Cash Out is a special feature offered by top online sportsbooks in New York. This promotion at BetMGM lets you settle a bet early before it’s run its course. Cash Out is a good way of securing a profit without seeing the entire game through.
How does cash out my bet work?
For example, imagine you backed a soccer underdog $10 @ +400 to win against the favorites. It’s 80 minutes into the match and the underdog is winning 1-0. However, there is relentless pressure from the favorites and an equalizer could come any moment.
Worried about the draw, you decide to trigger the Cash Out and secure a profit right there. You check your bet slip and the sportsbook is offering you +200 if you settle the bet early. You can guarantee a $2,000 return without worrying about what happens in those last 10 minutes.
Cash Out isn’t available on all markets. However, you’ll see whether the service is available once you place your bet. You can action the Cash Out manually on the bet slip. Once you select Cash Out, the bet will settle and you will be paid the sum displayed on the screen. The total Cash Out payout obviously changes as the game progresses and the circumstances change.
At BetMGM NY, you can also choose the Auto Cash Out option. You must select a payout you’re happy to reach before the sportsbook automatically triggers a Cash Out. In addition, BetMGM offers a Notify Cash Out feature. You’ll be notified when you’ve reached your set payout limit. You have the option of accepting the Cash Out or letting the bet ride.