Cash-out

With cash-out, the bookmaker offers to end your running bet early in return for an amount it quotes there and then. You hand your bet back to the provider before the event is decided. The amount offered depends on how your bet currently stands. If your tip is ahead, the offer is higher than your stake. If it is behind, you get less back, but you avoid losing the lot.

The cash-out amount keeps changing, because it tracks the current live odds. Every goal, every card and every minute can move the amount offered. You decide yourself whether and when you take the offer.

Important: at Tipico, the cash-out amount is only credited once all matches on the betting slip have been settled. The cash-out ends the bet, but the money only arrives after that. So don't plan with an amount that has not been credited yet.

The guide Live betting at the betting shop explains the wider context.

Suppose you have staked 10 euros at odds of 3.00. If you win, that would be a possible payout of 30.00 euros, i.e. stake times odds. In the live match your tip goes ahead, but the finish is open. The provider now makes you a cash-out offer:

If you accept the cash-out, you secure 18.00 euros instead of the possible 30.00 euros. So you give up part of the possible winnings and trade it for security. If the match turns afterwards, you have still kept 18.00 euros. If, on the other hand, you wait and your tip comes in, you get the full 30.00 euros. If it doesn't come in, you lose your stake. The cash-out is therefore the choice between a secure smaller amount and an uncertain larger payout. With a partial cash-out you could also secure only half. Then you take around 9.00 euros immediately and let the rest run on at the full odds. That way you combine both routes and don't have to decide on an either-or.

Not all cash-out is the same. Depending on the provider there are different forms that give you different amounts of control:

• Full cash-out: you end the entire bet and take the amount offered
• Partial cash-out: you secure part of it and let the rest run on
• Auto cash-out: you set a target value at which the bet ends automatically

The partial cash-out is a compromise between safety and chance. You take out part of your money and let the rest run at the full odds. That way you lock in something but stay in for a possible big win. The auto cash-out takes the decision off your hands in a hectic live match, because it triggers automatically at an amount you set. That is handy if you can't watch the match throughout, or don't want the tension to rush you into a quick decision.

Not every bet can be ended via cash-out. Free bets are often excluded, as are some system and outright bets. Individual markets can also be left out. Whether cash-out is even available for your particular bet is shown by the provider right on the betting slip.

Cash-out gives you control, but usually costs part of the possible winnings. This comparison helps you place it correctly:

• Advantage: you can lock in a win before the match turns
• Advantage: you can limit a loss instead of losing everything
• Advantage: the partial cash-out lets you combine safety and chance
• Disadvantage: the cash-out amount is below the possible full payout
• Disadvantage: not every bet and not every provider offers it
• Disadvantage: in the rush of a live match you can easily make a snap decision
• Disadvantage: across many bets, cashing out often costs you in payout

The cash-out is always a compromise between safety and possible winnings. The provider builds a safety margin into the offer, much like the betting margin. That is why the amount offered is almost always below the mathematically fair value. That is no drawback in a single case, but it adds up if you cash out all the time.

Typical mistakes happen with cash-out. During a running match especially, the tension tempts you into snap decisions. These points help you stay calm:

• Don't rush: a single goal conceded need not trigger the cash-out at once
• Check the offer: weigh the amount offered against your stake and the full payout
• Know when it is credited: at Tipico the amount only arrives once all matches on the betting slip are settled
• Know the exclusions: free bets and some special bets are often left out
• Decide in advance: decide in advance when you want to use a cash-out

Take your time when you decide whether to accept an offer. During a match the amount changes fast, and a decision made out of nerves is one you often regret. Sports betting is permitted from the age of 18 (21 in Bremen). Only stake money whose loss you can cope with.