Why do bookies allow cashouts?

[Odohu]

Bookies win money with that option, they let users cashout less than the full amount they would have to pay if the bet win, and that way they save some money by paying a percent of the bet and not the full amount.

Most gamblers are emotional, and will cash out before the game ends, and that's is good for the casinos. But sometimes this feature could used against the casino, for example, if you bet in the underdog, and that team have a nice start, you can cashout a descent profit. That's a wise way to use that feature, but you need luck on your side for that.

I have lost money many times using the cashout option and this makes me agree with you. Maybe the bookies understand that people tend to cut short their winning while allowing the losing bets to finish hoping it will change. When I bet a game and the game is working perfectly well, there will be a very big temptation to cashout especially when I'm offered amount far bigger than my capital. On the contrary, when the game is going against me and the cashout is very small, there will be no motivation to cashout the game. This is the psychology behind the cashout system which is cutting short winning games and allowing losing games to run. The bookies profit from this mostly.

[Findingnemo]

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?

That's how business works when you are 90% successful and they assume that they can cut you off with 50% of total winnings which most people will accept so the casinos won't lose the remaining 50%.

Why, is it just to save them from potential loss but you have the deciding authority whether you want to go on and take the risk or gonna settle in with what you're offered, myself will take out the money cause all it takes just one loss in Parlay.

[Solosanz]

It's because the gamblers are asking them to add this feature, if there are not many request, they will not do it.

Cash out is a form of gambling too since you might made correct decision or wrong decision, which the bookies think it's nothing wrong since they could benefited from people who cashout when all of the bets were actually correct.

Imagine if the casino don't have cash out feature, many users will demand it.

[tsaroz]

It surely is not just well wishing. With every results, the odds for the betor to win keeps on increasing and there would be a time when it would be better to pay off a compensation amount to the betor than to risk paying a full win. They won't be doing it manual and there are algorithm and formulas to calculate what to offer at what point of time.
This is not something every of them do so it is also a plus feature many of the gamblers would enjoy. It would also be a marketing strategy for the bookie.

[Awaklara]

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?

casino will not be short of funds to pay bets. I think it's just a feature to trick gamblers into betting. especially if you have already made some bets and have seen the profits, there are only a few matches that have not come out but the situation is still unclear whether you will win the bet or not.
that's to test the steadfastness of the gambler, the situation can benefit the gambler or not, but if you think the chances are better, I'm sure the gambler will stay in his bet.

[Coin_trader]

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 works in casino advantage most of the time. You’re right on assumption that casino want to cut payment amount since they are only paying very small portion for a cashout bets while some user do struggle sometimes and become greedy on deciding factor matches on the parlay that result on a half baked decision on gambling.

I remember the days that cashout is not yet implemented on bets. Players need to do counter bet just to breakeven the active bets that placed wrong but right now player can just use the cashout button to quickly cancel bet with minimal loss if the game is not yet started. I think this is one of the advantage of cashout of players aside from take profit when the last game has low win rate.

[EarnOnVictor]

-snip-
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've experienced this kind of offer in other risky activities even before starting gambling on sports betting and I believe it is a risk being taken by both you and the bookies. They majorly do that to lure you to accepting a low pay if the betting is more feasible that you will win, but at the same time, they are taking a risk because if it turns out that you lose the bet, they've already missed the opportunity to gain all your money.

Some bookies also use it to attract customers in this competitive world, you can imagine those bookies that do not offer such compared to those who do, people will, of course, prefer those who offer it especially when they have reasonable offers when you are winning. For instance, some bookies may offer to give you $850 at a point when the total winning may be about $1,000. Is that not fair enough?

I wonder why I should not take that offer if I bet only $350 for instance. And this is still your choice, you may wait till the end of the games to claim all, but most times in this situation, I go for the nice pay before the match ends, especially if the chance of winning is not so high.

[Pandu Geddon]

Some bookies also use it to attract customers in this competitive world, you can imagine those bookies that do not offer such compared to those who do, people will, of course, prefer those who offer it especially when they have reasonable offers when you are winning. For instance, some bookies may offer to give you $850 at a point when the total winning may be about $1,000. Is that not fair enough?

some gamblers will also definitely consider their chances of winning. if the offer is attractive with good benefits, of course, gamblers will also be interested in the guaranteed victory that can be obtained instead of continuing to wait until all the games are finished. of course, gamblers will consider their chances. if it is still quite high, gamblers will likely ignore the cashout offer. I don't know clearly who will benefit more from this feature. but gamblers and bookies must calculate their advantages and disadvantages.

