Should I hedge?

MichaelP · Oct 20, 2005

Should i Hedge?

I have the Astros to win the the world series (las vegas wager) at 85 to 1
As a joke when they were 15-20 i believe. Something like that.
I only put $250 on it but the payout is 21000+

I rarley bet baseball, as hockey is my thing, but this is kind of uknown territory for me.

So your opinions are much appreciated

Fishhead · Oct 20, 2005

Since you stated you wagered this as a "joke", believe you would be foolish not to hedge a portion of this back, however small.

trytrytry · Oct 20, 2005

see if you can find some White Sox -115 action and get yourself a nice $3000 profit with them locked in just in case.

MichaelP · Oct 20, 2005

the best price i see is white sox -120

hellah10 · Oct 20, 2005

thats a hell of a joke :scared2:

MichaelP · Oct 20, 2005

well it was a joke at the time, because me and my friend were talking about how Clemens should be traded to a contender so he can have a chance to win the world series and I go why cant he win with the astros. He replies, "i'll give you 10 to 1 odds he doesnt". I say why would i take 10 to 1 when i can get 85 to 1. Then i placed the bet.

thinking nothing of it at the time, but now my friend and I are planning a trip to cash the ticket-hopefully

ronaldn · Oct 20, 2005

Michael P said:
Should i Hedge?

I have the Astros to win the the world series (las vegas wager) at 85 to 1
As a joke when they were 15-20 i believe. Something like that.
I only put $250 on it but the payout is 21000+

I rarley bet baseball, as hockey is my thing, but this is kind of uknown territory for me.

So your opinions are much appreciated

That depends on whether your interest is in gambling or in making money. Mine is in making money so I would hedge it to make the same amount no matter who won. Would still be a nice payday.

Mr.Smith · Oct 20, 2005

that would be a very, very large mistake ronald. you'd lose a ton of your value after betting very large on a 50/50 white sox -120 wager. a small hedge would be a lot better

D2bets · Oct 20, 2005

I would look to nibble back here and there in various ways on the White Sox. You're in a great position. I would say probably don't hedge all of it, but take some profits. You got enough money on it though to make shopping around for the best numbers absolutely crucial. Look around and joing some new books if you have to.

hellah10 · Oct 20, 2005

why not just wait and see....if the Sox are 1 game away from winning it, then hammer that game...

Houston could sweep them...who knows...I would wait a couple games into the series though

ronaldn · Oct 20, 2005

Mr. Smith said:
that would be a very, very large mistake ronald. you'd lose a ton of your value after betting very large on a 50/50 white sox -120 wager. a small hedge would be a lot better

I dont agree with that Mr. Smith. I dont know about losing a ton of value but I do know I would lose a ton of money if the team favored to win actually wins.

WorldNumberOne · Oct 20, 2005

i would wait to see how a couple of games play out. i would hedge late in the series on a game by game basis .

Should I hedge?

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