Hedging your bets

[Jackson]

Hello,

I'm new to the site and this is my first post.
I find myself asking this question often, especially after Oaklawn on Monday. Using some techniques from Steven Crist's and Steve Davidowitz's books and the horse insights that Steve gives, I'm find myself alive in the last leg with the double, several pick 3's, and finally the pick four to a few horses, how best does one go about hedging their bets?