[Webetcoins]

First of all, I think it's better to say sports betting site or even betting site, not casino because it seems contradicting as casinos mainly offers non-sports betting games. I don't think that the betting platforms are scared of paying in full once the bettor wins their bets but they are in fact generous for having such an idea, so it's weird to see a post like yours questioning it, hehe, peace man but if I will ask you, would you rather prefer to play the game until the end? I don't mean a single game here but I'm referring to multi's or parlays.

I bet you won't most of the times because you will also feel scared and many bettors especially the experienced ones will always want to grab an open opportunity. They will say that I won't let this money being offered in the table turned into stone only because I let my greed eat me alive. They already learned their lessons before and they don't want to repeat the same mistakes again and again.

The last thing that you said can also act as an answer to your question. Even them already knows how risky this mode of game was, so again like I said earlier, they are generous enough to still make a win-win situation there.

[KTChampions]

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?

To understand why, you just need to look at how much they pay you for a cashout. Spoiler: about 30 percent below the fair amount. For example, if you have already won $1,000 and one of your remaining picks is already in play (but events have not yet changed the odds), you will be allowed to make a cashout of $700. The ratio can be different (I play high odds, so for you the cashout percentage may be more attractive if you play low odds), but it is always lower than if you simply hedge the bet.

[knowngunman]

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.

The cashout is only existing in a way to make bettors to lose. On some gambling sites, before the match starts, you will be able to cashout. But not all your money that you will be able to cashout. If the club you bet on is winning, the cashout will be available in a way that you can not take all the winning. Cashout is rubbish and for the advantage of the bookies.

I can't actually tell the purpose of introducing the partial cash out in the first place but I see it as 50/50 chance for both the gamblers and the gambling platforms. For gamblers, it helps to minimize losses by allowing them to recover their wager amount if the bet eventual turn out negative and thereby reduce the potential lose.

On the part of gambling sites, it reduces their liability since they will not longer pay full amount of gamblers potential win if the game eventually wins. It's hard seeing betting sites having interest of gamblers at heart but in this case, I see it as a win win situation that benefits both parties, one at a time.

[m2017]

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

I assume that this is related to the casino's risks, that is, in this way the casino tries to "buy off" the gambler with "little blood" (a smaller amount), so as not to pay out a significantly larger amount (reducing losses).

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?

And this already sounds funny, because the casino is least interested in the gambler’s profit.

The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

Because the gambler's potential win can cause more significant losses to the casino. And also, this offer from the casino does not mean that every gambler will accept it.

[Dailyscript]

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.

The cashout is only existing in a way to make bettors to lose. On some gambling sites, before the match starts, you will be able to cashout. But not all your money that you will be able to cashout. If the club you bet on is winning, the cashout will be available in a way that you can not take all the winning. Cashout is rubbish and for the advantage of the bookies.

You can call it to fool bettors but I see it as a marketing technique to attract other bettors to their system. Many bettors have left their previous casino platform used for gambling and moved down to a casino platform that supports cash out. You know some people have been closed to winning some games, for instance, out of 20 games they had just 2 left to win the game. The two remaining is a lot of money for them to cash out and if their casino does not support it they would have to wait till all of them play. If the casino has a cash out system then they could take the win even if it is not much compared to the original wins.

However, i would say it is a two system, which one is for attracting bettors and the other is for their own benefit. The idea was meant to make bettors have emotional swings. Whether to cash out or leave it. If the bettors leave it they are likely to win huge money so the cash out system would make them settle for less if they choose to cash out.

[Roseline492]

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 reason why some platforms enables cash out is not because of the reason that they cannot afford to pay a gambler if they win but however is another way or strategy to sometimes reduce there expenditure, though cash out can come in a positive way and also a negative way for them because one of the purpose of putting cash out is that if the potential wining of a gambler was supposed to be $2k immediately the 10 games has entered out of 13 games they will have the mindset that since 97% of game as played there is a higher chance that the remaining one can also play so by trying to reduce the cost they will display the cash out option so that it will race a motion of double thought by the gambler as such they would be tempted to collect the money they have already seen instead of waiting to see the outcome. Secondly the reason why they also put cash out is to attract more users because we all know that every gamblers values a platform that has a cash out option so to remain competitive on the business every betting platform will always consider the cash out option.

