Cash Out When Betting on Football
There is no doubt that, at first glance, the cash-out option looks irresistible. Still, gamblers should ask themselves how the cash-out value is calculated and whether it is profitable to use it.
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Cash Out When Betting on Football Explained
In essence, the cash-out option allows soccer fans to reclaim a portion of their stake, or even secure a profit, before the matchup ends, provided they cancel the bet. One of the most important things to remember about the cash-out feature is that the amount of money you get back depends on the likelihood that your bet will win. Therefore, the amount returned can be either larger or smaller than your original stake.
Interestingly, when the cash-out option is available, it usually accompanies the in-play, or live-betting, feature, which allows football bettors to place wagers while the match is in progress. Thanks to live betting, fans can make predictions after the game has started, giving them more information to guide their choices. With the cash-out option, they can also retrieve their funds before the final result is known.
It is important to note that the live market prices at the moment of the cash-out determine how much money you will receive. Consequently, the cash-out offer keeps changing until the matchup ends. Its value can rise, fall, or disappear altogether as your chances of winning shift. Because bettors often use the cash-out feature in the closing stages of a match, predicting the amount you will receive can be difficult. Still, the cash-out feature can be helpful, especially for bettors who have backed a losing position or an outcome that now seems unlikely.
Although a growing number of operators offer the cash-out feature, its availability ultimately depends on the bookmaker with which you have an account.
Now, let’s assume you decide to bet on three soccer teams that you believe will win. The odds for the first team are 2.00, for the second 2.90, and for the third 3.50. If you wager $20 and all your selections are correct, your potential return is $406. However, imagine the matches are not going your way and you are offered a cash-out of $200. At this point, you have two options.
The first option is to accept the cash-out offer and collect $200, regardless of how the remaining stages play out. The second is to ignore the offer and see how the matches unfold. If all three teams win, you would receive the full $406. If even one team falls behind or concedes an equalizer, however, your return would drop significantly.
Estimating the Cash Out
Assume you place a $20 bet on Arsenal to beat Manchester City at odds of 3.50. The team performs well and the odds shorten to 2.00. To find the cash-out value, divide your potential return by the current odds. Your potential return is $20 × 3.50 = $70. Dividing $70 by 2.00 gives a cash-out value of $35. This example illustrates the “fair” cash-out value.
Although this may seem appealing, soccer bettors should remember that such fair offers are rare. In addition to the margin already built into the current odds, bookmakers often add another margin to the cash-out value.
Returning to the example above, remember that the cash-out value already includes the bookmaker’s original margin. Since bookies often subtract an additional percentage, the actual cash-out offer might be closer to $32 instead of the “fair” $35. Even small differences like this can have a lasting effect on your overall profit, especially if you are aiming for long-term gains.
Some bookmakers also offer a partial cash-out option. It allows bettors to withdraw a portion of their stake while leaving the rest of the wager active. This feature is particularly attractive because many bookies let customers use it multiple times, provided a cash-out slider is available.
Alternatives to the Cash-out Option
In certain situations, locking in a profit can be sensible. While cash-out may appear to be a cure-all, other strategies can be more advantageous. One option is half-time/full-time betting, in which you wager on both the halftime and full-time results simultaneously.
Another option is hedging, which allows you to secure a profit regardless of the final result. After placing your original bet, you place additional bets on the other possible outcomes. In practice, this approach guarantees a return whether the initial wager wins or loses. The strategy works by taking advantage of changing circumstances and shifting odds.
Arbitrage betting is another appealing alternative because it seeks to guarantee a profit by placing bets on all possible outcomes. To use this strategy, you must identify discrepancies in the odds offered by different bookmakers.
Conclusion
However, if you rely on cash-out too often, some online bookies may limit or even ban your account.