What Is Cash Out and How Does it Work?

Have you ever been in a situation where your bet was going as planned until the dying minutes of a game? This is where the cash out feature becomes essential.

However, not many bettors understand the nitty-gritty of this feature and what it fully entails. As a result, this guide clarifies what cash out in betting is and its pros and cons. We will also provide a few cash out betting tips that players can utilise.

What Is Cash Out in Betting?

If you’re looking for cash out meaning in betting, you will find our research on this subject handy. Cashout is a betting feature that allows you to settle your bets before the game ends naturally. Players can do this for prematch and in-play selections.

Depending on the actions in a game, the returns from your cashout can be more or less than your stake amount. Also, it is usually less than your potential winnings as you have to end your bet abruptly when your predictions begin to differ from the game’s outcome or when a few selections from your accumulator have been settled.

Cash Out

For instance, if the first game in your selections begins to lose with a few minutes left until the end of the game, the betting site may offer you a payout less than your stake.

The situation is different when two or more selections in your bet slip win with a few left to go. At this moment, the operator will offer a payout greater than your stake amount but less than the amount you would win if all your selections eventually win. So, it helps you limit risk on a bet.

Players would typically find the cashout feature in their Open Bets tab. There, you will see the games available for cashout and the cashout value. The table below simplifies the cash out option in betting, providing its pros and cons.

Cash Out ProsCash Out Cons
✅ Gives you the chance to control your bets before it’s over.❌ You lose some amount from your potential winnings.
✅ Offers a considerable return instead of losing all❌ Some bonuses and promotions don’t allow cashout
✅ The Cash Out feature is easy to use❌ It may deny you a significant win if all your selections come through.

What Is Partial Cash Out?

Based on the analysis we made on the cashout feature, bettors will find the partial cash out even more interesting. It is one of the cashout varieties offered to bettors, requiring you to withdraw a part of your cashout value while leaving the rest to keep running until your bet ends.

We tested this option and noticed how beneficial it can be to bettors. Players get the chance to secure double winnings from a bet. In other words, you can initiate a payout after a few of your selection wins and then maximise your winnings if the rest of your selections are successful.

The procedure is the same as the full cashout option. As soon as you click the cashout feature on your open bets, you can select a partial cash-out option that allows you to choose the amount to cash out and the amount to retain.

What Is Auto Cash Out?

Another recent form of cashout available to bettors is the Auto cashout. In this case, players set a desired buy out value whereby the bookie initiates your cashout payout when your bet hits that value.

We have done the research for customers who may want to use this form of cashout, and from our findings, bettors don’t have to log into their account for the betting operator to complete the cashout procedure. You’re good to go once you set the Auto cash out to your desired mark when placing your bet.

Your bet must have an active cashout option to do this. Afterwards, click on the cashout value or any button close to it to set your Auto cashout value.

How Do You Calculate Cash Out on a Bet?

Cashouts reflect on your bets based on the happenings in a game. You can easily see this while a game progresses, with the cashout value fluctuating due to occurrences in the match.

For instance, the odds change when there’s a red card or a team score in the game, affecting your cash out value. It either increases or decreases based on your predictions in the game.

Calculating Cash Out

The purpose of this section is to calculate cash out betting, which is very straightforward. As mentioned earlier, odds change based on the actions in a game. As the new odds appear, they are multiplied by your stake to determine the cash-out amount.

For instance, if you wager NGN 500 on three different selections having 2.5, 3 and 3.5 odds, your potential payout will be NGN 13,125, backing them to win.

Let’s say two selections are already successful, and the third is currently leading; a cashout value will appear. Let’s put it at NGN 7,850. If you initiate cashout at this point, you’ll receive NGN 7,850. If the last game ends in a draw or loss, you already have a NGN 7,850 payout, so you’re unaffected.

Using this same example, if you initiate a partial cash out from a NGN 7,850 cashout value. Let’s say half of the cashout value; you take a NGN 3,925 payout and leave half of your stake value (NGN 250) to keep running on the bet.

If the final game doesn’t win, you still have your NGN 3,925. However, if the last match eventually wins, you will have NGN 3,925 you cashed out and the remaining NGN 250 stake on 2.5, 3 and 3.5 odds, giving you NGN 6,562.5, making NGN10,487.50 (6562.5+3925) total.

On Which Markets Is Cash Out Available?

Another important step we took on this subject is researching the various markets available for cash out. After completing our investigations, we discovered that many betting sites provide various cash-out rules for their players. Reading the site’s terms and conditions will give you a headway on the markets available to cash out a bet.

Top betting sites in Nigeria offer a lot of betting markets, both for pre-match and in-play, on various sports, especially Football. The common ones that may allow cashout are the Match Result, Correct Score, Totals (Overs/Unders), and Outright markets. However, several other markets exist for cashout on Football, as well as on other sports like Tennis, Basketball, Volleyball etc.

Best Cash Out Betting Sites in Nigeria

Our recent investigations show that most betting sites in Nigeria allow customers to use cashouts. It’s an essential feature to ensure players sign up on the platform. This is why we’ve come up with a list. We rate the following bookies as Nigeria’s best cash-out betting sites.

