How is cash out a rip off? In the context of single bets i mean. Allows you to get a few bucks back when its obvious the bet isn't going to win.
AFL 2017 - AFL Round 14
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In my experience by the time it's obvious that the bet isn't going to win, you get <1% of your bet back on cash out.
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If it was 'obvious' it wasnt going to win then it wouldnt be worth doing as the bookies have also realised tbis and would make it so you arent making any money.
iluvparis
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They take a massive rake on the cash out option.
So if you're multi has an expected return of $30 they will probably offer you $22
https://oddssniper.com.au/2017/06/16/best-promos-rort-weekend-cant-cash/
"This week we thought we would have a little refresher course in the art of ‘cashing out’. We are using the term ‘art’ very loosely.
It’s a relatively new phenomenon which can only be described as a complete rob. It preys on the uneducated punter’s insecurity and we suggest you steer well clear. In the words of the great Richard Dreyfuss “Let it ride”.
I was asked the other day, “should I cash out?”To to which I replied an emphatic, “no!”, only then to be told “something is better than nothing”.
But is it? And more importantly what price do you have to pay?…. the answer is quite a hefty one.
Before we tee off, we will just clarify a 100% market. This is a market where if you back both or all selections, you will chop out. So if a team is $1.50 the other team is $3.00. Two teams at $2 is another example.
Take our bet here on Jelena Ostapenko who won the French Open. The screenshot shows the cash out value before the final. Bear in mind she was $4.00 in the final against Simona Halep in a 100% market, she was $3.75 Crownbet as you can see below.
With the cash out value being $794.07. Crownbet are now effectively offering you $5.06 about Ostapenko to win the final. When in a 100 % market she is $4.00
So Crownbet are offering to cut your odds by 26.5%.
This is criminal. Thanks, but no thanks.
Halep was about $1.31 in the final. If you were hell bent on cashing out, there is another way, but it requires a much bigger bank, you can trade out.
Firstly you can hop on Betfair and lay your selection, bearing in mind you will have to pay a 5% commission.
Secondly you can back the other side. Look we understand it is impractical for most punters to back the other side on the above bet. But if you find yourself being able to back the other side in a final or something similar in a 100% market, then you aren’t losing out.
Our second example is even more embarrassing than the first. The below bet is on Richmond to win the 2017 AFL premiership. $70 @ $67
With Richmond going ok, and being $24 on Betfair, you would expect your cash out value to be roughly 3 times the price you took, as their price is just over a third of the original price you took.
If like us you thought you would be receiving somewhere in the vicinity of $200, which would be the fair cash out price. You would be wrong, very wrong.
The cash out value is $58.6 of your initial $70. Let that sink in for a moment.
So Richmond have gone from $67 to $23 to win the flag and you are being offered 19% less back that your initial stake.
Two words for you.. daylight robbery."
cash out has it's occasional use on exotics - put $50 on something at $41, gets crunched into $17 (but say $34 elsewhere) and they offer you $80, so you take the cash out and put it on at the $34
but last leg of multi stuff is lol
but last leg of multi stuff is lol
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only use short priced multis where you progressively lay the same bet at the same or very close to the original prices to profit/benefit off bonuses and other incentives.
cash out is aids.
better off to lay off on betfair if you are desperate to get out of a bet.
cash out is aids.
better off to lay off on betfair if you are desperate to get out of a bet.
I never said you would make money. But if you can get a few bucks back on your original stake then i say take the option when u can. Yes, the algorithm is setup to protect them, so by the time its becoming obvious a bet is looking shaky you usually aren't going to get a great deal back, but surely its better than $0 like it was before cash out existed.
Usually, if it's obvious a team has almost no chance of winning, the cash out value is so low (sometimes less than a dollar) that you are better off riding the bet and hoping the team performs a miracle.
The cash out value for Sydney to beat Essendon at the 26 minute mark of the last quarter for a $20 bet would have been about 50 cents I reckon. There is almost no case to be made, from a mathematical perspective to cash out.
I had $20 on Adelaide to beat geelong a few weeks back and cashed out for $4.50 back (more than 20% of my stake) when it looked like the crows weren't up for it. Can't remember exactly what point of the game it was.
Most of the cash outs in my history are similar to this and i haven't lived to regret any of them, only the original bet.
Most of the cash outs in my history are similar to this and i haven't lived to regret any of them, only the original bet.
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