The cash out feature is a modern phenomenon amongst bookmakers and it can have disastrous consequences if you are sucked into using it prematurely. However, saying that, it can provide you with an excellent feeling if you cash out a bet for profit which later goes on to lose, so in reality, it is swings and roundabouts. For those who don’t know, the cash out option allows users to settle their bet before an event is over by taking a return that could exceed or be less than the initial stake, depending on how successful the bet is at the time.
Long gone are the days when the only option you had was to take a trip to your local bookie to grab a physical betslip, we now place our bets with the touch of a button on our phones and begin gambling within seconds. This certainly makes our lives easier but both methods of placing a bet have their pros and cons. Now that cash out is a huge part of betting, it gives us an extra decision to make regarding our bets. As our accumulator’s succeed and the selections win one by one, the cash out offer goes up and up. Do we take our profit and run, or do we hold out to see if our acca is a winner and hopefully take home the full returns? Some punters have been sucked into cashing out bets early that would have gone on to provide hefty returns and it’s oh so painful to see. Sit yourself down as I am about to guide you through some of the worst cash out decisions in the history of sports betting:
Back in 2016, Leicester City made history and shocked the football world as they became Premier League champions under Claudio Ranieri after starting the season as incredible 5000/1 underdogs. I think every football fan in the country was happy for Leicester, excluding Tottenham supporters of course, as well as one individual who must’ve been an extremely angry Ladbrokes customer…
The unnamed punter made what some labelled the “Worst cash out decision in history” as they placed 50p on the Foxes to win the Premier League but were tempted into taking a 45p return after just one game. Yes, you read that right. They took what was actually a 5p loss on a bet that would have returned a not too shabby £2,500 had they let it run. Ladbrokes kindly offered the customer a pair of free tickets and a free bet on the following season’s title winner, so it’s not all doom and gloom eh?
Curtis Linney (@CurtisLinney) experienced living hell in April 2017 as he cashed out not one, but two winning accumulators early, and they would both have gone on to return four figures.
The first was an 11-fold acca which he had staked £3 on at a ridiculous 1502.57/1, but he opted to cash out for just £3.13, missing out on a tasty £4,500 return. And if that wasn’t enough, Curtis also cashed out a 500/1 ten-fold which was also winner. He had a couple of quid staked and took a cash out offer of £1.30. Just why?
Mike Newman on Twitter (@MikeNewman5) had a horror show back in January as he cashed out a £5 bet which would have returned a staggering and eye-watering £292,000.
It’s hard to criticise his decision making in fairness as he cashed out early for £5,710.25. I mean, who wouldn’t be tempted by that amount of money? It must’ve been excruciating for Mike to sit back and watch his seven-fold (Worth more than a quarter of a million pound) romp home as selections during an FA Cup weekend such as Barnet to beat Sheffield United at 11/1 and Oldham to beat Fulham at 7/1 all came in.
Luckily for Mike, he isn’t the bearer of the worst cash out in my opinion. Step forward Gary Walter from Birmingham who has secured that accolade…
Gary placed £10 on his accumulator with Bet365 and things were going swimmingly as his first few selections came in. There were 13 selections in total and the bet would have returned £49,435.34, however it was cashed out prematurely for just a mere £7 by his young son, Archie. According to Gary, the bet was cashed out as he left his phone unattended on his son’s lap whilst strapping him into his car seat, therefore he was unable to prevent the disaster from happening. It certainly is a stomach-churning tale, and one that you wouldn’t wish on anyone.
Imagine the feeling of missing out on virtually a 50 grand pay-out which is life-changing money in the short term and ending up with seven quid which wouldn’t even get you a couple of pints at a lot of places in 2019. Sickening.
It’s hard to give advice around cashing out bets, as everyone has their own criteria I suppose. Most people stick to the unwritten rule in the betting community which is to never cash out for less than you have staked. With that in mind. Please, please… Never cash out for £1.30.