Best Online Betting Sites With Cash Out
The cash out feature was launched for online sports betting in the early 2010s. It was quickly embraced by many bettors, who appreciate the extra control it gives over wagers.
We explain how the feature works and when to use it later in this guide. But, first, here are the best betting sites for cash out in 2021.
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|50% Up To $1,000||Visit Site||Visit Site|
We’ve carefully selected secure online sportsbooks that not only offer the cash out feature, but also excellent odds, a good variety of markets, and fast payments.
We share more details about the top sports betting sites with cashout below, along with some other useful information and advicc.
Our Guide to Using Cash Out at Online Betting Sites
Bovada – Best Cashout Betting Site for the US
- Established: 2011
- First Deposit Bonus: 50% of up to $250
- Banking Options: Credit cards, Cryptocurrencies, Zelle, Vouchers
- Other Features: Live betting, Prop bet builder, Virtual sports
Most gambling sites that work with US players don’t offer online betting with cash out, but Bovada is among the exceptions.
The company introduced the feature for parlays and singles with great success. The expectations are that more sports and types of wagers will be available for cash out at Bovada in the future.
Bovada also offers high odds, excellent bonuses and promotions, as well as some of the fastest payouts available to American bettors.
Here’s a quick guide on how to cash out a bet on sports at Bovada.
How to Cash Out Early at Bovada
The process is simple, just follow these steps.
- Make Sure Cash Out Is Available – When you’re placing your wagers, Bovada will show the “Cash Out Available” sign in the bottom left corner of the slip when the feature is available.
- Go to Your Open Bets – Click on the “Open Bets” tab of the bet slip.
- Find Your Wager – Find the wager you want to cash out and check out the return that’s offered to you.
- Click on “Cash Out” – If you are satisfied by the offer, simply click on the button and the amount will be transferred to your Bovada account balance.
The process is simple and easy which is why we believe Bovada is among the best online betting sites with cash out option and certainly the top place for US players who want the feature.
Betway – Best Betting App with Cashout
- Established: 2006
- First Deposit Bonus: 100% of up to $50
- Banking Options: Credit cards, E-wallets, Wire transfer, Prepaid cards, more
- Other Features: Live betting, Live streaming, Push notifications, Bet builder, Virtual sports
If you’re looking for the best cashout sports betting apps, you should certainly consider one of the many Betway options for mobile gambling.
The online bookie offers a responsive betting website that works on every mainstream device, as well as native apps for iPhone, Android, and Windows Phone.
That’s on top of the generous bonuses, the high odds, and the excellent reputation of the sportsbook.
Let’s explore more details on how to cash out on sports betting apps powered by Betway.
How to Cash Out Early at Betway
Here’s what you need to know about Betway’s version of the feature.
- Cashout Button – The betting markets that are available for cashout are marked with a small cashout button.
- Go to “My Bets” – Open the “My Bets” section of your bet slip and go to your unsettled bets.
- Check the Returns – The cash out amount will be displayed next to the cash out icon.
- Click on the Button – If you want to complete the process, use the cashout button and the money will be in your Betway account instantly.
All of Betway’s cashout betting apps include a wide range of markets and sports which is another huge advantage of the bookmaker.
How Cash Out Works in Sports Betting
Some of you might have reached this page asking how does cash out work in sports betting. The concept is really simple; you place wagers as you would normally do.
The big change is that you don’t have to wait for the sporting event to finish to settle it.
You can can cash out bets before an event has even started or while it’s running. The amount you cash out depends on the circumstances. If things are going your way, you can register a profit, but it’s also possible to settle your bet at a loss.
If you want more details on what amount to expect, the next section can help.
How Is Cash Out Calculated?
The basic principles that cashout sports gambling apps and sites use are very similar to how they calculate their initial odds.
They determine the probability of the outcome you’ve backed, apply their margin, and then offer you the end result.
Let’s take a look at a simple example. Imagine that you place a $100 wager on the San Antonio Spurs to beat the Indiana Pacers in the NBA.
The price is -110 before the start of the game, so the bookmaker sees this is a fairly tight affair and your potential return is $191 if you don’t use cashout and the Spurs win.
Here are three different scenarios at half-time and what your cashout options would look like in each.
- The Game Is Tied – The bookmaker saw the game as very close before the start and that hasn’t changed. The traders believe that the Spurs have a 50% chance to win, so the value of your wager is 50% of the potential return or $95.5. They add a small margin and offer you $90.7 instead.
- The Spurs Are Leading by 20 – Your team is way ahead and the bookmaker believes that the chance of a Spurs win is 90%. The value of your bet at this point is 0.9*$191, which is $171.9. They offer you $163.3 to cash it out.
