Pretty much the same as the dilemma of whether or not you should hedge your bets when things are going your way.
Usually, using the cashout feature will yield you less Expected Value compared to just riding it out. There is a reason why sportsbooks would even offer you this liquidity in the first place.
This is why I always stick to my initial bet even if this was to be offered as an option. Even though cashing out early may work once or twice in the short term and you avoid some losses, in the long run you are going to get killed by the negative EV you incur.
Topic: Have you ever lost a bet in this way? - page 3. (Read 526 times)
This is not a very recent feature, it exists on gambling sites since very long time AFAIK. You have to manage that like a crash game or a trade : you must choose a target price/odds before playing and only changing it if you think parameters are really not the same anymore.
Crash or trade needs fast reaction on what is happening, in sports betting, you can still have more time to think .
This is mostly applicable for huge betting odds due to parlay bets, if you have 10 legged parlay and you hit the 9 already and the last game has not started yet, you can still think whether you'll cash it out already or wait until the game is completed to see if you win.
For example of this 10 legged parlay you hit 9 and you can cashout $1,000 while if you win you will get $3000.
What would you choose, the decision making will then come and it's a hard decision for sure as if you cash out, you'll be happy if your parlay end up a losing bet but if you won, you might regret.
--snip--
Greed really affects it out, unless you are experienced gamblers who knows that when opportunity knocks grabbing it is the first thing to do.
Greed really affects it out, unless you are experienced gamblers who knows that when opportunity knocks grabbing it is the first thing to do.
The problem is, nobody knows what's going to happen the next moment and so, it's almost impossible to predict the outcome of the game in which even the best of the best players lose sometimes.
And like what how you explained from your first statement, cashout feature is not there before, good to see that it was introduced and many disipcline gamblers can do enjoy this function, allowing them to take early earnings and use it again with other avaliable games to extent their chances to have more possible profits.
There's one thing I didn't describe here that in some games, even if your bet still has some odds available (like if you are winning your bet and it still has 1.1x or even 1.01x available), the site removes the cashout option which is tricky sometimes so I'd say it's on a game-by-game basis.
I used to gamble in a different way till we got introduced with a feature called "Cashout" which wasn't there for few years on crypto gambling sites. Now, whenever you make bets, not some average or tipped ones but high confidence bets, you see that you've already won and the odds that you placed your bet on (which could be higher than, let's say 1.50x) and it has dropped to 1.01x, will you use your "Cashout" feature and leave / lose a few % of profit just because you fear that the game can still change? Or you'll just go with the flow and let the game run, and you'll wait till the end to get complete profit?
Now, my main question,
What if you didn't cashout your potential winnings and then suddenly, the game changes and let's say that you placed a bet on a Soccer match between Team A and B and you believe that Team A will be the winner (based on less odds and past performances), the score is 1-0 and time is 89 minutes. Now, if Team B manages to score one goal at the last minute and set the score to 1-1, won't you regret that you were so close that you must've cashed out your bet, but lost big due to that last minute goal? This happened to me a few times and I bet it may also have happened with many of you. So, have you ever lost a bet in this way?
Now, my main question,
What if you didn't cashout your potential winnings and then suddenly, the game changes and let's say that you placed a bet on a Soccer match between Team A and B and you believe that Team A will be the winner (based on less odds and past performances), the score is 1-0 and time is 89 minutes. Now, if Team B manages to score one goal at the last minute and set the score to 1-1, won't you regret that you were so close that you must've cashed out your bet, but lost big due to that last minute goal? This happened to me a few times and I bet it may also have happened with many of you. So, have you ever lost a bet in this way?
I personally experienced this one, regretting since you almost won the match with some decent money but instead of cashing it out you continue and thinks that maximizing your win is far better than the early possible earnings which is much lower than your expected earnings.
Greed really affects it out, unless you are experienced gamblers who knows that when opportunity knocks grabbing it is the first thing to do.
And like what how you explained from your first statement, cashout feature is not there before, good to see that it was introduced and many disipcline gamblers can do enjoy this function, allowing them to take early earnings and use it again with other avaliable games to extent their chances to have more possible profits.
... So, have you ever lost a bet in this way?
