Hedge Question....for the Sharps

Double Bogey · 08-29-12, 04:46 PM

Did you place the parlays with the intention of hedging? You should never hedge unless you have big money involved or if you cap a game to go the opposite way based on new info. Otherwise you are cheating yourself in the long run.

frogsrangers · 08-29-12, 04:49 PM

Playing parlays for the sole purpose of hedging them is not a good idea

You are better off straight betting that cigar lighter game than using it in parlays to hedge down the line.

For example, you do a 2 team parlay, at $100 to win $260, and your first game hits. The second game, you hedge $90 on the other side, and you guarantee yourself a $70 profit no matter what.

But if you just bet $100 on the first game of the parlay, you would have won $90.

You lost $20.

Things change when the first bet of the parlay is at + money, but again, the odds are still stacked against you.

Hedging should only be done when you are either insuring a huge amount of money or completely OK with the lesser payout you will get. For example, hedging against a $500 bet, or if you have hit the first 6 games of a 7 game parlay, you are OK with hedging against that last game and guaranteeing your profit.

But in the long run its better off straight betting.

I know a guy who would always throw the monday night game into his huge parlays, and say "If I get this far, I just hedge against the monday night game! It's like I am getting a 7 team parlay for an 8 team payout" but you are better off just betting a 7 team parlay than an 8 team parlay with the intention of hedging against that last game.

LizReed44 · 08-29-12, 05:54 PM

Thank you both - since I also had the Bravos wrapped in a 3 team Round Robin (with the Reds and Rays), I did decide to run line the Padres only because I have so much keyed on that game now.

But to put the A's on the RRL is absurdly expensive (-280) and the Stros are...well, the Stros.

So I guess I'll ride the night out and see what happens.

Thanks again...

Aug 29 12:58 PM by: INTERNET	19235539	MLB MLB	Aug 29 08:05 PM Aug 29 01:08 PM	PARLAY (2 TEAMS) [915] SFO GIANTS -160 ( ACTION ) [917] TOR BLUE JAYS +220 ( ACTION )	25/105
Aug 29 12:59 PM by: INTERNET	19235544	MLB MLB	Aug 29 01:08 PM Aug 29 07:05 PM	PARLAY (2 TEAMS) [917] TOR BLUE JAYS +220 ( ACTION ) [920] CLE INDIANS +120 ( ACTION )	25/151
Aug 29 12:59 PM by: INTERNET	19235550	MLB MLB	Aug 29 06:35 PM Aug 29 01:08 PM	PARLAY (2 TEAMS) [905] ATL BRAVES -130 ( ACTION ) [917] TOR BLUE JAYS +220 ( ACTION )	25/116
Aug 29 01:00 PM by: INTERNET	19235556	MLB MLB	Aug 29 08:05 PM Aug 29 07:05 PM	PARLAY (2 TEAMS) [915] SFO GIANTS -160 ( ACTION ) [920] CLE INDIANS +120 ( ACTION )	25/64
Aug 29 01:00 PM by: INTERNET	19235564	MLB MLB	Aug 29 06:35 PM Aug 29 08:05 PM	PARLAY (2 TEAMS) [905] ATL BRAVES -130 ( ACTION ) [915] SFO GIANTS -160 ( ACTION )	25/46
Aug 29 01:00 PM by: INTERNET	19235584	MLB MLB	Aug 29 06:35 PM Aug 29 07:05 PM	PARLAY (2 TEAMS) [905] ATL BRAVES -130 ( ACTION ) [920] CLE INDIANS +120 ( ACTION )	25/72
Aug 29 01:01 PM by: INTERNET	19235591	MLB MLB MLB	Aug 29 08:05 PM Aug 29 01:08 PM Aug 29 07:05 PM	PARLAY (3 TEAMS) [915] SFO GIANTS -160 ( ACTION ) [917] TOR BLUE JAYS +220 ( ACTION ) [920] CLE INDIANS +120 ( ACTION )	50/522
Aug 29 01:01 PM by: INTERNET	19235598	MLB MLB MLB	Aug 29 06:35 PM Aug 29 08:05 PM Aug 29 01:08 PM	PARLAY (3 TEAMS) [905] ATL BRAVES -130 ( ACTION ) [915] SFO GIANTS -160 ( ACTION ) [917] TOR BLUE JAYS +220 ( ACTION )	50/410
Aug 29 01:02 PM by: INTERNET	19235607	MLB MLB MLB	Aug 29 06:35 PM Aug 29 01:08 PM Aug 29 07:05 PM	PARLAY (3 TEAMS) [905] ATL BRAVES -130 ( ACTION ) [917] TOR BLUE JAYS +220 ( ACTION ) [920] CLE INDIANS +120 ( ACTION )	50/572
Aug 29 01:03 PM by: INTERNET	19235618	MLB MLB MLB	Aug 29 06:35 PM Aug 29 08:05 PM Aug 29 07:05 PM	PARLAY (3 TEAMS) [905] ATL BRAVES -130 ( ACTION ) [915] SFO GIANTS -160 ( ACTION ) [920] CLE INDIANS +120 ( ACTION )	50/266