Why do bookies allow cashouts?

[Dr.Bitcoin_Strange]

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.

Sure, some gamblers prefer bookies that offer cashouts because it's an advantage for them to take profit when all the selected games have not yet been played successfully, instead of risking waiting for all the games to play out when they are not sure if the last game will be successful or not. 

In a few cases, I have heard stories and have also witnessed the experience of some gambler that had a cashout of above $2k while the potential winning was on the range of $5k. The guy refused to accept the cashout, and the bet was unsuccessful at the end. He regretted not cashing the first offer he got. 

Personally, for me, I don't joke with cashouts; if the offered amount I see is quite tangible, I will just take it and leave or might end up using some of the money to restake on the remaining games. 

[Fortify]

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?

In my experience all the cash out offers are bad - they're either giving you pennies back on the dollar when your bet is already on the way to losing (thus closing down any risk for the bookmaker and securing your money) or they are trying to get you to close a bet that is likely to pay off, while saving themselves a bit of money. It's actually a brilliant device for bookmakers, because individuals are rubbish at estimating risk and odds with the limited information available, however their analytical software is capable of making some pretty good assumptions that will either make them a guaranteed profit or cut losses early. The biggest beneficiary is the house, but gamblers could make some useful profits if they can read a game accurately and cash out before it flips.

[betswift]

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.

This is the reality of gambling, with or without this feature the bookies still win no two ways about it!

But I guess the cashout feature is to allow players to get something out from a bad bet , the cashout feature can also be seen as a way to avoid paying out maximum payouts as gamblers get out what they can especially if cashout is generous..but in any case this should be seen as a feature to invite players to the platform as not every bookie has integrated this feature.

It's a feature that's there, but I agree with your first paragraph Even though it's beneficial for the common gambler, it's still not a sign of good will for the sake of it per se.

[Cookdata]

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?

Are you familiar with this program they called who want to be a millionaire? It's famous in almost countries with good TV programs. This is a place where you can become a millionaire answering questions and as you answer the questions correctly it get tougher to move to the more rank that has more money but you have an option to exit and cashout incase you are not sure about the answer and they give you the option to leave before reading the next question otherwise you will be stuck there and if you lose, you lose everything. The concept is similar to gambling.

If you are given option to cashout some money, the casino is been generous to you and they are trying to avoid you losing the opportunity and it could also mean that the casino are trying to avoid paying you more incase those games won but if you look at it more technically, it favours the players because how many people are really winning money from casino, it's the other way round.

[DaNNy001]

I think that the casinos are offering cash out to limit their own losses should incase the game did not cut, for them to be at the safe side. This will enable the gambler to have a choice on either cashing out the amount offered or continue with his bet.

I would not say that casino has the interest of the gambler in mind because they don't care and would prefer that the gambler losses his bet. Otherwise, I would have said that they are giving you the cash out offer let it not be that your games that outcome came out as predicted was in vain.

Very correct, it's a strategy used by the bookmakers to reduces their losses, a lot of people have cashed out a game that turned out to be successful, but I think wether or not you decide to cashout the accumulative losses combined from different users gives them a lot of Profit, regardless of this they still want to make sure that they are making more than the users that are winning, this is actually one of the scam system of gambling, it was designed to take from people

[SmartGold01]

Do you know that so far the numbers of people who are losing money in gambling is actually pretty much higher than winning and sincerely if this option isn't provided there could be declined

Analysis has proven before in statistical method that total number of losers in gambling is higher than the one who benefited in gambling, so any gambling websites most put a clause that they will benefit on it, so that's why I do tell people to make research of any site before they go into it.

It's actually important for gamblers to already accept the risk before involving themselves because lot of people think gambling is just place to come catch big fish and leave just as it's to someone who goes to River to fish and go home. People should make adequate research on how to site works before going into it to gamble and accept the fact that we winning and losing is sure but losing ratio is extremely higher.

Thats the fact, gambling is risk itself and I believe many gamblers understands this, once you have the mindset of putting your money in an uncertain stuff, you should have been aware that the move that you're considering to make is a risky one, anyone thinking that gambling is an avenue to make huge money easily doesnt understand what gambling is all about.
People just go into what they don't really know without getting a versed information about it because of how inquisitive they are to make money, many gambling companies has categorically stated it in their site that gamblers should gamble responsibly that's to say that there are things you must know before being a gambler, your risk level should be lesser despite how sure and tempting some odds seem to be, a gambler has to be discipline in other not to incur much loss, as for the losing aspect it is everly inevitable and I think it should be in the mind of gamblers at all time.

Yes you are right, discipline matters a lot because most gamblers doesn't discipline themselves on what amount or how they should go with gambling, they are always being carried away because of how they seen it to be as something they would generate additional income without knowing it's for entertainment purpose only. But at the point you gamble with very little amount and as same time entertaining yourself is more better and they wouldn't feel the bad side of it if they stake with amount they can afford to lose.

[iv4n]

...
In a few cases, I have heard stories and have also witnessed the experience of some gambler that had a cashout of above $2k while the potential winning was on the range of $5k. The guy refused to accept the cashout, and the bet was unsuccessful at the end. He regretted not cashing the first offer he got. 

Personally, for me, I don't joke with cashouts; if the offered amount I see is quite tangible, I will just take it and leave or might end up using some of the money to restake on the remaining games. 

I think the answer to your initial question lies in your words, a casino that offers more markets and options is more attractive to players, but it's still gambling. A similar thing exists in slots (and some other games), when we get a bonus we can accept 10 free spins, but if we spin the wheel (usually it's the wheel) we can get more spins or lose everything. It is up to us to decide, to gamble for more or to take a safe but smaller gain.

