Got 1500 on the Pats @ EVEN, as a future prior to last week. So, now is one win (no point spread) away to double 3000 or nothing. Question is, to hedge this or not? Options that I'm thinking are as follows:
1) Put like 500 on Philly ML if like +200, so instead of 3000 or 0 (risking 1500), risking only like 500 to win 1000 net. The odds are such that I could also hedge to risk losing 0 if Philly wins game, or still be up like 750 net if Pats win. So, hedging can go from risking 0 guaranteed to win the like 750 net, all the way to risking 1500 for the 1500 net. And, can keep going like 1000 on Philly ML @ +200, would mean I simply win 500 net guaranteed no matter who wins, and get my 1500 back too of course.
2) Put like 1100 on Philly +4.5, so if Pats win & cover, win 400 net, vs. down 1500 if Philly wins. If Philly wins, am down 500 net, instead of 1500. And, if Pats win but don't cover, can still easily hit both to be up 2500 net.
3) No hedge, just let it ride, 1500 double or nothing, Pats just have to win.
4) Press the Pats ML and/or give the 4.5
What to do? Any thoughts, suggestions, ideas out there?