Might win your office pool? Don’t give away free money April 6, 2008
Posted by Vince Mullins in Basketball, sports betting, sports investing.Tags: hedging, NCAAB, sport investing, sports betting
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March Madness presents a unique opportunity to approach sports investing the way that many professionals do, whether in the capital markets or betting the lines.
Follow me here – you put ten bucks into an office pool for the 2008 NCAA Men’s Basketball Tournament, 100 people are in for a $1000 pot. You had Memphis beating Georgetown in the final, and if the Tigers win you get $700 but if Kansas wins you get nothing. Most people accept this and will simply cheer like hell while watching their winnings go to ZERO when the Jayhawks hit a three at the buzzer.
But your Monday night does not have to go down like that. You can guarantee huge profits by hedging.
Given the above scenario, log on to your favorite sportsbook and put $300 on Kansas to win (+105). Run the numbers – you just guaranteed yourself at least $630 in your pocket with $310 at risk!
Either way you bring home big bank by hedging your bet on Memphis – because of your intellect or good fortune, do not give free money away when in office pools! Use the sportsbooks to lock in winnings!
