Why do bookies allow cashouts? - page 4.

Woodie

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Quote from: Charles-Tim on August 15, 2024, 04:18:09 PM

Cashout or not cashout, the gambling site is still winning while most bettors are losing. I only guess the feature is available on the betting sites just to fool bettors.

This is the reality of gambling, with or without this feature the bookies still win no two ways about it!

But I guess the cashout feature is to allow players to get something out from a bad bet , the cashout feature can also be seen as a way to avoid paying out maximum payouts as gamblers get out what they can especially if cashout is generous..but in any case this should be seen as a feature to invite players to the platform as not every bookie has integrated this feature.

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Quote from: Charles-Tim on August 15, 2024, 04:45:55 PM

I have experience about what cashout is, it is rubbish and commonly used by people that use high amount of money to bet. I do not even check the match I bet on and I use small amount of money to bet it. If it happens that I am watching the match, I do not cashout. With what have seen about it, it is rubbish and only for the betting site to make money like nothing added nothing deducted.

Many times I cashed out and then found if I would not cash out then the slip would be lost and there are other times when I cashed out by panicking but then the slip was still a winner.

Cashout is a good feature that benefits both the sportbook and the better.

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Quote from: Frankolala on August 17, 2024, 08:55:12 AM

Quote from: Peanutswar on August 17, 2024, 08:41:37 AM

Just recently seen this but few casino offering this kind of user friendly feature for those people who knows the possible outcome of the game it's a good thing because they can now make a cutloss to their game insteading lossing all you have an option to partially have at least with your wage amount, other casino just offer once you put already your money it's all about winning or lossing the game. This feature not offering full payment cash out to their players of course so they can still earn with this feature or be like consider as fee.

The cash out option is in favor of both the gambler and the bookie because if the gambler decided to cash out, it shows that he appreciates the little profits that he has already made on the games that came out as predicted and that gives him an option to walk away with his little profit or continue playing. It is just like a gambler gambling in a casino and is on his winning streak and decided to continue playing because he feels his luck will continue shinning instead of walking away.

On the other hand, the casino will also be prevented from paying huge should incase all the game comes out as predicted. But from my own point of view, the cash out feature is more in favor of the casino.

Yes, no question it does favor the casino.

As to this article, these negative factors are being discussed. So the conclusion is that this option would only make us addicted.

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Highlights
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Cashing out is a popular gambling feature that has been linked to problem gambling.
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In our sample, 51.8% of participants reported using the cash out feature.
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Using the cash out feature was associated with motivations to gamble to make money.
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The cash out feature was associated with increased psychological vulnerabilities.
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Motives for cashing out were to cut losses, gain money, and related to risk level.

Those sentences that were bolded are the most alarming because they're associated with how we feel when gambling using the cash-out option. So, I guess it's not really helping us at all. Instead, it only makes us emotionally involved until we get too attached to it, leading us to make decisions we might regret in the end.

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Quote from: Peanutswar on August 17, 2024, 08:41:37 AM

Just recently seen this but few casino offering this kind of user friendly feature for those people who knows the possible outcome of the game it's a good thing because they can now make a cutloss to their game insteading lossing all you have an option to partially have at least with your wage amount, other casino just offer once you put already your money it's all about winning or lossing the game. This feature not offering full payment cash out to their players of course so they can still earn with this feature or be like consider as fee.

The cash out option is in favor of both the gambler and the bookie because if the gambler decided to cash out, it shows that he appreciates the little profits that he has already made on the games that came out as predicted and that gives him an option to walk away with his little profit or continue playing. It is just like a gambler gambling in a casino and is on his winning streak and decided to continue playing because he feels his luck will continue shinning instead of walking away.

On the other hand, the casino will also be prevented from paying huge should incase all the game comes out as predicted. But from my own point of view, the cash out feature is more in favor of the casino.

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful? Or are they doing it to help the gambler take some profit so that even if the game bust, the gambler wouldn't be in total loss? The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

The two answers you gave above might just be it, but for the former, I won't say that the casino is scared, they are not scared, but simply offering you (the gambler) and themself (the casino) the opportunity to save some cash.
This simply means that, if you the gambler accept the cash out offer, and the ticket generally end up not winning, you have saved yourself some money, that is, you gained your staked amount back plus maybe a small profit.

But if on the other hand, you accept the cash out offer and the ticket generally end of winning, the casino having paid you less than the amount in the tickets potential win, have saved themselves some money which they can possibly use for other expenditures.

I can't say or explain in full and understandable details why casino offer the cash out, but what I do know and believe is that, this feature contributes to making sports betting more interesting and exciting.

And point of correction, cash outs isn't only offered for parleys(multi-bet ticket) alone, single bets also get a cash out offer as well, though not every single bets.

