Cash out in gambling will prevent you from the lose. That will similar with stop loss in trading. If you can use both in trading and gambling, you will prevent the loss. But badly, most people are tempting to become greedy in gambling and trading so they are not use that feature because they expecting a big profit.
I do both gambling and trading and I can clearly tell you that the "stop lose" In trading is not same thing with "cash out" In sports betting. Stop lose is very good because it has precision but cash out don't have. You can set your precision in trading and once price hit there, you are off from the trade, but in betting you can not do the same. If you are not watching the game to know when to take the cash out, you will miss that opportunity. Cashout offers are not stable, it can appear for some minutes and the next minutes you won't see it again.