Three possible outcomes can happen when you Hedge a Sports wager:
1. Your hedge works out and you show a profit but lose your main wager.
2. Lose your Hedge; your main wager wins but you cut into your profits.
3. Both your hedge wins and your main interest also win.
Over the weekend a friend of a friend played in a couple of NFL Tackle Football Pools. They clinched the Del Mar Forum’s Football Pool by two games after Thomas Brady threw that immaculate reception v the Aints.
They also had a live ticket in their building's (Racetrack) separate football pool. However, in this pool they were only 1 game ahead and needed San Diego to win while their two still alive opponents both had Indianapolis. They had 47 or over for their tie-breaker while their opponents had 46 or under. So they needed either an outright San Diego win with any score or an Indianapolis victory with a score OVER 46 to take down their Building’s Pool.
So this friend of a friend calls me and goes,
"Vince, a friend told me to call you. They said even though you’re down about $17,000 this year wagering on Football, you have a knack for manipulating odds and fixing events, so how should I Hedge tonight?”
“Go on 5 Dimes and bet the UNDER score of 50.5 at the reduced vig of -1.01 and wager 33% of your potential winnings of the Pool prize. This leaves you with several possible positive outcomes.”
1. If SD wins and the score is over 50, you lose your Hedge wager but win the Pool.
2. If Indy wins and the score is 51 or more, you win the pool outright but lose your Hedge wager.
3. If Indy wins and the score is under 47, you lose the Pool but win your Hedge wager.
4. If Indy wins and the score is 47, 48, 49 or 50 you win both bets.
5. If San Diego wins and the score is under 51, you also win both bets - the Pool and your Hedge wager because both the UNDER comes in and SD wins.
The worst you can do is win 33% of the total Pool prize on your Hedge wager, still a profit.
The best is you win BOTH the Hedge wager and the Pool prize, options 4 & 5.
Bottom line is sometimes Hedging is a great opportunity if you do it right and have some Luck, no pun intended.