[DaNNy001]

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?

Bookmakers are also gamblers too everything is set and designed to make sure they win, once there is a slight change in the odds of a running game placed by you and let's assume it's going quite well the cashout will be slightly increased, it's a push or tempting offer from them to cashout cause there's a high possibility that you might win the game..many have fallen for this cashout trick... A friend of mine placed a bet with 1000 to win 50k, it was going quite well and the cashout was increased to 15k..he started having doubts so he cashed out the game and it turned out that the entire game was successful

[Slow death]

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

When casinos allow people to bet, they have already made all the calculations that even if that person gets the bet right, they will have the funds to pay that person. At least that is what any reliable casino does. We need to understand that bookmakers and casinos were created in such a way that they always win, they are not there to lose, hence strategically they put the cashout option. Because when a person makes a multibet bet that has many games, something like 15 games and has odds of @100.00, the bookmakers know that when that person gets 14 games right and is waiting for the result of the last game, that person will become emotionally unbalanced and has a greater chance of cashing out and winning an amount lower than that which he would have if he got all the bets right.

The casino offers cash out when they are not even sure that the ticket will play out successfully, why?

because bookmakers work with probabilities, they know very well that even in a game where there is @1.11 odds in favor of a big team, there is still a chance that the big team will lose, so offering the cashout option is also a bet that bookmakers are making against the bettor.

[swogerino]

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?

They do so in order to minimize damage but at Stake nowadays that option is grayed out for most multi tickets I place there.Before such option was always active and let's say if you have a multi 25 game ticket and you had find 15 correctly while the total odd of the ticket being let's say over 5000x the casino offered to give you a cashout of 275x if you were happy with that,this way they were minimizing the risk to payout x5000 if you happen to be lucky and win all the 25 games of that ticket.I have taken profit of such opportunities quite some times but it is from quite a long time now that the cashout button is grayed out and only in few selected tickets so I would love to see this option back 100% as it was a lot of fun placing over 5000x odds tickets with the lowest bet 0.01 dollar.

[Coyster]

some gamblers will also definitely consider their chances of winning. if the offer is attractive with good benefits, of course, gamblers will also be interested in the guaranteed victory that can be obtained instead of continuing to wait until all the games are finished. of course, gamblers will consider their chances. if it is still quite high, gamblers will likely ignore the cashout offer. I don't know clearly who will benefit more from this feature. but gamblers and bookies must calculate their advantages and disadvantages.

Of course the advantage is with the bookies, not in one game, but in the total games played in their platform, the bookies cannot bring an option in which they are going to lose in the long run, if they do that they will run out of business. That being said, it is very difficult to predict the right time to cash out or not, i try not to think about it too much and just follow my gut feeling, as well as the odds of the remaining games. Another important factor to consider is your present financial situation, if the cash out offer will do you a great deal of good, then it is better to take it and solve some of your problems, rather than take the risk of seeing the game out.

[Strongkored]

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?

Cashout is a casino feature that aims to benefit the casino because it can prevent them from paying big wins but also benefits the player if the decision to cash out is correct because the remaining bets turn out to be all lost, so this feature benefits both the casino and the player if it is used correctly but the casino is the one who gets the most benefit from this because the player who can win by cashing out prevents the casino from paying big wins, and players who do not cash out and end up losing mean the casino does not have to pay anything because the cashout feature is on multi bets which are not easy for players to win.

[GxSTxV]

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?

Well, most casinos are offering this feature but not all casinos, it is just a feature for gamblers and bettors to have more options and odds. Since this feature of cashing out before the end of your bet selection is demanded and used by users automatically the casino will offer that for the client. Knowing that online bookies now have developed a lot from regular bet stores with limited options and choices.

I believe cashing out before the end of your bet can be useful as it can be a reason why you always cash out and abandon your bet to minimize your profits or in the other side it can be helpful and save you from losing all the bet and cashing out with good profits.

Moreover, I don’t know if you also have seen the cashing out feature on single bet, even before the beginning of that game you will be able to cash out a percentage of your initial bet, depending on the actual odds that moment.