{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,8,22]],"date-time":"2026-08-22T10:25:28Z","timestamp":1787394328767,"version":"build-2736575974"},"reference-count":43,"publisher":"SAGE Publications","issue":"11","license":[{"start":{"date-parts":[[2024,8,26]],"date-time":"2024-08-26T00:00:00Z","timestamp":1724630400000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"},{"start":{"date-parts":[[2024,8,26]],"date-time":"2024-08-26T00:00:00Z","timestamp":1724630400000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/journals.sagepub.com\/page\/policies\/text-and-data-mining-license"}],"content-domain":{"domain":["journals.sagepub.com"],"crossmark-restriction":true},"short-container-title":["Psychol Sci"],"published-print":{"date-parts":[[2024,11]]},"abstract":"<jats:p>\n                    After a risky choice, decision makers must frequently wait out a delay period before the outcome of their choice becomes known. In contemporary sports-betting apps, decision makers can \u201ccash out\u201d of their bet during this delay period by accepting a discounted immediate payout. An important open question is how availability of a postchoice cash-out option alters choice. We investigated this question using a novel gambling task that incorporated a cash-out option during the delay between bet and outcome. Across two experiments (\n                    <jats:italic toggle=\"yes\">N<\/jats:italic>\n                    = 240 adults, recruited via Prolific), cash-out availability increased participants\u2019 bet amounts by up to 35%. Participants who were more likely to cash out when odds deteriorated were less likely to cash out when odds improved. Furthermore, the effect of cash-out availability on bet amounts was positively correlated with individual differences in cash-out propensity for bets with deteriorating odds only. These results suggest that cash-out availability may promote larger bets by allowing bettors to avoid losing their entire stake.\n                  <\/jats:p>","DOI":"10.1177\/09567976241266516","type":"journal-article","created":{"date-parts":[[2024,8,26]],"date-time":"2024-08-26T10:47:15Z","timestamp":1724669235000},"page":"1231-1245","update-policy":"https:\/\/doi.org\/10.1177\/sage-journals-update-policy","source":"Crossref","is-referenced-by-count":2,"title":["People Place Larger Bets When Risky Choices Provide a Postbet Option to Cash Out"],"prefix":"10.1177","volume":"35","author":[{"ORCID":"https:\/\/orcid.org\/0000-0001-6608-9026","authenticated-orcid":false,"given":"Daniel","family":"Bennett","sequence":"first","affiliation":[{"name":"School of Psychological Sciences, Monash University"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Lucy","family":"Albertella","sequence":"additional","affiliation":[{"name":"School of Psychological Sciences, Monash University"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Laura","family":"Forbes","sequence":"additional","affiliation":[{"name":"School of Psychological Sciences, Monash University"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0009-0002-3480-5213","authenticated-orcid":false,"given":"Ty","family":"Hayes","sequence":"additional","affiliation":[{"name":"Warwick Business School, University of Warwick"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Antonio","family":"Verdejo-Garcia","sequence":"additional","affiliation":[{"name":"School of Psychological Sciences, Monash University"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-7360-0037","authenticated-orcid":false,"given":"Lukasz","family":"Walasek","sequence":"additional","affiliation":[{"name":"Department of Psychology, University of Warwick"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-0031-6713","authenticated-orcid":false,"given":"Elliot A.","family":"Ludvig","sequence":"additional","affiliation":[{"name":"Department of Psychology, University of