Since I'm a gambler, I have been in situations like this many times... in sports betting to cash out or wait for the last game for more profit, in slots to accept 10 spins or try my luck for more spins. I don't have the math here, no matter what decision I made (cash out or wait, accept free spins, or try for more) I had many good & bad decisions. It's gambling... At a given moment we decide what to do based on several factors, but will it be a good or bad choice we don't know. It's on us to try it and hope for the best, it's gambling...

So why do bookies allow cashouts? Even thou you made up your mind they allow you to continue with gambling...

[Orpichukwu]

It's a feature that's there, but I agree with your first paragraph Even though it's beneficial for the common gambler, it's still not a sign of good will for the sake of it per se.

It's not just beneficial to the gambler alone; there is also some great benefit that the gambling industry can take from it, as they have been able to reduce how much the gambler could have gained if they waited till the end of the game.
 
On the other hand, the gambler also has the chance to decide if they should reduce the risk and go home with the available cashout or wait patiently and allow the remaining games to decide their faith.

[Fredomago]

It's a feature that's there, but I agree with your first paragraph Even though it's beneficial for the common gambler, it's still not a sign of good will for the sake of it per se.

It's not just beneficial to the gambler alone; there is also some great benefit that the gambling industry can take from it, as they have been able to reduce how much the gambler could have gained if they waited till the end of the game.
 
On the other hand, the gambler also has the chance to decide if they should reduce the risk and go home with the available cashout or wait patiently and allow the remaining games to decide their faith.

That's the main point it's not just for the gambler but also beneficial for the house if ever a gambler decides to stop before the game ends,  they reduced the potential earnings of the gambler,  though also an advantage for the if they end the session if the game ends against their favored, it's a unique offers which can be maximize by each gamblers,  but for sure there are still many who doesn't use this featured as they mostly trusting their instinct and aiming for huge amounts of money  to win.

[betswift]

It's a feature that's there, but I agree with your first paragraph Even though it's beneficial for the common gambler, it's still not a sign of good will for the sake of it per se.

It's not just beneficial to the gambler alone; there is also some great benefit that the gambling industry can take from it, as they have been able to reduce how much the gambler could have gained if they waited till the end of the game.
 
On the other hand, the gambler also has the chance to decide if they should reduce the risk and go home with the available cashout or wait patiently and allow the remaining games to decide their faith.

That's the main point it's not just for the gambler but also beneficial for the house if ever a gambler decides to stop before the game ends,  they reduced the potential earnings of the gambler,  though also an advantage for the if they end the session if the game ends against their favored, it's a unique offers which can be maximize by each gamblers,  but for sure there are still many who doesn't use this featured as they mostly trusting their instinct and aiming for huge amounts of money  to win.

Instinct can make their prize better, or bring it down completely, each decides for themselves, thanks for sharing your points on it!

[davis196]

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?

For me, the most obvious answer is only one. Competition among the bookies.
One bookmaker started offering this cashout option and many sports bettors started moving to this bookmaker. The other bookies also implemented cashout option in order to keep their customers. This is a normal business practice. No business in the world wants to lose customers. I don't think that the bookies are suffering from financial loses by adding this feature. The bookmaker revenue is calculated via a complex formula, but I can't find that formula anywhere on the internet. Basically the bookmaker is always winning, the outcomes of the sports events and the amounts of money, that were cashed out by the players don't matter.

[Distinctin]

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?

For me, the most obvious answer is only one. Competition among the bookies.
One bookmaker started offering this cashout option and many sports bettors started moving to this bookmaker. The other bookies also implemented cashout option in order to keep their customers. This is a normal business practice. No business in the world wants to lose customers. I don't think that the bookies are suffering from financial loses by adding this feature. The bookmaker revenue is calculated via a complex formula, but I can't find that formula anywhere on the internet. Basically the bookmaker is always winning, the outcomes of the sports events and the amounts of money, that were cashed out by the players don't matter.

The feature has become popular, so everyone wants to have it. However, it still depends on the bookmakers since they are the ones setting up the odds during live games and pre-games. Mathematically, we have a disadvantage when using the cash-out option because our real chances of winning are often higher than the amount we receive if we cash out.

Only those who consider math as a critical factor understand this, but it's quite complicated, so many bettors don't bother checking. They simply think that by cashing out, they’ve either secured a win or minimized a loss.

[Fredomago]

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?

For me, the most obvious answer is only one. Competition among the bookies.
One bookmaker started offering this cashout option and many sports bettors started moving to this bookmaker. The other bookies also implemented cashout option in order to keep their customers. This is a normal business practice. No business in the world wants to lose customers. I don't think that the bookies are suffering from financial loses by adding this feature. The bookmaker revenue is calculated via a complex formula, but I can't find that formula anywhere on the internet. Basically the bookmaker is always winning, the outcomes of the sports events and the amounts of money, that were cashed out by the players don't matter.

The feature has become popular, so everyone wants to have it. However, it still depends on the bookmakers since they are the ones setting up the odds during live games and pre-games. Mathematically, we have a disadvantage when using the cash-out option because our real chances of winning are often higher than the amount we receive if we cash out.

Only those who consider math as a critical factor understand this, but it's quite complicated, so many bettors don't bother checking. They simply think that by cashing out, they’ve either secured a win or minimized a loss.

There are gamblers who used strategy and take this feature in their favor though not a guarantee, but they make something decent cashing out and making secure the profit and not to wait for the actual outcome of the game, though in the essence of your gambling it's lessen the amount of your possible earnings.

Depends from how a gambler set things out when he start playing, it's always your choice in how to maximize your profits.