Bookmaker cash outs

[TightEnd]

Do you use them?

Do you use them in certain circumstances (to protect part of a potential win? to minimise an almost certain loss?) (on accumulators or not on singles?)

If so, why?

If not, why?

ty

[arbboy]

Do you use them?  No

Do you use them in certain circumstances (to protect part of a potential win? to minimise an almost certain loss?) (on accumulators or not on singles?) - No

If so, why? - n/a

If not, why? - Just bet a smaller amount in the first place so you don't feel the need to throw away ev in your original investment and/or leave the last leg of your acca out if you are just going to give it away by locking in.  Otherwise just lay the outcome yourself on bf which will be a smaller loss of ev than using the cash out button.  I have no idea what the margins are for the firms on cash outs but i can't imagine them being small as they are designed for lazy/rec punters.

ty

[Tonibell]

No.

Because they're terrible value. If I got windy - on a golfer, say, who I'd bet at long odds and was now much shorter going into the final round - I'd lay him back on the machine. (I've managed to resist doing this up to now but it would be the lesser evil).

[swinebag22]

"But sometimes, you just have to take the money and run, Ray"

[jakally]

Don't do it Tighty - just giving money away.
Also don't lay potential winning bets off, unless you are sure the odds are wrong the other way. Very tempting to lock up a profit, but the reality is it is lining the bookies pockets, most of the time.

[MahoganyVic]

Greatest con in the history of bookmaking. Amazing how many people use it.  As mentioned above, I have no idea why people add an extra leg to an acca if they plan on cashing out, all they are doing is giving a huge % back to the bookie. Heard so many times down the pub how people add either the sunday afternoon game or the monday night one, with the explanation being that if they get that far they will be able to cashout.

[Doobs]

As others have said it is just a big con, often with little relationship with the underlying odds.

I have placed bets on, watched the price halve and still been offered a cash out that is less than my original stake. 

People in the middle of accas simply have no idea of the value they are giving away, so bookies take advantage.

I remember when Betfair started this and thinking the value wasnt that great, but others have taken it to a whole new level.

[Omm]

I had a bet £10ew at 20/1, it was now a 2 (horse race) prices on bf were roughly 1.83 vs 2.10( mine was 2.10 give or take a couple of digits) the cash out option was £81.

Based on what I see on Twitter everyday people love the cash out button, if only they knew.

[TightEnd]

is there any evidence, or possibility, that use of the cash out button can help the maintenance of an account?

(ie you use it, you are recreational, not value conscious etc etc)

[arbboy]

I had a bet £10ew at 20/1, it was now a 2 (horse race) prices on bf were roughly 1.83 vs 2.10( mine was 2.10 give or take a couple of digits) the cash out option was £81.

Based on what I see on Twitter everyday people love the cash out button, if only they knew.

How does that work with the place part of the bet which has already won?  Assume you are only cashing out the win part of the bet there for £81?

[arbboy]

is there any evidence, or possibility, that use of the cash out button can help the maintenance of an account?

(ie you use it, you are recreational, not value conscious etc etc)

I would imagine it would help.  Setting fire to money on bookmaking accounts usually helps to keep them open longer term.

[The Camel]

I saw a bloke on Facebook who had a 17p !!! correct score 5 fold.

He cashed out for £9 after three won.

The other 2 obviously copped.

Would have won £8000.

[arbboy]

extrabet (anyone remember them? - fixed odds firm with ig index) started the whole cash out thing 10 years ago but it never seemed to take off at all.  No idea why it took 10 years for all the major fixed odds boys to get involved with it as it isn't a new concept.  Only fixed odds firm who i never had an account closed with and beat during my arbing days and they were always willing to lay huge bets even on prices which were decent commission free arbs.

http://www.betting-directory.com/bookmaker-extrabet.php

[The Camel]

extrabet (anyone remember them? - fixed odds firm with ig index) started the whole cash out thing 10 years ago but it never seemed to take off at all.  No idea why it took 10 years for all the major fixed odds boys to get involved with it as it isn't a new concept.  Only fixed odds firm who i never had an account closed with and beat during my arbing days and they were always willing to lay huge bets even on prices which were decent commission free arbs.

http://www.betting-directory.com/bookmaker-extrabet.php

Bit of after timing, but I suggested it when I worked at Blue Squirrel.

The tech dept said it was "far too complicated to implement".

I should have put a patent on the idea.

[nuros]

Have cashed out once, misclick cashed out the Fulham top six bet a couple weeks ago, seems to have saved me some money heh, def wouldn't do it deliberately, obv still made a loss on the bet:p