Cashout correct or not?

[hammers1970]

Hi

Is it me or would this cashout offer be correct. I’ll give you as much information as I can:

5 football match acca

Leg 1 - won @ 4/7

Leg 2 - won @ 1/10

Leg 3 - won @ 3/4

Leg 4 - won @ 3/20

Leg 5 - I backed an away win at 5/4, after leg 4 of my acca come in, there was still 25 mins to play, the score was 1-1, the team that I backed were down to 10 men, playing against a team that were 2nd from bottom, with just 2 wins, 3 draws and 12 loses.

The match prices with 25mins to go were:

Home Win - 6/4 from 5/2

Away Win - 5/2 from 5/4

Draw - 13/10 from 13/5

Stake £10 @ 6.83/1

Returns £78.30

Cashout offer after leg 4 had come in was £6.70

I know we’re not talking big money, but I just wanted to know if I’m right and the cashout offer is ridiculously low or the cashout offer is correct.

 

 

[MCLARKE]

Not sure how they calculate it but it is very rarely good value. Better to let the bet run.

[hammers1970]

Hi, I did let it ride and the game ended 1-1. I know cashouts can be a bit low, but that cashout offer just seemed ridiculously low.

[harry_rag]

25 minutes ago, hammers1970 said:

Hi, I did let it ride and the game ended 1-1. I know cashouts can be a bit low, but that cashout offer just seemed ridiculously low.

Could be wrong (just been stabbing away at a calculator with one eye on the TV) but doesn’t seem that bad to me. Work out how much profit you could lock in by laying your selection at, say, 3.6 and allowing for commission. I don’t think you could beat the offer by that much.

That said, all cash out offers are “correct” (barring a system error) in that the bookies can offer you whatever they like. In most cases they’ll probably charge you a little bit more for the privilege than you could get by laying off on the exchange, unless their liabilities dictate that they make a genuinely generous offer. 

[hammers1970]

Thank you harry_rag, I suppose that makes a bit more sense, especially where you said that bookies are always correct, I learned my lesson with that one years ago, when I proved that an online casino was falsifying my numbers in a 24 hour tournament, only for them to delete my account🤷‍♂️🤷‍♂️🤷‍♂️😂😂. Anyway going back to my bet, just thought the cashout would of been at least more than my stake. Once again thank you.

[harry_rag]

12 hours ago, hammers1970 said:

Anyway going back to my bet, just thought the cashout would of been at least more than my stake.

Just worked it out based on you laying off on the exchange at 3.7 with 2% commission (probably the best you'd have been able to lay at if you were quick enough while the bookies were going 5/2). I make it you could have locked in a profit of £10.85.

I guess that gives you an idea of the sort of premium the bookies charge you for the convenience of cashout (you don't have to shop around for the best price to close out at or do the maths regarding required stake). On the exchange the market will be close to 100% and you just pay 2% commission if your lay wins, while the bookies market is more like 112%. Even looking at the AH lines or DC price for the home team might have given you a better option than the cashout but you'd have had to do the maths yourself in a hurry, with the prices moving all the time. You either have a calculator ready to quickly work out your required lay or you accept this is what you pay for the convenience of cashout I guess.