oyu cant look at it short sighted. it is easy to hedge when they are favorite, but what happens if they win, like a favorite should. then your hedge the next game just doubled. instead of having to bet Duke to win 64, you need to bet to win 128. If Duke is -4 -200 and Baylor wins, you really start to create trouble.
Hedging this game would have been a poor decision. Fortunately Baylor looked great which should shorten the line next game slightly. If Purdue pulls the upset it would be great.
Great play on Baylor BTW.