If William Shakespeare were alive today, he’d probably look at this post and write: “To cash out or not? That is the question.”
One bettor is asking himself that question and will likely continue doing so in the coming weeks.
All that stands in the way one one better turning a $40 four-leg parlay into a roughly $97,100 payday is the Cowboys winning the Super Bowl.
This bettor placed the bet when the Cowboys (2-1) had +1400 odds to win it all, and they are now at +1000.
That $40 four-leg parlay is now worth $4,917.50, according to the FanDuel Sportsbook cash-out option.
The first three legs featured Viktor Hovland winning the FedEx Cup at +2200 odds, the Brewers winning the NL Central at -165 odds and the Spain women’s soccer team winning the World Cup at +320 odds.
What would you do?
At the Cowboys’ current odds, the bettor has a 9.1 percent chance of hitting this bet.
That probably isn’t a fair enough number to cash out the bet, though, as a $4,917.50 bet at +1000 odds would profit the bettor $49,175.00.
FanDuel is limiting this bettor’s potential by nearly $50,000 to cash this bettor out and pay them their five dimes.
The true value, if there was no fee being taken by the sportsbook, would be $9,709.45.
But sportsbooks are always going to charge a fee when offering cash outs, which is why you should avoid doing them whenever possible.
Instead, this bettor could be looking for a sportsbook that offers “no” on a Cowboys to win the Super Bowl market.
Betting on the NFL?
This is particularly hard to find and might require a trip to Las Vegas at a Circa Sportsbook in order to do so, and those odds are likely to be too high to really consider and would require access to nearly six figures of capital.
The cash-out option is never ideal, but perhaps this bettor would rather grab the $4,900 now rather than sweat it out the entire postseason.
However, the Cowboys are currently -400 to make the playoffs on BetMGM, so they could opt to play the matchups and hedge accordingly once the playoffs roll around in January.