Hedge Bets, or plays

[3kings]

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.

[sdjcom]

Originally Posted by 3kings

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.

that was a very good example of hedge betting and easy to understand thx,and glad you cashed your $140 while cussing like a sailor lol...

[MaTH716]

Patrick I think small players can to it too, but obviously not to the extent of the bigger players. I sometimes try to hedge depending on the payouts. Yesterday I did, I was live to 3 horses in the late pick 4 at Hollywood. I was worried about the last horse I threw off the ticket. I thought that if anyone was going to blow up my ticket it would be him. I bet $10 win on him and played $5 exacta's with him over my three horses. I didn't have enough money in the account to play any triples. Sure enough this horse I semi hedged with won at 9/2 (blowing up the pick 4) and one of my pick 4 horses ran second. So I ended up making some money on the sequance. So it was some relatively cheap protection on my ticket and if I would have lost the race totally it would have only cost me an extra $25 bucks.

[hoovesupsideyourhead]

i dont hedge on the win side ,but will make a 'B' TICKET in some cases..smaller slimmer in case a single gets beat by a mid level contender

[pktruckdriver]

Thank you

Gentlemen, thanks for the responses, as I was just curious on how best to possibly do this on the lower end of the financial scale.

But , always thought that hedging did not make you a winner, it just kept the lossess to a minimum, if do correctly, no??

Patrick

[sdjcom]

Originally Posted by pktruckdriver

Thank you

Gentlemen, thanks for the responses, as I was just curious on how best to possibly do this on the lower end of the financial scale.

But , always thought that hedging did not make you a winner, it just kept the lossess to a minimum, if do correctly, no??

Patrick

depends on the pay-offs of your main ticket and how much you can bet on all the remaining horses, a guaranteed pay-off but like many things,the dimininshing returns theory kicks in, i i don't know really what i'm talking about.

[hi_im_god]

in 2001 i had a live pick 3 going into the bc sprint with 3 horses that had the same closing style.

i hedged squirtle squirt as the most likely front running winner and it paid $96.

don't ask why i was betting 3 horses in the last leg with the same style or why i structured pick 3 tickets 3 x 3 x 3. i think i was obsessed with the number 3. or just an idiot.

i think generally if you think you're profitable you shouldn't worry about hedging. you're probably better off making win bets on the longer priced horses in your sequence. that's also a form of hedging.