Cash Out with DraftKings

📖How to Use Cash Out
❓What is Cash Out
📊How DraftKings Calculates
💡Suspended Cash Out
📈Cash Out Strategy

At DraftKings, there is a great feature offered for active bets. If a bet is not going to win or if bettors want to secure a profit before things in a game change, the Cash Out feature can be used. DraftKings is one of the most trusted sportsbooks operating in the US and this feature is just one of many reasons customers choose to be DraftKings members.

This useful feature can be used on a PC or a mobile device and allows customers to have more control over their bankroll. If long-term profits are the goal, be sure to read on to learn more about how Cash Out works at DraftKings and when to use this incredible tool. If you'd like more info on all of the features available, check out our full DraftKings Sportsbook review.

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How to Use Cash Out at DraftKings

Since online betting became legal in the US, bettors have turned to DraftKings for all their betting needs. The Cash Out feature is one reason many chose this site, though it is not the only US sportsbook featuring an early payout option. Not sure how it works? These simple steps are all that are required to take full advantage of this feature.

Place a Bet – Log in at DraftKings and place a wager on the preferred sport or event. Bets can include moneylines, over/under, point spreads, parlays, and others.
Access My Bets – Click on the tab located at the top of the page. This will open up all active bets.
Select Cash Out – Any active bets that are eligible for Cash Out will have a yellow button next to the wager. Click on this to confirm the cash out and enjoy secured profits or limit losses.
Collect Funds – After Cash Out is selected, it cannot be reversed. The amount offered by DraftKings will be instantly credited to the bankroll. The funds can be used for any betting activities.

What is Cash Out

For those who place bets and are unsure of the outcome, the Cash Out feature with DraftKings can be beneficial. This feature allows users to cash out an active bet before the end of any event. This provides a great way to limit losses if the bet is losing. It also provides a super way to secure some wins. Each Cash Out option will be for different amounts and this will be set by DraftKings.

This feature can be used when placing all sorts of bets. Whether users choose to wager on pre-game events, live sports, futures, or parlays, Cash Out can help reduce risk and provide some payouts. While the returns will not be as large as if the bet won, it is a good way to maintain a bankroll and prevent losses.

How DraftKings Calculates Cash Out Amounts

At DraftKings, when a cash out is offered, it will be based on different factors. It all comes down to the value of the bet that has been placed. When a moneyline or point spread bet has been placed, it is fairly easy to determine the value. However, things are more difficult with futures or parlays. Parlays can be tricky for Cash Out since every leg of the bet must be eligible.

The team at DraftKings will choose the Cash Out odds by using a combination of real-time odds along with risk. This will all be based on the amount of the original wager. The sportsbook will take a look at current odds and the possible final results. The easiest way for bettors to determine if the Cash Out offer is a fair deal is by dividing potential earnings by the odds that are currently listed.

Suspended Cash Out Explained

With many markets offered, DraftKings has a lot to cover and there are events and games that are always happening. While this does mean there are endless betting options, it also means that the Cash Out feature may be suspended at times. This is done to limit the risk for DraftKings while games are in play. There are many instances when the feature may be suspended.

One case could be when a play is under review. If the final determination by the umpire or ref would cause a close game to be won, Cash Out will not be an option. It is also common for the feature to be suspended when the games are coming to an end. When suspended, there will be a greyed-out option on the bet slip.

Any incident that can instantly affect the outcome of a game or match may cause a suspension in the Cash Out feature. This can be penalty shots, corner kicks, pitching changes, reviews of plays, and many other scenarios that can impact final scores. These significant events will change the odds quickly when games are close to ending.

Cash Out Strategy

After learning how Cash Out works, it will be time to take advantage of it and use this with a betting strategy. There are multiple instances when Cash Out can be advantageous. Here, we look at a few tips for different bet types.

Parlays – When betting on multiple games, the parlay cash out option can be a bit difficult. It is often suspended due to various game conditions. The best thing is to spread out parlays and bet on events that are not taking place at the same time. This provides more time to analyze the cash out option to see if there is value. With parlays, it is important to keep updated on all odds and any changes in the game that can affect any leg. If a bet has been placed with 7 games and the final two are uncertain, Cash Out could be a good option to secure some profit.
Live Betting – Using Cash Out with live betting will require fast thinking and action. Many fast-paced sports are offered for live betting and with these, the cash out amount can change often and drastically. When live betting, always have complete knowledge of the sport as well as the teams or players involved. One great tip is to avoid using the feature if the selected team is ahead by two goals or more.