In betting parlance, it’s called “the sweat.”
It’s the exhilarating but sometimes stomach-churning feeling when big money is on the line.
Some bettors, though, prefer the sure thing. And that’s where Cash Out and Partial Cash Out – PointsBet’s newest feature – enter the picture.
WHAT IS CASH OUT?
Some bets trigger an immediate Cash Out, which is an offer from PointsBet to settle your wager before or during a contest. Perhaps you’ve changed your mind due to last-minute injury news? Or you simply would rather invest elsewhere. You can press or click on Cash Out for an immediate return.
It’s your call.
To cash out, simply go to your account menu in the upper right corner and then select Pending Bets. Find the wager that interests you, hit Cash Out and then confirm the selection.
WHEN SHOULD I USE CASH OUT?
Let’s say you’ve hit the first three legs of a $100, four-team parlay. The payout is $1,500, but you’re feeling queasy about the fourth leg. Should you cash out for, perhaps, $750? Or let it ride?
Or maybe you wagered $20 on Alabama to win the NCAA tournament when the Crimson Tide were +6600 (i.e. 66-to-1). The bet would have paid $1,340. Before Alabama took the floor against UCLA, the Cash Out value was $89.70. By the time the final buzzer sounded, the value was zero.
WHAT IS PARTIAL CASH OUT?
Partial Cash Out, which PointsBet added in 2021, gives clients a third option. They can take some cash and still enjoy “the sweat.” Partial Cash Out is available in all markets where Cash Out is currently running.
To partially cash out, simply use the slider to select the desired amount. As for the remaining amount, let it ride!