Warwick"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"179","published-online":{"date-parts":[[2024,8,26]]},"reference":[{"key":"e_1_3_4_2_1","doi-asserted-by":"crossref","unstructured":"Adkins R. Paxson D. (2017). The effects of an uncertain abandonment value on the investment decision. The European Journal of Finance 23(12) 1083\u20131106. https:\/\/doi.org\/10.1080\/1351847X.2015.1113195","DOI":"10.1080\/1351847X.2015.1113195"},{"key":"e_1_3_4_3_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jml.2012.11.001"},{"key":"e_1_3_4_4_1","unstructured":"Bennett D. (2022). No evidence for short-timescale temporal declines in expectations within a controlled cognitive task. Proceedings of the Annual Meeting of the Cognitive Science Society 44 2044\u20132051. https:\/\/escholarship.org\/uc\/item\/4p27t4cw#main"},{"key":"e_1_3_4_5_1","doi-asserted-by":"publisher","DOI":"10.1371\/journal.pcbi.1005020"},{"issue":"1","key":"e_1_3_4_6_1","first-page":"71","article-title":"Delay aversion","volume":"2","author":"Beno\u00eet J. P.","year":"2007","unstructured":"Beno\u00eet J. P., Ok E. A. (2007). Delay aversion. Theoretical Economics, 2(1), 71\u2013113.","journal-title":"Theoretical Economics"},{"key":"e_1_3_4_7_1","unstructured":"Bet365. (2023 July). Cash out [advertisement]. The Punters Page. https:\/\/www.thepunterspage.com\/bet365-mobile-app\/"},{"key":"e_1_3_4_8_1","doi-asserted-by":"crossref","unstructured":"Brown A. Yang F. (2017). Salience and the disposition effect: Evidence from the introduction of \u201ccash-outs\u201d in betting markets. Southern Economic Journal 83(4) 1052\u20131073. https:\/\/doi.org\/10.1002\/soej.12202","DOI":"10.1002\/soej.12202"},{"key":"e_1_3_4_9_1","doi-asserted-by":"crossref","unstructured":"Brown G. D. A. Walasek L. (2021). Models of deliberate ignorance in individual choice. In Hertwig R. Engel C. (Eds.) Deliberate ignorance (pp. 121\u2013138). The MIT Press. https:\/\/doi.org\/10.7551\/mitpress\/13757.003.0013","DOI":"10.7551\/mitpress\/13757.003.0013"},{"key":"e_1_3_4_10_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.beproc.2018.12.015"},{"key":"e_1_3_4_11_1","doi-asserted-by":"crossref","unstructured":"Chen Z. John R. S. (2018). Foresight risk attitude and utility maximization in naturalistic sequential high-stakes decision making. Journal of Mathematical Psychology 86 41\u201350. https:\/\/doi.org\/10.1016\/j.jmp.2018.08.004","DOI":"10.1016\/j.jmp.2018.08.004"},{"key":"e_1_3_4_12_1","doi-asserted-by":"crossref","unstructured":"Chew S. H. Epstein L. G. (1989). The structure of preferences and attitudes towards the timing of the resolution of uncertainty. International Economic Review 30(1) 103\u2013117. https:\/\/doi.org\/10.2307\/2526551","DOI":"10.2307\/2526551"},{"key":"e_1_3_4_13_1","doi-asserted-by":"crossref","unstructured":"Davis D. Sundahl I. Lesbo M. (2000). Illusory personal control as a determinant of bet size and type in casino craps games. Journal of Applied Social Psychology 30(6) 1224\u20131242. https:\/\/doi.org\/10.1111\/j.1559-1816.2000.tb02518.x","DOI":"10.1111\/j.1559-1816.2000.tb02518.x"},{"key":"e_1_3_4_14_1","doi-asserted-by":"publisher","DOI":"10.1080\/00036840701235704"},{"key":"e_1_3_4_15_1","doi-asserted-by":"crossref","unstructured":"De Leeuw J. R. (2015). jsPsych: A JavaScript library for creating behavioral experiments in a web browser. Behavior Research Methods 47(1) 1\u201312. https:\/\/doi.org\/10.3758\/s13428-014-0458-y","DOI":"10.3758\/s13428-014-0458-y"},{"key":"e_1_3_4_16_1","volume-title":"The Canadian problem gambling index: Final report","author":"Ferris J.","year":"2001","unstructured":"Ferris J., Wynne H. (2001). The Canadian problem gambling index: Final report. Canadian Consortium for Gambling Research."