DraftKings Cashout Feature change

[FlushorBust7]

Has anyone noticed a big change in the cashout options at DraftKings recently? I noticed roughly a month ago there were definitely changes to the feature. They used to take roughly a 10% vig on the fair value of the cashout and now I’ve noticed it gone up to closer to 60% vig.

IE if I made a $1000 wager and line did not move at all, used to be offered around $900 on my cashout.

Now if I make a $1000 wager and there’s no line movement I’m being offered around $400 for the cashout.

has anyone else noticed this big change (started around a month ago maybe)? I am big into live betting and parlays playing swings in market. I used that cashout option often to play swings and take big quick profits. Now the feature is essentially unusable for me. As an example I had a parlay finishing on North Carolina (football against nc state) payout for $1000 last week. UNC was up 9 with 2 minutes left and the live line was -5000, yet my cashout offer was only $480….

Is this happening to anyone else or was my account targeted specifically for how I was wagering (and doing pretty well)?

[d2bets]

Cashouts are always a ripoff unless it's full value. Although the one nice feature on DK is that they do give full cashout (pregame) when the line is the same as your bet. But as soon as it moves against you, even a little, the cashout offer is horrible.

If you need to hedge, better to look around for the best price on the other side and just hedge instead of cashing out. Just about always going to be better. But don't even try this unless you have access to a wide variety of outs. With the extra juice and extreme variety, live betting only good when you can shop around quickly.

[TheMetsSuck]

Legal Books sound lovely

[d2bets]

Legal Books sound lovely

Actually, it is. Do the offshores offer cashouts at all? Been a minute since I used offshores so pardon my ignorance. They didn't back in the day. Additional options are always good. The full cashout on no line change at DK is actually damn awesome.

[BeatTheJerk]

Actually, it is. Do the offshores offer cashouts at all? Been a minute since I used offshores so pardon my ignorance. They didn't back in the day. Additional options are always good. The full cashout on no line change at DK is actually damn awesome.

Are the legal books sending you tax forms at the end of the year for your profits ?

[thomorino]

Has anyone noticed a big change in the cashout options at DraftKings recently? I noticed roughly a month ago there were definitely changes to the feature. They used to take roughly a 10% vig on the fair value of the cashout and now I’ve noticed it gone up to closer to 60% vig.

IE if I made a $1000 wager and line did not move at all, used to be offered around $900 on my cashout.

Now if I make a $1000 wager and there’s no line movement I’m being offered around $400 for the cashout.

has anyone else noticed this big change (started around a month ago maybe)? I am big into live betting and parlays playing swings in market. I used that cashout option often to play swings and take big quick profits. Now the feature is essentially unusable for me. As an example I had a parlay finishing on North Carolina (football against nc state) payout for $1000 last week. UNC was up 9 with 2 minutes left and the live line was -5000, yet my cashout offer was only $480….

Is this happening to anyone else or was my account targeted specifically for how I was wagering (and doing pretty well)?

That's Not true, you can cash out of many bets at one hundr d cents on the dollar if the lone hasn't moved. If there is a 60 percent change in what the book is offering for the cash out feature than the line or the vig, or both, moved.

[thomorino]

Has anyone noticed a big change in the cashout options at DraftKings recently? I noticed roughly a month ago there were definitely changes to the feature. They used to take roughly a 10% vig on the fair value of the cashout and now I’ve noticed it gone up to closer to 60% vig.

IE if I made a $1000 wager and line did not move at all, used to be offered around $900 on my cashout.

Now if I make a $1000 wager and there’s no line movement I’m being offered around $400 for the cashout.

has anyone else noticed this big change (started around a month ago maybe)? I am big into live betting and parlays playing swings in market. I used that cashout option often to play swings and take big quick profits. Now the feature is essentially unusable for me. As an example I had a parlay finishing on North Carolina (football against nc state) payout for $1000 last week. UNC was up 9 with 2 minutes left and the live line was -5000, yet my cashout offer was only $480….

Is this happening to anyone else or was my account targeted specifically for how I was wagering (and doing pretty well)?

Ot doesn't matter if there is line movent if the vig moves significantly that will obviously effect the payout.

[capitalist pig]

Are the legal books sending you tax forms at the end of the year for your profits ?

I’m trying to figure that out on the Fl Hard Rock app, do you know how it works, is like stock trades where I have to itemize individual trades? If it’s going to be like stock trades then it’s definitely not worth the time and effort if your wagering daily or even weekly imo

Even using offshore now ,using Coinbase, PayPal, Venmo, and most of the btc exchanges your going to get a 1099 on btc trades it seems like

[newton0038]

Ontario Proline+ skims off roughly 40 to 60% immediately off the cashout value after you push the accept bet button. Nothing needs to change at that shitshop. $100 bet will instantly become $45 cashout. No confirmation on the cashout either. I hit it by mistake after making a bet. Customer service told me to go fuk a landmine. Wouldn't reinstate the bet. They go my $100. Never again

[magpie878]

I hadn't used the cashout feature in a long time, would just hedge the bet in most cases.

However, in random checks the past few weeks, with live games, I almost ALWAYS see "cashout suspended" and don't even see the actual choice to cash out, it's always grayed. Again, more recently.

[thomorino]

I hadn't used the cashout feature in a long time, would just hedge the bet in most cases.

