Understanding the cash out option
Cash out allows you to get money back on your bet before the event you are betting on is over. The amount of money you get back is determined at the time of cashing out and will depend upon the current likelihood of the bet winning – so it could be greater or less than the initial stake.
This option is normally offered as part of in-running betting, also known as in-play or live betting. This is betting while the event to which the bet relates is actually taking place. Examples include, placing a bet on a horserace while the race is being run or a football match that has already kicked off.
The availability of cash out will vary from bookmaker to bookmaker.
Cash out offers are subject to live betting markets which can be volatile during a sporting event and increasingly so in the final stages.
Given any cash out offer is determined by the current live market prices (which are subject to time delays) it follows that the available offer will itself be increasingly volatile as the likely outcome of the event becomes potentially clearer.
As the likely chances of winning change, an offer for cash out will increase, decrease or be removed altogether.
Example of a cash out offer
A £10 treble placed on three football teams at odds of 1/1, 15/8 and 3/1 has the potential to return £230 if all three teams win.
With five minutes left to play all three teams are winning 1-0, and a cash out value of £180 is offered.
You could cash out and take the £180. If after you cashed out one team conceded an equaliser, you would not be affected and would keep the £180.
But if you had decided not to cash out and the score line stayed the same till the end of the games you would have had a return of £230.