• Everton 2.1 
• Return = £248.72

Sunday matches

• Newcastle 2.37

If you'd only backed the Saturday fivefold you would have won £248.72. The cash out amount at that stage is more likely to be around £220.

So if you have a habit of cashing out before the final leg try betting just on the teams that are all playing first. 

If you still fancy your bet ahead of the next game you can always stake what you won from the initial bet on the final selection.

Example

You still fancy the bet so you bet £248.72 on Newcastle at 2.37.

If Newcastle win £589.48.

PLUS you still get the option to cash out on your Newcastle bet at any time.

You should also avoid cashing out when you have the option to lay your bet off on better terms on a betting exchange. 

If your potential winnings aren't a significant amount of money you can deposit some money in you Betfair exchange account and effectively cash out at better odds.

Partial Cash Out

Laying on the exchanges also gives you more options with how much you lay off. 

With bookie cash out you generally have two choices (although some have introduced partial cash out now).

1. Let your bet ride and win the full amount if it wins or lose your stake if it loses.
2. Cash out for the given amount and walk away with that money.

If you lay off on an exchange you can lay off effectively for any amount up to your potential winnings.

ALSO READ

Best Cash-Out Betting Sites for Football and More

Example

With the 5 teams on Saturday and 1 team on Sunday example, you might consider one of the following options.

Lay Off To Cover Your Stake

In order to get back your initial stake of £20 whatever the result you'd have to lay Newcastle at 2.37 to lose £27.40. 

You'd probably find Newcastle are slightly bigger odds on the exchange plus you'd pay some sort of commission on any winnings but that's the sort of figure you are looking at.

If Newcastle loses you get £20 back from the exchange covering your £20 bookie loss. 

If Newcastle win you make £589.48 - £27.40 = £562.08 

Lay Off To Win Any Other Amount

You might decide you want to make a minimum of £100 whatever happens. Here you'd have to sacrifice £164.40 of your potential winnings.

If Newcastle loses you get £120 back from the exchange minus your £20 bookie loss. 

If Newcastle win you make £589.48 - £164.40 = £425.08

OLBG Members' Thoughts On Cash Out

Conclusion

Think about what bookies like to advertise. They want to push things that make them the most money. They offer incentives for punters who place accumulators because that is what they make the most money from.

Likewise when you see a TV ad for a bookie it nearly always mentions the cash out option. 

This is because it always suits the bookie for you to cash out because you are balancing their books for them at worse odds than they are currently offering for other punters.

In some circumstances it makes sense to get out of your bet and take the money but only rarely is it best to use the bookie cash out option.

N.B You cannot cash out tips in the OLBG Tipping Competition. 

FAQ

Responsible Gambling

Before, during, and after cashing out, you always need to make sure that you are gambling responsibly. The following articles will assist you. 

ALSO READ

Responsible Gambling Features, Function and Help

ALSO READ

How to be Sensible and Gamble Responsibly (Examples)

Editorial Information

Author Nigel Skinner is one of a team of OLBG Betting Experts who contribute to the varied and detailed content on OLBG. 

Nigel Skinner

Blog content manager

Nigel is one of OLBG's senior editors with 19 years of industry experience. Today he specialises in researching and writing about the betting angles to political and mainstream news stories and being the OLBG in-house expert on 'next football manager' betting markets.

Specialist Subjects🔬📚

⚽️👨‍💼 Nigel is an Arsenal fan first and foremost but has an unrivalled knowledge of English football managers at every level. Meticulously putting together our Next Manager articles, Nigel can quite possibly name you every manager of every club in the land, not to mention a pretty good eye for predicting replacements when changes happen. 

📈📊📉 A long-time exchange trader and spread betting fan, Nigel is our go-to for advice on the subjects and uses them daily in his own betting activity. 

🗳️💼 Finally, Nigel loves his politics and [some would say] has an unhealthy interest in the day-to-day events in the UK's political landscape, contributing to all our Political betting content and new pieces.