Certainly, this happens when you bet for a team with very good odds, kind of thinking of an easy small win and then the underdog scores. The odds shift so dramatically that you do not get a chance to bail-out and there is a too big of a material loss to close the bet.
Exactly, that's how I wanted to elaborate here.
I've made bets in the past on teams which scored around 5 goals while the opponent team just had 2, but after 60 minutes are gone, I don't know what exactly happened but the opponent team scored 3 back to back goals during each 10 minutes session ahead. It was so shocking for me to see myself losing that way.
That feeling of frustration or being shocked can really be felt by most gamblers that do get involved with sports betting since results or outcome cant really be determined ahead.
As long the game is running then all the possibilities could really happen and this is where people do call those "upset" games where heavily favorite did really lost into an underdog unexpectedly.
As a bettor or trying to close that bet out then you wont really have any choice since that would really be having a decrease if you decide to close it up.
It sucks to have that kind of feeling on where you do already expecting for a win or its already within your grasp but in goes opposite in the end.
... So, have you ever lost a bet in this way?
Certainly, this happens when you bet for a team with very good odds, kind of thinking of an easy small win and then the underdog scores. The odds shift so dramatically that you do not get a chance to bail-out and there is a too big of a material loss to close the bet.
Exactly, that's how I wanted to elaborate here.
I've made bets in the past on teams which scored around 5 goals while the opponent team just had 2, but after 60 minutes are gone, I don't know what exactly happened but the opponent team scored 3 back to back goals during each 10 minutes session ahead. It was so shocking for me to see myself losing that way.
This is not a very recent feature, it exists on gambling sites since very long time AFAIK. You have to manage that like a crash game or a trade : you must choose a target price/odds before playing and only changing it if you think parameters are really not the same anymore.
When gambling is compared with trading, I guess this "cashout" feature can serve as a relative point between both of them because it allows us to move our money out of the markets just like we do in crash games as you said.
This is not a very recent feature, it exists on gambling sites since very long time AFAIK. You have to manage that like a crash game or a trade : you must choose a target price/odds before playing and only changing it if you think parameters are really not the same anymore.
... So, have you ever lost a bet in this way?
Certainly, this happens when you bet for a team with very good odds, kind of thinking of an easy small win and then the underdog scores. The odds shift so dramatically that you do not get a chance to bail-out and there is a too big of a material loss to close the bet.
For me, cashing out when given an opportunity is like chasing your bet when you are losing. .
Why is it that it's like chasing your bets when you're cashing out your money? isn't it good that you're getting your money back before you lose?This is not good and I don't have good experience when situation comes that my emotion will play against me.
Since you said that you have no good experience, you probably aren't taking profits when its necessary. 
I used to gamble in a different way till we got introduced with a feature called "Cashout" which wasn't there for few years on crypto gambling sites. Now, whenever you make bets, not some average or tipped ones but high confidence bets, you see that you've already won and the odds that you placed your bet on (which could be higher than, let's say 1.50x) and it has dropped to 1.01x, will you use your "Cashout" feature and leave / lose a few % of profit just because you fear that the game can still change? Or you'll just go with the flow and let the game run, and you'll wait till the end to get complete profit?
This feature is similar to the one offered at IQ options sites, so you can *short* a bet to finish it instantly with a lower profit or a lower loss, depending the situation.To know if asking for cashout is a good idea you need to analyze the game and how your team is behaving. If the game is hard for them and the rival is putting a lot of pressure, it may be a good idea to cashout, but if your team is controlling the match I see no reason to do this.
Now, my main question,
What if you didn't cashout your potential winnings and then suddenly, the game changes and let's say that you placed a bet on a Soccer match between Team A and B and you believe that Team A will be the winner (based on less odds and past performances), the score is 1-0 and time is 89 minutes. Now, if Team B manages to score one goal at the last minute and set the score to 1-1, won't you regret that you were so close that you must've cashed out your bet, but lost big due to that last minute goal? This happened to me a few times and I bet it may also have happened with many of you. So, have you ever lost a bet in this way?
