Start Polymarket
Sign Up

Cash-Out Calculator

Enter your bet and the bookmaker's cash-out offer to see the bet's fair value, how far below it the offer is, and what selling the same position on Polymarket would pay.

$
$
Potential payout
$340.00
Fair value now
$200.00
Cash-out offer
$170.00
Below fair value
15.0%

The bookmaker is keeping $30.00 (15.0%) of your bet's fair value.

Selling the same position on Polymarket

340 shares at $0.59

Sell now (market order)
$195.88
Sell with a limit order
$200.00

Fair value = stake × odds taken ÷ current odds. On Polymarket the same position is (stake × odds taken) shares, worth 1 ÷ current odds each. Taker fee = shares × feeRate × p × (1 − p); limit orders that rest on the book pay no fee. Assumes Polymarket's price matches the bookmaker's current odds; with no vig in Polymarket's price, it is usually better.

How to Use the Cash-Out Calculator

  1. Enter your stake and the odds you took.
  2. Enter the current odds on your selection, as shown by the bookmaker now.
  3. Enter the cash-out offer.

The calculator shows the bet’s fair value at the current odds and how far below fair value the offer sits.

The Fair Value of a Bet

At any moment a bet is worth its payout multiplied by the current chance of winning:

Fair value = stake × odds taken ÷ current odds

Example. You bet $100 at 3.40, a potential payout of $340. Your team takes the lead and its odds shorten to 1.70 (a 59% chance). Fair value is $100 × 3.40 ÷ 1.70 = $200. A cash-out offer of $170 is 15% below fair value: the bookmaker keeps $30 for buying the bet back.

The bookmaker’s current odds include its vig, so even the “fair value” built from them is slightly low. For a sharper number, strip the margin with the no-vig calculator and enter the fair odds as current odds.

Why Cash-Out Offers Are Low

In our experience, bookmakers typically set cash out about 10% to 20% below fair value, and further below on long shots. That’s on top of the vig in the odds. Cash out in betting explains how it’s priced, when cashing out still makes sense, and when a hedge is better.

Selling on Polymarket Instead

On Polymarket a bet is a position in shares, and each winning share pays $1. Your $340 payout is 340 shares. When the price of your outcome rises, you sell the shares to another trader at the market price. There’s no cash-out offer and no bookmaker margin.

The calculator assumes Polymarket’s price matches the bookmaker’s current odds and shows what you’d receive:

  • Selling now (market order): fair value minus the taker fee, shares × feeRate × price × (1 − price). On most sports that’s 0.05; on NFL and college football games it’s 0.03.
  • Selling with a limit order: fair value with no fee, if a buyer fills your order.

Because Polymarket’s prices contain no vig, its price is usually better than the bookmaker’s odds imply. Selling only works as well as the market is liquid: on major games the order book is deep, while player props and niche markets can be thin. Polymarket sports betting explains how it works.

Frequently Asked Questions

How is cash out calculated?
The fair value of a bet is stake × odds taken ÷ current odds. A $100 bet at 3.40 on a selection now priced at 1.70 has a fair value of $200. Bookmakers then set the cash-out offer below that figure.
How much do bookmakers take on cash out?
In our experience, cash-out offers are typically about 10% to 20% below the bet's fair value, and further below on long shots. The bookmaker's current odds also include vig, which lowers the starting figure.
Is it better to cash out or hedge?
A hedge, a bet on the other side at a good price, often locks in more than the cash-out offer because it avoids the cash-out margin. It needs another bookmaker or an exchange with a good price on the opposite outcome.
What should I enter as current odds?
Use the bookmaker's current odds on your selection. For a more accurate fair value, remove the vig first with the no-vig calculator and enter the fair odds.
Can you cash out on Polymarket?
Polymarket has no cash-out button. You sell your shares to another trader at the market price at any time, before or during the event. You pay a small taker fee if your order fills immediately, and nothing if you post a limit order that rests on the book.