Cash out lets you settle a bet before the event has finished. The bookmaker offers you an amount based on how the bet is going. If you accept, the bookmaker closes the bet and pays that amount into your account. This guide explains how it works, how bookmakers work out the offer and when settling early makes sense.
How cash out works
Once you place a bet, many bookmakers show a button next to it in your bet slip. It displays a live settlement value. The figure changes as the match or race goes on. If your bet is looking good, the value will usually be more than your stake. If it is going badly, it will be less. Accepting the offer locks in that figure, whatever happens next.
Example: you back a team at 3/1 with £10 before kick-off. They go 1-0 up at half-time and the bookmaker offers you £24 to settle. You can take the £24 now. Or you can let the bet run and receive £40 if they hold on, or nothing if they do not.
How the offer is calculated
The bookmaker bases the offer on the current odds of your selection, then takes off its margin. In practice this means it is almost always a little lower than the bet’s fair value at that moment. It is a convenience. Like every bookmaker product, the bookmaker prices it to make money over time.
Types of cash out
- Full: settle the whole bet for the amount shown.
- Partial: take part of the value now and leave the rest of the stake running.
- Automatic: set a value, and the bet settles automatically if the offer reaches it.
- Accumulators: settle an acca early once some legs have won, instead of relying on the final leg.
Not every bookmaker offers all four, and you cannot settle early on every market. Bookmakers also suspend it at key moments, such as a goal or a penalty. So the button will not always be there when you want it.
When settling early makes sense
Settling early is most useful when your circumstances change, not the odds. Say you placed an accumulator and no longer fancy the last leg because of a late injury. Taking the offer can protect some of the value. It can also help if losing a large potential return would really sting, and a smaller guaranteed amount would make you happy.
Doing it on every bet, or out of nerves in the last few minutes, tends to cost money over time. Each early settlement gives up a little value to the bookmaker’s margin.
Free bets and early settlement
Bookmakers often exclude free bets and sign-up offer bets. Settling a qualifying bet early can also stop it from unlocking the offer. Check the offer terms before you press the button. Our guides to qualifying bets and minimum odds and acca insurance cover related terms.
Cash out tips
- Decide before the event what result you would be happy to settle at, rather than deciding in the moment.
- Compare the offer with what the bet would return if it wins, and ask whether the trade is worth it.
- Remember that bookmakers can suspend the feature, so do not rely on it.
- Never place a bigger bet because you think you can cash out if it goes wrong.
18+. Gambling should be fun. Set a budget you can afford to lose, and if it stops being fun, visit BeGambleAware.org or call the National Gambling Helpline on 0808 8020 133.
