Re: Hedge this Superbowl bet?
There is really only three reasons too hedge:
1) The money you will not win means more to you. So, if you had placed, for example, a 20:1 bet for $100 and you would like to lock up $500, instead of just risking the $100 to win $2K, then you should hedge. The problem with this is that you should have never placed the bet in the first place if the money was going to mean that much to you. If you placed the bet thinking it wouldn't happen anyways, then why did you place the bet. Unless of course...
2) The odds you are getting are actually worse, due to an injury, etc... Let's say you placed a 20:1 bet, but the chances aren't 1/21 (maybe due to an injury, suspension, etc... halfway through the season) that the team will win the Super Bowl, then maybe you should hedge. But, as is the case with Seattle, that looks pretty nice right now.
3) Like DougOzzzz alluded to, the other side is actually +EV.
craig
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