In a similar situation as WVGambler, but I have Kansas winning.
If you add up my betpoints winnings (15000 for 1st in contest and 980 for a bet on myself to win contest) and money I will win in brackets if Kansas wins ($480), you come out to roughly 1170.
I don't know that it's worth it to hedge 1170 -320 and make back $350.
I'm hoping Kansas enters half up and I can bet on Kentucky 2h to get -110.
Still debating though... let me know what you all think!