Sports betting and cashing out early..discussion on house rules

leonair

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Quote from: passwordnow on October 18, 2024, 12:56:09 PM

Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

I'm not writing this to ask the opinion really of whether you gamblers think it's something you should do or not necessarily, but more so the rules and the effects of it.

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone? I'm assuming they would adjust mid game, but I simply don't know and I'm curious if it varies from casino to casino.

Obviously in a scenario like this cashing out can make sense then since you don't feel as confident, nor would anyone, if you lose your best player.

It varies, I bet mostly before the game starts and the odds mostly are locked on how much they are. But when the game is live, the odds really changes as per my experience so it differs sometimes and it depends to the bookmakers. So I think when you lock on a bet before the game starts, the odd sticks the same but if they open the betting during the live game, they're also adjusting the odds depending on the situation of the game.

Yes in case of sports betting for a match Odd does not change for any team till the start of the match but when the match starts the odds go up and down according to the performance of the two teams. In this case, if a team can score more goals, their odds are greatly reduced. And the Odd of the team that lags behind increases a lot. In this case if you bet for the team which is ahead then you can cash out the bet with a good profit before the end of the match.

Charles-Tim

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Quote from: Fivestar4everMVP on October 21, 2024, 09:59:43 AM

So, in cases where the casino gave you a cash out option before a major incident occurred in the middle of the match, if you do not hurry to accept the cash out offer immediately, you might return the next minutes and discover that the option has been taken back by the casino, I don't think they can reduce the cash out amount, but they usually will simply withdraw it.

Gambling sites that has cash out do reduce the amount at times. I have gambled on many gambling sites but I have stopped using cash out since many years ago when I know it is not necessary using it. I mean for me. But when I was still using it, if the match is no more favoring you, the gambling site will remove it. If the match is neither yet favoring you and the gambling site, you will see an amount to cash out but lower than the amount you use to bet. If anything happen that the other team is leading, either the cash out amount is significantly reduced like you bet with $50 but able to cash out $3 to $7. Later the cash out will be disable. There are times that it will be disabled for reasons that I am not sure of.

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Quote from: Oshosondy on October 18, 2024, 01:36:07 PM

I do not believe in cash out because I have used it before several times and I noticed that why using it if all are bet of chances and I saw many of its disadvantages at the time while betting. But I am using small amount of money to bet on small odds like using $10 to bet on 1.5 odd. But when a user posted on this forum how he supposed to win huge amount of money but he did not cash out and lost the money made me know that situations are different. Example is if I using $10 to bet on bet with winning of $1000 but I won $300 already and I can cash out and avoid the remaining 1 match, I may think otherwise and cash out instead. But the way I am betting, I can not cash out.

Just like in your case, there are times when your stake could be a reason you wouldn't want to cash out and I see that to be a very valid reason as it's only when you are seeing that you are in profit and you see that you aren't sure of the remaining games, the. Crashing out becomes a good option to explore. Especially when it has to do with you winning huge already on a very small stake such that it can be considered over 10x already which is a good and fair, id in trh match reaming you begin to see some from of uncertainties then it's ideal to cash out.

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Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

I'm not writing this to ask the opinion really of whether you gamblers think it's something you should do or not necessarily, but more so the rules and the effects of it.

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone? I'm assuming they would adjust mid game, but I simply don't know and I'm curious if it varies from casino to casino.

Obviously in a scenario like this cashing out can make sense then since you don't feel as confident, nor would anyone, if you lose your best player.

Cash out amount is an amount of money that can be calculated directly with a math formula.
This formula is directly linked to the amount of your bet, initial odd of your selection and/or currenct odd of the other option (or options!) you are betting against.
In some cases, casino can just offer 0. Likewise there are no counter bet. In some cases they can just try to "push" for your cashout (providing a nice cash out).
Of course each bookmaker has their rules (that have slight differences)

https://www.oddsmonkey.com/matched-betting/calculator/ here you find an example with some explanations.
But I suggest to have a look on betfair exchange (even just on youtube) since this is the best place for understand cashout. There you can find the state of the art for these kind of gamblings. Beeing able to read ladders and their markets is a great add on for your gamblings...

Fivestar4everMVP

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Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

I'm not writing this to ask the opinion really of whether you gamblers think it's something you should do or not necessarily, but more so the rules and the effects of it.

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone? I'm assuming they would adjust mid game, but I simply don't know and I'm curious if it varies from casino to casino.

Obviously in a scenario like this cashing out can make sense then since you don't feel as confident, nor would anyone, if you lose your best player.