- The Spurs Are 20 Behind – This is the opposite scenario to above and your team has only a 10% chance to win according to the sportsbook. That makes your bet worth $19.1 and the bookie offers you $18.1 after the margin is applied.
The exact numbers might vary a bit at the different cashout sports betting sites, but the process remains broadly the same.
You probably noticed that the bookmakers are essentially trying to sell you a wager at a favorable price for them. That’s one of the problems with the feature and we discuss it later on.
Let’s first take a look at some cash out variations you could find online.
Partial Cash Out
Some of the best betting sites with cash out offer the opportunity to settle only a portion of your bet. The process is similar; you have to go to your open wagers and find the one you want to close.
When you find it, there will be a slider you can use to select how much of your bet you want to cash out. You can usually settle anywhere between 10% and 100% of the overall stake, which provides additional flexibility.
Just imagine the following situation. You’ve placed $10 on a wild accumulator and five out of the six selections already won.
If the last one is successful, you will collect $1,000. Or you can cash out for $400, which is a tempting offer from a $10 bet.
With partial cash out, you could decide to settle half of your bet. You could collect $200 on the spot, while keeping the other half in play.
This way you are guaranteed a solid profit no matter what. The other half is still in play, so a win would result in an additional $500.
Another feature that is getting more and more popular is auto cashout. The number of sites offering this is still limited, but the expectation is that most online bookmakers that do cash out will eventually support it.
The main concept of auto cash out is that you can predetermine an amount of money and the sportsbook will automatically close your wager if that level of profit is reached.
People tend to use this one if they can’t watch the event they’ve bet on and they don’t have the opportunity to manually cash out. It’s a simple but useful solution.
Best Sports for Cash Out Betting
Some sports are better than others when it comes to using betting cashout. This is for various reasons, including the fact that online sportsbooks offer the feature mostly for the biggest leagues.
Here are our suggestions for the best sports for using cash out.
The best betting sites to cash out support all football games from the NFL and most NCAA fixtures, too. This is obviously a good start when it comes to using the feature.
We know how intense football games can be and we’ve seen so many huge swings in the later stages, especially the fourth quarter.
On top of that, the sport includes various clock rules designed to make comebacks possible.
That’s why using cashout when betting on football is great. If your team is way up on the scoresheet, you can always consider closing your wager and removing the risk of a turnaround.
This approach is especially if the returns are good and the opposing side has enough quality to turn it around.
Soccer is another sport that almost all online betting sites with cash out cover, at least when it comes to the big leagues.
Betting sites you can cash out on typically offer markets for all of the following.
- Top European Leagues: English Premier League, Spanish La Liga, German Bundesliga, French Ligue 1, Italian Serie A
- UEFA Club Competitions: Champions League, Europa League
- Major International Competitions: FIFA World Cup, EUROs, Copa America, Afcon, Gold Cup, Asian Cup
Cashing out is widely available for MLS betting, too, as well as other competitions from all over the globe.
The main reason why you should think about using the feature here is the low-scoring nature of soccer. We often see games that are dominated by one of the teams but end up in a draw or even in a win for the team that looked second-best.
Late goals and last-minute drama are a big part of soccer. They might be fun for the neutrals, but losing a wager at the last minute is painful and the cashout feature can prevent that.
Basketball fans probably won’t be surprised to see the sport here. The NBA has brought us so many twists and turns throughout the years that you know almost no lead is safe.
We often see swings of 15 or even 20 points within the last quarter alone, so losing a wager that looked like a certain winner at some point happens all the time. You can avoid that by using cash out early betting sites.
Outside of the NBA, they offer the feature for competitions such as the NCAA Division I, the EuroLeague, the major European leagues, and major international competitions such as the World Cup, EuroBasket, the Olympics, and more.
Betting on basketball is already great for many reasons. Adding the use of the cashout feature just makes it even better.
Any individual sport is bound to include amazing comebacks and tennis is probably the best example of that. Players go through plenty of ups and downs even in a single match, especially in women’s tournaments because of the weaker serves.
The rules of the sport also contribute to the swings. No matter how big a player’s lead is, they have to be able to close the match. The fixtures are not time-based like the other sports we’ve discussed so far. A player could have a bunch of match points but still lose if they fail to convert them.
That’s why closing your wagers early is often the smart decision. Most online sports betting sites with cashouts allow you to do that for tennis events such as the following.
- Grand Slam Tournaments
- Masters Tournaments
- Big WTA Competitions
- The Davis Cup
- The ATP Tour
We’ve often seen smaller tournaments open to cash outs too, so make sure to check if that’s the case when you bet on tennis online.
More Sports That Are Good for Cashouts
Several other sports are also a good choice when it comes to cashing out because their nature allows for twists and turns that could ruin your wagers.
