Cash Out Calculator: Fair Cash Out Value
Select Odds Type:
$
$
Leg 1
| Fair Cashout Value | |
| Kept by the Book | |
| Vig | |
| Hold |
What it does
The cash out calculator works out what your parlay ticket is worth right now (its fair cash out value) and compares it with the book's cash-out offer. The gap is what the book keeps. Related: should you hedge the last leg of a parlay.
What the book keeps, as a share of fair value.
What the book keeps, as a share of the offer.
How to use
Enter your wager and the cash-out offer.
Enter the odds you bet each leg at. Tick Leg already hit for legs that won.
Enter the current odds for each open leg (no-vig odds give the truest value), then click Calculate.
Worked example
$100 three-leg parlay at +100 per leg
Two legs have won. The last leg is now -150.
- Potential payout
- $800
- Last leg’s chance at -150
- 60%
- Fair value
- $800 × 60% = $480
- Cash-out offer
- $420
- Kept by the book
- $60
- Hold / Vig
- 12.50% / 14.29%
FAQ
How does a cash out calculator work?
It multiplies your ticket payout by its chance of winning now, from each open leg's current odds, and compares that fair value with the offer. A $300 ticket with one open leg at a 60% chance is worth $180, so a $160 offer keeps $20.
What is a fair cash-out value?
What your ticket is worth now: its payout times its chance of winning. A ticket paying $300 that is now 60% to win is worth $180.
Why are cash-out offers always below fair value?
The book takes its margin again when it reprices your ticket, so routinely cashing out loses money.
When does taking the cash-out make sense?
When the offer is close to fair and you want less risk, or when you think the ticket is less likely to win than the live odds say.
What do vig and hold mean on a cash-out?
Both measure what the book keeps. Hold is that amount as a share of fair value, vig as a share of the offer: a $90 offer on a $100 ticket is a 10% hold and an 11.11% vig.