First of all, you should understand that cashing out your betting on sports is not something or an option that is always available to gamblers, the casinos (respectively speaking) are at liberty of making this option appear and disappear for the gambler at any time they sole please, this i am saying is from my own pure experiences.

Many a time, I've checked my betting tickets and saw the option to cash out, i ignored it and closed the site, when I returned to check the ticket again maybe a few minutes later, I discover that the cash out option is no longer available.

So, in cases where the casino gave you a cash out option before a major incident occurred in the middle of the match, if you do not hurry to accept the cash out offer immediately, you might return the next minutes and discover that the option has been taken back by the casino, I don't think they can reduce the cash out amount, but they usually will simply withdraw it.

YOSHIE

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Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

Sports betting and cashing out early..discussion on house rules

In most casinos the payout is changed at the end of the game, for example in the final 70'-90' or extra minutes, this happens if the team we are betting on wins with a score of 1-0 or higher points, this often happens, bets for high points will be lower and bets on points that don't have a chance of scoring will be higher, this can happen for various reasons, one of which, as you said, is injury.

However, some cases that occurred were also unexpected, for example team A scored 1-0 to B without a goal, but in the 70' minute until the end of the bet (Draw) and team B could go higher, but what happened was unexpected in the second minute. additional team B scored a goal and the match ended in a draw, If we change the bet for a clear series of big wins for us, this often happens, which means the change in bet is made by the casino and it is paid.

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Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone? I'm assuming they would adjust mid game, but I simply don't know and I'm curious if it varies from casino to casino.

Obviously in a scenario like this cashing out can make sense then since you don't feel as confident, nor would anyone, if you lose your best player.

They’ve got real-time data feeds, so if an injury happens, the odds adjust instantly, just like the cash-out amount. It’s tough to outsmart them since they’re always ahead of us, even during live games. They use advanced technology, including AI, to make sure they get the latest information and quickly reflect it in the betting odds.

stompix

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Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone?

Cash-outs are always influenced by the live in-betting odds.
Let's assume you bet on your team at 2.0, the live betting would be 1.5 your cash-out would be slightly half of the possible winning if they lose a player and the in-play odds change so will your cash-out option, making the sum you can take out before the end of the game way lower. Cashing out is just a math thing, it has two variables, the bet you put at the start and the current live bet, the closer the live bet is to 1.001 (so statistically a sure win) the closer your cash-out sum is to the initial bet.

Also, there will slight delay for every action on live betting, you'll not be able to bet exactly the moment you see a goal being scored on live tv.

KiaKia

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Just like trading, while the motion is going on and some chart changes because of some news that could impact the whole market in the short time you are to secure some profits as fast as possible, that's why trading alerts is good and also stop losses, as for gambling while watching the game you are at an advantage of securing your gains if you are getting the bad feeling that this isn't going your way.

I will only let my money ride if I am not watching the match because I am busy or for other reasons, this is a plus advantage when gambling on sports matches, you can get your answer before the match ends, I know someone who could have won a lot today if he likes taking profit before football matches ends, it is really bad to place bet on sports and not watching the game, because there is a chance that you will can make another decision fast before it is too late.

One the thing I've learned in sports bet is things can change really fast, before you know what's happening you are down massively. As for me I got nothing to worry about, because I risk so little on gambling overall, whatever happens is what I can handle.

danherbias07

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If it's a near-end game then I doubt they will adjust the odds. But it's midway through the game and let's say halftime in basketball the odds could definitely change in either favor of the opponent or the plus-minus changing that will also change the handicap.
I think I have been in this situation but I forgot how much difference will change whenever a star player is hurt but yes, you will see the handicap could go way below your expected amount. Now, if they are on the big lead, it's possible that you might not feel the changes but if it's a close game and every offense is relied on the injured player, it will definitely be a different story.
The thing about sports bookies are, they are way updated than us, they know what is happening inside either the star will return or not and that means they can change the odds quickly to their advantage.

passwordnow

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Quote from: EarnOnVictor on October 21, 2024, 01:05:19 AM

Quote from: passwordnow on October 18, 2024, 12:56:09 PM

It varies, I bet mostly before the game starts and the odds mostly are locked on how much they are. But when the game is live, the odds really changes as per my experience so it differs sometimes and it depends to the bookmakers. So I think when you lock on a bet before the game starts, the odd sticks the same but if they open the betting during the live game, they're also adjusting the odds depending on the situation of the game.

I also bet before the game starts, it's the best style I know for me not to bet with impulse attached to live betting. But note, betting odds may not always change before the match starts, still, it changes depending on the bookie and their recently realised factors, like a certain player suddenly comes out of the injury and will be among the line-up to the match.

