It is good to hedge – if you can. December 19, 2007
Posted by Vince Mullins in sports betting, sports investing.Tags: football picks, LSU Tigers, Navy Midshipmen
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I want to introduce you to a couple of ways to hedge your bets to minimize risk and still get lots of opportunity.
One of my favorite bets is the preseason odds to win the BCS Championship, and before the season I agreed with the punditry that The LSU Tigers and the USC Trojans were by far the top teams in the country. I put down a couple units on both and on August 29 got USC at 5-2 and LSU at 8-1 - in essence a hedge in itself by not just picking one team. I had cast the tickets in the garbage after the LSU OT loss at the hands of Arkansas, only to dig through the trash when West Virginia laid the egg against Pitt.
Of course the USC ticket served as a drink cushion after the Stanford upset. But I digress.
So I am left with LSU 8-1. I am likewise faced with history showing the last four BCS Championship Games being won by the underdog, hence a bit of worry. I guaranteed myself a max of ten units and a minimum of one by placing four units on Ohio State straight up +155.
In dollar terms, an original 100 to pay 800 is now hedged with a 200 to pay 310. Debit of 300, min credit 310, max credit 500.
First round is on me, and Geaux Tigers!
