Cash out option

Wazza

Well-Known Member
#51
I'm guilty as charged, but it's not really amazing. When you see bookies thieving people's money it's very easy to get passionate.
Long as you get paid out alright that’s how it is - that’s that big problem with some now. Why in a coin toss 2 way event the prices are never evens both side at the end of the day, most bets struck by punters are worse value than cash out!
 

Wazza

Well-Known Member
#52
Happened to me.

The wean cashed out for 25 quid on a £500 coupon.

Argued my case with the bookie that I didn’t cash out but they just told me I must have done it by accident and told me me to disable the one click cash out button.
To be fair mate unless you were losing a fortune to them they were never going to say “ok, here’s the full winnings as a gesture of goodwill”.
 

Graemeh89

Well-Known Member
#53
Don't bet that often but decided to cash out for £1 bet yesterday at £40 but if I let it play I would have £92. Just wondering what kind of money other folk have cashed out on but could have won ?
Don’t normally bet boxing but was watching Haye v Belew fight couple years back and had £10 on Belew to win in the 11th at 100/1 (seems huge odds now but he was the underdog and the bookies obv fancied it to finish early) I cashed out for £240 odd quid at the end of round ten. And haye went down in the 11th. Terrible feeling.
 

Wazza

Well-Known Member
#54
The cash out option made bookies millions and that's from a Director of a major bookies.

I've been doing the American nags recently and had a horse last week as a dirt specialist at 8/1 (some Vietnamese name I can't remember), so it crashed to Evens on 365 as the race was switched to dirt during a downpour and I was offered £257 on cash out from £100 staked...I tapped it out as risk free profit, of course it romped home.

I then tapped out a £100 bet on a 5/1 shot at Santa Anita, and re-bet for £50...again it romped home.

Next thing on Sunday morning, I get the message from 365 advising I wouldn't be allowed cash out on any horses again.

I'm not sure their doing this for my own good.
So you cashed out a £100 bet at 5/1, got the £100 back, had £50 on it again at 5/1, it won at 5/1 and they disabled cash out on horses for you as a result?
 

Dogbert

Well-Known Member
#55
So you cashed out a £100 bet at 5/1, got the £100 back, had £50 on it again at 5/1, it won at 5/1 and they disabled cash out on horses for you as a result?
I'm simultaneously a great and awful gambler.

Add in I cashed out a £100 bet for £250 odd before the race even ran...and you can see why they do it, but it saved them a lot of cash and that's how it makes them a profit.
 

Wazza

Well-Known Member
#56
I'm simultaneously a great and awful gambler.

Add in I cashed out a £100 bet for £250 odd before the race even ran...and you can see why they do it, but it saved them a lot of cash and that's how it makes them a profit.
One of the daftest trading decisions I’ve ever heard of to be honest pal and I’ve seen a few!

Mind you do you often beat the sp on Horse Racing?
 
Last edited:

TB12

Well-Known Member
#58
cashed out for £8 on an accu a couple years back and it came up for £440. was raging and vowed never to cash out again.
 

Fat Halpert

Well-Known Member
#61
Used Bet365's matched in play bet a few years ago to put £50 on a final score of PSG 2 - 2 Man City at 16/1. Fernandinho scored to make it 2-2 with about 20 mins to go and I instantly cashed out for around £400 convinced there would be more goals. Game went on to finish 2-2, which I would have got £800 for.
 

The_Degan

Well-Known Member
#62
The cash out option made bookies millions and that's from a Director of a major bookies.

I've been doing the American nags recently and had a horse last week as a dirt specialist at 8/1 (some Vietnamese name I can't remember), so it crashed to Evens on 365 as the race was switched to dirt during a downpour and I was offered £257 on cash out from £100 staked...I tapped it out as risk free profit, of course it romped home.

I then tapped out a £100 bet on a 5/1 shot at Santa Anita, and re-bet for £50...again it romped home.

Next thing on Sunday morning, I get the message from 365 advising I wouldn't be allowed cash out on any horses again.

I'm not sure they're doing this for my own good.
Let me get this right you had £100 at 8/1 and it goes to Evs and you think taking £257 is a good trade ?
 

The_Degan

Well-Known Member
#64
Long as you get paid out alright that’s how it is - that’s that big problem with some now. Why in a coin toss 2 way event the prices are never evens both side at the end of the day, most bets struck by punters are worse value than cash out!
The point your missing is the cash out adds an even bigger margin for the bookies . It’s daylight robbery anyone using it , I hope they’re betting for enjoyment because it’s not to make money .

