When to cash out?

asianfootballs · 09-30-11, 04:38 PM

I usually have a number. You want to hit that amount and still have money to play with. I cash 10x with 3x or more in the account to keep playing. You don't want to get to high where the sportsbook doesn't want to pay you. I had had $3700 in my account off of a $200 deposit. Cashed $2000 and playing with the rest. If you make money you are successful. A lot of people don't because they get greedy.

That Foreign Guy · 10-01-11, 09:26 AM

When my balance covers all the bets am likely to I want to make at that book for two game days.

durito · 10-01-11, 10:14 AM

when you have no other choice

capitalist pig · 10-01-11, 11:05 AM

I always cash out my most recent deposit when its doubled, at least that way Im playng on house money for awhile, and if I get lucky and double it again I will cash it out again. Heck this is just fun and giggle money to me, so it makes me feel better to get some back throughout the year, JMO.

later

KJ CottonChopper · 10-01-11, 12:41 PM

The sooner the better. Don't do like me and have a great run, and then get greedy and play to many or to much and give it all back.
Good luck with whatever you do!

d2bets · 10-01-11, 02:27 PM

Cash out when you no longer have an edge. If you have an edge then keep playing. If you really need the money, then take what you need, otherwise don't.

ThaWoj · 10-01-11, 03:25 PM

when in doubt, cash out jsmith

believe me........

mrmarket · 10-01-11, 04:06 PM

Originally posted by jsmithj88

at this point i have 8X my bank roll from the start of the football season
what do u guys normally do?
keep rolling along,cash out a chunk, cash it all and start over????

It depends on a number of factors really. The most important one being whether you have a quantifiable edge or are simply an amateur. You have to be absolutely honest with yourself.

If you're simply a recreational player then cash out if losing the amount in the account will noticeably affect your financial/mental affairs. This is really person dependent though. If you've had experience in the past redepositing/chasing cash out the whole amount now. For some people a $700 balance after suffering a $50 loss may turn into a -$2,400 balance. Alternatively if you are a fairly stable punter cash out 80-90% of the balance leaving what's left in the account. Amateurs will not win going forward but as long as you keep a stable bet size proportional to what you have left on hand, what you've won previously due to variance will last you a few seasons worth of entertainment expenses. Deposit in account as needed when you go bust.

Originally posted by capitalist pig

I always cash out my most recent deposit when its doubled, at least that way Im playng on house money for awhile, and if I get lucky and double it again I will cash it out again. Heck this is just fun and giggle money to me, so it makes me feel better to get some back throughout the year, JMO.

later

This works fine for 99% of people. You can run into problems with it though because it's mental accounting which can alter what would be proper decision making. Money is just money so it's technically better to think about it as one big pot. There are side benefits to mental accounting though mostly stemming degenerate urges/for small timers or people who are risk adverse. I know I'm guilty of it especially due to being risk adverse.

Originally posted by d2bets

Cash out when you no longer have an edge. If you have an edge then keep playing. If you really need the money, then take what you need, otherwise don't.

This mostly. You can run into problems if you win too much because even if you have an edge it doesn't necessarily mean you're going to get your money. You have to consider risk of nonpayment/slowpay/book default into equation too.