},{"key":"e_1_3_4_17_1","doi-asserted-by":"publisher","DOI":"10.1037\/a0014983"},{"key":"e_1_3_4_18_1","doi-asserted-by":"publisher","DOI":"10.1371\/journal.pcbi.1010478"},{"key":"e_1_3_4_19_1","first-page":"22209","article-title":"Two steps to risk sensitivity","volume":"34","author":"Gagne C.","year":"2021","unstructured":"Gagne C., Dayan P. (2021). Two steps to risk sensitivity. Advances in Neural Information Processing Systems, 34, 22209\u201322220.","journal-title":"Advances in Neural Information Processing Systems"},{"key":"e_1_3_4_20_1","doi-asserted-by":"crossref","unstructured":"Grant A. Johnstone D. Kwon O. K. (2021). A cumulative prospect theory explanation of gamblers cashing-out. Journal of Mathematical Psychology 102 Article 102534. https:\/\/doi.org\/10.1016\/j.jmp.2021.102534","DOI":"10.1016\/j.jmp.2021.102534"},{"key":"e_1_3_4_21_1","doi-asserted-by":"crossref","unstructured":"Gray H. M. LaPlante D. A. Shaffer H. J. (2012). Behavioral characteristics of Internet gamblers who trigger corporate responsible gambling interventions. Psychology of Addictive Behaviors 26(3) 527\u2013535. https:\/\/doi.org\/10.1037\/a0028545","DOI":"10.1037\/a0028545"},{"key":"e_1_3_4_22_1","doi-asserted-by":"publisher","DOI":"10.1257\/000282802762024700"},{"key":"e_1_3_4_23_1","doi-asserted-by":"crossref","unstructured":"H\u00fcller C. Reimann M. Warren C. (2023). When financial platforms become gamified consumers\u2019 risk preferences change. Journal of the Association for Consumer Research 8(4) 429\u2013440. https:\/\/doi.org\/10.1086\/726431","DOI":"10.1086\/726431"},{"key":"e_1_3_4_24_1","volume-title":"The general theory of employment, interest and money","author":"Keynes J. M.","year":"1936","unstructured":"Keynes J. M. (1936). The general theory of employment, interest and money. Palgrave Macmillan."},{"key":"e_1_3_4_25_1","doi-asserted-by":"crossref","unstructured":"Killick E. A. Griffiths M. D. (2021). Why do individuals engage in in-play sports betting? A qualitative interview study. Journal of Gambling Studies 37(1) 221\u2013240. https:\/\/doi.org\/10.1007\/s10899-020-09968-9","DOI":"10.1007\/s10899-020-09968-9"},{"key":"e_1_3_4_26_1","doi-asserted-by":"crossref","unstructured":"Ko K. J. Huang Z. (2012). Time-inconsistent risk preferences in a laboratory experiment. Review of Quantitative Finance and Accounting 39(4) 471\u2013484. https:\/\/doi.org\/10.1007\/s11156-011-0264-x","DOI":"10.1007\/s11156-011-0264-x"},{"key":"e_1_3_4_27_1","doi-asserted-by":"publisher","DOI":"10.1037\/1076-898X.8.2.75"},{"key":"e_1_3_4_28_1","doi-asserted-by":"crossref","unstructured":"Lopez-Gonzalez H. Est\u00e9vez A. Griffiths M. D. (2019). Internet-based structural characteristics of sports betting and problem gambling severity: Is there a relationship? International Journal of Mental Health and Addiction 17(6) 1360\u20131373. https:\/\/doi.org\/10.1007\/s11469-018-9876-x","DOI":"10.1007\/s11469-018-9876-x"},{"key":"e_1_3_4_29_1","doi-asserted-by":"crossref","unstructured":"Lopez-Gonzalez H. Griffiths M. D. (2017). \u201cCashing out\u201d in sports betting: Implications for problem gambling and regulation. Gaming Law Review 21(4) 323\u2013326. https:\/\/doi.org\/10.1089\/glr2.2017.2144","DOI":"10.1089\/glr2.2017.2144"},{"key":"e_1_3_4_30_1","doi-asserted-by":"crossref","unstructured":"Luhmann C. C. Ishida K. Hajcak G. (2011). Intolerance of uncertainty and decisions about delayed probabilistic rewards. Behavior Therapy 42(3) 378\u2013386. https:\/\/doi.org\/10.1016\/j.beth.2010.09.002","DOI":"10.1016\/j.beth.2010.09.002"},{"key":"e_1_3_4_31_1","doi-asserted-by":"crossref","unstructured":"Lybbert T. J. Just D. R. Barrett C. B. (2013). Estimating risk preferences in the presence of bifurcated wealth dynamics: Can we identify static risk aversion amidst dynamic risk responses? European Review of Agricultural Economics 40(2) 361\u2013377. https:\/\/doi.org\/10.1093\/erae\/jbs027","DOI":"10.1093\/erae\/jbs027"},{"key":"e_1_3_4_32_1","doi-asserted-by":"crossref","unstructured":"Matthews J. R. Cooper P. S. Bode S. Chong T. T.