There’s nothing wrong with trading but using a bookies cash out is betting suicide .

Also to the point folk have made about having a few teams winning one nil well again betting accas isn’t profitable hence the reason bookies push 5 team accas etc .
 

Wazza

Well-Known Member
#66
The point your missing is the cash out adds an even bigger margin for the bookies . It’s daylight robbery anyone using it , I hope they’re betting for enjoyment because it’s not to make money .

There’s nothing wrong with trading but using a bookies cash out is betting suicide .

Also to the point folk have made about having a few teams winning one nil well again betting accas isn’t profitable hence the reason bookies push 5 team accas etc .
I know mate, I've been in the business for 16 years.

Time I can understand people using it is say you have a big combo, lets say 10 selections and 7 are up already (£5 to win say 5k, a daft bet - no thought really behind it) and there are 3 Football matches going on with the same kick off and all 3 are a goal ahead with 80 mins gone - how do you lay a bet off like that yourself? Totally different when you are talking about singles obviously, complete rip off.
 

The_Degan

Well-Known Member
#67
I know mate, I've been in the business for 16 years.

Time I can understand people using it is say you have a big combo, lets say 10 selections and 7 are up already (£5 to win say 5k, a daft bet - no thought really behind it) and there are 3 Football matches going on with the same kick off and all 3 are a goal ahead with 80 mins gone - how do you lay a bet off like that yourself? Totally different when you are talking about singles obviously.
Fair enough I can see where you coming from but if you’ve been in the industry you’ll know you can’t win long term betting 10 folds . No doubt some get lucky but multiples are a bookies dream . Cash out came from the betfair exchange which was singles only and that sort of trading there’s nothing wrong with . Especially at the start there was no extra fee added .
 

Wazza

Well-Known Member
#69
Fair enough I can see where you coming from but if you’ve been in the industry you’ll know you can’t win long term betting 10 folds . No doubt some get lucky but multiples are a bookies dream . Cash out came from the betfair exchange which was singles only and that sort of trading there’s nothing wrong with . Especially at the start there was no extra fee added .
Oh aye definitely, just for lads having a fun bet and a bit of a laugh - amazing some of the stakes you see on some accas now from screenshots etc...

As you will know some of the best Gamblers/Traders are ones who have made their money long before an event is over and the result is not massively relevant to their final profit on it.
 

The_Degan

Well-Known Member
#70
Oh aye definitely, just for lads having a fun bet and a bit of a laugh - amazing some of the stakes you see on some accas now from screenshots etc...

As you will know some of the best Gamblers/Traders are ones who have made their money long before an event is over and the result is not massively relevant to their final profit on it.
Totally although a lot harder to do now with the destruction of the betfair exchange due to the premium charge and latterly paddy’s takeover .
 

Dogbert

Well-Known Member
#71
Let me get this right you had £100 at 8/1 and it goes to Evs and you think taking £257 is a good trade ?
For the first time dealing with Dirt Track Form, it was OK to book a profit if you're not sure about the bet.

I'm just learning at present and I agree it was a dumb move in terms with f flagging my account.
 

Maweepaljoe

Well-Known Member
#72
My mate had £50 @ 50/1 on Ross County to beat the filth 3-1 in the cup semi a few years ago. If you recall it was indeed that score but most of the 2nd half to go. I admit I was urging him to cash out for about £900, he showed he had balls by letting it run. Cue the traditional Sellik penalty and I was giving him pelters only for Thumb Heid to miss it. He duly cashed out for about £1600 and the game finished 3-1. a real roller coaster and who's to say what anyone should do in that position?
 

Wazza

Well-Known Member
#73
For the first time dealing with Dirt Track Form, it was OK to book a profit if you're not sure about the bet.

I'm just learning at present and I agree it was a dumb move in terms with f flagging my account.
Does that happen a lot over there - going from turf to dirt at short notice? Would have thought bets struck based on the race being on turf would be void when that happened.
 

Dogbert

Well-Known Member
#74
Does that happen a lot over there - going from turf to dirt at short notice? Would have thoughts bets would be void like when that happened.
Depends on the weather, that's why you get big swings on odds as there can be a dirt specialist hiding in there.
 

