Patrick,
I don't normally make a hedge bet but I did a couple of weeks ago and I will tell you the scenario and my thinking. It was Preakness day and the Belmont late P4. My ticket was 4X3X1X6 $72 for $1. I had 2 $20 plus horse in along with an obvious low price single. In the last race I was alive to 6 of the 10 horses. I did not want to come this far and not cash a ticket and I was eligible for some pretty large payouts. I placed $5 win bets on the remaining four horses,all of which had odds greater than 15-1, which cost me $20. My pick 4 ticket blew up in the last leg but my hedge bet still paid about $140. This did not prevent me from going on a 30 second profanity filled rant but helped my ROI for the day.
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