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Hedging a Bears bet

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  1. Bonestein Bonestein is offline

    Canada

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    Dec 23rd, 2011 (12/23/2011 5:21am)

    I'm in a big argument with my buddy because he bet the Bears to win over 8 games this year ($200 to win $500). He has bet $110 on the Packers ML this week to win $15 and is insisting it is a smart hedge. I think he's crazy because he's risking 20% of his potential winnings for only $15. I need to get other people's thoughts on this... WWYD OT?
  2. Jims14 Jims14 is offline

    Libyan Arab Jamahiriya

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    Dec 23rd, 2011 (12/23/2011 5:26am) in reply to Bonestein

    http://www.grantland.com/blog/the-tr...anet-hollywood

    half way down
  3. BRm34eva BRm34eva is offline

    Forest Park, IL
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    Dec 23rd, 2011 (12/23/2011 5:26am) in reply to Jims14

  4. SevenCostanza SevenCostanza is offline

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    Dec 23rd, 2011 (12/23/2011 5:52am) in reply to BRm34eva

    only hedge if the potential winnings of the initial bet are huge for you, not on a bet paying 5:2.
  5. runninbad runninbad is offline

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    Dec 23rd, 2011 (12/23/2011 5:58am) in reply to SevenCostanza

    If 8 wins is a push, it's the worst hedge ever. ( I would assume he would parlay the Green Bay money to next weeks Minnesota game.)

    If 8 wins is a loss, it's the 2nd worst hedge ever.

    On second thought, both are tied for the worst hedge ever.

    Would like to know where he got 5-2 on a total wins future bet though.
    Edited By: runninbad Dec 23rd, 2011 at 06:02 AM
  6. Bonestein Bonestein is offline

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    Dec 23rd, 2011 (12/23/2011 6:23am) in reply to runninbad

    8 wins is a push. He got the 5:2 on Pinnacle, my memory is foggy but I guess the under was being hammered. I completely agree with Seven and runnin, this isn't even a real hedge IMO. I also hate any -600 bet in the NFL and don't see how that kind of risk is ever worth it (K, maybe the Pats vs. Colts game, but it seems like every 2-3 weeks a -600 favorite loses outright in the NFL). It's the biggest pussy bet ever. I just hate it.

    By the way after thinking about it more I think when he says he can win $500 it means it was actually a 3:2 futures bet. Which makes the "hedge" even worse.
    Thread Starter
  7. Paki_Poker Paki_Poker is offline

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    Dec 23rd, 2011 (12/23/2011 2:12pm) in reply to BRm34eva

     
    Originally Posted by BRm34eva View Post

    That's pretty epic.
     
  8. Tourney Tourney is offline

    Eau Claire, WI
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    Dec 23rd, 2011 (12/23/2011 2:19pm) in reply to Paki_Poker

    gotta say thats probably the dumbest hedge ive heard of in my life. He should wait till their final game to hedge if he really has too. Although personally i wouldn't be hedging this bet at all.
  9. Blackout4 Blackout4 is offline

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    Dec 23rd, 2011 (12/23/2011 2:24pm) in reply to Tourney

    [ ] this thread is real
     
  10. BigEarn7 BigEarn7 is offline 2010 Plattsburgh Award Winner

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    Dec 23rd, 2011 (12/23/2011 6:11pm) in reply to Blackout4

     
    Originally Posted by Blackout4 View Post

    [ ] this thread is real

    This.

    I think your buddy is hedging just to be able to tell people that he is hedging. His bet to win $15 is beyond stupid and makes no sense.
  11. Bonestein Bonestein is offline

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    Dec 23rd, 2011 (12/23/2011 7:01pm) in reply to BigEarn7

    Swear to God it's real. We actually got into a massive text argument about it because he thought I was an idiot for not understanding hedging. I've never been more frustrated with a friend.
    Thread Starter
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