It depends on the bookmaker. Some offer cash-out options for each-way bets, and cash-out allows you to settle the bet before it ends and the bookmaker will offer you a portion of the overall winnings. This depends on how the participant performs in-play, and cash-out winnings fluctuate when the competition is ongoing. If the participant is performing below expectations, the cash-out value may be lower than the original stake. Each bookmaker will state if it is offering cash-out options or not, always check before placing the bet.