Cashing out on multis

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Red Dog Styles

All Australian
Feb 13, 2017
855
484
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Why does anyone ever cash out with one leg to go on a multi. Surely if you are going to cash out at that point the smarter option would be to not put that leg on in the first place?
Fairly broad statement.

'Surely'....different circumstances have different options?
'Surely'....if you are going to cash out then in-game that is the 'smarter' option.

Whats your example?

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EDFL follower

All Australian
Apr 16, 2007
946
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Warragul
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example if someone backed Richmond and GWS in a multi and then cashed out before the second game why not just back Richmond straight out? There is no point putting the last leg in if you are going to cash out before it plays out anyway. All you are doing is costing yourself money.

Cashing out in the run is slightly different I guess but as a rule I dont agree with cashing out full stop.
 

juss

Brownlow Medallist
Feb 23, 2009
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I generally won't cash out, but I might place some insurance with a hedge. Also it really depends how much I stand to win/lose from the first multi.

If I placed $5 on a 10-1 with one leg remaining, screw it I'll just let it ride to lose $5 or win $50 and won't bother hedging. But If the difference between letting it ride is insignificant for a big amount, then I'll cash out. Say for some reason the cash out is $4500 and the win is $4800, I'd cash out, not worth the risk in riding it.

If we are talking the last leg of a massive multi where I will pocket 20k from an initial $200 investment, I'd probably hedge based on how confident I am in the last leg. So I might not cash out, but I'll hedge so that from my initial investment I'll either win say 17k or 3k or something like that. You have to play around with the odds on offer to see what works best.
 

EDFL follower

All Australian
Apr 16, 2007
946
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Warragul
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I generally won't cash out, but I might place some insurance with a hedge. Also it really depends how much I stand to win/lose from the first multi.

If I placed $5 on a 10-1 with one leg remaining, screw it I'll just let it ride to lose $5 or win $50 and won't bother hedging. But If the difference between letting it ride is insignificant for a big amount, then I'll cash out. Say for some reason the cash out is $4500 and the win is $4800, I'd cash out, not worth the risk in riding it.

If we are talking the last leg of a massive multi where I will pocket 20k from an initial $200 investment, I'd probably hedge based on how confident I am in the last leg. So I might not cash out, but I'll hedge so that from my initial investment I'll either win say 17k or 3k or something like that. You have to play around with the odds on offer to see what works best.
This is the point I am trying to make. If you know you are going to cash out as in your example why put the last leg on on in the first place. Just collect your winnings after the second last let gets up and then place a seperate bet on the last leg. Every time you cash out you are just giving money away!
 

NonPhixion

Outlaw Immortalz
Mar 27, 2018
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This is the point I am trying to make. If you know you are going to cash out as in your example why put the last leg on on in the first place. Just collect your winnings after the second last let gets up and then place a seperate bet on the last leg. Every time you cash out you are just giving money away!
I do agree for the most part, cashing out is usually a bad mathematical decision, especially with multi bets. However I think there are occasions where it is the best option where you derive the most value. Eg. Long-term futures bets. The best recent example I can give is Tom Papley being $101 to poll the most Brownlow votes for Sydney early in the season. As the season progressed you could get a really nice cash-out for ROI, when it became evident that he probably wasn’t going to win it. In this case, Parker from memory was around $1.80 & a couple players a little shorter odds than Papley, so a hedge didn’t really make sense.
 

kickazz

Norm Smith Medallist
Apr 12, 2010
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Cashing out (or the better value option of arbing, etc) is really only acceptable under two circumstances I recon:

1. You genuinely feel that the price you'll get for the last leg is unders.

2. Somehow the combinations that got up are going to deliver you an amount of money so big it will change your life. Even here, an intelligent hedge is probably better than a complete cash out.
 

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