If a bookmaker tries to encourage you to do something, it is generally in your best interests not to do that thing.
The bookmakers main goal is to extract as much money from the people who bet with them as they can, so the above is generally a good rule to go by.
Their are of course exceptions to the rule such as various offers and promotions they sometimes run that we can take advantage of and sometimes even lock in a risk free profit.
But the only reason they ever run these promotions or offers is because they know a certain percentage of people who use the offers will continue betting after the offer is finished and therefore lose any money they might have won with the offer and then some more.
If there is not a clear advantage to the player that can be mathematically measured, whatever the bookmaker is encouraging you to do will likely be poor value and will lose you money.
I’m talking about the odds you might see advertised on the TV, the bets advertised in bookmaker shop windows and the cash out feature which most major bookmakers are now offering.
All of these are generally poor value.
Especially cash out.
Cash out is advertised as a feature that allows the bettor to cash out their bet at any time for a fraction of the total amount they would receive if the bet won.
How much you can win from a cash out will depend on what the current odds are on the selection when you cash out.
If the game is going your way, you should be able to cash out for a small profit, however, if things aren’t going your way, you’ll only be able to cash out for a loss that is less than your total stake.
So far, it sounds fair enough.
But what I haven’t mentioned yet is how poor value the cash out price offered usually is.
The most simple example of this can be seen as soon as you place a bet.
Say you decided to place a bet for £100.
If you were to look at how much you could cash that bet out for as soon as you had placed it you will likely see a value of £90.
That’s a 10% loss in value and the odds haven’t even changed!
And when the odds do start changing and your bet goes in play, the cash out price available will still remain around 10% under whatever the true going rate is.
You are going to be far better off in the long run by not cashing out your bets as any profit you make or losses you reduce as a result of cashing out will be wiped out by that nasty -10% value in the long run.
And if you absolutely must cash out your bet, check and see if you can get more money by laying your original bet off on the betfair exchange instead.
You can use a matched betting calculator on qualifier mode to work out your lay stake quickly. – http://winnersodds.com/matched-betting-calculator-qualifier-bet/
If you want to find out how you can take advantage of those bookmaker offers that I mentioned earlier in a way in which you can lock in a risk free profit, you can find out more here:
Until next time,