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Just recently seen this but few casino offering this kind of user friendly feature for those people who knows the possible outcome of the game it's a good thing because they can now make a cutloss to their game insteading lossing all you have an option to partially have at least with your wage amount, other casino just offer once you put already your money it's all about winning or lossing the game. This feature not offering full payment cash out to their players of course so they can still earn with this feature or be like consider as fee.

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Quote from: DaNNy001 on August 17, 2024, 05:58:34 AM

Bookmakers are also gamblers too everything is set and designed to make sure they win, once there is a slight change in the odds of a running game placed by you and let's assume it's going quite well the cashout will be slightly increased, it's a push or tempting offer from them to cashout cause there's a high possibility that you might win the game..many have fallen for this cashout trick...

I really like this part because this true. Not a typical gambler but rather a casino is a professional gambler that gamble with a huge advantage against players due to house edge.

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A friend of mine placed a bet with 1000 to win 50k, it was going quite well and the cashout was increased to 15k..he started having doubts so he cashed out the game and it turned out that the entire game was successful

Is this a single game or a parlay game? A 15K cashout is too small for the potential win he can get. I’m sure that the match is doing well that’s why casino offer a profit on cashout.

This is why you shouldn’t check your bet whenever you are watching live games so that you will not be tempted to cashout when casino offer a tricky cashout.

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Quote from: Yatsan on August 16, 2024, 06:15:26 AM

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Quote from: seoincorporation on August 15, 2024, 09:40:21 PM

Bookies win money with that option, they let users cashout less than the full amount they would have to pay if the bet win, and that way they save some money by paying a percent of the bet and not the full amount.

This.

They won't be paying the max money that bettor is about to win and that's why options like this is also made by them to save money, and more money if the volume of wins from many bettors are there.

As they know that not all bettors have the balls to keep on pushing and let all of the money slide to their wins until it's finished. This is an advantage on them that they'd only pay a portion of it and a huge less from the amount that the bettor should win.

On the other side, if the bettor don't want to continue with the bets anymore, that's actually a good option if they just wanna go home with the money.

Yeah this is what i know too, as bookmakers generally use the cashout to manage their risk and ensure profitability. So they just allows the users to receive less than the total amount that they can pay out, at the same time they are limiting their risk of large payouts in case the bet does go through. Many known gamblers knew this feature may come in very handy for casinos, since it helps save a lot of money and keeps a person from paying expensive fees. Emotional gamblers are particularly vulnerable in this regard. The money can be made off easily due to their emotions and that too helps the casino. However, a checkout method may prove to be clever as well. Take the case in which you have bet on underdogs and they do well. Now, you can lock in the profit once you make money quickly. I personally think that this can be a good option, but it consumes certain time and involves some luck, thus being somewhat of a double-edged sword in gambling.

Emotionally, I think that's how it becomes a double-edged sword. If given the decision of the winning sports bettor is to take the money and withdraw and walk away.

But then, the bet that he's going for is about to win, that's how it is hitting him badly because of the larger profits that he's about to make.

Although the profits are already secured but the thing is that, it's just lesser than the potential full winnable amount. IMO, that's still win if the profit is taken out.

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful? Or are they doing it to help the gambler take some profit so that even if the game bust, the gambler wouldn't be in total loss? The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

Well, most casinos are offering this feature but not all casinos, it is just a feature for gamblers and bettors to have more options and odds. Since this feature of cashing out before the end of your bet selection is demanded and used by users automatically the casino will offer that for the client. Knowing that online bookies now have developed a lot from regular bet stores with limited options and choices.

I believe cashing out before the end of your bet can be useful as it can be a reason why you always cash out and abandon your bet to minimize your profits or in the other side it can be helpful and save you from losing all the bet and cashing out with good profits.

Moreover, I don’t know if you also have seen the cashing out feature on single bet, even before the beginning of that game you will be able to cash out a percentage of your initial bet, depending on the actual odds that moment.

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful? Or are they doing it to help the gambler take some profit so that even if the game bust, the gambler wouldn't be in total loss?

Cashout is a casino feature that aims to benefit the casino because it can prevent them from paying big wins but also benefits the player if the decision to cash out is correct because the remaining bets turn out to be all lost, so this feature benefits both the casino and the player if it is used correctly but the casino is the one who gets the most benefit from this because the player who can win by cashing out prevents the casino from paying big wins, and players who do not cash out and end up losing mean the casino does not have to pay anything because the cashout feature is on multi bets which are not easy for players to win.

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Quote from: Pandu Geddon on August 17, 2024, 01:14:02 AM

some gamblers will also definitely consider their chances of winning. if the offer is attractive with good benefits, of course, gamblers will also be interested in the guaranteed victory that can be obtained instead of continuing to wait until all the games are finished. of course, gamblers will consider their chances. if it is still quite high, gamblers will likely ignore the cashout offer. I don't know clearly who will benefit more from this feature. but gamblers and bookies must calculate their advantages and disadvantages.

