'Cash out' is a function that theScore Bet Sportsbook and Casino can provide on an active wager. It enables bettors to accept some profit or loss prior to the completion of a sporting event. You may use it to settle for a lesser loss than you anticipate by the end of the event or take a more minor win rather than risk losing entirely.
The cash out betting strategy is all about knowing when it's best to call time on your bet rather than letting it stand until the end of the game/event. Here, we get into different aspects of cash out sports betting in detail and how you may want to use it as part of your betting approach.
Understanding Cash Out
Whether you're a seasoned bettor or thinking of placing your first wager, if you want to know what a cash out is in betting, you're in the right place. It is a feature that gives bettors increased flexibility.
It is appealing to bettors since it enables you to mitigate your losses or ensure you come away with something from your wager.
Cash out as a function is generally more beneficial for the operator than the bettor. However, there are occasions in betting where cashing out may be a better option than leaving your bet on. Let's get into more about how cash out betting works.
How Cash Out Works?
Cash out betting can be explained pretty easily, but we must consider a few essential factors. One is how cash out amounts are calculated by sportsbooks.
When following your wagers on theScore Bet Sportsbook and Casino, you will note that the amount you are able to cash out for varies as the event goes on. The way that cash out amounts are calculated is fairly simple, as sportsbooks essentially set new odds based on the current state of any sporting event, and your potential payout or losses are adjusted accordingly.
Some factors must be considered, such as the time discrepancy operators generally use on cash out requests. There may be occasions where you cash out at a certain number, and then a significant event occurs in the game/match, causing your cash out to be voided. You will then need to decide whether you still want to use the option based on a revised amount.
You should remember that not all markets will be eligible for the cash out function. Usually, you will see a cash out logo or other indication next to betting selections that allow you the opportunity to cash out.
On theScore Bet’s site, the cashout option will be available from your "My Bets" tab, where you’ll be able to see all of your open bets.
While cashing out is used as a way to lessen a loss, partial cash out is another option, which enables you to accept a percentage of your winnings. An example would be if a team you've bet on takes the lead, but you don't think they'll hold on so would prefer to cash out now than risk waiting until the end of the game. Often, you'll be able to decide how much you want to cash out and how much you want to let ride on the ultimate result.
Where and When Is Cash Out Available?
Whether cash out is allowed or not will vary from bet to bet, as will the sports and markets that have the feature.
Cashout is available on almost all sports bets at theScore Bet®, as well as select blackjack games. At this sportsbook, sports betting cashout may only be available when your bet still has decent odds of winning. For example, if a bet’s live odds become greater than +400, cashout may no longer be an option because the likelihood of the bet winning is not high enough.
In terms of how much you can expect, this depends on the live odds of the sports bet. For example, the more the live odds are in your favour, the higher the cashout amount. This can also go the other way, if the odds aren’t in your favour.
Assuming cash out is an option, it will be easy to do. View your eligible wager and you will see your cash out opportunities and have a choice whether to take a cash out amount.
When Should You Cash Out?
Deciding if cashing out is your best choice depends significantly on the situation, and there is no one-size-fits-all answer. It can be wise to check out the live betting odds to understand whether cashing out will give you the equivalent value to in-game odds. For a few examples of when cashing out make sense, let's consider the following scenarios:
- Perhaps a sportsbook offers a large percentage of what you would stand to win early enough in an event, that you deem it worth it to take the money.
- There may be a situation where you feel very confident that you are going to lose your bet, and it may be wise to mitigate your losses.
When Should You Not Cash Out?
Of course, there will be some situations where cashing isn't an option. This could be due to the sportsbook not offering the feature, or there are situations when it doesn't make sense to cash out, such as:
- You notice that your team, which is currently losing, is picking up steam and has a good opportunity to win the game after all.
- A team you have bet on that has marginally extended its lead, putting the result of the event beyond doubt, and making your chances at securing the full win much higher.
Cash Out Betting Markets
Cashing out in sports betting is popular in most of the major sports and markets, both in Canada and worldwide. You will see cash out options for sports like Hockey, Basketball, Baseball, and Football. These will be available on bet types like point spreads, money lines, and totals.
Using Cash Out in Your Betting Strategy
Just like any other betting approach, the cash out betting strategy involves considering the odds you are being offered. When deciding whether to make use of this feature, remember that the best cash out betting tips available involve comparing the cash out offer with the in-game odds, then working out if you think there's value in cashing out. Ultimately, the decision lies with you.
Reasons To Bet With theScore Bet
There are many reasons to bet with theScore Bet Sportsbook and Casino. These include a reliable support team that’s available 24/7 for any and all mobile betting concerns, a responsibility to maintain player safety and security, as well as a responsibility to uphold regulated betting standards.
New and existing players can use the promotions page to explore all our Bonus Bet sign-up offers, and other generous bonus opportunities. You can receive Bonus Bets for signing up and many other benefits by choosing the best sports betting app on the Canadian market for you and all of your favourite sports. Download the app today and see what you've been missing in mobile betting with theScore Bet Sportsbook and Casino.
Cash Out Betting FAQs
What Is the Meaning of Cash Out Betting?
Cash out betting involves accepting lower losses than your entire amount wagered or partial winnings during a sporting event that you placed a wager on. Sportsbooks will give you the opportunity to accept changing loss or win numbers throughout the course of a game based on the score and events at any given moment.
When and How Can You Cash Out?
You will generally be able to cash out on any eligible sport and market during most of the game, as long as the sportsbook facilitates the cash out feature. To do so, track your wager and select the "cash out" or equivalent option, and accept the current cash out offer.
Is Cashing Out Popular in Betting?
Cash out has become an increasingly popular function and is, in turn, offered by many of the top sportsbook operators worldwide. It can be a great way to mitigate losses or ensure winnings.
How Can You Calculate Cash Out?
To calculate whether a cash out opportunity is worthwhile, you will want to consider what you stand to win from your bet compared to the current odds on the equivalent in-game wager.
Does Cash Out Have Anything in Common With Parlay Insurance?
Parlay insurance and cash out opportunities are independent of each other. Where they can intersect is when a cash out is allowed on a parlay, in which you've hit the majority of its legs. This can function in a similar way to parlay insurance, though not exactly the same.