-J. (2023). The availability of non-instrumental information increases risky decision-making. Psychonomic Bulletin & Review 30 1975\u20131987. https:\/\/doi.org\/10.3758\/s13423-023-02279-1","DOI":"10.3758\/s13423-023-02279-1"},{"key":"e_1_3_4_33_1","doi-asserted-by":"crossref","unstructured":"Newall P. W. S. Russell A. M. T. Hing N. (2021). Structural characteristics of fixed-odds sports betting products. Journal of Behavioral Addictions 10(3) 371\u2013380. https:\/\/doi.org\/10.1556\/2006.2021.00008","DOI":"10.1556\/2006.2021.00008"},{"key":"e_1_3_4_34_1","doi-asserted-by":"crossref","unstructured":"Pleskac T. J. (2008). Decision making and learning while taking sequential risks. Journal of Experimental Psychology: Learning Memory and Cognition 34(1) 167\u2013185. https:\/\/doi.org\/10.1037\/0278-7393.34.1.167","DOI":"10.1037\/0278-7393.34.1.167"},{"key":"e_1_3_4_35_1","doi-asserted-by":"publisher","DOI":"10.1007\/978-94-017-1590-4_9"},{"key":"e_1_3_4_36_1","doi-asserted-by":"crossref","unstructured":"Post T. Van Den Assem M. J. Baltussen G. Thaler R. H. (2008). Deal or no deal? Decision making under risk in a large-payoff game show. American Economic Review 98(1) 38\u201371. https:\/\/doi.org\/10.1257\/aer.98.1.38","DOI":"10.1257\/aer.98.1.38"},{"key":"e_1_3_4_37_1","doi-asserted-by":"crossref","unstructured":"Shaanan J. (2005). Investment irreversibility and options: An empirical framework. Review of Financial Economics 14(3\u20134) 241\u2013254. https:\/\/doi.org\/10.1016\/j.rfe.2004.11.001","DOI":"10.1016\/j.rfe.2004.11.001"},{"key":"e_1_3_4_38_1","doi-asserted-by":"publisher","DOI":"10.2307\/1126437"},{"key":"e_1_3_4_39_1","doi-asserted-by":"crossref","unstructured":"Strickland L. H. Lewicki R. J. Katz A. M. (1966). Temporal orientation and perceived control as determinants of risk-taking. Journal of Experimental Social Psychology 2(2) 143\u2013151. https:\/\/doi.org\/10.1016\/0022-1031(66)90075-8","DOI":"10.1016\/0022-1031(66)90075-8"},{"key":"e_1_3_4_40_1","doi-asserted-by":"crossref","unstructured":"Tanovic E. Hajcak G. Joormann J. (2018). Hating waiting: Individual differences in willingness to wait in uncertainty. Journal of Experimental Psychopathology 9(1) 1\u201312. https:\/\/doi.org\/10.1177\/2043808718778982","DOI":"10.1177\/2043808718778982"},{"key":"e_1_3_4_41_1","doi-asserted-by":"crossref","unstructured":"Van Winden F. Krawczyk M. Hopfensitz A. (2011). Investment resolution of risk and the role of affect. Journal of Economic Psychology 32(6) 918\u2013939. https:\/\/doi.org\/10.1016\/j.joep.2011.07.007","DOI":"10.1016\/j.joep.2011.07.007"},{"key":"e_1_3_4_42_1","doi-asserted-by":"crossref","unstructured":"Wu G. (1999). Anxiety and decision making with delayed resolution of uncertainty. Theory and Decision 46(2) 159\u2013198. https:\/\/doi.org\/10.1023\/A:1004990410083","DOI":"10.1023\/A:1004990410083"},{"key":"e_1_3_4_43_1","doi-asserted-by":"publisher","DOI":"10.1002\/(SICI)1099-0771(199906)12:2<93::AID-BDM311>3.0.CO;2-S"},{"key":"e_1_3_4_44_1","doi-asserted-by":"publisher","DOI":"10.1038\/s41562-023-01640-7"}],"container-title":["Psychological Science"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/journals.sagepub.com\/doi\/pdf\/10.1177\/09567976241266516","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journals.sagepub.com\/doi\/full-xml\/10.1177\/09567976241266516","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journals.sagepub.com\/doi\/pdf\/10.1177\/09567976241266516","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,8,22]],"date-time":"2026-08-22T09:51:54Z","timestamp":1787392314000},"score":1,"resource":{"primary":{"URL":"https:\/\/journals.sagepub.com\/doi\/10.1177\/09567976241266516"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2024,8,26]]},"references-count":43,"journal-issue":{"issue":"11","published-print":{"date-parts":[[2024,11]]}},"alternative-id":["10.1177\/09567976241266516"],"URL":"https:\/\/doi.org\/10.1177\/09567976241266516","relation":{},"ISSN":["0956-7976","1467-9280"],"issn-type":[{"value":"0956-7976","type":"print"},{"value":"1467-9280","type":"electronic"}],"subject":[],"published":{"date-parts":[[2024,8,26]]}}}