Cash-Out and the Behaviour of Bettors

By Dr Alasdair Brown

Any fan watching sport on commercial television cannot fail to notice the endless betting adverts. The latest feature promoted to punters by many bookmakers and betting exchanges is the `Cash-Out’ facility. This allows bettors to unwind their earlier bets as matches progress. Therefore, rather than wait until the end of the match to see if their favoured team wins, they can close out their position at a profit (or loss, depending on the state of play) while the match is still running. Prior to Cash-Out it was possible to close out winning and losing positions on Betfair, before matches ended, but the bettor would have had to manually calculate the required stake, and place a new offsetting bet; Cash-Out reduces this process to the press of a button. The actor Ray Winstone, in one advert, explains that `sometimes you’ve just got to take the money and run’.

Ray_Winstone_2014

Ray Winstone

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