Is Cash Out a Con ........

Of course its a con. Did they think of it to benefit the punters.... hmmm let me think.

The mindset of most punters will ensure they fcuk it up more often than not.

obviously, bookies earn every time cash out is hit

The point I'm making is the horse was dropping in price rapidly , i.e. going really well ,so when I asked to cash out it was still slightly odds against ,  it went on to trade @ 1.2. yet THEY didnt allow me cash out , how can that be...

THEY knew

Same here - only seems to work if the horse goes less than 1.1 and is cantering away with it - wouldn't trust it EVER

Cash out is of course a con but in running cash out is very difficult with rapid price changes.
For example the bumper in Ireland today Avenir D'une Vie went from looking a certainty to beaten in a couple of strides.
It's not a question of They not letting you cash out its a question of what way the market has moved.

Which bookies is it? I've only seen 356's cash outs in-running and I thought they suspend around half way through a race.

I've been offered some great cash outs after getting the first two winners in a lucky 15. I nearly always regret not cashing out but I could never do it in that situation.

BETFAIR I'm talking about , Tolmi the horse hit 1.2 I'd asked to CASH OUT when it was slight odds against ,it would be different if it was heading the other way , that I could understand..

What I mean is if it doesn't match exactly at the time you click you won't be able to.Why don't you have a few more preset cash out options and click on the most appropriate one with a pre determined fill or kill?

Tolmi, just pm'd you..

I like the Cash Out option, but I've only ever Cashed Out pre-race!

Only good for multiples when you are onto the last leg.

Im pretty sure everyone who bets on betfair after their backing of their selection puts up their lays at the prices they want to bail out at.

Of course cash out is a con.  The amazing thing is, people don't even know what it is and what it entails.

All Cash Out is, is a lay bet, except the Cash Out facility will offer you less than you'd actually profit by if you just done it yourself by laying.

If you back a golfer for example at 50/1, and he's leading by three and trading at 1.8, then if you want to lock in a profit then go and lay him - the Cash Out option will lock in less profits than if you do it manually.

It's all about maths, it's all about knowing what you're doing, and sadly, so many punters don't have a clue.

But the Cash Out that makes me laugh most is the accumulator.  You have a treble on three horses, the first two win, and you get offered a Cash Out.  Why the hell do the treble if you're going to cash out after the first two have won.  Why didn't you just do the double in that case?  And the Cash out is always less than what the double would have paid you out at anyway.

For example, you do a £10 treble on three 2/1 shots.  The first two win and you get offered £75 to Cash Out.  Hang on a sec, the £10 double would have paid £90 so why are you offering me just £75?

The answer of course is what I've already said.  YES, Cash Out is a con.  It's a way that bookies can lessen their potential losses, that's all it is.

Question is do we have a REAL option to cash out or is Betfair just hoovering up our money..

Jesus wonky , will you go and lie down. Little sarah has explained it perfectly. You shouldnt be betting if you cant realise cash out is a load of bawloxx.

do lads ,hils or corals offer cash out in shops ? I e if you have a multi with say 3 winners running on to a final selection ?

And to go back to the original poster, why did you want to cash out at the price it was in-running anyway?

Don't say you were the only person in the world who thought the horse was in trouble at 1.2, because if the horse was in trouble, believe me, you wouldn't have been able to lay it at 1.2.

What I'm saying is, if you backed it at say, 8.0, then you backed it to win because you think it will win, so why lay it in-running when it hits 1.2.  Why even consider Cashing Out?

If your answer to the above is because you'd be mad not to lock in a profit if you back something at 8.0 and it hits 1.2 then why don't you just set a lay before the off - why wait for the 'dodgy' Cash Out facility.

Anyone who knows what they're doing will know exactly what I mean, anyone who doesn't have a clue what I'm saying deserves to lose money.

It suits me fine!

Mincer I know you're not a well man ,but try looking at the times we both posted hth. Shouldn't you be off critising jockeys somewhere...

Little, the race was full of carnage horses falling all over the place , I thought my lad had jumped a bit iffy on the way round as well , so thought the fences were the only thing that could do it , turns out he made a horlicks of the last , hense him getting beat...

Wonky, as usual you are making no sense. You really are embarrassing yourself now. No wonder us paddies are labelled the way we are.

The prices move too quickly during a horse race for cash out to work in your favour. Generally speaking you only get to cash out when the market was massively going your way anyway (as people have mentioned above). I don't think cash out is necessarily a bad thing though as it could encourage newbies to learn more about trading and laying on the exchange.

