What Cash Out Actually Costs

Cash out lets you settle a bet before the event finishes, for an amount based on the current market position.

That amount is not the mathematically fair value of your position. The book reprices the remaining outcome using its current odds, which already include margin, and typically applies a further deduction.

Taken consistently, cash out therefore reduces expected return compared with letting bets run. What it buys is certainty and reduced variance, which some people reasonably value.

Partial cash out and auto cash out are the same mechanism with more granularity. Treat the feature as insurance you are paying for, not as a way to lock in profit for free.