Topic: Why do bookies allow cashouts?  - page 7. (Read 1122 times)

At some point in time both the casino and the gambler will have to take risk and the casino has nothing else to risk that. trying to pay of a gambler for his well performing predictions and perhaps if left without trying to pay the customer off, it will lead to casino paying you well as deserved which is not usually the hearts or structure of casinos. Everyone must take risk and this is the exact risk casinos take knowing that most time customers out of fear will want to manage whatever they see instead of letting the whole shit go away just like that.

But remember that whether the casino offers the cash-out option or not they are still the people in profit not the gambler.

Being a big casino and also having enough money to pay big wins does not mean that if they see a legit chance of reducing how much winning they can pay, they won't grab it. 
 
If you check the rate at which they calculate this cashout, you will see that the casino is trying to play with the gambler by offering such options. I don't know which percentage they use in calculating that cashout from the total potential winning, but the amount is always unfair, and any gambler who's sure of his game will rather take the risk than accept it.
 
You can see a game whose potential winnings are up to $1000, and if it's a game made up of up to eight different sports matches, you can see six of those eight all played, and because of the remaining two games, some casinos won't even offer you up to $600 as cashouts, even if all the games share the same odds.

Make no mistake no bookie is trying to help gamblers win more money.  They are hedging theor bet amd limiting theor downside exposure.  It's all about exposure for them.  They rather take a guaranteed small loss then a potential large loss.  Refer they aremt in it for gambling they are in for profit with the least amount of risk otherwise they will eventually go under amd they know that.

The closer you are to winning, the higher the cash out will be. So they'd offer you a percentage of your potential winnings because if you get to cash out only to find out later that you won the game, then they have paid you less. Yes i know you can cash out and also lose the game at the end, and in that case it is your win, but remember that a casino has so many players and since the cash out is also determined on the odds of the game that's yet to play, then in the long run it is to their favor.

They have already studied it very carefully and wouldn't be adding this if it wasn't profitable. I mean, if we keep using this cash-out option frequently, it will only result in minimizing our wins, but at the same time, it could also lead to frustration if we cash out and then realize we could have won a bigger amount if we hadn’t. Situations like that can affect our gambling session, and we might not be able to concentrate anymore, which could lead to significant losses. So personally, although this option is available with my bookie, I rarely use it because I don't want to be in the position I just described.

It's done for either of the two reasons that you mentioned... The RTP - which is approximately at 95% in almost every casino gambling is just a good explanation of why book makers include cashouts to their users... Mind you, the house edge doesn't have to be too big to avoid the reduction of the chances of winning for their users.

Its not totally useless or just a mere escape strategy as many people may have it here... ; it serves and remains a two-way option to securing a win, just like the "either side to win" option, or the Asian handicap etc... i know of people that wager on extension games and allow it roll to some point, then they'll cashout whatever they've been able to make.

For me I really think the core reason of this in particular is to even cut losses although I don't know the stats in particular but I can tell you that most of these casinos have benefited greatly from this offer than even the gamblers themselves although sometimes it helps the gambler take the opportunity for themselves. But if am to class myself for the number of times this cash out features has helped me I would argue that it should be removed because it has made lost a lot of million just because I was flashed the option of having a Portion of my winnings.

I believe it's a marketing strategy.
The casinos don't really lose much from this because if they do they would have stopped it. I believe it has been analysed properly by the casinos. Usually, the cashout is a very small amount compared to the actual amount that you were supposed to win, so if you take it and the game plays it's your loss because they have reduced the amount that they could have lost at your expense.
Why I believe is a marketing strategy is because more gamblers will use a site that offers cash out and since many sports betting sites now offer cash outs, the ones that don't will be forced to so they don't lose their customers to other sites.

The cashout option is a dicey one. The gambler might regret taking the cash out or he might make the right decision. Also, don't forget that these gambling companies are also very smart, it's not all the time that the cash-out option would be available. They don't lose much and it's also a good feature to attract customers.

I believe this option is a win-win situation for both sides. If the gambler changes his mind, he has option to withdraw via cash out option before the game finishes and for the side of the bookie, they won't pay the full amount if the gambler luckily won the bet. Well, let us put it this way, both sides have benefits on this option. I have selected such option also several times and I won't regret doing such. So for me, the bookie is just giving another option to the gambler, whether you will opt for it or not.

I also perfectly disagree with you. My posts is based on if you are a gambling addicted, be it you use cashout or not, you will continue to lose in betting anytime you have money. If you are the type of person that is always losing in gambling, cashout is not there to help you. It. Looks like something good but it is only not what most of you thought it is.

What is the outcome of the match? If the match ended, would you have won the $200?

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.

You're right, because the objectives of casino owners is to make a profit, and the essence of establishment of casino is to ensure that stand firm and not to lose their capital, the money we do win in casino gambling site include other gambling is a personal funds someone used to establish gambling, so they will be desperate to make profit not for you as gambler to make  profit, when you lose in gambling the platform rejoice.

Analysis has proven before in statistical method that total number of losers in gambling is higher than the one who benefited in gambling, so any gambling websites most put a clause that they will benefit on it, so that's why I do tell people to make research of any site before they go into it.

