Proper way to Hedge? If Denver wins tonight, I win $500.

[elgreco]

Points to whomever takes the time to answer this thoroughly.

If Denver wins tonight, I will $500. Period.

I am able to get Pinny vig-free lines of -150 ATL, +150 DEN.

What is the proper way to hedge this so that I remain basically neutral? Since ATL has a 60% chance of winning, should I put 60% of the $500 on the ATL ML? That way I make $200 if ATL wins and $200 if DEN wins?

Whats the mathematically correct way to play this and whats the thought process behind it?

[Let's Go Rangers]

I think to answer that we would have to know how much you lose if Atl win outright.

You are talking straight up WL rather than the ATS correct?

[flocko76]

What you said, put 300 on atlanta -150. atlanta wins you win 200. atlanta loses, you win that other 500, minus the 300 you put on atlanta. 200 net either way.

but like rangers said, how did you get to this $500 if denver wins? a multi-team parlay? how much did you put on that?
or did you bet your friend $500 that denver wins?

[elgreco]

Correct.

I'm in a $10 office pool, and if Denver wins outright, I get the pot of $510. So I really have nothing to lose other than the unrealized profit of not hedging this correctly beforehand.

[horja1]

Since ATL has a 60% chance of winning, should I put 60% of the $500 on the ATL ML? That way I make $200 if ATL wins and $200 if DEN wins?

[wtt0315]

let it ride denver blows them out

[elgreco]

Thanks gentlemen, just laid 20 BTC on the Falcons ML.

[elgreco]

Already collected my winnings. Btcsportsmatch ftw.