ADVERTISEMENT

OK, who here made the bet

I was just wondering what the odds were in August for placing this bet. I mean, by October 11 they probably had already dropped considerably from what they were at.
 
I made a bet at Planet Hollywood for $1,000 at 500 to 1. Plus I have two others for a total potential win of over $600k
 
  • Like
Reactions: HawkeyeSmitty4
Can you hedge now to ensure you win at least 100K?
No. I've done the math. The big part of it is will be dogs or not throughout. If were to be favored every game out, it would make sense to hedge starting next week. However, in the current environment, I'll probably hedge the last two games only (assuming we make it there). There are also tax implications as well. If you hedge the semifinals and Iowa wins, you lose the hedge bet. The problem is, that bet will take place on December 31st, whereas your win will happen in 2016. It gets pretty complicated. Needless to say, if we get to the playoff, I'm gonna be making some serious jack :)
 
  • Like
Reactions: icu81222
500 to 1 doesn't seem nearly as high as it should have been.
It started the year 150 to 1. When I made the 500-1 bet, we were 3-0 and about to play Wisconsin. I know that makes no sense, but that's what happened.
 
For the last 6 years, I would make a $20 bet on Iowa to win the National Championship. After last year, I was so discouraged with the team I decided to end the tradition.... Idiot!

Just before kickoff of the Illinois State game, I opened up my William Hill app (yes, in Nevada, William Hill has an app where you can bet on your phone as long as you are inside state lines) and saw Iowa at 500 to 1. I decided to be a high roller and make a $2 wager.

So if the Hawks keep rolling, I'll win $1,000. Not bad for a $2 bet, but I sure wish I made the $20 wager!
 
No. I've done the math. The big part of it is will be dogs or not throughout. If were to be favored every game out, it would make sense to hedge starting next week. However, in the current environment, I'll probably hedge the last two games only (assuming we make it there). There are also tax implications as well. If you hedge the semifinals and Iowa wins, you lose the hedge bet. The problem is, that bet will take place on December 31st, whereas your win will happen in 2016. It gets pretty complicated. Needless to say, if we get to the playoff, I'm gonna be making some serious jack :)

On a futures bet does the "loss" occur when a team is eliminated or when a different team has won? If it's the latter your hedge could just be to bet the other 3 teams to win it all right? Then the loss and gain occur at the same time.

This is the stuff about gambling that's fascinating to me. The rest is just luck. It's to bad there's not an open market you could cash in your ticket to right now.
 
ADVERTISEMENT
ADVERTISEMENT