What will not change is the bet you've already placed, the odd's term is binding and it's the subsequent bettors the updated changes will affect. But for the live matches, of course, the condition changes live, and so will the odds change.

As long as there's money to bet on whether before the game starts or during live games, it won't matter to me. But I just really prefer to get along with those bets before it happens. With that, I can prepare with my own analysis on how it's going to be and I don't have to be pressured at all. There's a different feeling when we do that especially if you're the type of guy that mostly bet during the live games and there are already some happenings within the game.

Quote from: EarnOnVictor on October 21, 2024, 01:05:19 AM

The one you saw in the last 1 minute may not be the same again and this is also why the cashing out offer given to bettors varies rampantly that time.

That is true, that's why I get along with whatever bet that I've already placed and deal with it afterwards if I lose, I'll just accept it as a normal thing. But I'd be happy if the twist like this in the very last minute happens favoring my bet.

EarnOnVictor

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Quote from: passwordnow on October 18, 2024, 12:56:09 PM

Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

I'm not writing this to ask the opinion really of whether you gamblers think it's something you should do or not necessarily, but more so the rules and the effects of it.

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone? I'm assuming they would adjust mid game, but I simply don't know and I'm curious if it varies from casino to casino.

Obviously in a scenario like this cashing out can make sense then since you don't feel as confident, nor would anyone, if you lose your best player.

It varies, I bet mostly before the game starts and the odds mostly are locked on how much they are. But when the game is live, the odds really changes as per my experience so it differs sometimes and it depends to the bookmakers. So I think when you lock on a bet before the game starts, the odd sticks the same but if they open the betting during the live game, they're also adjusting the odds depending on the situation of the game.

I also bet before the game starts, it's the best style I know for me not to bet with impulse attached to live betting. But note, betting odds may not always change before the match starts, still, it changes depending on the bookie and their recently realised factors, like a certain player suddenly comes out of the injury and will be among the line-up to the match.

What will not change is the bet you've already placed, the odd's term is binding and it's the subsequent bettors the updated changes will affect. But for the live matches, of course, the condition changes live, and so will the odds change. The one you saw in the last 1 minute may not be the same again and this is also why the cashing out offer given to bettors varies rampantly that time.

Su-asa

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Cashout offers are strictly based on odds arrangements, if the game is playing out well according to the prediction of the gambler the cashout is going to be of high value depending on the odds factor. So many things can affect the odds value, the players, the formation of the team and how the game is being played. The bookmakers use these factors I made mention of to reduce or increase the odds in their favour, it's left for you as the gambler to make your final decision either to cashout or take the risk of waiting for the games to play out.

Obim34

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Quote from: ChiBitCTy on October 19, 2024, 04:05:39 PM

Quote from: Doan9269 on October 18, 2024, 12:59:38 PM

Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone? I'm assuming they would adjust mid game, but I simply don't know and I'm curious if it varies from casino to casino.

Obviously in a scenario like this cashing out can make sense then since you don't feel as confident, nor would anyone, if you lose your best player.

If the bet have been played before the match started and the slip had been printed as well, there is no need to worry over the changes that may occur over the game before the end of the match, because there is nothing going to alter on the amount we are eligible to win, but for those that didn't started from the begging and the match odd was for instance 2.1 and later turned 1.4 after which the key player was injured and was replaced or could no longer perform well, this will only affect those booking their bet after that and not those who already have placed their bet, this is my own opinion.

I think you're missing the point here. So if I place a bet for a team I believe is going to win, and things look like they are going well in my favor, but the game is close-ish, and then lets say the best player gets badly hurt and has to be removed from the game and then I feel that the other team just might be able to make a comeback now, or perhaps I believe that they certainly will, well then it could make a heck of a lot of sense to cash out while your bet is "in the black", otherwise you risk losing everything.

Appreciate all the replies everyone.

You make the decision, if you prefer to stick with the risk then you can allow the game to end on its's own without interrupting the cash out. It also depends on the club aswell, if the club is made up of multiple stars in it and the replacement for the injured played is definitely good but may not be quality enough as my favorite player whom i deemed fit to keep the game running, despite the odds reducing i will not take the option of cashing out but whereas the team are poor in substitutes i will quickly take out the profits before it is too late to do so. Not just about injured players but also in regards to card offesnses (Red card) if i am given the optioni to pull out i will definitely without compromising.

Sandra_hakeem

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Quote from: Saint-loup on October 19, 2024, 03:55:39 PM

it works exactly like live odds, usually you only have cash out option for matches offering live odds anyway

exactly!! When the odds are off, the cash out gets deactivated and you have no other choice than to wait till the game is over... I'd say, the casinos will always run on a huge loss if that process wasn't regulated IMO.