Wazza

Well-Known Member
#77
My mate had £50 @ 50/1 on Ross County to beat the filth 3-1 in the cup semi a few years ago. If you recall it was indeed that score but most of the 2nd half to go. I admit I was urging him to cash out for about £900, he showed he had balls by letting it run. Cue the traditional Sellik penalty and I was giving him pelters only for Thumb Heid to miss it. He duly cashed out for about £1600 and the game finished 3-1. a real roller coaster and who's to say what anyone should do in that position?
Exactly, he would have taken that when the penalty was awarded and then he got lucky with the miss - why be greedy. Granted he could have laid off himself for more but would have needed a decent wedge to put on and not everyone has it.
 

ScottXC

Well-Known Member
#78
What I don't get is the people that are cashing out for £2/£5/£10, a small multiplier on their stake essentially. Worth letting it run on the off-chance you get lucky. Make's no sense to cash out for your stake in any bet (for me anyway).

I get it for people with a £10 accumulator on, sitting on about £300odds and get that feeling that it's worth having the guaranteed money sitting in the account rather than waiting until the 89th minute for that goal that bins the entire coupon & the 500/600 returns.

Bookies most definitely win in the end, but Joe Bloggs can have a good weekend with his £300, rather than sitting in fizzing that Rotherham have conceded another late goal to be added to the black list, again.
 

Raj Kebab

Active Member
#80
Exactly, he would have taken that when the penalty was awarded and then he got lucky with the miss - why be greedy. Granted he could have laid off himself for more but would have needed a decent wedge to put on and not everyone has it.
Absolutely terrible post.
And arse over tit.

Your "luck" evens out with you winning what you should win, and losing what you should lose.
If your luck evens out at 80 quid for ever hundred bet. (Bookies being a business)
And you accept 70% of that as a a cash out your effectively giving the bookie 44% when the norm is under 20%.

I don't want to be a cock about things as there can always be merit to cashing out any individual bet looking at it objectively. But to be on here telling folk a cash out is a viable and profitable option is crazy.
 

Wazza

Well-Known Member
#81
Absolutely terrible post.
And arse over tit.

Your "luck" evens out with you winning what you should win, and losing what you should lose.
If your luck evens out at 80 quid for ever hundred bet. (Bookies being a business)
And you accept 70% of that as a a cash out your effectively giving the bookie 44% when the norm is under 20%.

I don't want to be a cock about things as there can always be merit to cashing out any individual bet looking at it objectively. But to be on here telling folk a cash out is a viable and profitable option is crazy.
Where I have said in that post it's a profitable option? The bloke clearly ain't betting professionally if he got 50/1 on that - should have been more like 80/1.

https://www.oddsportal.com/soccer/s...015-2016/ross-county-celtic-483r4SAo/#cs;2;11

After looking should have been maybe 200/1!
 
Last edited:

Raj Kebab

Active Member
#82
Where I have said in that post it's a profitable option? The bloke clearly ain't betting professionally if he got 50/1 on that - should have been more like 80/1.

https://www.oddsportal.com/soccer/s...015-2016/ross-county-celtic-483r4SAo/#cs;2;11

After looking should have been maybe 200/1!
Your telling folk they got lucky not cashing out.
Cashing out is a joke, and the exact opposite of riding your luck.
There are individual exceptions.
I personally don't think taking 35% of your winnings on a correct score; into the second half of a game, with the score exactly as predicted; as being either lucky or one of the rare occasions that merit a cash out.

People who don't understand gambling.
Bookmakers.

The only 2 groups who will actively push cash-out as a good option.

And you've confirmed my point.
You'd have people take 18-1 on a 200-1 shot and have them think they've made a good decision?
 

Wazza

Well-Known Member
#83
Your telling folk they got lucky not cashing out.
Cashing out is a joke, and the exact opposite of riding your luck.
There are individual exceptions.
I personally don't think taking 35% of your winnings on a correct score; into the second half of a game, with the score exactly as predicted; as being either lucky or one of the rare occasions that merit a cash out.

People who don't understand gambling.
Bookmakers.

The only 2 groups who will actively push cash-out as a good option.
lol, I am saying he got lucky with the penalty miss. It's all subjective.

Sat here now all green on the Badosa/Riske 1st set winner, doesn't matter who wins it bar £8 extra profit on £105 if Badosa wins it.

Read up and you'll see my views on cash out!
 

Raj Kebab

Active Member
#84
lol, I am saying he got lucky with the penalty miss. It's all subjective.

Sat here now all green on the Badosa/Riske 1st set winner, doesn't matter who wins it bar £8 extra profit on £105 if Badosa wins it.