Here’s our recommended list and the best betting sites for each if you want to target them.
Now that you know the best cash out betting sites and the sports that are most suitable, it’s time to dig deeper into whether you should use the feature and the best time to do so.
Pros and Cons of Cashing Out Bets Early
The cash out feature became an almost immediate hit with bettors. Plenty of online bookies were quick to launch some version of the innovation, but were they purely giving their customers what they wanted?
You have to remember that what’s good for the bookmakers is often bad for the bettors – or at least sub-optimal.
That begs the question if you should use cashout at all. There’s no simple answer because the feature comes with different pros and cons.
Let’s take a look at them before we share our conclusion on cashing out early.
Pros of the Cashout Feature
We’ll begin with the positives that come with using betting sites with early cash out. Here’s what the feature brings to the table for you as a bettor.
- Reduces luck as a factor – We know that luck is a big factor in sports betting, at least in the short term. You can prepare for a wager perfectly, only to see it ruined by an unusual occurrence like a bad referee mistake or a freak injury. Cash out allows you to have more control over variance because you can secure your profits or reduce your losses at a point that suits you.
- Good for securing big profits – If your strategy is to target high odds, using cash outs to secure big hits can be very powerful. Just imagine how painful it is to lose a huge parlay because the last selection failed? Closing such a bet early avoids such drama.
- It’s simple and easy – The cash out feature is pretty easy to use, so there’s no extra time or effort required to take advantage of its benefits.
The cashout feature certainly brings various perks to the table and should definitely be used in at least SOME situations.
Identifying the right spots to cash out early is an important part of using this feature.
Best Times to Use Early Cash Out
- When there’s value in the return – The basic principles of value betting apply to the cashout feature. For example, if the bookmaker offers you 60% of your potential return and you believe that the chance of winning is lower than that, you should close your wager.
- When there’s a lot of money on the kine – Imagine that you have placed $10 on a fun parlay and the odds are +20000. All of the selections have come good with one exception, and you can settle your wager for $1,500. If that amount of money is significant for you, you should use the feature.
- To stop a bad run – It’s always possible to hit a big slump in sports betting. For example, let’s say you have lost ten wagers in a row. You are starting to get nervous, and your bankroll is getting thin. It might be smart to cash out a wager that’s going well just to get a win and turn it around.
- When You’ve Made a Mistake – There all kinds of mistakes you can make when betting on sports. For example, maybe you didn’t see that a key player of a team is missing for a game you’ve bet on. You can cash out to close the bet and get out while you can.
With the positive examples covered, let’s take a look at the other side of the coin.
Cons of the Cashout Feature
The harsh reality is that even the best betting sites with cashout profit from the feature. This is partly because their customers use it way too often.
Using the cash out feature at the right times is one thing. Using it consistently is unlikely to be optimal, and here’s why.
- Lower profits – Every single time you use the cash out feature, you get less money than you would if your bet actually wins.
- Lower value – Even worse, the online bookmakers with cash out essentially “buy” your wager at a discounted price. If they believe it’s worth $10, they offer $9.50, so cashing out is like selling them your action for less than it’s worth.
- Excluded from promos – The top sports betting sites with cash out have various bonuses and promotions. The terms of most of them exclude bets that were cashed out from the wagering requirements. That’s a downside that most people ignore.
You should always be careful with the feature because it works in favor of the cashout betting sites by design.
Here are some examples of spots where you should ignore the option.
- When you’re giving up too much value – Imagine that you’ve placed $100 on an NBA team to win a game at a price of +100, so your potential return is $200. Your team is 20 points up with 5 minutes to go, and there are no signs of a comeback whatsoever. The sportsbook offers you to cash out for $170. There’s no point in giving up some of your value in this situation.
- For smaller wagers – There’s rarely a good reason to cash out your smaller wagers that won’t make much difference to your bankroll. Assuming you made a small wager for the right reasons in the first place, cashing out is usually pointless.
- When you’re clearing bonuses – If you have a limited window to clear a bonus at cash out betting sites, you should focus on that and ignore the feature until you’re done.
Should You Cash Out Bets?
We’ve covered some of the most common examples of good and bad spots for cashouts, but there will be many situations that are not crystal clear.
If you believe that the portion of your potential return you’re giving up is less valuable than the reduced variance that comes with cashing out, you should use the feature.
Sites and sports betting apps with cashout will often “lowball” you. Don’t cash out early if there’s no reason to give up any of the value and you feel that the sportsbook is trying to buy your wager cheaply.
The following blog post has further cash out advice from one of our betting experts.
Early Cashouts vs. Hedging Your Bets
Before the birth of cash out, the closest thing we’ve had to the feature was hedging.
The technique is very similar in nature to cashing out and has its uses for all sports bettors. Which one is better?
