Is it profitable to hedge/cashout bets before end of sport event?

[Boristhecat]

I know that many bettors, if a sporting event develops in favor of their bet, make a counter bet - for example, they bet on odds of 1.3 and on the opposite event, the odds were 3.3. Then the odds changed 1.3 -> 1.1 and 3.3 -> 5.7. At this moment, they "fix" their winnings by betting on the opposite outcome with odds of 5.7. Or they use the option of selling their bet (cashout - some bookmakers have such an option), that is, they receive their winnings immediately, but less than if they wait until the end of the sporting event.
In my opinion, this is not a profitable strategy, since in this way you minimize your profit, but potentially maximize your losses - if a sporting event develops against your bet, then you lose it entirely without any compensation.

[Oshosondy]

Cashout is only favouring the gambling companies, not punters. I have tried it before. For in-play, if the team you selected to win is losing, the amount of money left to be cashed out will be very low in a way you will be discouraged to cash it out. Even if the team is winning, the amount to be cashed out will be low compared to the total amount that you supposed to win. I do not use cashout anymore.

[Wiwo]

The cash-out features are there to minimize losses in sports betting and on several occasions, I use that features, it may not give you the potential winning but at least, it will reduce the risk of losing everything. I used the features on some matches in the last premiere league and champion league and to a good extent cash out helped me a lot like the final game between Liverpool vs Real Madrid, I gave Liverpool winning but during the match and in the first half I notice the chance of Liverpool winning was dimming and I was offered a cash-out amount that is like 20% loses on my bet amount so I just cash out to avoid a total loss.

[Despairo]

Honestly I'm not a fan of cashout of my bet since I'm betting many events and too lazy to monitoring my bet during watching the events lol. That would make me to not focus on the events, so I can't enjoy it since I'm more looking about my profit. I think a professional gambler who make money by betting a sports will use this kind features, but for me as a gambler who only gamble for fun didn't use this.

[swogerino]

Cashout is only favouring the gambling companies, not punters. I have tried it before. For in-play, if the team you selected to win is losing, the amount of money left to be cashed out will be very low in a way you will be discouraged to cash it out. Even if the team is winning, the amount to be cashed out will be low compared to the total amount that you supposed to win. I do not use cashout anymore.

I use it when I have won for example 6 games out of 7 and I am waiting only one game that plays several hours later.The amount of cashout despite being lower than if I would wait to see the last game if they win I would not like to risk it after finding 6 games correctly and lose it all just for one games.This is the special power of the cashout option and not that it has any other magic power except that,even when you find 2 out of three games in bet,it is better to cashout the winnings rather than risking it all.I still use it in tickets with many games.

[bitbollo]

I think it is tremendously convenient. I consider it a kind of "insurance".

because:
-it allows you to ALWAYS get a win regardless of the final result.
-it allows you to immediately invest in another bet that could guarantee a greater profit.
-it allows you to get protected from "black swans" and unpredictable results.

I personally always accept a cash out in most cases and I always try to bet on bookmakers that offer this gambling option.

[Kakmakr]

Well, if the team you bet on.... is starting to lose.. then it is profitable if you "cashout" before the game ends, because you would have lost everything if they have lost. It is very difficult to "switch" bets in Live games, because the odds change so quickly... and if you have a slow internet.. and the site lag, then it is almost impossible. 

I like to cashout early on "Multi bets".... when I won a few of the first matches and I receive more than I bet, but you have to sit there and time it 100%... 

[danherbias07]

I was in a position before if I should cash out or not. The safe side was to take the profits but I didn't and got greedy.
This cashout feature is best to take advantage of long-term bets.
An example would be from my experience. Took the bet for Dallas Mavericks to win the championships as I was a fan of Luka and the odds given were tempting.
They went to the playoffs which enhances my chance and the cashout was x1.7 already. Then they went to the Western Conference Finals which made it x5, IIRC. I could've cashed it out but I want more. I was in a win-or-lose situation back then and I chose to win it all. Sadly, as they are losing the profits are going lower.

[chaser15]

You already made the bet, just trust your bet and wait for the event ends.

Besides, cashout is only available depending on the probability of your chosen team winning. You can't save your bets here as once you are close to losing, that cashout won't be available until the end unless some miracle happened that favored your team.

Besides, cashout won't just make your head sick. Wait for the result is a much better way.

[Oshosondy]

The cash-out features are there to minimize losses in sports betting and on several occasions, I use that features, it may not give you the potential winning but at least, it will reduce the risk of losing everything.

Let us say you stake $100, a football match started as 0 - 0 and got to 60 minutes of no goal, did you know that the amount of money you will be able to cashout may not be up to $50 again. Let us assume that the opponent is winning 1 - 0 in 60 minutes, did you know that the amount of money you can cashout may not be up to $30. The more the chance of losing, the lesser the money to cashout will be. Our opinion maybe different, but I have seen cashout to have more disadvantage than having advantage towards someone to make profit.