Err, how about using Gruss?

I have the green up button disabled on gruss,,,

what ever for?

For me custom columns are better. The green up button often/usually only works when the market's going your way anyway.

how is it a con?  a £10 treble pays £500 and the 1st 2 win...cash out gives you £350,you accept and the bet loses...who pays the £350?

TheFear
     21 Jan 16 22:28   


For me custom columns are better. The green up button often/usually only works when the market's going your way anyway. 

no **** Sherlock

Depends why you're cashing out. If it's simply for the sake of it, then yes, it probably is a mug bet.

But all cash out is, is two (or more) bets. If you're backing something at 8/1 because you think it's got a better chance than that, and decide to cash out at 1.2 because you don't think it's got an 80% chance of winning, then both are fair bets.

Is Cash Out a Con ........

YES
YES
YES
and
YES

Jan 21, 2016 -- 8:56PM, LittleSarah wrote:

And to go back to the original poster, why did you want to cash out at the price it was in-running anyway?Don't say you were the only person in the world who thought the horse was in trouble at 1.2, because if the horse was in trouble, believe me, you wouldn't have been able to lay it at 1.2.What I'm saying is, if you backed it at say, 8.0, then you backed it to win because you think it will win, so why lay it in-running when it hits 1.2.  Why even consider Cashing Out?If your answer to the above is because you'd be mad not to lock in a profit if you back something at 8.0 and it hits 1.2 then why don't you just set a lay before the off - why wait for the 'dodgy' Cash Out facility.Anyone who knows what they're doing will know exactly what I mean, anyone who doesn't have a clue what I'm saying deserves to lose money.

IS 100% CORRECT

Jan 21, 2016 -- 8:47PM, LittleSarah wrote:

Of course cash out is a con.  The amazing thing is, people don't even know what it is and what it entails.All Cash Out is, is a lay bet, except the Cash Out facility will offer you less than you'd actually profit by if you just done it yourself by laying.If you back a golfer for example at 50/1, and he's leading by three and trading at 1.8, then if you want to lock in a profit then go and lay him - the Cash Out option will lock in less profits than if you do it manually.It's all about maths, it's all about knowing what you're doing, and sadly, so many punters don't have a clue.But the Cash Out that makes me laugh most is the accumulator.  You have a treble on three horses, the first two win, and you get offered a Cash Out.  Why the hell do the treble if you're going to cash out after the first two have won.  Why didn't you just do the double in that case?  And the Cash out is always less than what the double would have paid you out at anyway.For example, you do a £10 treble on three 2/1 shots.  The first two win and you get offered £75 to Cash Out.  Hang on a sec, the £10 double would have paid £90 so why are you offering me just £75?The answer of course is what I've already said.  YES, Cash Out is a con.  It's a way that bookies can lessen their potential losses, that's all it is.

100% CORRECT THERE LITTLESARAH

if the money means anything then cash out..whats the big deal.

Haven't checked in-running (and it wouldn't be simple to do so) but the cash-out offer on Exchange markets pre-race is *exactly* what you'd get by laying the bet at the best lay price on the market view (and that's really easy to check) so I'd suggest the people suggesting BF are skimming are just conspiracy theorists.

I'm not sure whether it's harder to get matched in-play on Racing with fast-moving prices or on Football with an 8 second delay?

If a bookie advertises something then it is ALWAYS bad value and a big income generator for them.

Just to make it clear its BETFAIR I'm talking about here , cash out was offered when the horse was slight odds against,  which I accepted , the offer changed rapidly getting better and better I accepted ALL offers of CASH OUT the horse went as low as 1.2. yet I STILL didn't recieve cash out , work that out...

Cash out is a con (if you can get it to work), but the 'acca edge' is about 100 times worse. They give you rubbish odds in the first place and then decrease it substantially more just so you can get a refund of stake if one part of the acca loses. Work that one out.

If one leg of the acca is void due to match being postponed they don't even give your stake back if you only lose one.

Wonky, you probably have to press buttons and not just shout at the computer.

Betfair's a right con. If you do a normal acca on the sportsbook they always round the accumulative odds down. What other bookmaker does that?

3 selections on the betfair sportsbook; 1/6, 2/9, 4/6. Treble odds given 2.37 when it should be 2.38 and if you acca edge it, it goes to 1.32.
So if you bet £10 instead of winning £13.80 you get £3.20.

