Mansion Question from Novice

[Willy]

First, I saw there is already a thread on Mansion but it does not answer my questions. If you have no interest in answering what to many of will be stupid questions from a novice, stop here and move on to the next thread. For those who continue, I apologize for the length of this post. If I knew what I was talking about I probably could have made it shorter.
Second, While I have no interest and even less knowledge in sports, the offer i received from Mansion intrigued me as I could not see how I could lose. It looks like a heads I win, tails we tie proposition.
My questions are as follows:
1.) If I bet $1100 with Mansion on Pittsburgh and win they pay me $1000. I assume I also get my $1100 back for a profit of $1000.If I lose, they refund my entire $1100 bet.
It seems my only risk is default by Mansion, a risk I am willing to take if this can possibly be true. Is the foregoing correct?
2.) If the above is correct The only way I could see how Mansion could do this is to make the bet so unfavorable as to make it very unlikely that I win and they will simply return my money and have (they hope) a new sports betting customer. Is this correct?
3.)If I am very unlikely to win the bet, I have noticed a discussion of hedging in the other thread. I assume this to mean taking a bet at anther site for the team playing Pittsburgh ( not disclosed in the email) and if I win I get $1000 from them and my money back from Mansion. This didn't make much sense to me as Mansion has to recognize that this just creates new customers for their competitors. While if I bet it at all I am inclined to just take the Pittsburgh bet and hope to win I am intrigued by the hedging possibility.

Thanks to any who take the time to read this and reply and may you have good luck during the football season.