I'm glad everyone is pointing out the hedges to you, but you have to have the money to hedge these bets first. If you don't have the bankroll, you either have to have someone bank you, or bet a lesser amount on the hedge.
I am sitting on a 10 for 3000 ticket at Matchbook. Just no point in hedging it.. and I will usually hedge when I have a profit locked up. In this situation you just can't make much with ML's of -400 Chicago and expected -500 on Atlanta if they make it. Parlay odds on Seattle beating Bears and then Atlanta would be 24 to 1 or more.
Sorry Murhpy but there is no way Atlanta is a 3 or 4 point favorite at home against Seattle. Would be 12 point favorites likely.
Thanks for the info Boat, I only need to win 2 games, just to win NFCYes 3 legs.
Now keep in mind, I filled my 1st legs with Aunburn getting ready for this hedge.
So I use the 2nd leg for the Bears. If the the Hawks cover, I use the 3rd leg for either GB or Atlanta.
Also put in ANOTHER 10 pt teaser with the Bears as the 1st leg. this leaves 2 slots for NFC title game and SB if needed.
Yes 3 legs.
Now keep in mind, I filled my 1st legs with Aunburn getting ready for this hedge.
So I use the 2nd leg for the Bears. If the the Hawks cover, I use the 3rd leg for either GB or Atlanta.
Also put in ANOTHER 10 pt teaser with the Bears as the 1st leg. this leaves 2 slots for NFC title game and SB if needed.
Can't disagree with anything your saying here. I am the guy you are referring to that will make a profit on a good future almost everytime. With that being said, there are some sharp posters in here that I don't mind throwing their 2 cents in, Its possible for me to overlook a good option.what always seems to happen in threads like this is
1) the poster asks a question about his options
2) the responders give many possible hedging
alternatives
3) the original poster shows that he had basically
already decided on what to do and will do it
unless he his strategy is proclaimed by most
to be incredibly stupid.
let me tell you the correct answer.
THERE IS NO CORRECT ANSWER!!
everyone must do what they feel comfortable
with that's in their best financial interest and
within their tolerance for risk. there is no one size fits all
for hedging and locking in equity. i have 2 friends.
they both play futures fairly large and try to get
good value. both are sharp, well-financed, and
very experienced gamblers. one is a nit. the moment
he senses any value on the buyback side, he takes it
and locks in his profit. he would NEVER gamble a future
to get a 100% win or 100% loss. the other friend ends
up with some great future positions in every sport including
horse racing. he always talks about hedging these huge
positions and locking in a profit or at least mimimizing
his loss. he never does. it's not his style nor in his nature
to hedge even though he talks about every time. who is right?
they both are. they are gambling in the way they feel most
comfortable.
red eye, just do what you feel comfortable with. you are in
great position and i hope however you proceed that it
works out for you.