1
Bet9ja
Review
  • Great Bonus
  • High Odds
  • Live Betting
Register
Nigeria

Verified on 21 Feb 2024

2
Betano
Review
  • Live Betting
  • Mobile App
  • Bet Builder
Register
Nigeria

Verified on 21 Feb 2024

18+. Min deposit ₦100. Wager deposit 10x on Sports/Virtual Sports. Odds above 3.00 for First Deposit Bonus. T&Cs apply.
3
Betwinner
Review
  • Bonus Offer
  • Great app
  • Sports markets
Register
Nigeria

Verified on 21 Feb 2024

18+. Min deposit: ₦4,000. Wagering requirement: 5x/30 days on bonus amount in accumulator bets + WinGames x 30/30 days. At least 3 events in an accumulator must have odds of 1.40 or higher. T&Cs Apply.
4
1xBet
Review
  • Great app
  • Sports markets
  • Welcome Bonus
Register
Nigeria

Verified on 21 Feb 2024

18+. Min deposit: 200% up to 20800 ₦, 250% for 20801 ₦ to 41600 ₦, 300% for 41601 ₦. Bonus valid 30 days. For 200% bonus: Half must be wagered 5x in acca bets (3+ selections, 1.40+ odds). Second half: 30x in 1xGames. For 250%+: Half must be wagered 10x in acca bets. T&Cs Apply.
5
BetKing
Review
  • Bonuses
  • Safe Betting
  • Mobile Betting
Register
Nigeria

Verified on 21 Feb 2024

18+. Offer effective for new customers who have registered from 1st February 2024. The minimum qualifying stake per day to earn a 10% free bet is ₦500. Customers are eligible to earn up to ₦44,000 in Free Bets daily, with a maximum of ₦22,000 from Sports and ₦22,000 from Virtuals. . Full T&Cs apply.
6
Betway
Review
  • Top Odds
  • Great app
  • Live Stream
Register
Nigeria

Verified on 21 Feb 2024

18+ bet on 1×2 results in NaiJackpots to win up to ₦850M, with consolation prizes. Pepper Don Rest Jackpot: ₦25 minimum bet, ₦500,000 prize. Do-Ri-Me Jackpot: ₦50 minimum bet, ₦75M prize. 17 Gbosa Jackpot: ₦100 minimum bet, ₦850M prize. T&Cs apply.
7
AccessBET
Review
  • Mobile App
  • Great Odds
  • Bet Live
Register
Nigeria

Verified on 21 Feb 2024

18+. Max bonus amount 10,000₦, 10 times roll over, 5 sporting events and above. 7.5 total odds selection or more to activate. Full T&Cs apply.
8
Gorillabet365
Review
  • Easy Sign-Up
  • Unique Bonus
  • Betting Markets
Register
Nigeria

Verified on 21 Feb 2024

18+. Extra bonus on winnings based on selections. Min odds 1.25. Final percentage calculated on settled bets. Bonus awarded as cash upon settlement. T&Cs apply.
9
bet365
Review
  • Great odds
  • Help Chat
  • Good app
Register
Nigeria

Verified on 21 Feb 2024

Up to $30 in Bet Credits Min deposit requirement. Bet Credits are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. Registration required.
10
BetBonanza
Review
  • Bet Live
  • Payout Speed
  • Support 24/7
Register
Nigeria

Verified on 21 Feb 2024

18+. Max bonus ₦100,000. Min deposit ₦100. Wager bonus 10x. Min odds 1.85. Second and third deposit codes sent within a week. Activate 100% code in 7 days, 150% in 14 days. Max bonus for 2nd deposit ₦30,000, 3rd deposit ₦10,000. T&Cs apply.

Cash Out Final Verdict

In our evaluation of cashout, there’s no denying that it’s a fantastic innovation for bettors worldwide. While it allows users to control their bets and minimise losses, players must use it smartly.

For instance, knowing exactly how a game is faring will help you decide whether to cash out a bet. When you see that your predictions will likely materialise, leaving your bet until it ends to receive a more significant payout is better.

However, when the actions in the game begin to differ from your predictions, the best move is to cash out instead of losing all your bets, including the stake. The most important thing is to know when to use it. Also, get familiar with the cash out rules on a site before signing up with them.

Whichever form of cashout you decide to use in the long run, we hope our investigations allow you to make an informed decision.

Frequently Asked Question about Cash Out

Our experts answer below the frequently asked questions about cash out.

Players should use the cash out when their bets have accumulated a significant payout and it seems like the rest of the games will be unsuccessful. They can also use it on bets already losing instead of losing their entire stake.

Single and Multi bets are eligible for cash out. After selecting your games, whether pre-match or in-play, you will notice whether they offer cash out in your open bets section.

To take cash out, go to your open bets and click the one that offers cash out. You may then decide to fully or partially cash out your bet.

An example of value betting is backing an underdog team you feel has a chance in a game. In other words, it’s about betting on high odds against the probable outcome of an event.