[goinmerry]

Well, if the team you bet on.... is starting to lose.. then it is profitable if you "cashout" before the game ends, because you would have lost everything if they have lost. It is very difficult to "switch" bets in Live games, because the odds change so quickly... and if you have a slow internet.. and the site lag, then it is almost impossible.  

Profitable? The cashout amount should be lowered than your bet if you are losing that bet or am I missing something here? That said amount is even lowered to the point that you won't have any interest to cash it out but rather go straight to the final result.

There's no such thing as betting sites that will give you a profit once you cash out while your team is close to losing that game.

It's just minimizing your possible losses and they are giving you a chance to do it.

[jackg]

I haven't seen this happen on betting sites before but I don't know if this would make you reflect too much on the bet you placed and too little/much less on the game.

If casinos change odds or offer a cash out early, it's probably because it benefits them to offer that (and not you). They either benefit by making you wager more money with a smaller payout or by making your regret withdrawing early (and perhaps making you bet higher on your next bet because of it.

[KTChampions]

Well, if the team you bet on.... is starting to lose.. then it is profitable if you "cashout" before the game ends, because you would have lost everything if they have lost. It is very difficult to "switch" bets in Live games, because the odds change so quickly... and if you have a slow internet.. and the site lag, then it is almost impossible. 

I like to cashout early on "Multi bets".... when I won a few of the first matches and I receive more than I bet, but you have to sit there and time it 100%... 

Once you have placed a bet, you can return approximately 90% of its amount. As soon as your team (on which you bet) starts losing, this amount drops sharply to 30-40%. Given the fact that the situation can unfold and your bet can win, it seems to me that by agreeing to lose 60-70% of the bet at the first unsuccessful turn of events, you will very quickly find yourself in a big loss. It is better to keep the bet until the end.

[buwaytress]

Have discussed several times before with others on this forum and in general, we agree it is better to either ride it oy and to hedge bets instead. E.g. long shot bets that actually take the lead (Villa two goals up against City last season for example. Perfect hedge would have been a City handicap... Which would protect the odds but give you insurance if game goes away from you.

Obviously watching live can give you better knowledge as well of whether to cash out or not, and it is easier than love betting. Certainly less stressful!

[Ulven]

I've tried the cashout feature on many occasions and I think it's useful sometimes, especially when the club you're betting on has a difference of only 1 goal and you have doubts that the outcome will change. You can withdraw a little profit to avoid losing the ticket

[agustina2]

In my opinion, this is not a profitable strategy, since in this way you minimize your profit, but potentially maximize your losses - if a sporting event develops against your bet, then you lose it entirely without any compensation.

I don't want another headache on my future bets that's why I tried to avoid the cashout option.

Instead, I will trust my bet to win regardless of the odds. I already face the risks that are why I will just push for it until the end.

Cashout is for the weak hands lol. More hurtful if the game turned around in favor of you.

[harizen]

Well, if the team you bet on.... is starting to lose.. then it is profitable if you "cashout" before the game ends, because you would have lost everything if they have lost.

I'm not sure about other sites or other sports matches as well, but I think that when your bet is about to lose, it's impossible to make a cashout.

I mean, why gambling sites should do that as they almost claimed your bet amount. The cashout feature will just be opened or available when the match is somehow close or your bet is quite advancing. Don't also expect a profit when you do that in most cases.

For me, it's better to just go straight until the end and wait for the final results. What if you won, that's more regretful.

[jostorres]

I think it is tremendously convenient. I consider it a kind of "insurance".

because:
-it allows you to ALWAYS get a win regardless of the final result.
-it allows you to immediately invest in another bet that could guarantee a greater profit.
-it allows you to get protected from "black swans" and unpredictable results.

I personally always accept a cash out in most cases and I always try to bet on bookmakers that offer this gambling option.

Some really good points made but you have to remember that bet-cashout does take away some value from your potential winnings. For example, if you were to win 200 units by betting 100 units, then your cashout will be around 190 even when the game is almost won because the house edge or the juice is higher on sports betting. When betting on NBA the game can turn within a minute and the last quarter is always risky so if my team is doing well after 3rd quarter I sometimes cash the bet for some loss because you never know when a comeback may happen.

I stopped betting on bitsler because they don't have bet-cashout on sports betting and it sucks to see your bet lose and you are just helplessly watching it. I am not saying bitsler is a bad casino/sportsbook but just sharing my own experience.

[mindrust]

What you are describing is called “sure betting”.

It is an offense on almost every casino. If you are not making any money by doing this, then it don’t make any sense because not playing would give you the same results.

Sure betting, arbitrage betting, chasing +ev games are usually not liked by the casinos and if they find out that you are making only these kind of bets, then they will probably ban your account

[Doell]

Better to lose all money or take advantage by using the cashout? fact is profitable if our bets are on the verge of a cliff, even though the return is small but this feature is very useful for active gamblers who spend most of their time on live sportsbook gambling. However, most gamblers also usually do not use the cashout, for me personally this cashout is useful.