@workrider

I'd guess that it (the cash out widget) is trying to put in lay bets at or just above the best lay price on offer*, but as you say the horse was constantly shortening so every time it failed as by the time the 1 sec in-play delay had expired the price wasn't available anymore?

* because that's all Exchange cashout does, it's apparent from My Bets/Account Statement

£3.20.

And this is all legit because the industry is so well regulated by the UK Gambling Commission.

What's acca edge give you? (apologies for naive question, I almost never bet with the books or do multiples)

Longbridge,it was from the back straight to just before the last fence that I tried to cash out , thats a LONG time in a race , and the offer was getting BETTER not worse ..

Just playing about on it now. TBF to this acca edge the percentage reduction isn't so bad if you pick bigger odds.

Workrider - thanks, I'm clearly not thinking straight this morning.  I wonder if the failed cashouts show up in My Bets as 'cancelled' or 'lapsed' so you can see what it was playing at?

I might have a go on this afternoon's racing and see.

No problem Longbridge..

of course its a con ,any half wit should realise its wont be in the punters benefit,if your cashing out on the last last leg of an acca why put it in in the first place

Told this story before, but it's worth repeating.
A lad in Selby had a 10 leg footy acca one saturday and come 4-35 was in the box seat in all positions. Checked his Cash-out and was offered around £600, which he took with glee (I think his original steak was a tenner, but don't quote me on that). Anyway, he was giving it the big 'un about being a shroooodie to anyone who would listen for all of about 15 mins, at which point the results were in and there had been no changes. He would've copped for £330K. Gas oven job.
Moral of the story, go for a walk and don't look.

Ladsthis is not about accas ,its about cashing out on a horse race , one horse one race, horse is hacking up only danger it appears is the fences .Price tumbling like mad I asked to cash out before the third last horse hits 1.2. no cash out, why ?

Desmond.

Not sure why Workrider but why cant you cash out yourself that way you set the odds and no one else to blame.
Cash out is like p!ssing in the wind and hoping not to get wet. But no doubt you are aware of that now.
Like most things on Betfair learning the hard/costly way is the most informative.

workrider    22 Jan 16 15:33 
Ladsthis is not about accas ,its about cashing out on a horse race , one horse one race, horse is hacking up only danger it appears is the fences .Price tumbling like mad I asked to cash out before the third last horse hits 1.2. no cash out, why ?

Just lay the thing ffs!

No offence.

Trade out yourself using BF, offer a price a bit bigger than it currently shows, to give yourself a little leeway in case the market moves against you during the time you're trying to do it...you need gruss with one click betting.

Trying to cash out as you're using it would be like running a race through quick sand.

I've noticed this on footy.

Layed a footy game 4.5 unders £30 @ 5s

Goal scored early but when betting settled later in game I could have bet £30 @ 5s to be quits:
OR
I could cash out but still lose £5.

You take your choice?

jeses....desmond

How was he giving it the big un, he couldn't have been much good at basic maths I guess.

why do a ten team acca if all u would like is 600

How did we ever manage before Cash Out?

the prob is..most want to cash out when the tide turns.

Jan 22, 2016 -- 3:48PM, Mikael D'Haguenet wrote:

workrider    22 Jan 16 15:33  Ladsthis is not about accas ,its about cashing out on a horse race , one horse one race, horse is hacking up only danger it appears is the fences .Price tumbling like mad I asked to cash out before the third last horse hits 1.2. no cash out, why ?Just lay the thing ffs! No offence.

This.

Yeh, you got to do it while you still think you're giving away money on a winning bet.

because of the inbuilt delay cash out during a race not really a viable option...i find it useful to use in test matches when there's not the same time pressures.

Acca Edge is also a CON.  William Hill and Ladbrokes offer you your money back if 1 leg of 5 fold loses - but you get the full price if all 5 win.  Not so with Betfair who basically pay out for a 4 and-a-little bit more-timer even if all 5 win!

Agree with OP, cashback is a major con.I have tried it,it fails every time,rubbish.

oneyallbeenwaiting4    21 Jan 16 18:42 
obviously, bookies earn every time cash out is hit

if someone has a £20 acca thats paying £2000 with 1 to go and you cash out for £1000 how do they earn?

What Duffy said, because of the delay you are not watching it 100% live and the odds are constantly changing .