Cash out has become a more popular option in the betting world and is appreciated by players for its ability to close your bet early and potentially take a profit. It is a fast-paced addition to the market and is now widely available for sports and esports betting.
On this page, we will cover how the function works, the different types that exist, and also list our recommended betting sites with cash out so that you can try for yourself.
Recommended Betting Sites With Cash Out
There are plentiful options when it comes to betting sites with cash out. That being said, only some offer an all-round excellent experience, and we believe that those we have listed below fit the bill. As well as having cash out options, each is fully licensed and has speedy payment methods for your convenience.
What is Cash Out?
Cash Out betting, in this context, refers to the option a player has to immediately cash out their bets before they settle. In most betting sites, once you place a bet, it is locked in for the duration of the game/match that you are betting on. But, with cash out betting, you can choose to cash out your bet at any time.
It does not matter if the bet is going well or not, cash out betting allows you to cash it out whenever there is an opening, and walk away with any potential winnings you may have made – this could be a profit because your initial bet is looking likely to succeed, or a loss that means you at least get some of your funds back in the event of a likely loss.
It has become popular for several reasons. Not because it adds a new layer of a thrill to the game, but also it can be used for a variety of strategic reasons for a player’s bets. It’s a very unique and creative feature that adds a whole new layer to your betting, so it’s important that you choose the best betting sites with the cash out function available.
It is most common in the world of sports betting, where things can change very fast indeed; whether you’re betting on football, tennis or rugby, the chance to claim back some of your losses or gain a profit before the final whistle is a very attractive proposition.
How Cash Out Betting Works
Cash out betting may sound simple on paper, but as we said, it’s a very strategic feature that has to be used in the right way. We have decided to put together an esports example below, so that you get a full picture of how you can use it to its best potential.
Let’s say you are betting on a game of Counter-Strike, between ECSTATIC and Johnny Speds. Let’s say ECSTATIC are up one game to zero, and you have backed ECSTATIC at odds of 1.5. You could cash out here, and because your team is winning, the amount available to cash out will go up.
But, if Johnny Speds makes a comeback out of nowhere, the cash out option will still be available, but the amount you are able to cash out will greatly reduce, because the odds will change. Ultimately, if you decide to not cash out and Johnny Speds wins, you will get nothing for the losing bet. But, if you cash out early, you will get some of your original stake back. So this is the calculation you need to make and cash out betting is all about timing.
The Types of Cash Out Betting
There are several different types of cash out betting. Some betting sites with cash out may only offer one or two of these types, and some of these betting sites may offer them all.
It’s important to choose a betting site that gives you variety in this regard, because each option can be beneficial depending on the bet and the game you are betting on. The types are:
- Full Cash Out: This is exactly what it sounds like. You choose to cash out, you will get your full stake returned to you, along with any profits or losses you may have gained, depending on the point in the game you are at.
- Partial Cash Out: This gives you the option to cash out only part of your bet, while letting the rest ride. This is useful if you have bet too much on a game, but you still believe the bet could pay off. You get a bit back and secure, and let whatever is left ride on the bet.
- Auto Cash Out: This allows you to hit an amount, and if your bet hits that amount, you will automatically cash out. So, if you bet $10 on a game, and you set an amount of $20, if the live odds ever hits $20 at any point during the game, your bet will immediately cash out.
- Bet editing – Not exactly a cash out bet, but some platforms will allow you to change and edit your bet as you wager.
Sports Betting Sites with Cash Out
As mentioned, cash out is most common when it comes to sports betting. It is synonymous with live events and the thrills that accompany them. Whatever the event, any of the betting sites that we listed on this page will have cash out options so that you can manage your wager and make decisions as the action unfolds.
It is important to note that virtual sports do not allow a cash out options; the events are over quickly and results are determined by using RNG technology.
Casino Cash Out
Casino games do not have cash out in the same sense as sports or esports betting, but most games allow you to walk away at any point. For example, when playing blackjack, if you get a good hand then you can leave the game and withdraw your winnings to ensure a profit.
The Benefits and Drawbacks of Using Betting Sites With Cash Out
As you can imagine, the cash out feature is a gamechanger in a variety of different ways. However, while there are plenty of benefits, there are also some drawbacks that a player should consider before they rely on this feature completely. Here’s a full list of the advantages and disadvantages to cash out betting.
Benefits of Cash Out Betting
There are several benefits to cash out betting, especially with the variety of different types of cash out betting you can do. These include:
- ✅They allow you to lock in some high profits, before the match ends
- ✅You can cut some of your potential losses if a bet is going very badly
- ✅It gives you plenty of creative control over each bet you make, and how you choose to end it
- ✅Can act as a reasonable bankroll management tool, by preventing losses and through partial cash outs.
- ✅Acts as a valuable strategic tool
Drawbacks of Cash Out Betting
While you may think there would be no downside to having full control over your betting experience, there are some disadvantages that you need to consider before putting all your faith into cash out betting. These include:
- ❌If you cash out early, you could miss out on big wins
- ❌Frequent impulse decisions to cash out can affect long term profits
- ❌Involves quick decision making, which can cause impulsive behaviour and losses
DraftKings: The Best Cash Out Betting Site
DraftKings has been a leading player in the esports and sports betting fields for many years now, but there are very few sportsbooks that offer such a great platform, paired with the cash out betting feature so well.
The cash out feature is available in both the sports and esports betting platforms on DraftKings, and the amount of customizability it gives a player is astounding. You have full cash outs, partials, automatic cash outs and the ability to change your bet while it is in play.
With all of that available for your cash out play, along with the great betting platform DraftKings provides, we would recommend trying out your cash out betting strategy with DraftKings. You can also read our full DraftKings review to get a flavour of what else to expect.
[cta id=2235 type=cta]Our Verdict: Plenty of Great Betting Sites With Cash Out
The cash out betting feature is definitely one of the best features that a betting site can provide a player. It gives players full customizability over all of their bets, including ones that a player may normally just have to sit out, and ride a loss. It allows a player to strategize for their bets in real time, but a tool like that can be dangerous for player profits if misused.
Overall, there are plenty of great sportsbooks that offer cash out options, but we believe one of the best betting sites with cash out is DraftKings. So, why not sign up to DraftKings and enjoy the freedom it gives a player?
Since: November 27, 2023
