[Football] Cash out?

[Drebin]

Cash out. If £1300 means that much to him and it's guaranteed then he should take it. If Leicester do it (and we all hope they do) the miracle should dampen the disappointment of not getting the other £3700. Surely?

 

[Wrong-Direction]

I'm a bit gutted as I put a fiver on bournmuff

 

[Hampster Gull]

I'd cash out as I'd be just as happy with £1300 and Leicester winning the title, could always stick a couple of hundred back on them to win also

FaiL

 

[Randsta]

What are you talking about they are going to win the league

 

[Blue3]

I really hope Leciester win the league but suspect they will not so for that I am out

 

[Iggle Piggle]

If I was him, I'd cash out as he is starting to worry and think about it - if he takes the money that goes away.

Me? I'd have been all over Betfair by now with that kind of bet. 5000-1 at laddies at the start of the season. Unprecedented in terms of the upset. Greece for example were around 100s when they won the Euros. Golfers come in at 3 figures but rarely if ever 4.

 

[Hampster Gull]

Stay put unlesss there are odds greater than 3:1 for them to win now

 

[Geestar]

Let it ride!

 

[neilbard]

Basically, it's where you act as the bookie.

Look at betfair.

That's not strictly true because bookies work at overround with Betfair you just match bets so if your the backer or layer you would have a liability whereas bookmakers will win whatever the outcome in most cases!

 

[neilbard]

He has credit card debt is also getting married its a no brainer cash out! Its a shame that he only got 1000/1 because at the start of the season they were 5000/1

 

[1066gull]

I'd wait after Arsenal. Even if they lose I don't it would be back down to 500

 

[GT49er]

There are some betting aficionados on here that know all about this stuff - if, as seems to be suggested, you can cash in part of your bet - say a thousand quid - and leave the rest on (at the original odds), then go for it. Win - win and all that.
If that ain't how it works, cash it all in - and just put a tenner on at whatever odds are being offered now.

 

[theboybilly]

Cash out all day long. Leicester win the title and £1300? And a happy new bride

 

[Albion my Albion]

Gambling novice here, what does 'lay a bit off' mean?

She didn't perform as well as expected and needs to work on her knobbing skills.

 

[Triggaaar]

No. I might lay a bit off though.

How much would you have to put on etc to guarantee a better return than £1300?


I'd either cash out or lay it, depending on how the maths worked out.

 

[Triggaaar]

This really is deal, no deal sort of stuff.

I've always said I would never accept anything the banker offered as what is the point in going on the show. I would want a life changing sum.

However if £1,300 is significant to him then he should take the money as I can still see Leicester blowing it sadly.

The difference is, the offers from the banker are absolute dog-shit, and you should never take them unless you couldn't afford to lose. With this betting slip, the bookies aren't robbing him so much, so it's more of a dilemma. I suspect he should just lay the bet on Betfair.

 

[fat old seagull]

Tough call, as the cash-out really doesn't seem very generous (but then, why would it -bookies aren't mugs).

I think I'd take the risk of waiting until after the Arsenal game this weekend. Win THAT, and his cash out will near double, I guess.

I agree with that, it's a feckin dilemma I've faced several times since Bet365 added this 'wonderful gesture' to their services. All in all I am down on my 'Cash Out' dealings. It's brilliant when you've quadrupled your investment and having pressed the button the bet then loses. But it's soul destroying when you do take the cash and your wager goes on to be successful. Usually meaning you get back a small portion of that which you would have done.
This is an interesting thread for me, as only this past weekend I have resolved to ignore 'Cash Out' on all bets. Primarily because this 'wonderful gesture' is of course offered to us mugs at generally derisive returns only to limit bookies liabilities. Not at all because they are trying to be kind.
There is always the perhaps better option of 'hedging' his wager as time goes on, by laying dosh on a team or teams that might overhaul Foxes. Anyway Good Luck to the op and Leicester I'd love them to break the mold at the top of the Prem. Whilst also making Nigel Pearson look like a tosser!

 

[Mtoto]

I'd wait after Arsenal. Even if they lose I don't it would be back down to 500

If they were to get spanked - and don't forget that Arsenal are odds-on to win, and have the quality to do it - then the tiny handful of punters who have a big price about Leicester will be itching to take anything they can get.

Even paying out the full five grand if he lets it run will simply be a minor irritation for a bookie who will otherwise have enjoyed a season for the ages. Leicester have come down in price due to results, not because people are backing them. Even now, a majority of football fans don't expect them to win it, and the odds agree. They are not even clear favourites. If Leicester do go on to win, countless thousands of pre-season bets - accas, Yankees, outrights, the lot - are guaranteed to stay in the bag.

The bookie is the one in a position of power. They don't need to do anything. It's the punter who is desperate, to get something more out of Leicester's season than a five-quid loss and the thought of what might have been. As a result, a bookie's cash out offer is always going to be as low as they can get away with (and £1,300 is, as these things go, actually very fair).

 

[Iggle Piggle]

How much would you have to put on etc to guarantee a better return than £1300?

I'd either cash out or lay it, depending on how the maths worked out.

At 3.4 on betfair He'd need 3.1k ish to lay it for a guaranteed return of 1.3k (excluding commission). He is losing out on about £850 including the EW portion of the bet if he cashes out without using betfair and his money. As cash outs go, it's not that bad as he has otherwise got to lock up 3.1k of his own money between now and May.

 

[father_and_son]

Cash out... pocket a grand and put £300 back on them winning the title.