Why do bookies allow cashouts?

[Alpha Marine]

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.

[Jaycoinz]

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.

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.

[Sandra_hakeem]

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?

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.

[freedomgo]

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.

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.

[Coyster]

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.

[wheelz1200]

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?

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.

[Nwada001]

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?

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.

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.

[Churchillvv]

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.

[nelson4lov]

~Snipped

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?

Cashout is a feature that mostly favors bookies because it offers them the opportunity to pay less than the intended amount if the game ends in the favor of the punter. It is worth noting that the bookies will never present a cashout offer if the bet is strongly going against the punter. It is only shown when you still have a decent chance to win the bet despite some shortcomings.

More often that not, Bookies benefit more from a cashed out offer — if the game plays, they pay out a teeny amount. If it doesn't, they only lost a tiny amount + got the player's stake as compensation / bonus.

That's not to say punters don't benefit fromnit because they do. I have used the feature multiple times m the only downside is that it is never in play when your bet is going bad.

[Docnaster]

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.

The cash out option that's provided by gambling platforms are sometimes beneficial to the to gamblers are the other times, plays to the advantage of the platforms. Personally, I use it when I'm not sure of the last game and over 75% of the time I've used, it's always ended in my favor. Some people activate the cash out options out of fear to lose while others activate it when the possibility of winning the last games on the slip is lower than losing it. My advise to anyone that's tryna use it is make sure you'll not regret it cashing out even if the remaining games ended in the favour if your predictions.

[Casdinyard]

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?

Aren't they still liable to pay you the whole winning amount when you do win? As far as I know that's how it goes (and I'm not really that big on betting and whatnot) and that something you get is pretty much just a deposit they make? Although right now I think it does make sense to put out cashouts like that, saves them the money, allows these patrons to still play with them and play even more for that matter, which makes them spend more money, and it creates business through word of mouth cause now these people who do were able to get these preemptive cashouts will tell their folks and everyone who would dare to listen about the bookies that allow them to make such moves.

That is why they allow that. They aren't scared per se, it's just better from an economic standpoint and it's not like everyone's going to do that.

[boyptc]

They are allowing that because that's how their system works if you choose that kind of betting. They can even allow you to withdraw your bets as long as the match hasn't started but you'll not get the original amount that you have bet for.

That means that whether you choose to do that or not, they're always winning. Got that commission from losers and then transfers the portion of it to the winners.

Well, if that's the kind of market that you want to get into as you bet with the bookies, I think it's a brilliant feature that they're asking you to move on or stop. If the amount is considerably good for me, I'd stop and take the cash without any doubt.

[acroman08]

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?

I am not an avid sports bettor so what I might could be wrong but I assume they have this feature to attract gamblers since it allows them some control over risks on their bets, what I mean about this is they can cash out if they change their mind and that think the future matches are too risky.

regarding the "are they scared of paying off a potential win if the game is successful" maybe there is some truth to it, I mean when a gambler decides to cash out and the remaining matches turn out to be all wins, the sportsbooks dodged paying a larger win since the gambler decided to cash out.

[wheelz1200]

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?

I am not an avid sports bettor so what I might could be wrong but I assume they have this feature to attract gamblers since it allows them some control over risks on their bets, what I mean about this is they can cash out if they change their mind and that think the future matches are too risky.

regarding the "are they scared of paying off a potential win if the game is successful" maybe there is some truth to it, I mean when a gambler decides to cash out and the remaining matches turn out to be all wins, the sportsbooks dodged paying a larger win since the gambler decided to cash out.

Nah they aremt gambling against the gamblers.  They rather payout a small amount because knowingly the gambler who wins is likely just to reset that amount on the same platform.  So they cut theor loses under the guise of offering "free" money to the gamblers.  I'm not saying it's a bad for someone to cash out but that feature isn't to entice gamblers to stay on that site.

[adultcrypto]

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 cashout option is not only activated when a gambler plays accumulation of up to 20 games but available even in singles. Now that we are clear on that, let me try to give my reason why cashout was introduced by many casinos. Well, the cashout option is itself gambling because it is a 50/50 game meaning you are offered a chance to sell your ticket or leave it running. The amount you will sell the ticket depends on the probability of the ticket coming out successful, the higher the probability, the higher the amount offered as cashout and vice versa.

[danherbias07]

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?

I highly doubt it's for the purpose of helping the gambler take some profits. Come on, this is a business and not a charity.

They are avoiding a larger payout, that's why it is there.
Check the multiplier and it's way lower of a payment than how much it could bring when you finish the parlay. They know there are scared cat gamblers and they are trying to take advantage of them.
If one gambler doesn't have the courage to continue his long ticket then that's the option for him, the cash out button. I've known some gamblers who take advantage of this feature but they also know that the risk is just the same as making a parlay. If you are not that greedy then that is a good choice.

[TravelMug]

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?

It's like in a game show, casinos are offering you to maybe change your mind and take that cash out. So it's like playing mind games with you, are you going to stick with your remaining bets and keep it up, or will make the early withdrawal and regret your decision later?

And if you take it early, then your profits is going to be too small. So it's a win-win situation for them, and so it's really like a trick on you. But sometimes there are gamblers that are attracted to it and thinking that they might lose the next 2-3 games in let say multi-account betting.

[GreatArkansas]

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.
(....)

I agree with this, some people don't know that when you cash out during the live game, the bookies or casino platforms are still making money off the spread, just like the odds.
Maybe for the gambler, some cashing out if they already profit or some cashing out so the loses is not too much but behind that, casino or bookies are making money already because of the spread.

[ralle14]

Sportsbooks aren't afraid of taking hits or losses temporarily because they can quickly recover those back the next day. Overall, it's one more way for them to get more profit, they always take a good chunk of juice from those cashed out bets, and that's why cashouts tend to be slightly lower than your original stake even though the live odds are the same as your bet. It could help us dodge a bullet after one or two bad matches, but it'll always remain in favor of the bookies because you'll lose more than you should if you keep using it regularly. You could be missing out on a 10%-30% worth of winnings per bet if you don't ride your bets until the end and those reduced winnings easily add up.

[dothebeats]

You have answered your question in your post:

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

This is minimizing the loss on the bookie's side. If they were able to see that you are able to hit 80%-90% of your picks in the bet builder, why would they want to risk paying you 100% when they can pay you right now? Imagine the last legs of that bet builder further multiplying your wins, I would rather offer to pay you for your winnings now than to let my losses further increase.

Bookies and other such platforms are not generous or anything like that when they offer to pay your winnings now. They would take all of your money in a heartbeat if they could.