Adjust your Cash Out Approach using DraftKings' Cash Out Feature for Better Wagering Decisions
Taking Control Mid-Game: The DraftKings Cashout Feature
Want to take charge of your winnings or cut your losses during a game? Look no further than the DraftKings Cashout tool! This feature allows you to seize control of your money mid-game, capitalizing on the game's dynamics and staying in the driver's seat. It's a key part of many bettors' strategies, as they can make the most of shifting live odds and minimize their chances of losing big.
DraftKings offers a top-notch cashout tool that provides enticing offers for ongoing bets. Just like the ever-changing odds and lines at DraftKings, you can expect quality offers during a game, but be ready to act fast! Here, we'll explore the pros, cons, and optimal scenarios for utilizing the DraftKings Cashout feature.
How Cashout Works on DraftKings
Cashout means ending your bet early and taking the offer the sportsbook provides at that moment. After purchasing your bet, you can sell it back to the sportsbook during the game before the bet settles. Should your bet be in a winning position at the time of selling, the offer will be high, close to the potential full returns you would receive if you left the bet to settle at the end of the game.
However, if your bet is in a losing position, DraftKings will offer you a small portion of the cashout. You might end up with less than your starting stake, but on the bright side, at least you've saved some cash by cutting your losses.
Pros
Eligibility of Cashout on DraftKings
Cons
Not every bet at DraftKings qualifies for cashout. If you're betting on the game as a whole, such as moneylines, point spreads, and totals, you should have a cashout option attached to these bets. It doesn't matter if your bet was placed before or during the game. For instance, if you place a bet on the total points just ten minutes after the game starts, DraftKings might still offer you a cashout on that wager 10 minutes later.
DraftKings provides cashout for appropriate pregame and live bets, both for straight bets and DraftKings parlays. The exact offer depends on the likelihood of winning, but be prepared for a significant drop if there's one leg in a parlay that seems destined to lose. Some markets eligible for cashout include:
Easy to Access on Desktop and Mobile Apps
- Pregame Bets: Moneylines, point spreads, totals, quarters/halves, a few player/team/game props bets
- Live Bets: Live moneylines, live point spreads, live totals, very few props bets
- Futures: Outright champions, division/league winners, make the playoffs, and place bets (finish in top 3, 4, etc)
No Icon to Show Which Markets Have Cash Outand Which Don't
The Pros and Cons of DraftKings Cashout
As with any tool, DraftKings Cashout offers its benefits but also has a few drawbacks:
Generous Offers
Pros
No Partial Cash Out Option
- Easy Access: Cashout is easily accessible on both desktop and mobile apps.
- Generous Offers: DraftKings provides competitive cashout offers compared to other sportsbooks.
- Flexibility: Offered for single bets, parlays, pregame, and live bets.
Cons
Available on Pregame and Live Bets
- Lack of Transparency: No icon to indicate which markets have cashout and which don't.
- No Partial Cashout: You get one cashout offer for each ongoing bet; you can't split the offer.
- Limited SGP and DraftKings SGPx Cashout: Not all Super Groups (SGP) and Super Group Crossfire (SGPx) bets come with cashout functions.
- Bonus Bets Exclusion: Bonus bets cannot be cashed out.
Not all SGP and SGPx Come with Cash Out Functions
When Does DraftKings Offer Cashout
You can access the cashout option for your ongoing bets at any time during a game by visiting the "My Bets" section in your account and heading to the Cashout tab. Cashout offers are provided throughout a game, though they may be temporarily unavailable after significant events in the game, such as touchdowns or big drives in football. Keep in mind that cashout is not provided for any wagers placed using bonus bets.
Offered for Parlays, SGP* and SGPx*
The Markets with Cashout and Those Without
Bonus Bets Cannot Be Cashed Out
Certain bets naturally don't have cashout options, as they can be difficult to track in terms of likelihood of winning or specificity. For example, props bets focused on the first team to reach a certain point total in NBA games generally don't come with cashout options.
Here are some markets that typically have cashout features:
- Moneylines
- Totals
- Spreads
- Quarters/Halves/Periods Moneylines, Spreads, Totals
- Double Chance
- Correct Score
- Winning Margin
- Team Totals
Player bets and props can have cashout features as well, but the availability depends on the bet. Be aware that DraftKings may not offer cashout functions to SGP and DraftKings SGPx bets.
The DraftKings Cashout function excels in ease of access, generous offers, and adaptability to various types of bets and bettors. Although it lacks transparency about eligible markets, the tool can significantly enhance your betting experience with its strategic potential. Happy betting!
- DraftKings Cashout tool allows you to take control of your money mid-game, seizing opportunities offered by shifting live odds and minimizing potential losses.
- Cashout means ending your bet early and taking the offer provided by the sportsbook, which can be higher if your bet is in a winning position, but lower if it's in a losing one.
- In DraftKings, you can cash out eligible pregame bets such as moneylines, point spreads, totals, quarters/halves, and a few player/team/game props bets, as well as live bets like live moneylines, live point spreads, and live totals.
- The DraftKings Cashout feature provides enticing offers for ongoing bets, and it's offered for single bets, parlays, pregame, and live bets, although not all SGP and SGPx bets come with cashout functions.
- Bonus bets cannot be cashed out, and DraftKings may not offer cashout functions to all Super Group (SGP) and Super Group Crossfire (SGPx) bets, and certain props bets and futures may not have cashout options due to their specificity and difficulty in tracking the likelihood of winning.
