Hedging my Broncos bet... help!

[caboman]

I bet $50 earlier in the year, after week 3 or 4, that the Broncos win the West at +2000. At this point, if they win, I win my bet. How do I hedge against it?

It look like the only way that the Broncos don't win the West is if they lose and Oakland wins. What is the best way to hedge against this?

Help appreciated.

[bmansell33]

$50 money line chiefs

[bmansell33]

Broncos win you cash chiefs win you get little extra on your money

[dnwjdl]

If I were you, I would use a two-team money line parlay to hedge my position. As far as I understood, you will win $1000 if the Broncos win the division.

Two team ML parlay
Kansas City Cheifs 2.430
Oakland Raiders 1.667
2.430*1.667 = 4.050

This parlay will pay you 4.050 times your wager if both Kansas City and Oakland win.

When you bet $100 on this parlay,
If Denver wins the division, you will win $900 ($1000 -$100)
If Oakland wins the division, you will win approx. $300 ($400 - $100)

When you bet $200 on this parlay,
If Denver wins the division, you will win $800 ($1000 -$200)
If Oakland wins the division, you will win approx. $600 ($800 - $200)

You can increase or decrease the wager of the parlay depending on how much you want to hedge.
Personally, I would bet only $100.
Hope it helps. Happy New Year!

[AL1322]

i wouldnt hedge at all..u made the bet..your down to the last game..your at home..u have god on your side...let it ride my friend

[mr steve]

bet on kc plus points and win both ways or complete the hedge at worst
bet 5 hundred on kc plus 3, den wins by 4 or more u win 450 by 3 u win 1000 by 2 or 1 u win 1500. kc wins outright u win 500. lock up the cash

[Mac4Lyfe]

i wouldnt hedge at all..u made the bet..your down to the last game..your at home..u have god on your side...let it ride my friend

Are you serious? Always hedge and ensure money in your hands...

[AL1322]

not a tim tebow believer i take it mac...if i was going to hedge i certanly wouldnt cost myself have of what i could win