BetMGM Cash Out Feature
30 June 2020
Last updated: 20 February 2021 at 4:03 am
Safeguard your winnings…
Early cash out is one of the most popular sports betting features a sportsbook can offer. BetMGM introduced the cash out function a couple of months back and we have tested the feature.
One of the most obvious pros with using a cash out function is that you can safeguard your winnings before your bet is settled. The largest downside with early cash-out is that the potential winnings will be lowered as BetMGM will take a portion of the money as a way to reduce the risk when customers are cashing out early.
BetMGM does not offer cash out options on all sports markets but the good thing is that all major sports leagues such as the NFL, NBA, MLB, NHL and more will offer cash out on almost every single event.
Examples on how early cash out can look like: $10 pregame bet on the Chieds -5.5 over the Cowboys.
✅ Chiefs lead the Falcons 16-0 at the end of the first half. BetMGM offers a $15 cash-out and you have the option to take the $15 or wait until the game ends with and walk away with $20 if Chiefs covers the -5.5 spread.
✅ Cowboys are up 24-16 at in the beginning of the 4th quarter and Chiefs must score 14 points more than Dallas to cover the -5.5 spread. With Cowboys now being the favorites to win BetMGM now offers a cash out of $3. You can either cash out the $3 and cover some of your losses or sit back and hope that Chiefs comes back and win with more than 5.5 points.
How to use the BetMGM cash out function
Time needed: 2 minutes.
How to find and use the BetMGM cash out function
- Click on the Visit BetMGM button below
- Register an account and make a deposit
- Find a game to bet on and place your bet
- The Cash Out option is displayed in the My Bets section of the bet slip (in-play betting) or the Cash Out section (pregame).
BetMGM Cashout FAQ
A cashout function is a feature offered by sportsbooks which gives you the option to cash out your bet before the bet is settled.
Cashing out before the bet is settled is a way to safeguard your winnings.
The downside with activating the cashout is that your potential winnings are lowered. The cash out comes at a prize just like any insurance.