Cash-out has become one of the best-loved online gambling features and as a major international gambling company, it’s no surprise to learn Paddy Power offer this to their customers.
Before waiting for the event to end, you can Cash Out to lock in a profit or loss. Paddy Power conducts the arithmetic in real-time to give you a value for your current bets based on current market pricing. On the Paddy Power Sportsbook, Cash Out isn’t accessible for all markets, but it is for many, such as popular football and horse racing markets.
Sometimes you may want to let your acca run and choose not to cash out. Hopefully your bet is still a winner. If that is the case then you will probably want to withdraw your Paddy Power winnings.
How The Cash Out Value Is Calculated
The cash out value is calculated based on the current odds of the selection, minus what is known as a cash out tax, usually around 5%.
For example, a £10 bet on something with odds of 2.0 (1/1) would return £20. Before the event takes place, if the odds are the same, the cash out value might be £19.
What does cash out mean on Paddy Power?
Cash-out is a feature available at Paddy Power that allows you to finish your bet early and accept the offer made by the trading team. This serves two purposes.
It’s great for the bettor as it can give you a profit from a bet that would otherwise be a loser and it gives the bookie an opportunity to reduce the damage if you have made a smart bet.
For example, if you place a football accumulator with potential winnings of £1000 and you accept £750, the traders will take the hit and view that as a £250 saving.
Partial Cash Out
Partial cash out allows you to cash out part of your bet and leave the other half to run and be settled after the event has taken place.
This is ideal for bettors who want to lock in a return or some profit with the partial cash out, but allow the remainder of the stake to run with the bet as intended. It allows indesicive punters to walk away with some money from the bet, and keep the rest to run in order to satisfy the curiosity.
How do I cash out on Paddy Power?
Using the cash-out feature on Paddy Power couldn’t be simpler. Here is a guide to help you.
- Open the “My Bets” section of the website. This is on the right side on the desktop site or from the menu on the app.
- Find bets eligible for cash out with the big green “Cash Out” button underneath.
- Change the cash out value by clicking the slider button next to “Cash Out” and adjusting the slider to change the amount.
- Press the green “Cash Out” button to cash out.
- Press the confirm button to finalise the cash out.
Warning: Your bet will not be reinstated if you accidentally press the cash out button. Turn on the Confirm Before Cash Out option at the top of your My Bets section to avoid mistakenly cashing out.
Why can’t I cash out on Paddy Power?
If you cannot withdraw cash, it is most likely due to one of the following factors.
- Cash-out is not accessible on the market you bet on.
- If your cash out value is less than the Free Bet amount you used, you will be entitled to cash out again if the value rises.
- Due to match events and market suspension, the market is temporarily paused. For example, when prices change after a goal, VAR, a break point, a try, and so on. Suspension is more likely if the wager includes numerous in-play games, and patience may be required.
- The market does not go in-play
- Unfortunately, the third-party source who was supposed to cover the sporting event could not do so as planned. As a result, pricing and cash-out have been lost.
Can You Cash Out Inplay Bets?
Paddy Power cash out isn’t just available to pre-game bets. If you gamble on an in-play market there’s a good chance you will be offered a cash out value on your bet. The cash out value offered is no different from what will be offered to those who gambled on the pre-game markets.
The attractive thing about in-play cash out is it’s possible to make a quick-fire profit. Suppose you placed an in-play bet on a football match that is currently level. You backed a team to win, and they score not long after your bet is struck. The cash-out value offered to you will jump up, and you can secure a profit in minutes.
What does confirm before cash out mean?
Paddy Power gives users the option to enable the “Confirm Cash Out” button. When enabled, users will have to confirm their cash out choice after pressing the button. It acts as a good safety measure to prevent accidental cash outs.
When disabled, bets will be cashed out by simply clicking the “Cash Out” button. Some users might find this can easily be pressed accidentally, therefore costing them lots in the potential winnings they could have gone on to win.
It is advised to have the confirm option enabled. For the sake of an extra button to press and a few extra seconds, it prevents accidental cash outs.