Following numerous requests, Cloudbet's long-awaited Cash Out feature is now available and begins with Single betting.
What is a Sportsbook Cash Out
A Cash Out is a feature which allows you to lock in returns for your previously placed bets before the original bet has been settled. Cash Outs on Cloudbet are available for selected Pre-match and Live events and markets, for Singles bets at present. More Cash Out betting options may be available in the future on Cloudbet.
Why would you Cash Out your Bets?
By using Cash Outs, you can either lock in your winnings or cut your losses early. Here are a few examples of how you can use Cash Outs to your advantage.
Lock in Winnings: Assume you bet on Barcelona to win a Champions League soccer match as underdogs, and they are leading at halftime, despite the fact that their opponents are resurgent and appear poised to make a comeback in the second half. In such cases, you could choose to Cash Out at halftime and keep your winnings regardless of what happens in the second half of the game.
Cut Losses: You bet on Sascha Zverev to win a Grand Slam tennis match after he dominated the first few sets, but his opponent turns the match around and wins the next few sets. In this case, you may want to cut your losses early by cashing out your initial bet and receiving a portion of your wagered amount (rather than losing it completely in case Zverev ends up losing the match).
Cash Out on Cloudbet
How to perform Cash Outs
- Prior to cashing out a bet, make sure you have placed a straight bet on one of the game line markets where we are currently offering Cash Outs.
- Then, navigate to your "My Bets" or “Bet History” page, where you will notice Cash Out offers for some positions.
- Choose the Cash Out offer you’re interested in and pick the amount you would like to Cash Out before submitting the selection. Please note that you can only Cash Out from the “Group by event” section of the “Open Bets” tab for now and that Cash Out is not available in the “List by date” section.
This section lists the events and markets where Cloudbet is currently offering you the Cash Out functionality.
Events: Available for all Pre-match and Live bets
Cloudbet supports Cash Out for all Pre-match and Live games. Note that Cash Out during live games might take longer to process due to risk management practices.
Markets: Available for all game lines
On the markets front, Cloudbet supports Cash Out for all game lines including winner or match odds, handicap, and total markets. NOTE: Horse Racing & Outrights are not available to Cash Out currently.
Availability for Partial or Full Cash Outs
Cloudbet allows end customers to Cash Out any percentage of their current position. Note however, that if you would like to Cash Out a relatively large staked amount, you may be required to split the Cash Out into multiple transactions due to risk management.
Available for Single Bets at present
Cloudbet’s Cash Out offer is only available for Single Bets currently, but we are looking into extending the Cash Out feature to other bet types as well, stay tuned.
Why is Cash Out not available for my bet on the “My Bets” page?
If a cashout is not available for your bet on the “My Bets” page, it could be due to the following reasons:
- Odds for the market you placed a bet on are unavailable currently. Since current odds are required to calculate your Cash Out amount, we disable Cash Out for such cases temporarily.
- Calculated Cash Out odds are less than or equal to 1.0
- Current position is too little to formulate a Cash Out bet.
- The market you bet on is not supported currently for Cash Out (please see the section “Cloudbet Offering” above for details).
How is a Cash Out calculated?
Cash Out is essentially a new bet that uses the potential winnings of your original bet alongside the current odds available if that bet was placed now.
Cash Out Sportsbook Rules
Please check the Cloudbet Sportsbook Rules for Cash Out. Please note that existing Sportsbook Rules continue to apply.
You can take advantage of Straight bets Cash Out today on Cloudbet. If you have any questions, feel free to contact our Customer Support via Live Chat and they’ll be happy to help.