Of course the advantage is with the bookies, not in one game, but in the total games played in their platform, the bookies cannot bring an option in which they are going to lose in the long run, if they do that they will run out of business. That being said, it is very difficult to predict the right time to cash out or not, i try not to think about it too much and just follow my gut feeling, as well as the odds of the remaining games. Another important factor to consider is your present financial situation, if the cash out offer will do you a great deal of good, then it is better to take it and solve some of your problems, rather than take the risk of seeing the game out.

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Well, I have always asked myself this question several times, but guys, I also want to get your opinion.

For gamblers who are really into sports gambling, you are aware that some casinos offer you a cash-able amount, which is usually some percentage of the potential winnings on your ticket. These cash-out offers are usually presented if you stake in an accumulator (for example, up to 20 selected games), and luckily, if 15 or 18 games are already successful in your accumulator,the casino will offer some percentage of the cash out of the potential winning amount.

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful? Or are they doing it to help the gambler take some profit so that even if the game bust, the gambler wouldn't be in total loss? The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

They do so in order to minimize damage but at Stake nowadays that option is grayed out for most multi tickets I place there.Before such option was always active and let's say if you have a multi 25 game ticket and you had find 15 correctly while the total odd of the ticket being let's say over 5000x the casino offered to give you a cashout of 275x if you were happy with that,this way they were minimizing the risk to payout x5000 if you happen to be lucky and win all the 25 games of that ticket.I have taken profit of such opportunities quite some times but it is from quite a long time now that the cashout button is grayed out and only in few selected tickets so I would love to see this option back 100% as it was a lot of fun placing over 5000x odds tickets with the lowest bet 0.01 dollar.

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful?

When casinos allow people to bet, they have already made all the calculations that even if that person gets the bet right, they will have the funds to pay that person. At least that is what any reliable casino does. We need to understand that bookmakers and casinos were created in such a way that they always win, they are not there to lose, hence strategically they put the cashout option. Because when a person makes a multibet bet that has many games, something like 15 games and has odds of @100.00, the bookmakers know that when that person gets 14 games right and is waiting for the result of the last game, that person will become emotionally unbalanced and has a greater chance of cashing out and winning an amount lower than that which he would have if he got all the bets right.

Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

because bookmakers work with probabilities, they know very well that even in a game where there is @1.11 odds in favor of a big team, there is still a chance that the big team will lose, so offering the cashout option is also a bet that bookmakers are making against the bettor.

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Well, I have always asked myself this question several times, but guys, I also want to get your opinion.

For gamblers who are really into sports gambling, you are aware that some casinos offer you a cash-able amount, which is usually some percentage of the potential winnings on your ticket. These cash-out offers are usually presented if you stake in an accumulator (for example, up to 20 selected games), and luckily, if 15 or 18 games are already successful in your accumulator,the casino will offer some percentage of the cash out of the potential winning amount.

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful? Or are they doing it to help the gambler take some profit so that even if the game bust, the gambler wouldn't be in total loss? The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

Bookmakers are also gamblers too everything is set and designed to make sure they win, once there is a slight change in the odds of a running game placed by you and let's assume it's going quite well the cashout will be slightly increased, it's a push or tempting offer from them to cashout cause there's a high possibility that you might win the game..many have fallen for this cashout trick... A friend of mine placed a bet with 1000 to win 50k, it was going quite well and the cashout was increased to 15k..he started having doubts so he cashed out the game and it turned out that the entire game was successful

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Well, I have always asked myself this question several times, but guys, I also want to get your opinion.

For gamblers who are really into sports gambling, you are aware that some casinos offer you a cash-able amount, which is usually some percentage of the potential winnings on your ticket. These cash-out offers are usually presented if you stake in an accumulator (for example, up to 20 selected games), and luckily, if 15 or 18 games are already successful in your accumulator,the casino will offer some percentage of the cash out of the potential winning amount.

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful? Or are they doing it to help the gambler take some profit so that even if the game bust, the gambler wouldn't be in total loss? The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

The reason why some platforms enables cash out is not because of the reason that they cannot afford to pay a gambler if they win but however is another way or strategy to sometimes reduce there expenditure, though cash out can come in a positive way and also a negative way for them because one of the purpose of putting cash out is that if the potential wining of a gambler was supposed to be $2k immediately the 10 games has entered out of 13 games they will have the mindset that since 97% of game as played there is a higher chance that the remaining one can also play so by trying to reduce the cost they will display the cash out option so that it will race a motion of double thought by the gambler as such they would be tempted to collect the money they have already seen instead of waiting to see the outcome. Secondly the reason why they also put cash out is to attract more users because we all know that every gamblers values a platform that has a cash out option so to remain competitive on the business every betting platform will always consider the cash out option.