Bookies understood there was a huge gap in the market in terms of betting because if you made a bet and your odds were improving at winning, but there was still some time for the market to close, maybe you'd want to cut your risks and withdraw your initial with minor cuts to your potential winnings.

Or alternative you'd want to lock in some loss by selling your position to someone willing to take the risk. This way the bookie makes money on the arbitrage also, perhaps even more than letting someone open a new position because regardless of the outcome they still win more based on the margin between how more cheaply your bet could be sold from a new position.

So now the bookie with the biggest cashout feature has a huge comparative advantage at offering much more flexibility to punters.

Now with betting markets being opened also, where positions can be traded on a free market, bookies have another form of competition that is even more competitive to their traditional model. So they have to adapt as well.

Reputable casinos have enough funds to pay big wins. Therefore, I might dispute the assumption that they are avoiding losses through cashouts. To me, cashouts are just meant to give gamblers different options so that gambling can be more exciting. Having different options to choose from can make sports betting less boring. In physical casinos, there are always arguments or suggestions about cashing out or risking the game.

Some people are not high-risk takers; cash outs give them a chance to express their behavior. I am an example of low risk take and I am always comfortable with cashing out no matter how small the money might be. It could also be a means to make gamblers feel that they can make decisions concerning their games.

I would say that one of the reasons why bookies allows cash out to gamblers is that they want to give gamblers the avenue or an assurance that they can have part of their potential winning even without waiting till the end of their games. I know of some people who got in to most of this gambling platforms simply because they have this cash out features hence it is another way of the betting company to increase the numbers of user in their platforms or betting sites. Moreso, it is also a way of the company to cut losses of paying in full in a situation where the game didn't play out completely.

There's big competition in the gambling industry, and having this kind of feature makes it attractive to new gamblers. Not all bookies have this feature, so those who offer the cash-out option might have an edge over others. However, this cash-out option doesn't give gamblers an advantage, as there's no way they'd implement something that gives us an edge. They live and operate by the juice or commission they make on winning bets, so mathematically, they always end up on the profit side, no matter what feature or promotion they add to the platform.

Basically such is a way of giving the gamblers an edge even so they don't have to loose out totally in case the games doesn't go as they did planned, so the casino have to suffer the loss, it could also be a way of attracting some.more gamblers ro their own casino because not all casinos do offer this so the few who offers it, some gamblers may use it as a strategy to gamble, so what they do is, they wait till they see a cash out that is above their stake then they cash out.

I totally disagree with you on the statement that cash out is way to fool the gambler because that is opposite what cashout is all about, and I can liken cashout to be a form of winning but not in total accumulated percentage on the odds, let me go further to make you understand..

Last week, I staked a bet with a total amount of 50 USDT and while the game was far gone into the second half like about 70 minutes, I was already having a $150 available cashout whereas the total potential winning was around $200, so I cashout out the 150+ USDT, I am at a gain of $100 if I minus my staked amount, so am I not at gain?

In most cases yes, but we cant really be able to deny that we are on a situation that we are winning up lets say 7/10 of our bets and seeing that cash out thing will really be that an advantage
for you to get out on profits on the time or moment that you do see that next 3 games is a little bit disadvantageous or having those kind of doubts about the outcome. Everything would really be that
depending or according into someones choice when it comes into this manner.Even though lets say that that bookies are always at advantage (which is constant or standard) but we cant be able
to deny that those kind of feature thing could give out that kind of option on which bettors would really be loving to have or really they do look positive towards them.

Bookies would really be making things look interesting as much as they could so that they could be able to hook up bettors on making up their bets. On the time that they do know
that they could cash out early on mid-way then they would really be seeing it to be positive rather than on negative, but if you are someone who is really that hating up bookies/house that much
then you would be having these kind of insights on which we know that this is really that involving that deeper understanding on which sometimes its irrelevant.

I think is a two way thing, first is to allow you as a gambler take a percentage of your total win if you're not sure about the success of the remaining games in the bookings you've made, in the other hand the casino company are trying to cut cost, because if you don't take the cashout they've given to you, and the entire game comes out successful, then it a bigger loss to them, so the cashout is a kind of a bait they are using on gamblers for you not to see the bigger picture of your win.
However you can reject the cashout and the game might not go the way you've planned, so it still entirely depends on the gambler to make his choice, the casino can only react to the options you choose.

Literally, for me the reason why casino companies offers cash outs is to make it easy for gamblers because since the introduction of cash out features in gambling, gamblers are not too greedy again to wait till the whole events in a ticket plays accordingly. Regardless of the fact that some people also regrets when they cash out and finally the events they cashed out on still plays accordingly but I commend gambling sites and companies for providing the cash out features if not so many gamblers can even bet games for years without winning but with the availability of cash out features now it is possible to at least win a little from the whole potential winning in the ticket especially for those that bets on running games (that is tickets that the events can run from 2 days and above).

 Providing the cash out features is the only way I think that gambling companies have giving gamblers a little avenue to make a winning from their bets because even if someone cashed out a bet and it still played accordingly, the gambler isn't at lost in toto because he has also gotten some amount of money from the ones already cashed out.