How do you feel about hedging your bets? I think it should definitely be part of your strategy. Like anything related to dancing with Papa Vegas, it’s tough to tell when to do so, and when not to. Take for example the first Monday nighter.
There’s a couple different ways to “hedge a bet”. With Draft Kings, they offer the early cash out option. Like if you’re winning your bet early, you can decide to cash out early… for less than the full amount of course. I’ve done this a handful of times; some times I shorted myself, some times I got money when I would have lost the whole shabang. On MNF, I was on the Bills; I did win a piece because the Bills went up by 10 points, so it was an automatic win. I’m glad I got that. When the Bills were up by those 10 points, I could have cashed my other bets, but why would I? Aaron Rodgers was out of the game; Zach Wilson was in. This game was in the bank, no? No, it wasn’t. So, those early bucks that I could have had were gone, as was my original bet, but how was I to know that?
On Thursday night, I mixed in a little more hedging. I was on the Eagles -6.5; yeah, you know what happened there. An ugly back door cover by the Vikings. I was actually on an early win bonus bet with the Vikings, which I lost as well. However… I did place a little money on the Eagles ML, which cashed, and I took the Vikings with the points at the half, which turned out to be smart. So, I minimized my losses; I was proud. Yeah, I was pissed at the back door cover, but it’s not the first time or last time I’ll see that. The fact that I grinded something out of that BS, made me feel good. Maybe, I can get this ship going full speed ahead again. I feel like I’ve stopped the bleeding, but now, time to start the winning.
I’ve hedged my bets a few times in the NBA. Like when I took a team +8, they’re up big at the half, and now I took the other team +8. This gives me a 16 point range to hit BOTH bets; this is the ideal “hedge”, although not sure that really fits the definition. You have to be flexible, try different stuff. You have to have a good idea going into the game you have money on, but you need to be willing to admit your wrong, and change gears… the earlier you realize that, the better. This will save you money in the long term. But like most things, easier said than done.
So we stick at it. I’m liking the Jaguars this week against the Chiefs; that’s probably my strongest play of the week, which means it will probably tank… haha. Leaning Rams plus the points too; those Niner Rams games are usually pretty closely played. What about the Bears? Yeah, what about those Bears???
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