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Quote from: Charles-Tim on August 15, 2024, 04:18:09 PM

Cashout or not cashout, the gambling site is still winning while most bettors are losing. I only guess the feature is available on the betting sites just to fool bettors. Cashout do not have any advantage for me at all.

The cashout is only existing in a way to make bettors to lose. On some gambling sites, before the match starts, you will be able to cashout. But not all your money that you will be able to cashout. If the club you bet on is winning, the cashout will be available in a way that you can not take all the winning. Cashout is rubbish and for the advantage of the bookies.

You can call it to fool bettors but I see it as a marketing technique to attract other bettors to their system. Many bettors have left their previous casino platform used for gambling and moved down to a casino platform that supports cash out. You know some people have been closed to winning some games, for instance, out of 20 games they had just 2 left to win the game. The two remaining is a lot of money for them to cash out and if their casino does not support it they would have to wait till all of them play. If the casino has a cash out system then they could take the win even if it is not much compared to the original wins.

However, i would say it is a two system, which one is for attracting bettors and the other is for their own benefit. The idea was meant to make bettors have emotional swings. Whether to cash out or leave it. If the bettors leave it they are likely to win huge money so the cash out system would make them settle for less if they choose to cash out.

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful?

I assume that this is related to the casino's risks, that is, in this way the casino tries to "buy off" the gambler with "little blood" (a smaller amount), so as not to pay out a significantly larger amount (reducing losses).

Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Or are they doing it to help the gambler take some profit so that even if the game bust, the gambler wouldn't be in total loss?

And this already sounds funny, because the casino is least interested in the gambler’s profit.

Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

Because the gambler's potential win can cause more significant losses to the casino. And also, this offer from the casino does not mean that every gambler will accept it.

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Quote from: Charles-Tim on August 15, 2024, 04:18:09 PM

Cashout or not cashout, the gambling site is still winning while most bettors are losing. I only guess the feature is available on the betting sites just to fool bettors. Cashout do not have any advantage for me at all.

The cashout is only existing in a way to make bettors to lose. On some gambling sites, before the match starts, you will be able to cashout. But not all your money that you will be able to cashout. If the club you bet on is winning, the cashout will be available in a way that you can not take all the winning. Cashout is rubbish and for the advantage of the bookies.

I can't actually tell the purpose of introducing the partial cash out in the first place but I see it as 50/50 chance for both the gamblers and the gambling platforms. For gamblers, it helps to minimize losses by allowing them to recover their wager amount if the bet eventual turn out negative and thereby reduce the potential lose.

On the part of gambling sites, it reduces their liability since they will not longer pay full amount of gamblers potential win if the game eventually wins. It's hard seeing betting sites having interest of gamblers at heart but in this case, I see it as a win win situation that benefits both parties, one at a time.

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Quote from: Dr.Bitcoin_Strange on August 15, 2024, 04:05:46 PM

Well, I have always asked myself this question several times, but guys, I also want to get your opinion.

For gamblers who are really into sports gambling, you are aware that some casinos offer you a cash-able amount, which is usually some percentage of the potential winnings on your ticket. These cash-out offers are usually presented if you stake in an accumulator (for example, up to 20 selected games), and luckily, if 15 or 18 games are already successful in your accumulator,the casino will offer some percentage of the cash out of the potential winning amount.

Why does the casino do that? Is it that they are scared of paying off that potential win if the game is finally successful? Or are they doing it to help the gambler take some profit so that even if the game bust, the gambler wouldn't be in total loss? The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

To understand why, you just need to look at how much they pay you for a cashout. Spoiler: about 30 percent below the fair amount. For example, if you have already won $1,000 and one of your remaining picks is already in play (but events have not yet changed the odds), you will be allowed to make a cashout of $700. The ratio can be different (I play high odds, so for you the cashout percentage may be more attractive if you play low odds), but it is always lower than if you simply hedge the bet.

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First of all, I think it's better to say sports betting site or even betting site, not casino because it seems contradicting as casinos mainly offers non-sports betting games. I don't think that the betting platforms are scared of paying in full once the bettor wins their bets but they are in fact generous for having such an idea, so it's weird to see a post like yours questioning it, hehe, peace man but if I will ask you, would you rather prefer to play the game until the end? I don't mean a single game here but I'm referring to multi's or parlays.

I bet you won't most of the times because you will also feel scared and many bettors especially the experienced ones will always want to grab an open opportunity. They will say that I won't let this money being offered in the table turned into stone only because I let my greed eat me alive. They already learned their lessons before and they don't want to repeat the same mistakes again and again.

The last thing that you said can also act as an answer to your question. Even them already knows how risky this mode of game was, so again like I said earlier, they are generous enough to still make a win-win situation there.

Topic: Why do bookies allow cashouts? - page 4. (Read 1122 times)