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mcspufftiger7
Member since Oct 2020
646 posts

Hedging your bet

So a lot of you are in the same spot as me. $100 original bet. If LSU beats GA I win $6100. How many of you will hedge that bet and put money on GA also? I have heard differing views from a couple of people. If I put $1000 on Ga then if LSU wins I net $5100. 1f LSU loses I net $900. Win/Win.


mmcgrath
LSU Fan
Indianapolis
Member since Feb 2010
33092 posts

re: Hedging your bet
quote:

If I put $1000 on Ga then if LSU wins I net $5100
Don't see how you get even odds betting on Georgia.


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262
nobigdeal69
LSU Fan
baton rouge
Member since Nov 2009
2023 posts

re: Hedging your bet
You're going to have to bet GA Moneyline, which will probably be around -700. This is a really tough spot to be in. Personally, I would just let this one ride and hope for an LSU win.

If you put money on GA -15 (-110), you could be in for a really painful evening.


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240
LSUfan4444
LSU Fan
Member since Mar 2004
51104 posts

re: Hedging your bet
UGA is -770 to win the SEC

If you put $1k on UGA and they win, you clean $30

Whats the cashout offer?
This post was edited on 11/21 at 2:49 pm


rwestmore7
LSU Fan
Walker, LA
Member since Nov 2007
359 posts

re: Hedging your bet
I have one that I put $5 on to win $500 (kicking myself for not betting more )

The cashout amount is basically if you hedge the whole bet, so when last weeks odds came out it was like $70, which is what I would win if I put $500 on GA.


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20
ChaseMac
Member since Sep 2016
406 posts

re: Hedging your bet
Your best bet is to bet Georgia ML live at a better price than the -700


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50
gizmoflak
USA Fan
Member since May 2007
11532 posts

re: Hedging your bet
If you bet $5,337.50 on UGA money line at -700, then you lock in a profit of $662.50 regardless of the outcome

(I'm assuming your original bet is LSU SEC champs at +6000)


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Gings5
US Space Force Fan
Houston, TX
Member since Jul 2016
5768 posts

re: Hedging your bet
Use a hedge calculator.

I would just let it ride though.


uptowntiger84
LSU Fan
uptown
Member since Jul 2011
3396 posts

re: Hedging your bet
That's not how it works. The money line with Georgia being favored by 15 or so will be somewhere around -700. So you could risk $3500 to win $500 if Georgia wins minus $100 you bet on LSU so profit would be $400 if Georgia wins.


Art Vandelay
LSU Fan
LOUISIANA
Member since Sep 2005
10129 posts
 Online 

re: Hedging your bet
quote:

That's not how it works. The money line with Georgia being favored by 15 or so will be somewhere around -700. So you could risk $3500 to win $500 if Georgia wins minus $100 you bet on LSU so profit would be $400 if Georgia wins.


Correct. And at that point is it worth it?


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USA
Member since 2001
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KC Tiger
LSU Fan
Member since Sep 2006
4329 posts

re: Hedging your bet
There is no way a $100 bet on the money line will net you $6100 (it would closer to $500). Perhaps I'm misunderstanding what you mean by "original bet".

Additionally, a $1000 bet on Georgia would likely net you $100. My guess is the money line for Georgia will be around -650.

Again, maybe I'm misunderstanding the bets you have made and are anticipating making.
This post was edited on 11/21 at 4:44 pm


LSUfan4444
LSU Fan
Member since Mar 2004
51104 posts

re: Hedging your bet
quote:

My guess is the money line for Georgia will be around -650.


It’s > -700 everywhere I have seen

To hedge and still bank something significant he’d have to throw up a much larger stake than $1000


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dmatt2021
LSU Fan
South LA
Member since Aug 2021
1259 posts

re: Hedging your bet
Instead of worrying about hedging your bet just drop $500 on LSU money line and add to your winnings. #alignment


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80
The Boat
Duke Fan
Tim McGraw Country
Member since Oct 2008
154730 posts

re: Hedging your bet
quote:

Whats the cashout offer?

Probably very low because they don’t think LSU is going to beat Georgia. Which is the whole point of the bet.


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wildtigercat93
UNLV Fan
Member since Jul 2011
110982 posts

re: Hedging your bet
quote:

There is no way a $100 bet on the money line will net you $6100 (it would closer to $500). Perhaps I'm misunderstanding what you mean by "original bet".


I believe he has a futures bet for LSU as SEC champs, likely grabbed earlier in the season at very high odds


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jkylejohnson
New Orleans Saints Fan
Alexandria
Member since Dec 2016
12741 posts

re: Hedging your bet
I’d throw 3500$ or so on UGA. Win 2600$ of 500$. I could live with either of those. I’m a hedging mf’er though when I can guarantee some profit. Georgia is a heavy favorite and it’s essentially a home game for them. Give yourself a consolation prize if the tigers can’t pull it off.


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CubsFanBudMan
Chicago Cubs Fan
Member since Jul 2008
4673 posts

re: Hedging your bet
I put $10 at plus 8000, so if LSU wins the payout is $810. My current cash out offer is $52.21. I looking it yesterday, and a new bet would take about $125 to payout $810.

If I put $400 on uga at -700, they payout would be $457.14, which would be a net gain of $5 over just cashing out now, but it would cut my winnings down by half if LSU wins.


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ATLsuTiger
LSU Fan
Johns Creek
Member since Aug 2009
5370 posts

re: Hedging your bet
I would only consider two options:

Option 1- Let it ride.

Option 2- Buy a couple points and throw down big on LSU +17 to win even more money if LSU gets the dub. If they lose, I still at least give myself a MAJOR sweat to profit nicely by covering the +17.


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BigDaddy5151
LSU Fan
Alexandria
Member since Dec 2013
582 posts

re: Hedging your bet
Bet LSU
I HAVE $150 AT 100-1 and thought about the same question
SO TAKE THE POINTS
Lsu loses but covers your happy.
Lsu wins and covers your really happy



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mcspufftiger7
Member since Oct 2020
646 posts

re: Hedging your bet
Understand now. Better off letting it ride.


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