Cash Out can be offered both on bets that are going well for you, and for bets which are not doing so well, allowing you to cash in on the favourable position for a guaranteed return, or limit your losses by closing out your position for a smaller return in instances where you think letting the original bet run might ...
Some sportsbooks offer Cash Out for moneyline wagers, point spread wagers, parlays and futures bets. The option to Cash Out is particularly useful if a bettor has a futures wager on a long shot that doesn't seem fit to finish as strong as they start.