Quote from: Orpichukwu on October 19, 2024, 04:55:13 PM

It's true that anyone who is an active gambler will know that odds do change, but it's also possible that some can still be gamblers who place bets on sports and still don't notice those common odd changes because they just place their bet with the available odds, which display at the time of the booking, and don't have time to be checking on the live odd display again or if there has been any change made to it.

Every casino has an announcement/warning stickout/banner by the side that tells you whatever happens in there. Unless the user wagers on a single game all the time, without even wasting atleast 5 minutes on prediction, then the fact that some gamblers don't have an idea about changes in the odds is a fallacy.

Quote from: ChiBitCTy on October 19, 2024, 04:05:39 PM

well then it could make a heck of a lot of sense to cash out while your bet is "in the black", otherwise you risk losing everything.

Certainly it will. There are a lot of things involved in cases like this. If It doesn't suit your description, cashing out would still be a better option regardless.

Orpichukwu

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Quote from: Z390 on October 19, 2024, 03:38:11 AM

Not up for this debate, because only those who don't know gambling won't know that odds changes over time, even before a match ends or before starting the match, odds are constantly changing, online betting have make things more easier for gamblers now, when you are in a good position you need to avoid greed, most times my favourite picks would have turned bloody but I secure the profit before the match ends, fee times it went well but I don't care, gambling is too risky to have some crazy confidence on.

It's true that anyone who is an active gambler will know that odds do change, but it's also possible that some can still be gamblers who place bets on sports and still don't notice those common odd changes because they just place their bet with the available odds, which display at the time of the booking, and don't have time to be checking on the live odd display again or if there has been any change made to it.

ChiBitCTy

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Quote from: Doan9269 on October 18, 2024, 12:59:38 PM

Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone? I'm assuming they would adjust mid game, but I simply don't know and I'm curious if it varies from casino to casino.

Obviously in a scenario like this cashing out can make sense then since you don't feel as confident, nor would anyone, if you lose your best player.

If the bet have been played before the match started and the slip had been printed as well, there is no need to worry over the changes that may occur over the game before the end of the match, because there is nothing going to alter on the amount we are eligible to win, but for those that didn't started from the begging and the match odd was for instance 2.1 and later turned 1.4 after which the key player was injured and was replaced or could no longer perform well, this will only affect those booking their bet after that and not those who already have placed their bet, this is my own opinion.

I think you're missing the point here. So if I place a bet for a team I believe is going to win, and things look like they are going well in my favor, but the game is close-ish, and then lets say the best player gets badly hurt and has to be removed from the game and then I feel that the other team just might be able to make a comeback now, or perhaps I believe that they certainly will, well then it could make a heck of a lot of sense to cash out while your bet is "in the black", otherwise you risk losing everything.

Appreciate all the replies everyone.

Saint-loup

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It works exactly like live odds as far as I know, usually you only have cash out option for matches offering live odds by the way, so as live odds usually take into account this kind of event, I think cash out options also take that into account for offering an amount to cash out. Amounts offered are usually not very interesting nonetheless, it's usually better to keep his bet until the end, because some upsets can always happen fortunately.

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Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone? I'm assuming they would adjust mid game, but I simply don't know and I'm curious if it varies from casino to casino.

Obviously in a scenario like this cashing out can make sense then since you don't feel as confident, nor would anyone, if you lose your best player.

Cashout amout is based on the current live odds for your pick. The change on the cashout amount is updated real time since it corresponds to the live odds set based on the actual condition of the match.

What I’m not sure is whether the casino adjust the odds if a significant player injured on the live match or they will just use the same stats for prematch to determine odds based on the current score.

AFAIK bookmaker use system to determine odds which means there’s a possibility that an in-game injury might not be reflected immediately. CMIIW

Oluwa-btc

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Quote from: ChiBitCTy on October 18, 2024, 12:26:28 PM

Let's say your team is up a point or two with plenty of time left and the odds heavily or just mostly favor that team winning. Now let's say their best player gets hurt, which greatly changes the odds of the outcome. Do casinos adjust the cash out amount for events like this right away, or is it something set in stone?

What I think is let's say you betted on behalf of your favourite teams and then having the best player injured while the match is on its not an obstacle to the odd but it will when the player is changed for another and he isn't playing with that same energy so in that note there would be alterations in catching out and the bookies don't have any right to do otherwise via any adjustments and all that but if your game was just as predicted for the match then you can catch out but the betting sites or Casinos don't have a say in adjustment of the game to fit anyone's demands.

Topic: Sports betting and cashing out early..discussion on house rules (Read 422 times)