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Originally Posted by justindew
I have a $100 future wager from Pool 1 that will pay me $16,030. If anyone wants to buy it from me, let me know. I am willing to sell.
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They have exchange markets - where he will probably trade at around 35/1 or 40/1 on Derby day.
You could bet $100 against him which will result in about a $4K liability.
That way, if you aren't crazy about his chances anymore, you could recoup your initial investment and still make a 12K profit if he somehow wins.