Read up and you'll see my views on cash out!
I'd read up on it, sure. lol.
But I'd only be reading the opinion of clowns, opinions that defy mathematics.
So on second thoughts I'll pass. lol.
Not sure what the lodge has to do with it? lol.
Unless it's a bookmaker lodge full of affiliate marketers trying to cream off your cash, lol.
Read up on affiliate marketing bets, tops, and blogs. lol.

He didn't get "lucky" by the way, he got as close as you can ever get on expected +EV from a bookmaker, until he shat it and gave away said EV. lol. Read up on EV, lol.
 

Wazza

Well-Known Member
#85
Your telling folk they got lucky not cashing out.
Cashing out is a joke, and the exact opposite of riding your luck.
There are individual exceptions.
I personally don't think taking 35% of your winnings on a correct score; into the second half of a game, with the score exactly as predicted; as being either lucky or one of the rare occasions that merit a cash out.

People who don't understand gambling.
Bookmakers.

The only 2 groups who will actively push cash-out as a good option.

And you've confirmed my point.
You'd have people take 18-1 on a 200-1 shot and have them think they've made a good decision?
He took £1600 after the penalty, what was it worth when the penalty was given? 1/4 to score? So around £300, misses and £1600 is there - sure plenty of people would take that and be happy with it, more to be made by laying the bet off themselves but as I have previously said not everyone would have the cash sat there to do so.
 
Last edited:

Wazza

Well-Known Member
#86
I'd read up on it, sure. lol.
But I'd only be reading the opinion of clowns, opinions that defy mathematics.
So on second thoughts I'll pass. lol.
Not sure what the lodge has to do with it? lol.
Unless it's a bookmaker lodge full of affiliate marketers trying to cream off your cash, lol.
Read up on affiliate marketing bets, tops, and blogs. lol.

He didn't get "lucky" by the way, he got as close as you can ever get on expected +EV from a bookmaker, until he shat it and gave away said EV. lol. Read up on EV, lol.
By read up I mean read up through the thread about what I have said about cash out.
 

The_Degan

Well-Known Member
#88
For the first time dealing with Dirt Track Form, it was OK to book a profit if you're not sure about the bet.

I'm just learning at present and I agree it was a dumb move in terms with f flagging my account.
I’m not saying it was wrong to trade but using their cash out cost you technically £193 as they valued it at £450 at the time . Trading it yourself would have got you at least another £170 .
 

The_Degan

Well-Known Member
#89
My mate had £50 @ 50/1 on Ross County to beat the filth 3-1 in the cup semi a few years ago. If you recall it was indeed that score but most of the 2nd half to go. I admit I was urging him to cash out for about £900, he showed he had balls by letting it run. Cue the traditional Sellik penalty and I was giving him pelters only for Thumb Heid to miss it. He duly cashed out for about £1600 and the game finished 3-1. a real roller coaster and who's to say what anyone should do in that position?
The only point that should be made is it’s not wrong to trade out but using a bookies cash out is always wrong .

In saying that it would have taken four digits to lay that off technically you should have that in your betting bank if your doing £50 correct score singles at 50/1 . Most wont though but the point stands using a bookies cash out is throwing money down the drain regardless of the result .
 

Suttonger

Well-Known Member
#90
A guy in work was watching the man city v palace game last season with his palace supporting mate and he put on 3-1 to palace as his mate was a palace fan and told him about the decent odds some online bookie was offering(the mate put on £20)
He had the chance to cash out something like £600 with 10 minutes left and let it ride as he could have won a grand,man city scored towards the end and fecked him.

His palace supporting mate cashed out £1100 for his bet as well :)
 

Dogbert

Well-Known Member
#91
I’m not saying it was wrong to trade but using their cash out cost you technically £193 as they valued it at £450 at the time . Trading it yourself would have got you at least another £170 .
I made the decision whilst my 4yr old was waiting for a bedtime story and the 6yr old wanted her hair dried.

I'd love to get into trading, but this is a hobby that nets me usually a couple of hundred quid a month on average and I'm only now getting into better analysis.

