What it is
Cash out is an offer from the operator to close a bet before the event ends, for an amount it works out at that moment. If you accept, the bet ends there: you receive the amount offered and the final result no longer counts for that bet. If you don’t, the bet carries on as before.
Some operators also offer partial cash out: you close part of the bet and the rest carries on.
How the operator works out the offer
The operator starts from its current odds for the result you backed and takes off a margin. An example with illustrative numbers:
- You staked €10 at 3.60. The possible return is €36.
- At half-time, the operator’s current odds give that result a probability of 40%.
- On those prices, the bet is worth €36 × 40% = €14.40.
- The operator offers a cash out of €13.50. The difference, €0.90, is the cash-out margin.
Because the current odds already include the market’s margin, the offer is below the bet’s value even before that deduction. The guide Bookmaker margin explains how the margin gets into the odds.
Cash out is selling your bet back to the operator, and the buyer sets the price.
What you give up when you accept
- The rest of the possible return. In the example you swap a possible €36 for €13.50 paid straight away.
- The cash-out margin. You pay it every time you accept an offer.
Accepting or declining does not change the probability of the result. It only changes how much you receive and how much you pay the operator for closing early.
Not every bet offers cash out
Cash out is a feature of the operator, not a right set out in the RJO. Each operator decides on which bets and markets it offers it, and the offer may stop being available during a match, under its rules. The rules of the games and the rules for calculating and paying prizes must be published on the site, clearly and kept up to date (RJO, Art. 30(a)), and the operator must pay prizes at the amount announced (SRIJ, operators’ obligations). Read those rules before you count on cash out.
Trying to win back money you have lost is one of the warning signs SRIJ lists. If betting is no longer a pastime, Linha 1414 (ICAD) offers free, anonymous and confidential support on working days, 10:00–18:00.
Official sources
- RJO (Annex I to Decree-Law 66/2015), consolidated text published by SRIJ: Art. 30 (Portuguese)Checked 15/10/2026
- SRIJ · Obrigações das entidades (operators’ obligations, Portuguese)Checked 15/10/2026
- SRIJ · Autoexclusão e proibição (self-exclusion and bans, Portuguese)Checked 13/10/2026
- SRIJ · Serviços de apoio ao jogador (player support services, Linha 1414, Portuguese)Checked 13/10/2026
Frequently asked questions
Does the operator have to offer cash out?
We found no duty in the RJO to offer cash out. It is a feature of the operator, run under its own rules; those rules must be published on its site (RJO, Art. 30(a)).
What is partial cash out?
You close only part of the bet and receive the amount offered for that part; the rest runs until the end of the match. The cash-out margin applies to the part you close.
Why does the offer keep changing?
Because it is calculated from the operator’s current odds, which change as the match goes on.