[Football] Cash out?

mrfrisk1990 · Feb 8, 2016

Back to about £500 at a guess, though it would also depend on the City/Spurs result.

If it's possible to cash out part of it, it would make sense to do it in proportion to the actual chance of them winning, which is still decent odds against. They are just under 5-2 on Betfair, about 28pc, so the 3.50/1.50 suggestion earlier is pretty close.

Biscuit · Feb 8, 2016

Hedge your bets.

Cash out, put £250 of the winnings back on them to win the league. Then you're up regardless of what happens and have the chance to win a decent wedge more.

Simster · Feb 8, 2016

8ace said:
No. I might lay a bit off though.

This is the correct answer. To turn that £1300 into £5000, you'd need odds of around 3/1 (3.84), yet you can currently lay Leicester at 3.45 on BF.

KingstonSeagull · Feb 8, 2016

I would wait a couple of weeks.

Nathan · Feb 8, 2016

Cash out at £1,300. This still works out at around odds of 259/1 for a £5 bet. If those odds were on offer at the start of the season (even though they are very tight) he still would have done the 'fun' bet. £1,300 win is a great return for a fun bet. Take the cash and enjoy the rest of the season.

Biscuit · Feb 8, 2016

8ace said:
No. I might lay a bit off though.

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

Bold Seagull · Feb 8, 2016

If they avoid defeat at Arsenal, that cash out amount is going to look a lot better.

c0lz · Feb 8, 2016

Cash out, even now its already a brilliant return on a five pound bet.

Hillian1 · Feb 8, 2016

8ace said:
No. I might lay a bit off though.

I've heard this before, what does "Lay off" actually mean?

Sorry for the stupid question, but when it comes to gambling I'm a moron.

Simster · Feb 8, 2016

Hillian1 said:
I've heard this before, what does "Lay off" actually mean?

Sorry for the stupid question, but when it comes to gambling I'm a moron.

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

Look at betfair.

sdmartin1 · Feb 8, 2016

Hillian1 said:
I've heard this before, what does "Lay off" actually mean?

Sorry for the stupid question, but when it comes to gambling I'm a moron.

You can lay bets on the betting exchanges, you are basically providing the money should a backers stake win however if it doesn't win you win the backers stake.

If you have sufficient money you should always lay bets like this (if you intend to 'cash out') as you get much better overall returns, the cash out option is generally aimed at lazy punters.

StonehamPark · Feb 8, 2016

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

Hillian1 said:
I've heard this before, what does "Lay off" actually mean?

Sorry for the stupid question, but when it comes to gambling I'm a moron.

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

Look at betfair.

In this case, betting that Leicester WON'T win the title (laying = opposite of backing).

Ernest · Feb 8, 2016

Trouble is that nobody including this punter believe that Leicester can do it, this is why we all think you have to cash out

Brownstuff · Feb 8, 2016

Postman Pat said:
Cash out about 3.50 of the original stake, should be about a grand, and keep 1.50 in there, if they win the league still pick up another £1500, if not the wedding etc.. is paid for.

If Leicester get beat by Arsenal at the weekend, and spurs continue their form by beating City, the cash out value will fall a fair bit I would guess.

Partial cash out is the way to go as above
Personally I would cash out for about £500 and let the rest ride

8ace · Feb 8, 2016

Simster said:
This is the correct answer. To turn that £1300 into £5000, you'd need odds of around 3/1 (3.84), yet you can currently lay Leicester at 3.45 on BF.

They are always granite with their cash-out offers.
They were matched as short as 7/4 just after beat Citeh.

8ace · Feb 8, 2016

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

Hillian1 said:
I've heard this before, what does "Lay off" actually mean?

Sorry for the stupid question, but when it comes to gambling I'm a moron.

If I LAY £50 at 3.5 that will match the BACKER'S £20.
Leicester win the league I lose £50, they don't win the league I win £20, so:
Leicester win: £4950 profit
Leicester don't win: £20 profit

Simster · Feb 8, 2016

8ace said:
They are always granite with their cash-out offers.
They were matched as short as 7/4 just after beat Citeh.

Yes, only really worth cashing out if you're in-play and don't have time to work out a lay off strategy I guess.

Giraffe · Feb 8, 2016

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.

On a side point it really highlights how well the bookies do out of this cash out thing. If people are heading towards a possible win they will very often bottle it, and the bookies therefore less often suffer a big pay out.

8ace · Feb 8, 2016

Simster said:
Yes, only really worth cashing out if you're in-play and don't have time to work out a lay off strategy I guess.

Yep, or if you have an acca on 3.00pm k.o if multiples are your thing.
If you have a betfair market with plenty of liquidity that's 101.6% / 98.7% then that is where you want to play.
If you have backed it on Betfair in the first place then you can use their cash out of course.

CorgiRegisteredFriend · Feb 8, 2016

Wait a couple more matches and see what happens.

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