The latest trend in sports betting is called Cash Out. This tool offered by betting operators allow bettors to secure their profits or minimize their losses before the referee’s final whistle. Yet, by Cashing Out, they are effectively making bookmakers richer.
Let’s see why.
First, explaining Cash Out is in order with an example in football betting. Say a football game is going in favor of a bettor. During live betting, they are able to take their profits earlier by using the Cash Out tool. Of course, they stand to make a bit less money than their initial reward, depending on the odds they decide to execute the order.
On the contrary, if their selected team is struggling and has already conceded a goal or two, the bettor can now minimize or keep their losses under control by Cashing Out. Again, the affected total risk amount depends on the available odds at that time and obviously, they cannot save their whole wager.
Say you bet 10 euros at 3.00 and in-play odds have now shortened to 2.00. Hurray! Cash Out offers you 15 euros (instead of 30) to get out and take your profit. No more feeling stressful each time your team is defending till the end. If on the other hand odds drifted to 5.00, Cash Out gives you 6 euros back to abandon the game before it’s really too late and lose 10 euros. By doing so, it “seems” you are saving 4 euros.
Sport bettors are easily tempted by Cash Out. Known for their impatience, gamblers want to take profits as soon as possible, while they are always scared of losing money. Both tendencies lead them to try Cash Out and probably get addicted to it.
So, where is the catch?