However, is it truly beneficial? Or does it just add stress, especially when we realize afterward that we could have earned more if we hadn't given in to the temptation to cash out early?
The cash out options adds more puzzle to gambling, it is beneficial to both gambler and sportsbook because for gamblers, they could win from their options even if all are not correct, and for sportsbook, a gambler could loose a greater sum of money, because they cashed out early. As gambling grows, more options like this will come up that make gambling more tricky, and most sportsbook will not waste time to include these new options knowing that they will be sort after by gamblers. There will be gamblers who will not play in a sportsbook because they do not have the cash out option.
You're actually right because this option was careful brought by casinos to cleverly deceive people to lose more money because imagine some one who has about three game's left and has a high probability of winning but because of fear and knowing that they have an option to cash out and get small cash from the potential winning that they where to have and eventually cash out and lose out in the full money that where originally on the betting slip so this option is one that is beneficial to both the gambling company and the gambler
Because at the end of the day you will find out that the both parties involved are benefiting and always lose too because you can also cash out a game that will eventually cut at the last game so in such case you can see that the gambler has gained and the casino losing so I will say that cash out option is both beneficial to the both parties