Your chances are still slim, but some bookies are kinder than others, and your specific situation and how you handle the interaction will also have a lot to do with the outcome. You might lose a small percentage of the stake but that is a small price to pay for a bet that you never wanted to take in the first place. Many of the more reputable bookies, such as bet, will offer you full stake cash out value if the odds have not changed.
Even if the odds have changed, you could decide it is more worthwhile to take back what money you can than to leave it in and potentially lose the lot. There is always the possibility that you could get a little bit more back too if the situation has changed and the odds have been altered in your favour. If you have tried everything else and cash out is not available on your bet, then, unfortunately, you just have to suck it up and take the hit.
See it as a learning opportunity. At least then some good will come out of it. Bookmaking is one of the most heavily regulated industries in the world. Bookmakers have to adhere to very strict regulations on every aspect of their business and it is no longer the shady underworld industry that it once had a reputation as being.
They are still businesses, however, and they need to run efficiently to make money. If their millions of customers were allowed to cancel bets willy nilly it would be impossible for them to run efficiently, especially if their staff had to deal with each instance — they would need scores of new staff to handle it.
Usually it is human error or a slip in judgement or a loss of control. There are countless opportunities there to spot your mistake and to have another think before you commit. Everything we have discussed thus far assumes the bettor was of sound mind when they made the bet and with no previous gambling problems. A bet is essentially a contract , you agree to pay a stake and they agree to pay you winnings if that scenario happens. Legally therefore you have agreed to the terms of the site when you joined and entered into a contract with them, even if you did not mean to.
Therefore, unfortunately, operators are within their rights to refuse to cancel a wager. In the vast majority of cases the Cash Out amount will be the same as your stake if you are trying to cash out immediately after placement. There are some things that will stop that from being the case, however. One of the most obvious is that the event has started before you attempt to Cash Out. It makes sense when you look at the possibilities.
The away team scores in the first 5 minutes of the game, therefore making the bet on the home side winning the first-half more unlikely. The offer you get for your Cash Out will be far lower than your original stake. Sometimes events are not eligible for the Cash Out function. This can be due to things such as the odds changing, the event starting or a suspension of the market. Even if you cannot get your whole stake back with cash-out you can at least get a proportion and something is better than nothing.
There are also cases when you place a bet and the odds then decrease meaning your cash out value can be higher than the stake, in this situation you may even get more than your stake back.
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