americanfox Posted 8 February 2016 Share Posted 8 February 2016 This is a genuine question. I appreciate that this is going to be my decision but this is starting to eat me up a little and would love some opinions. In October I put £5 on Leicester to win the league at 1000/1. It was a bit of fun, speculative, I don't know what it was. Now, many of you will know me from this forum and will know that I am a genuine fan and my primary concern is the writing of history by Leicester. I want them to win the league for that alone, but this bet is another thing. I get married in June, and we do not have a lot of money. Things are tight. I could pay-off my credit card. I could buy my family and friends a drink at the wedding. The cash-out option is currently at £1300. That, to me, is an awful lot of money. And it is mine at the click of a button. I know it was a speculative and 'fun' bet that I never really expected to win, but that money is real. Before the game at the weekend it was £500 - that is also a lot of money but this is starting to get real and it is starting to feel irresponsible not to take it. I really want to let it ride but.... Thoughts? If money is tight and you really could use the winnings, cash out. Since I'm a plastic, however, and have $10 at 1000-1, I'm actually "hedging" my bet by placing a few more bets on both us to stay top 4 and other title contenders to win the title. Link to comment Share on other sites More sharing options...
Renart Posted 8 February 2016 Author Share Posted 8 February 2016 What does the lucky lady/gent think? As a part beneficiary, I'm sure they have an opinion. I would be tempted to wait until after the Arsenal, on the basis that it will still be worth £500 if we lose. She thinks that ultimately I should cash it out but is not sure if now is the right time. I think that if the money went over 2k she would lean on me to take it - and I think she would be right. I also think that she thinks that we have no real experience of what we should do in this situation. She wants me to talk to my dad - he is a cautious man. I should add that the current cash out is not more than my current debts - it would however help a lot. The full amount, if it was to happen, would really set us up nicely in newly-wed life. From someone who has gotten into trouble both financially and with family from gambling I would recommend you cash out. You should not think of it as well if it loses I only lost a fiver as that is not true, when you placed the £5 you invested it and all though it was just fun it was still an investment. That investment has now grown dramatically and it is no longer a £5 stake. You now have a bet of £1300 on us to win the league at odds of 31/10. So you have to ask yourself if you hadn't placed the bet in the first place would you bet £1300 at 31/10 on us to win? If the answer is no cash out! It's real money! Thank you. I really appreciate it. Link to comment Share on other sites More sharing options...
Renart Posted 8 February 2016 Author Share Posted 8 February 2016 Cash out and enjoy the rest of the season. This is a really good point. At present the money thing is meaning that a lot more is riding on results. I am not sure I am cut out for gambling. Link to comment Share on other sites More sharing options...
Larry_LCFC Posted 8 February 2016 Share Posted 8 February 2016 Look at our form and our run of games. Arsenal is a bit uncertain but we have some very winnable games after that. I'd stick with it 100% maybe not until the end but certainly until it looked like we may drop off. Link to comment Share on other sites More sharing options...
Hollism Posted 8 February 2016 Share Posted 8 February 2016 Agree with not looking at it to be "only a fiver". You now own a piece of paper that's worth about £1,800. If it were me, and I were in debt and about to get married, I'd cash out. Your choice of course mate. Good luck whatever you do, and married life! Link to comment Share on other sites More sharing options...
Trelleh Posted 8 February 2016 Share Posted 8 February 2016 Its all about your priorities mate. Put it this way, you are £1300 better off than the beginning of the season. If I were in your shoes, my first thoughts would be to pay off any debts. It's highly unlikely you will get the chance to be in this kind of position anytime soon, walk away while you're still up. Link to comment Share on other sites More sharing options...
gw_leics772 Posted 8 February 2016 Share Posted 8 February 2016 I'm a geek, so had a look at current odds, assuming one of top 4 win, if you cashed out and put 25% on each of top 4 at best odds,(9/4 x 2, 7/2 & 5/1) you would et minimum of £1,056.25 and max of £1,950) from any of the top 4 winning it. Puts into perspective that you've already guaranteed 1k. I would hang on a while but keep checking. Can send you a simple spreadsheet to work this out if you decided to chance it a while longer. Cash out is a killer. Chances are you will always make the wrong decision in the end so make a decision and try to have no regrets. Well done either way Link to comment Share on other sites More sharing options...
CantonaFootballPoet Posted 8 February 2016 Share Posted 8 February 2016 you're dying to cash out - if arsenal beat u next week you're 2 points ahead with 12 to go, and one of those is against United, so plenty of time for the wheels to come off. Link to comment Share on other sites More sharing options...
FireFox Posted 8 February 2016 Share Posted 8 February 2016 However, I suppose I have until Saturday to make this decision as the payout is unlikely to change between now and then.Unless we get an injury. I'd make a decision before Friday. I'd base that decision off of if you think we will win our next game/Do you think Spurs will beat Man City. Link to comment Share on other sites More sharing options...
