So I was thinking about this, and let's say I take the Ravens at a +600 to win the super bowl.*
($100 to win $600)
And then I take the Patriots today for -300
($300 to win $100)
The worst that can happen is the Patriots win today and you break even. BUT, if the ravens win, you still have your $100 that is now to win $300.*
That's a 3/1 payout in the super bowl.*
Even if you wanted to hedge it and bet on the opposing team in the super bowl, (keep in mind, the other team may even be underdogs) you'd still be guaranteed money.*
0 risk, possible reward.
Am I wrong? Is there something I'm missing?