If you’re an NBA fan, you’ll typically be given an option to cash out if you ever place a bet, whether it’s on DraftKings or FanDuel. However, some bettors — especially beginners — don’t understand what it means to cash out. On top of this, there are some other bettors out there who know what it means but struggle when it comes to correctly timing their cash outs. To help, this guide is going to examine NBA cash outs and the skill of knowing exactly when to do it.

What is a Cash Out in NBA Betting?

An NBA cash out is when you make the decision to end your bet early before it has finalized. Usually, the way it works is like this:

Access your ‘My Bets’ tab

Press the ‘Cash Out’ button on your chosen bet

Receive an early payout

The catch, though, is that your payout will be lower because you’ve decided to end the bet early.

For example, if you’ve bet on the Lakers to beat the Raptors and the Lakers are winning in the 4th Quarter, you might be tempted to cash out early just in case the Raptors make a quick comeback at the end.

Essentially, the whole point of cashing out is to provide yourself with a safety net and secure your winnings before anything bad happens — which is ultimately why it’s such a popular feature with NBA fans across most betting apps.

When it comes to which NBA markets you can cash out for, it varies. In some cases, you’ll find that sportsbooks (e.g. bet365) allow you to cash out for pretty much anything, from simple moneylines to Championship bets. It’s important to recognize, though, that other sportsbooks (e.g. FanDuel) only allow you to cash out sides and totals.

To prevent confusion, this is why it’s a good idea to check your chosen sportsbook’s terms and conditions when it comes to NBA cash outs so that you can avoid potential disappointment.

When Should You Cash Out an NBA Bet?

One of the hardest challenges of being an NBA betting fan is knowing when to cash out a bet. Sometimes, you can move too early and lose a big slice of your winnings. On other occasions, you can move too late and lose the entire bet altogether.

• - The first principle of cashing out is that you should always cash out when a serious in-game event goes against you. If a key player gets injured (e.g. Nikola Jokić) and momentum in the game starts to shift, cash out so that you can secure your winnings before things start to change
• - Next, you might want to consider cashing out if the proposed cash out amount is only 5-10% lower. If you original winnings were set to be $100 but you’re offered a $90 cash out and there’s still another quarter to go, then you can confidently walk away with just a slightly smaller amount than you would have originally won
• - Finally, cashing out is a good idea if a particular bet is making you overly nervous. In the NBA, shock twists and turns can always happen, so there’s never a guarantee with any bet you place. Knowing this, if you’re feeling anxious but your bet is currently set to win (e.g. you placed a future bet on the Celtics to win the NBA Championship at the start of the season and it’s a day before the final) you can simply cash out and take home your winnings early at a slightly lower rate

Also, no matter what level of betting experience you have, only ever join a sportsbook that offers NBA cash outs. Otherwise, you won’t be able to do any type of cash out at all.

Sportsbooks with Cash Out — A Closer Look

Because of extreme demand, lots of US sportsbooks now offer the cashout feature. Some of the leading sportsbooks with this feature currently include bet365, DraftKings, FanDuel, BetMGM, Caesars. Over recent years, it’s actually become a popular trend for sportsbooks to implement a cash out option across their platforms, with BetMGM only recently introducing this feature back in 2020. The reason why there’s been such a pivot to the cash out feature is simple: it’s what bettors want. After all, when you place a bet, it’s a great feeling knowing that you can cash out at any time if your bet is favored to win, as you no longer have to go through the painstaking process of waiting for it to settle, whether you’ve bet on the NBA Finals or just a regular season game.

Oklahoma City Thunder Bettor Cashed Out At $81k — One of the Biggest NBA Cash Outs Ever

NBA cash outs were first introduced to the betting world back in the 2010s. Since then, there have been some huge cash out moments. Which one stands out the most? Well, you only have to flashback a few months to earlier this year when Wayne Shelton went viral on the internet after cashing out a Championship-winner parlay at $80,900. After originally placing a parlay worth $1.7 million — yep, million — on the OKC, Texas Rangers and Kansas City Chiefs to win their respective championships at +1143000 odds (helped by a 50% boost), the man ultimately decided to cash out, stating that:

"They're offering 80 (thousand) and I don't think I can take any more. I want to keep going, but I'm a single dad. The money would be wonderful."

This story took the internet by storm and is ultimately the perfect encapsulation of why cash outs are such a helpful tool. In this case, Shelton used the cash out option made available to him by DraftKings after placing his initial $100 bet, allowing him to secure $80,900 and walk away an extremely happy person.

Conclusion

If you place bets on the NBA in the future, always be conscious that a cash out option will likely be available for you to use. Knowing when to push that button can be difficult, but it’s generally recommended you do it when the opportunity to secure a healthy profit on your initial bet is there without taking too much of a loss. It’s also a great way to promote responsible gambling, too, as NBA fans can now place bets with much greater peace of mind knowing that cashing out is an option that will sometimes be on the table.