[15805]

I have a future with Baylor winning the big 12, 50 to win 340. Should I bet on OSU vs. Oklahoma at -350 (263 to win 75) to hedge. If OSU wins I'll win 25 if Oklahoma
surprises & then Baylor wins the Big 12 & I'll win 77.

Of course this makes sense except if Texas @ +425 gets lucky & beats Baylor at home.
If that happens I'd lose over 300 & that's scary.

[Dollars2Donuts]

Don't hedge in this situation unless your $50 is your only way to eat.

[NeilV]

I have a future with Baylor winning the big 12, 50 to win 340. Should I bet on OSU vs. Oklahoma at -350 (263 to win 75) to hedge. If OSU wins I'll win 25 if Oklahoma
surprises & then Baylor wins the Big 12 & I'll win 77.

Of course this makes sense except if Texas @ +425 gets lucky & beats Baylor at home.
If that happens I'd lose over 300 & that's scary.

You do not hedge when in a losing proposition which you are in here (big time because Ok St is a Huge favorite)
The best you can do now is to reduce you original bet (assuming it is a LOSS) loss to -$40 (your largest liability is limited to -40) Is it worth it? Maybe not but if the original bet was $5000 then try to cut the loss by $1000 is a nice thing to do.