However, in random checks the past few weeks, with live games, I almost ALWAYS see "cashout suspended" and don't even see the actual choice to cash out, it's always grayed. Again, more recently.

That's only when games are in action

What the original poster doesn't understand is that if the vig moves the cash out number offered will move to even if the line did not.

[FlushorBust7]

No think you are misunderstanding what I’m saying.

the line and vig could be the exact same example -4 (-110) and I’m being offered roughly 40% of fair value for the cash out(that’s why I mentioned vig 60%).

this only started rather recently, I previously would see about 90% of fair value for wager on the cashout amount, now it is unreasonably low and I’m being told it is “working as intended”, so either the cashout value they offered significantly went down or my account is being targeted

[thomorino]

No think you are misunderstanding what I’m saying.

the line and vig could be the exact same example -4 (-110) and I’m being offered roughly 40% of fair value for the cash out(that’s why I mentioned vig 60%).

this only started rather recently, I previously would see about 90% of fair value for wager on the cashout amount, now it is unreasonably low and I’m being told it is “working as intended”, so either the cashout value they offered significantly went down or my account is being targeted

I cashed out for full value just 2 days ago. It just depends on the game. My experience is completely different than yours.

[FlushorBust7]

So that tells me my account was targeted. The only time I see that option to cashout at full value is on a straight bet before the game starts. Once the game goes live (even with same line and same vig) the value drops down to roughly 40% of wager amount.

also if I have a parlay with all legs complete except one and it’s before game time I’m still getting offered 40% of fair value. Example I had parlay 3/4 done with all big underdogs completed. The last leg was a -150 moneyline. On a potential $2000 payout with only the -150 moneyline needed to win, I was being offered $450 to cashout…. Clearly the fair value was around $1200 so was expecting an offer around $1100 maybe but offer was $450….

[TheMetsSuck]

Bovada has a cash out feature. Only offshore book I’ve ever used it on. I mainly only cash out golf tourney wagers when I have a long shit in the mix going into Sunday

[thomorino]

So that tells me my account was targeted. The only time I see that option to cashout at full value is on a straight bet before the game starts. Once the game goes live (even with same line and same vig) the value drops down to roughly 40% of wager amount.

also if I have a parlay with all legs complete except one and it’s before game time I’m still getting offered 40% of fair value. Example I had parlay 3/4 done with all big underdogs completed. The last leg was a -150 moneyline. On a potential $2000 payout with only the -150 moneyline needed to win, I was being offered $450 to cashout…. Clearly the fair value was around $1200 so was expecting an offer around $1100 maybe but offer was $450….

I am offered a full value cash out on straight bets before the game starts of the line didn't move, same as you. Of course when th game starts th cash out featur changes, the books almost always charge more vig for live bets.

[jjgold]

Lol cash outs

Squares

[d2bets]

No think you are misunderstanding what I’m saying.

the line and vig could be the exact same example -4 (-110) and I’m being offered roughly 40% of fair value for the cash out(that’s why I mentioned vig 60%).

this only started rather recently, I previously would see about 90% of fair value for wager on the cashout amount, now it is unreasonably low and I’m being told it is “working as intended”, so either the cashout value they offered significantly went down or my account is being targeted

Are you only talking live or are you also talking pregame. Yes, live cashout is always a complete ripoff. Don't even look at it. But the pregame cashout at same number is quite nice. Let's say you make a bet and accidentally take the wrong side or regret it. Book. You can get rid of it for free.

[FlushorBust7]

Mainly regarding live cashouts. I know it was never 100% I would usually get an offer around 80-90% fair value but now I’m only getting offered 40% or so of fair value offered.

[d2bets]

Mainly regarding live cashouts. I know it was never 100% I would usually get an offer around 80-90% fair value but now I’m only getting offered 40% or so of fair value offered.

80-90% isn't worth considering either. So just ignore it.

[jjgold]

Books love when you cash out it is there to hurt you not help you

[d2bets]

Books love when you cash out it is there to hurt you not help you

Usually true, but not always. Decent rule of thumb though.

[kidcudi92]

It has totally changed

Barely even exists anymore

Shitty

[Optional]

No think you are misunderstanding what I’m saying.

the line and vig could be the exact same example -4 (-110) and I’m being offered roughly 40% of fair value for the cash out(that’s why I mentioned vig 60%).

this only started rather recently, I previously would see about 90% of fair value for wager on the cashout amount, now it is unreasonably low and I’m being told it is “working as intended”, so either the cashout value they offered significantly went down or my account is being targeted

It probably changed more than a month ago I would guess.

Sometime after they changed their back end software.


And I doubt that you will see 60% less than fair value offers on every game. But would be very interested to know if you do, and get some others with bets on same game to compare %s.

I'd think it's new linesmen who are learning how to maximize value with the cashout system and just getting too greedy.

Another reason for that instance you describe might be setting the value so bad to discourage people from taking profits late against their cashout figures, and pushing it to another departments figures.

[mackave]

365 and a few other offshore for CANADA users have cash out, and cash out is good, y’all saying it is bad have a lifetime max bet of like $250, try a 8k bet and you’re fukking sweating and you just wanna avoid the game all together, done it multiple times and the team i’ve been on has gotten sh!t kicked.