Should You Cash In Your Sports Bets Early ? - No ! - The Bookmakers Want You To Take This Option - Reasons Why You Should Never Cash Out Your Bets.
As most punters now know,this enables you to take out a profit before the end of a sporting event,but of course not the full amount you would get if letting it run to the end.
So,is this an option you should use ? - absolutely not !,and here's why.
Firstly,if bookmakers are taking out expensive television ads to constantly push the cash out,you should know by now,that they will benefit from this option the most,not you the punter.
Same with those exotic bets like first scorer,correct score,scorecasts etc. that they keep pushing.You never see the match odds advertised - that's because they make huge profits on those exotic bets,but very little from match odds.
What are you actually doing when you cash out ?
In reality you are just making another bet - on all the other options to the one you have already bet.
Punters know bookmakers have a built in percentage that should (though not always) result in their guaranteed profit.
You pay a bookmakers percentage when you make your first bet - and you are now paying a percentage again when cashing out,when you make another wager within your first original bet - you are paying a levy twice - happy days for bookmakers.
Another disturbing effect cash out has,is the hypnotic and addictive behavior those cash in users succumb to.
Once punters start using cash out they seem to use it time and time again.
I have been in the company of bettors who spend more time watching their cash out figure on their mobile phones than they do watching the sporting event in front of them - not my idea of fun,and most irritating for everyone in their company,and surely resulting in stress inducing decisions every second to the nervous participant.
By using cash out you are cutting your winnings in the long run,and at the same time completely ruining the fun you previously had when watching a sporting event.
What to do if you are in good position and want to protect your profit?.
If you made your bet through a betting exchange you are in a good position - just offer the going odds for your bet to other members (the odds will of course be much lower than the odds you have taken earlier).Just decide the amount to lay.You can see what you will pay out,you will see what your bet wins - just adjust the amounts you lay to give you the profits you are happy with.
If you are betting through a bookmaker,the choices are not so inviting.You can of course back the other results you have not covered,but this is just another bet or bets and another built in profit for the bookmakers - better to just sit it out to the bitter end.
So,should you ever use the cash out tool ? - no,the bookmakers are just dangling that cash amount in front of you,and nervous or impatient punters are biting,much to the bookmakers delight.
Of course,many times your bet will sink due to late goal,but overall,and I know it's hard !,console yourself with the fact that in the long run you will benefit,and you are not dancing to the bookmakers tune like the gullible fellow punters who do cash out their bets.
Gambling is fun and a great hobby,but sometimes it can get out of hand - if you need help please contact begambleaware now.
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