Appreciate the insight and the maths, it's definitely been a learning curve for me.
 

randomhero

Well-Known Member
#92
I cashed out for 20 quid when i would have won 600. To be fair 3 of my bets were down with less than 10 mins to go so thought i might as well get something back while i can, i've never cashed out since.
 

gerrard32

Well-Known Member
#94
Cash out is a rip off. If you consider the odds of your bet winning and the bookies odds at the time you are being ripped off. Just make a habit of letting it run and you will be better off.
Example
You bet 100 on a team at 4/1, possible winnings of 500, they score in the second half to make it 1-0
Cash out is then around 250 and the teams odds drop to 1/2
If you were to put the 250 you cashed out you would only get 375
The cash out should have been closer to 365, so you are being ripped off taking 250 even though you have won 150 without the team even winning
 

Raj Kebab

Active Member
#95
A guy in work was watching the man city v palace game last season with his palace supporting mate and he put on 3-1 to palace as his mate was a palace fan and told him about the decent odds some online bookie was offering(the mate put on £20)
He had the chance to cash out something like £600 with 10 minutes left and let it ride as he could have won a grand,man city scored towards the end and fecked him.

His palace supporting mate cashed out £1100 for his bet as well :)
That doesn't make a difference.
The bookies made around 115 percent on your mates losing bet.
The bookies made around 140 percent on the other guys winning cash out bet.
When people cash out, the bookies are doubling their profits, so punters are doubling their loses.

Your story is like Rangers sticking Stuart Munro on for McCoist as a target man with 10 minutes to go while losing; 100 times, and you telling us about the 1 game a big hoof by Woods hit him on the arse on the 18 yard line and flew into the top corner. and justifying it as a tactical master class by Souness. Even though we lost 87 of the other matches. ( Disclaimer: This may or most definitely never happened)
 

Suttonger

Well-Known Member
#96
That doesn't make a difference.
The bookies made around 115 percent on your mates losing bet.
The bookies made around 140 percent on the other guys winning cash out bet.
When people cash out, the bookies are doubling their profits, so punters are doubling their loses.

Your story is like Rangers sticking Stuart Munro on for McCoist as a target man with 10 minutes to go while losing; 100 times, and you telling us about the 1 game a big hoof by Woods hit him on the arse on the 18 yard line and flew into the top corner. and justifying it as a tactical master class by Souness. Even though we lost 87 of the other matches. ( Disclaimer: This may or most definitely never happened)
%^*& me what a boring arse post, I am not justifying cashing in or out as I don't do online betting just saying what happened to mate last season in reply to the OP
 

Wazza

Well-Known Member
#97
%^*& me what a boring arse post, I am not justifying cashing in or out as I don't do online betting just saying what happened to mate last season in reply to the OP
Haha, just a bit of chat about what happened with some pals one day wasn't it! Possible everyone involved was half cut by the time the last 10 minutes came!
 

sonowilliam

Well-Known Member
#98
What I don't get is the people that are cashing out for £2/£5/£10, a small multiplier on their stake essentially. Worth letting it run on the off-chance you get lucky. Make's no sense to cash out for your stake in any bet (for me anyway).

I get it for people with a £10 accumulator on, sitting on about £300odds and get that feeling that it's worth having the guaranteed money sitting in the account rather than waiting until the 89th minute for that goal that bins the entire coupon & the 500/600 returns.

Bookies most definitely win in the end, but Joe Bloggs can have a good weekend with his £300, rather than sitting in fizzing that Rotherham have conceded another late goal to be added to the black list, again.
This exactly Scott,gambling is a fun game only.

Always bet within your means,you're never going to win a million unless you're extremely lucky however a great night can be had and you'll be satisfied ( short term ) with a wee bit extra income that particular day - And who knows ? Just maybe....:))

At the end of the day it's luxurious entertainment,as long as you maintain in control of your financial expenditure.

Cash outs - Only twenty minutes from time will i possibly take a cash out,nothing worse than a late goal destroying your bet :))
 

Maweepaljoe

Well-Known Member
#99
That doesn't make a difference.
The bookies made around 115 percent on your mates losing bet.
The bookies made around 140 percent on the other guys winning cash out bet.
When people cash out, the bookies are doubling their profits, so punters are doubling their loses.

Your story is like Rangers sticking Stuart Munro on for McCoist as a target man with 10 minutes to go while losing; 100 times, and you telling us about the 1 game a big hoof by Woods hit him on the arse on the 18 yard line and flew into the top corner. and justifying it as a tactical master class by Souness. Even though we lost 87 of the other matches. ( Disclaimer: This may or most definitely never happened)
I understand odds. Believe it or not I actually make my living in the gambling industry. I take your points 100%....BUT.....The guy I'm talking about has no conception of betting banks, staking plans or long term strategies. He bets according to how flush he is and a £50 correct score is highly unusual. His normal stakes are much smaller. In those circumstances my advice would still be to cash out. The chances are he will never be in that position again.
 
Top