Swiper Posted 8 February 2016 Share Posted 8 February 2016 If you can cash out knowing that you won't be overly regretful or bitter if Leicester were to win the title and you didn't stay in, then you should probably cash out. You said yourself that you were not a gambler, so I get the feeling that you could probably do this. By the same token, I don't know that anyone could blame you if you were to roll the dice and let it ride, at least for a little while longer. Link to comment Share on other sites More sharing options...
harryclark97 Posted 8 February 2016 Share Posted 8 February 2016 On current form I would say to stay in, but it's hard to comment when its someone elses money. The fact you have come on here to ask for advice makes me lean towards cashing out because if you aren't 100% confident then it's not worth staying in and risking it. Link to comment Share on other sites More sharing options...
WesMorganGod Posted 8 February 2016 Share Posted 8 February 2016 Don't cash out. just wait until may!!!! we will take the title, nothing can stop the journey now. Don't cash out or you will regret it badly. Link to comment Share on other sites More sharing options...
ithuriel Posted 8 February 2016 Share Posted 8 February 2016 A bird in the hand is worth two in the bush. Take the cash and enjoy the ride Link to comment Share on other sites More sharing options...
The Year Of The Fox Posted 8 February 2016 Share Posted 8 February 2016 Cashing Out seemed like such a good novel idea when it came about, when really it's just a head fcuk. Personally I'd be taking the money and running. Link to comment Share on other sites More sharing options...
Col city fan Posted 8 February 2016 Share Posted 8 February 2016 Whatever you do mate, accept your decision. Don't cash out now, then beat yourself up if we go on to keep winning. Conversely, if you let it ride, then lose some of it, don't cry about it. Decide what to do, then accept you've made your decision. For as many cash outs I do and benefit from, there are those I don't. Personally, 1300 from a fiver is dreamland stuff anyway. Good luck bud. Link to comment Share on other sites More sharing options...
J.Lisemore Posted 8 February 2016 Share Posted 8 February 2016 I'd cash out. 1300 from a fiver is just magic, the 5k is a massive sum but I wouldn't take that chance myself. Link to comment Share on other sites More sharing options...
CosbehFox Posted 8 February 2016 Share Posted 8 February 2016 You could cash out now and City win the league, you'd still have the same joy as having the money and City winning the league. There's four outcomes here, so think of your reaction to all four. Cash out now, City win. Leave it, City win. Cash out now, City lose Leave it, City lose. Link to comment Share on other sites More sharing options...
Col city fan Posted 8 February 2016 Share Posted 8 February 2016 On this subject, did ANYONE on here place a bet on us to win the league at 5000/1 and if so, what is your cash out value at present? Do tell if you did, I'd be fascinated to know. Link to comment Share on other sites More sharing options...
ithuriel Posted 8 February 2016 Share Posted 8 February 2016 In regards to betting I'm a jinx so I do not bet anymore apart from doing the lottery. No way I'd bet on City to win things. Link to comment Share on other sites More sharing options...
Number 6 Posted 8 February 2016 Share Posted 8 February 2016 Everytime you bet you lose 10% to the market. For that reason, you should generally not cash out. Here though, big sums and also could be large swing next week. I'd probably wait it out but part cash out is a good shout. Alternatively, sell half to a friend, sell us on a spreadbet, or just bet us not winning each week. Link to comment Share on other sites More sharing options...
wattolcfc Posted 8 February 2016 Share Posted 8 February 2016 Personally I would cash out and clear my debts, look at it like this: Cash out & City win the league - You're up over a grand and delighted City win the title Cash out & City don't win the league - You're up over a grand and you're relived you did cash out Dont cash out & City win the league - You're double delighted as you've won an extra £1000 Don't cash out & City don't win the league - Youre devastated, you've lost £1300 and City fell short Looking at that, it's a no brainier for me, if City won the league I'd be delighted no matter how much money I won so it would be more of a risk losing out on any money at all. Imagine if you don't cash out and we finish second... You'd never live with yourself. Link to comment Share on other sites More sharing options...
Ric Flair Posted 8 February 2016 Share Posted 8 February 2016 That will go down to about £700 if we lose to Arsenal. It's a tough one but I'd cash out and regret not holding out when we win it rather than regret not cashing out if we lose it. Link to comment Share on other sites More sharing options...
truebluethroughandthrough Posted 8 February 2016 Share Posted 8 February 2016 On this subject, did ANYONE on here place a bet on us to win the league at 5000/1 and if so, what is your cash out value at present? Do tell if you did, I'd be fascinated to know. I had £1.25 e.w on November 1st. At 1500-1. On sky Bet. Pays 2346£ if first. About £400 if 2nd. Unfortunately (or fortunately!!) cashout isn't being offered on it, don't know why. Link to comment Share on other sites More sharing options...
HighPeakFox Posted 8 February 2016 Share Posted 8 February 2016 I don't feel qualified to say - I suppose I would ask you how much difference it would make to you (in the grand scheme of things) if you were paid a bonus £1,300 by work this week. Link to comment Share on other sites More sharing options...
Domsdad Posted 8 February 2016 Share Posted 8 February 2016 On this subject, did ANYONE on here place a bet on us to win the league at 5000/1 and if so, what is your cash out value at present? Do tell if you did, I'd be fascinated to know. Col, I didn't but my best mate did. He had £5 ew. He has sent me a screen shot of his cash out- £6,008.46. That is verses a potential return of £16,676.67- now there is a decision to be made! Link to comment Share on other sites More sharing options...
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