The cash out feature is a great option for sports bettors on FanDuel Sportsbook. But can you cash out early on a parlay bet?
You can cash out your parlay bet early if each leg of the bet is eligible for cashing out.
Why Your Parlay Bet Might Not Be Eligible for Early Cash Out on FanDuel
Since parlays can include many different types of bets, it is possible that one or more of your legs is not eligible for cash out on FanDuel.
Common bet types like spread, moneyline, and totals should keep your parlay eligible for an early cash out as long as those haven’t been settled yet.
Other more exotic bets like player props, alternate spreads, correct score, etc. may not be eligible for cashing out early. This means that if you have a parlay with one of these bet types remaining, you may not be able to cash out your parlay early.
How to Cash Out a Parlay Bet Early on FanDuel Sportsbook
- Have a parlay bet active with bets that have not been settled yet
- Go to My Bets
- Click on the Cash Out button
Can You Cash Out Early on a Same Game Parlay on FanDuel Sportsbook?
Yes, you can cash out a Same Game Parlay early if each leg of the parlay is eligible for cash out.
Same Game Parlays can be a little tricky to catch for a cash out as bets are constantly being suspended as the game progresses. Sportsbooks don’t like to have a big liability when a game is in progress, especially for fast moving bets like the result of a certain play or pitch.
If each of your legs is eligible for a cash out, then your Same Game Parlay should be able to be cashed out. You will likely need to wait until play has stopped (timeout, commercial, etc.) to see the cash out button activate.
Parlay Early Cash Out Alternatives on FanDuel
If you have a parlay that has hit on all legs so far, you have a few options:
- Let it ride and hope the remaining legs win
- Cash out your parlay early
- Hedge your remaining legs by betting the other side
If you don’t want to let your parlay ride and don’t have the option to cash out, then your other option is to hedge the legs of your remaining bets.
While the idea of hedging is up to each bettor, it is good to know that you have options to lock in profit if that is something that you want to do.
For example, say that you have the following $10 parlay bet:
- Philadelphia Eagles to win NFC (+450) – WON
- Minnesota Vikings to win NFC North (+300) – WON
- Chicago Bears Under 5.5 Wins (-120) – WON
- Patrick Mahomes to lead league in passing yards (+150) – WON
- Kansas City Chiefs to win the Super Bowl (+600) – PENDING
As you can see, this example has won four out of the five legs of the parlay with the Chiefs Super Bowl bet pending.
This bettor could choose to cash out for whatever FanDuel is offering at the moment, bet on the Chiefs to lose the Super Bowl (bet on the Eagles to win), or let the bet ride.
The following table shows a breakdown of the options and estimated expected value of each choice:
|Let Parlay Ride
|Hedge Last Leg
If the bettor wanted to hedge, they could head to another Sportsbook and place a moneyline bet on the Eagles to win the Super Bowl.
If the Eagles win at odds of -120, then their Eagles hedge bet would win (+$3,267), but their parlay bet would lose (-$10, losing a potential of $7,219). As you can see, when a parlay bet with a big potential payout is on the table, you need to evaluate all of your options when offered a cash out.
In this example, the bettor would be better off hedging their bet instead of cashing out since they both give a guaranteed outcome. The hedge bet would result in a guaranteed +$3,267 profit while the cash out would only result in a $2,240 profit.
Is Cashing Out a Parlay Early on FanDuel a Good Idea?
Generally speaking, sportsbooks charge a large vig to cash out. If your stake is big enough and worth your time, it is always worth walking through the math to see what your options are.
If you don’t care about optimizing your results and just want to move on, then taking a cash out is probably a good fit for you. Just know that sportsbooks have more data than you, and are likely offering you a cash out at a rate that has a positive expected value (EV) for them.
Cashing out a parlay early may also be a good idea when you think you have an edge. For example, if the last leg of your parlay bet relies on a Kansas City Chiefs win and QB Pat Mahomes gets hurt during the game, it might be wise to try and capitalize on a cash out before the odds move against you.