My bassett hound has a lump about the size of a ping pong ball. Should I get it removed?

I am not sure if the lump is cancer or just a cyst. I was out of work for a year and I just recently went back to work. I am not sure if it will be too expensive but I don't want my dog to be in danger either. He doesn't act like it hurts him at all when I touch it.
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