Do I hedge??

[Tk79]

I know very little about betting sports to start. I did however bet $50 on the tigers at the begining of the season when they were 100-1. Last 2 yrs Ive thrown a few bucks on the tigs at long odds at the start of the season just to make in interesting. At this pt Im looking at 5k if they win and I could really use the money with the online poker world in a bit of a mess. Is it smart to hedge this bet and if so how much can I guarantee myself and how?