It can always happen in gambling and you must be prepared for it without regrets, after all it's an unpredictable event. Situations like this will happen sooner or later if you are an active gambler, but you can minimize the chances of losing this way if you do what I said above. Sometimes I can see the team is very anxious and nervous, commiting obvious mistakes. When this happens there is a high chance the another team will goal them by the end of the match.What if you didn't cashout your potential winnings and then suddenly, the game changes and let's say that you placed a bet on a Soccer match between Team A and B and you believe that Team A will be the winner (based on less odds and past performances), the score is 1-0 and time is 89 minutes. Now, if Team B manages to score one goal at the last minute and set the score to 1-1, won't you regret that you were so close that you must've cashed out your bet, but lost big due to that last minute goal? This happened to me a few times and I bet it may also have happened with many of you. So, have you ever lost a bet in this way?
I don't quite understand the point you're trying to make here, if the odds of the game changes during the match and you placed your bets before those changes happen, then you will get the return based on the odds when you placed the bet, and basically your bet would not be affected by that, so why would you be bothered by the change of the odds?, odds just change based on how the teams play or when/if a team scored a goal and game results were changed, unless there are some sportbooks that I don't know about that use a different approach to calculate the wins and odds.
Ok, let me make it a bit easier for you to understand.
We are emphasizing specifically on "Cashout" feature of any gambling website here (and I hope that you're familiar with what it is).
Let's say we have a match today between Real Madrid and Sociedad today.
Odds are 1.89 on Real Madrid's win and 3.45 on Sociedad
Now, you've placed a BTC0.01 bet on Real Madrid's win, so if you win, you will get BTC0.0189
Now, there's 0-0 goals during first half, so nothing changed.
Let's say Real Madrid scored a goal at around 70-75th minute, which makes the scoreboard to 1-0 and now the odds have decreased to 1.10x-1.15x and you're currently getting ~BTC0.017 through the cashout feature, what will you do? Will you rather wait for the next ~20-25 minutes to get the whole winning or just cash it out and leave the game?
What if Sociedad manages to score a goal during the last few minutes? The scoreboard will then be 1-1 and so, the win of Real Madrid will possibly turn into a draw if they don't manage to score another goal here. So, your win turns into a loss here. And even the odds will rise over 5x-9x immediately once Sociedad scores a goal (the 2nd goal that makes the game draw during the last minute), so your cashout value will come next to nothing.
Now, my main question,
What if you didn't cashout your potential winnings and then suddenly, the game changes and let's say that you placed a bet on a Soccer match between Team A and B and you believe that Team A will be the winner (based on less odds and past performances), the score is 1-0 and time is 89 minutes. Now, if Team B manages to score one goal at the last minute and set the score to 1-1, won't you regret that you were so close that you must've cashed out your bet, but lost big due to that last minute goal? This happened to me a few times and I bet it may also have happened with many of you. So, have you ever lost a bet in this way?
Of course you would regret hat. Just like you would regret when you sell a crypto project to early or buy it at it's ATH and then immediately after you buy it starts dropping.
I personally would only use the cash-out function when my bet is right so far but the team that i betted on is starting to lose control over the game and the equalizing goal becomes more and more likely.
Other than that i would just stick to my bet and enjoy the higher rewards. Goals out of nowhere can spoil the fun though
I know the feature but I'm not using it. Maybe I would be interested if I'm betting a huge amount but no, I'm just betting a small amount and I always want a 90% up win on my bet ( in case it will win) 
Cash out option is new I believe, but it doesn't really attract me, sometimes I have a winning parlay, and I hit already 4 out of 5 and I can cash out but didn't do it because I want more, I lose it but I don't regret.
Cash out option is new I believe, but it doesn't really attract me, sometimes I have a winning parlay, and I hit already 4 out of 5 and I can cash out but didn't do it because I want more, I lose it but I don't regret.
Honestly bro I consider gambling not like trading.
There are only two option I bet, a lose or a win.
For me, cashing out when given an opportunity is like chasing your bet when you are losing. .
This is not good and I don't have good experience when situation comes that my emotion will play against me.
There are only two option I bet, a lose or a win.
For me, cashing out when given an opportunity is like chasing your bet when you are losing. .
This is not good and I don't have good experience when situation comes that my emotion will play against me.
Changing your odds while the match doesn't yet finish? Yeah, that will I guess a term of cash out from most casino but I think there are too many gambling casinos that has that kind of feature but in different use of the term.