Before we provide our answer, let’s explain in what hedging is in more detail.
Hedging in Sports Betting Explained
Hedging is simple at its core. You place a wager on the opposite outcomes of the same event. For example, betting on both the over and under 2.5 goals line in a soccer game.
That might sound crazy on the surface, but it’s all about the timing. You don’t place the opposing bets at the same time, but at a point where there might be a good reason to bet against your original wager.
Here are some of the reasons why people use hedging.
- Locking in profit – If your timing is good, you can hedge to secure a profit no matter what happens.
- Reducing losses – If a bet is not going well, you can reduce your losses by heading a losing wager.
- Changing your mind – You can use hedging to cut your losses on a bet that you’ve changed your mind on.
Essentially, hedging is the old-school form of cashing out. We have a page that’s dedicated to the technique and we recommend that you take a look for more details on how it works.
What Is Better?
Both the cash out feature and the hedging technique serve generally the same purposes. Neither of them is better than the other per se, because the optimal solution depends on the situation.
Here are the advantages of using cashout sports gambling sites and the automatic feature.
- Ease of use – You click a button and you’re done. If you use hedging instead, you have to do some calculations and work out how much to stake. You also need to find the right bet at appropriate odds.
- Perfectly acceptable to bookmakers – The betting sites where you can cash out your wagers encourage you to use the feature. They’re not always so keen on people who hedge their bets, especially if they create an arbitrage situation by doing so.
- Break even before an event starts – Many online betting sites that offer cash out will return your full wager before the event starts, unless the odds changed in the meantime. Effectively, you can close your bet without losing anything. That’s usually much harder to achieve with hedging.
By comparison, using hedging has only one advantage. But it’s a big one. The technique allows you to be way more flexible. You can use multiple betting sites to shop for the best lines and that can result in higher overall value.
If you are placing large bets, the time and energy required to do that might be worth it, so don’t rule out this approach.
How to Make Money on Cash Out Bets
At this point, you’ve probably made a decision whether you want to use cash out or not. The smart choice would be to do that when the situation is right.
We have a few more tips for making money on cash out bets that can help you utilize the feature and take full advantage of the potential benefits.
Use Other Online Betting Features
Cash out can be very good if you combine it with other modern features available online because of the synergy between them. Here are the most obvious examples.
- Bet Builders – Some of the online sportsbooks with cash out offer bet builders, too. This feature allows you to create all sorts of crazy wagers with insane potential returns. If you’re on the brink of winning big with such a wager, cashing out might be a good idea.
- Live Streaming – Watching the events you placed a bet on is always a smart choice. It can help you make a decision on whether cashing out makes sense.
- Push Notifications – If you’re on the move and can’t watch the event, you can always use push notifications for major developments that can help you pick the right time for a cashout.
Making the best out of the different features is a great to improve your chances of success in online betting. Make sure you use all the tools at your disposal.
Don’t Convince Yourself to Cashout
A lot of bettors somehow manage to convince themselves that cashing out is the best option even when it’s not.
There’s a famous Benjamin Franklin quote that comes to mind.
We don’t think that old Ben was a gambler and this quote has nothing to do with betting. But exchange the word Liberty for value and it’s a great quote for sports bettors to consider.
The fact is that cashing out is the wrong decision more often than not. Don’t get tempted by the “safe” profit just because it’s there. It comes at a price.
Don’t Be Afraid of Using Cashout to Fix Your Mistakes
Everybody makes mistakes in sports betting, even the pros. Sometimes, you might miss an important piece of information. In other cases, you might even misclick and place your money on the wrong market or outcome.
We’re all only human, after all, so errors are bound to happen. The best cash out gambling sites give you the opportunity to fix them at a low or even no price at all.
Some people foolishly ignore it because of their ego or because they’re lazy. Don’t be part of that group; use cashouts when you feel like you’ve placed the wrong bet.
Sports Betting Cash Out FAQs
- Which Betting Sites Have Cashout?
- Is Cashing Out Your Bets Worth It?
It depends. By nature, you lose value when you cash out a wager early. But it’s possible that the risk mitigation that comes with cashing out is more valuable than the money you give up when using the feature.
- Can You Cash Out Free Bets?
In most cases, cashing out free bets is against the terms and conditions of betting sites.
- Do Cashed Out Wagers Count Towards Bonus Wagering?
Most cash out sites don’t count bets you settled with the feature towards the wagering requirements of their bonuses and promotions.
- How Do I Know If I Can Cashout?
You need to pick one of the cashout sites available online and only bet on events that are marked as eligible for cashouts.
- Can Any Bet Be Cashed Out?
No, even the best cash out betting sites have limitations, so make sure to check if the feature is available before you place your wager.