NCAA Hedge Question

[Hogie2010]

I'm in the Bet Cris NCAA brackets contest and I have the following situation.

IF Kansas and Memphis reach the final game AND
Kansas wins then I would win $5,000

I would like to hedge that because at this point it's a coin toss as to who's going to win.

How do I hedge this play at this point (semi finals) to hedge the $5,000 and mazimize my profit so all outcomes from this point are covered?

Thank you

[LT Profits]

Seems to me you only need to make two bets:

UCLA on Moneyline Saturday

Future bet on Kansas NOT to win Championship

[HedgeHog]

You need 3 things to happen and don't know the odds on the 3rd one (Kansas vs Memphis in Champ Game). I think your possible $5000 is worth roughly $500 now. You could bet:

1st Bet UCLA +125 500/625 (or + 2 pts +103 at MB 500/515)

2nd Bet: If UCLA bet loses, then bet NC -150 for a dime 1500/1000

At this point, you have at least $500 profit, or one more bet to make against Kansas in the final.

If you lose the first two bets, you've lost $2000 of your possible $5000. Hopefully Memphis is a dog in the Final, which would give you a middle opportunity.

PS If Kansas can beat NC, I would expect them to be about a 2 point fav over Memphis.