I never tried yet this kind of feature because most commonly I let the game finish its match which I feel safe that will I guess possible of having a technical error or something like your bt might be lost. While placing your bet, just to make sure that you are not half-minded in every decision had, this will avoid the regret of you are newer close for the winning result.
I never tried yet this kind of feature because most commonly I let the game finish its match which I feel safe that will I guess possible of having a technical error or something like your bt might be lost. While placing your bet, just to make sure that you are not half-minded in every decision had, this will avoid the regret of you are newer close for the winning result.
This feature is now available with few gambling sites. I've used it with sports betting. The odds we've placed will be calculated against the betting value and the amount will be credited to the Wallet. This is good feature, because we can atleast get a small profit before the game changes against the odds we've selected.
But you will be missing on the big potential profits you might have gotten had you remained constant on your position and prediction if the prediction turns to be accurate. I guess, it's not really very easy to just cash-out manually simply because when we place a bet thinking of the outcome and all the points are meeting in the way to prediction, we always stay greedy and hope that in the end the profit will be in our bag. Once the game changes, so do the odds and we can't cash-out then.
I used to gamble in a different way till we got introduced with a feature called "Cashout" which wasn't there for few years on crypto gambling sites. Now, whenever you make bets, not some average or tipped ones but high confidence bets, you see that you've already won and the odds that you placed your bet on (which could be higher than, let's say 1.50x) and it has dropped to 1.01x, will you use your "Cashout" feature and leave / lose a few % of profit just because you fear that the game can still change? Or you'll just go with the flow and let the game run, and you'll wait till the end to get complete profit?
I don't quite understand the point you're trying to make here, if the odds of the game changes during the match and you placed your bets before those changes happen, then you will get the return based on the odds when you placed the bet, and basically your bet would not be affected by that, so why would you be bothered by the change of the odds?, odds just change based on how the teams play or when/if a team scored a goal and game results were changed, unless there are some sportbooks that I don't know about that use a different approach to calculate the wins and odds.
Now, my main question,
What if you didn't cashout your potential winnings and then suddenly, the game changes and let's say that you placed a bet on a Soccer match between Team A and B and you believe that Team A will be the winner (based on less odds and past performances), the score is 1-0 and time is 89 minutes. Now, if Team B manages to score one goal at the last minute and set the score to 1-1, won't you regret that you were so close that you must've cashed out your bet, but lost big due to that last minute goal? This happened to me a few times and I bet it may also have happened with many of you. So, have you ever lost a bet in this way?
What if you didn't cashout your potential winnings and then suddenly, the game changes and let's say that you placed a bet on a Soccer match between Team A and B and you believe that Team A will be the winner (based on less odds and past performances), the score is 1-0 and time is 89 minutes. Now, if Team B manages to score one goal at the last minute and set the score to 1-1, won't you regret that you were so close that you must've cashed out your bet, but lost big due to that last minute goal? This happened to me a few times and I bet it may also have happened with many of you. So, have you ever lost a bet in this way?
That's the risk you take, unless you somehow know what happens in the future you should not regret what you didn't know in the first place, you should try to minimize your risk as much as you can but no matter what you do, sometimes it won't go exactly as you expected.
Of course man, we have all been there. I use cashout feature very rarely,,, there is usually no game that I bet on that is suddenly different in outcome but the main reason I avoid cashout is huge loss on the winnings already "in the bag".
Pointless to see you have in reality 5x odds but cashout only gives you 2.5x.
Pointless to see you have in reality 5x odds but cashout only gives you 2.5x.
I very rarely use this function because of the low odds offered by the gambling site if you take your winnings before the end of the match. Still, I prefer to wait for the final whistle of the referee and accept victory or defeat, whatever the outcome of the match.
It could also be used to save some money if you feel like the team your betting with is losing. Is that possible?
if this is how it work no one is going to loose but this does not work as you described it but it wont allow you to use the feature when the game is already late that the results are obvious if who is going to win or loose .if you want to use the feature you need to decide and use it early to be fair on both sides .
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Had always let the game finish and let the site automatically put my winnings in my wallet.
im not good at confusing my self and the cashout option wont work best on me but im playing the game like you . Jump to: