When to cash out at a sports book

Mlink · Sep 29, 2010

Been sportsbetting for a year now and all last year during football and NCAA basketball i won a fairly good amount but never cashed out, i kept it into baseball season and once week 3 hit in baseball season my account was down to 0..

I deposited more week 1 this NFL year and now i am up a fairly good amount.. inserted 500 up to 1800 now as we speak. do you guys usually cash out half the amount or do you usually wait till the season is over and cash it all out at once?

what to do, opinions, thoughts?

Thanks :think2::think2::think2:

bigtendominator · Sep 29, 2010

Each person varies based on their needs and financial situation.

In your case, I would cash out $1000, and leave yourself $800, you started with $500, did a great job of moving up the ladder, so take out a profit and play with the $800 and continue doing what you did and in your case I would probably use $1500, a barometer. Every time you reach it, cash out $700 and start at $800 again.

Mlink · Sep 29, 2010

awesome sounds good, i was looking for something like that, sort of a goal/barometer type thing people used...

TomGshotput · Sep 29, 2010

The only possible correct answer is to cashout anytime you value doing something else with the money more than you value being able to make bets offshore with it

aceduecetrey · Sep 29, 2010

Wait a second, you are allowed to cash out from offshore books? I thought you were only allowed to send them money......

X-Files · Sep 29, 2010

I'd cash out either when:

1. i have too much in an offshore book, or

2. i need the money, or

3. i feel there are signs the book is in trouble, thieves, or shady, or

4. i think the entire industry is in danger, or

5. i have more in there than i need to make my normal bets which
have a consistent success rate over a long time

shdw01 · Sep 29, 2010

What i like to do with online books is start with $500, build it to $1500 and cash out $1000....repeat.

I'd be better off if i take $500 out and go from $1000-$1500.

It is good to have goals and to take some out when you reach the goals. But don't make bets just to reach those goals....i.e. you are at $1300 betting $50/game and shoot one time for $200 so you can cash out.

in your case, hell, cash out $1300....$500 was enough the first time......however, if you have been increasing your units (many people like this) then that is another story, i'd keep in there what is proportional to $500

kyballaholla · Sep 30, 2010

shdw01 said:
What i like to do with online books is start with $500, build it to $1500 and cash out $1000....repeat.

I'd be better off if i take $500 out and go from $1000-$1500.

It is good to have goals and to take some out when you reach the goals. But don't make bets just to reach those goals....i.e. you are at $1300 betting $50/game and shoot one time for $200 so you can cash out.

in your case, hell, cash out $1300....$500 was enough the first time......however, if you have been increasing your units (many people like this) then that is another story, i'd keep in there what is proportional to $500

agree 100% with this.

Kevy · Sep 30, 2010

I'm a big believer/supporter of taking pay outs on a regular basis and having goals, etc.

I feel that our time and work that we put into this should have a value/price/reward/Etc.

I think too often many players, especially the newbies, beginners, recreational,Etc treat
those dollar amounts in the available balance section like they are video game points and
not like real money.

I just feel there is a great psycology/mental aspect that is the key to doing this long term.

KillaRSox · Sep 30, 2010

Cash out 800, so your ahead on your initial investment. And Increase your bets by a half a unit.

mrcrash · Sep 30, 2010

I would cash out when I have enough to quit my job and retire. Nothing less.

GREENHEAD · Sep 30, 2010

Kevy said:
I'm a big believer/supporter of taking pay outs on a regular basis and having goals, etc.

I feel that our time and work that we put into this should have a value/price/reward/Etc.

I think too often many players, especially the newbies, beginners, recreational,Etc treat
those dollar amounts in the available balance section like they are video game points and
not like real money.

I just feel there is a great psycology/mental aspect that is the key to doing this long term.

Great response.
This poster is a winner,with the right attitude.

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