The “Cash Out” feature in sports betting allows bettors to settle their bets before the event has finished. It provides an opportunity to lock in profit or minimize potential losses, based on the current circumstances of the bet. Examples:
- Football: Suppose you bet $100 on Team A to win an NFL game against Team B. At halftime, Team A is leading by two touchdowns. MyBookie will offer you a Cash Out amount of $150. If you accept the Cash Out offer, you secure a profit of $50 ($150 – $100) regardless of the final outcome. If you decline the offer and Team A ends up losing, you will lose the entire $100.
- Tennis: Let’s say you bet $50 on Player X to win a tennis match. After the first set, Player X is losing. MyBookie offers you a Cash Out amount of $30. By accepting the offer, you limit your potential loss to $20 ($50 – $30). If you decline the offer and Player X fails to make a comeback, you will lose the entire $50.
How to Cash Out
Wagers which are available to be Cashed Out will be displayed under the Bet Slip tab “Cash Out". A player can also cash out via the Open Bets page.
Wagers, where Cash Out is Not Available, will be listed under the “Unsettled" tab:
Wagers settled in the past 24 hours will be listed under the “Settled Tab". If the wager was Cashed Out, the Settled tab will display the Cashed Out amount the player received. Winning and losing will wagers will also be displayed. The settled tab is sorted by the most recently settled wager first.
Cash Out Statuses
Bets will be switched between two statuses until they have settled: Cash Out Available and Cash Out Not Available. Bets will alternate through these two statuses during an event until the event is settled.
Cash Out Available:
- When this status is active, a player can cash out their Bet. To do so they must click the button stating, “Cash Out $Value". The player must then click “Confirm" on the same button to initiate the Cash Out process.
- A Cash Out Bet request will be confirmed based on the confirmation delay the player received when placing a Bet. For example, a pre-match Bet has no delay when confirming, therefore, the Cash Out will have no delay. A live Bet has a 4-second delay on confirmation, therefore, the Cash Out request for a Bet containing a live selection will also have a 4-second delay. Delays may be updated based on the preference of the Trading Team.
- If the Cash Out offers $value changes during the Cash Out confirmation process, the Cash Out request will be not successful, and the player will be prompted to confirm once again the Cash Out offer. When this happens, the player will be shown the message “The odds have been updated". The Cash Out button will then reappear, and the player must repeat the process to confirm the Cash Out amount.
Cash Out Not Available:
- Cash Out Not Available can occur for any number of reasons. To reduce contacts, we have included a tooltip when the Cash-Out button displays “Cash Out Not Available". The tooltip reads as follows:
- Cash Out is available on selected events and markets both pre-match and in play, on straight and parlay bets. Cash Out is not available on Teasers, Player Props, Horse Racing, or Virtual Sports. For more information on Cash Out rules.
- Cash Out Not Available will also occur in any instance where an event, market, or selection is suspended for Betting. In the simplest form, if the selections in a Bet do not have odds available to bet at the time of cash out, then Cash Out is Not Available.
- When an event is over, but before Bets have settled, Cash Out is Not Available.
Cash Out Account History
When a wager is Cashed Out the ticket will display as Cashed Out in the account history. The amount that the player received back to their balance for Cashing Out the wager is listed at the bottom of the bet ticket next to “Cashed Out"
The risk and potential win amounts are also displayed so that the player has a record of what the original return on the ticket was.
Wagers that are not Cashed Out will display normally as either a Win or a Loss.
Cash Out Terms and Conditions
- Cash Out will be available on selected events and markets both pre-match and In-Play, on straight and parlay bets (Cash out can also be available on Parlays with Open Spots).
- Cash Out is not available on Teasers, Player Props, Horse Racing, or Virtual Sports.
- A time delay in accepting a Cash Out request is in place. If a price changes or a market suspends then the Cash Out request may not be successful. If this happens, you will be prompted to confirm the new amount before the cash-out will be successful.
- If the Cash Out request is successful, this will be displayed and the bet will be settled immediately. The actual final result of the original bet will have no impact on the Cash Out amount.
- The Cash-Out amount offered at any time is the total amount that will be returned to your account if the Cash Out request is successful.
- A successfully confirmed Cash Out offer is final and cannot be undone.
- Cashed Out bets do not count toward rollover.
- We reserve the right to remove all or part of the Cash Out feature for any customer or group of customers where it has reasonable grounds to believe that the customer or group of customers is misusing Cash Out by frequently using the feature to take advantage of pre-event price movements and closing their bets through the Cash Out feature before the event has started.
- We will not be responsible if the Cash Out feature is not available for technical reasons and bets will stand as originally placed during any such period.
- We cannot guarantee that the Cash Out feature will be available on your bet selection.
- Where Cash Out is available pre-event and we do not cover or we stop covering the event In-Play, then Cash Out will be unavailable once the event starts or when our In-Play coverage stops.
- Cash Out will not be available when a market is suspended and has no odds.
- We reserve the right to accept or decline any bet/wager requested for any sport, competition, market, or bet type that is included in the Cash Out feature.
- We reserve the right to amend, suspend, or remove the Cash Out feature (or any part of it) at any time for any event, market, or customer. Any bets placed on such events or markets will stand as originally placed.
- We reserve the right to reverse the settlement of a Cash Out if the bet or a market is settled in error.
- We reserve the right to reverse a Cash-Out wager if the wager was placed on an obvious line error and cashed out upon correction.
- Cash Out is not available for wagers placed using free play.