I've got $50 on the Pirates to win the WS at 60:1

I live in Pittsburgh (beauitful city, by the way despite what many people think!) and was in Vegas for March Madness last spring. I bet on the Pirates to win the NL central and then put $50 on the Pirates to win the World Series at 60-1.

I don't really see them winning the World Series and have a few hours to decide whether or not to hedge.

I would need more info on the hedge. Are you just betting a person in the office $50 that they don't win the WS? Or are you laying that they will not win?

I am more of a arbitrage person than Wiz and will take a for sure win over a possible win every time. Just like using stock options to lock-in a positive outcome I see it as a good way to bet.

Is that rubber duck still across the river tonight?

Hedging is for gardeners, not gamblers.

Let it ride, man.

I'm also a hedger and like the options analogy. Although, the $14 calls that I sold against most of my LVS are still haunting me. Although, I paid $3.01 for it in March 2009, it's at $67 today and has also paid roughly $5 in dividends since 2009. Actually, I'm short LVS OCT$65 calls right now against what I have left. Other than that, I'm all index funds until I sense another doom and gloom situation like that.

Yes, the duck is here for a few weeks. People love the duck!

I love Vegas and am a very small scale match play exploiter, who plays $3 craps, and drinks as much as possible. So, knocking a few hundred off of my next flight would feel great. I bet $11/game on each of the opening round of March Madness and $22/game on the Saturday/Sunday games. I also played about 20 hours of $3 craps that weekend, but that's the height of my action. I had some positive variance and threw the $50 down just before leaving.

I usually only spend about $200-$300/day on a Vegas vacation, excluding the room.

I voted the last option because it's kind of an open ended hedge. If you lose this hedge, it's not like you automatically win, as in if it was the WS and you bet against the Pirates for a guaranteed win either way. That's entirely my mindset, you could find yourself out the original $50 + ($200, however much you'd bet against them tonight).

Good luck.

The duck is the most insane thing we have had here in some time. Crazy boat ride to see it on sat.

You need to wait a bit. If they make the NLCS, go for it.

I was in Vegas last weekend and put $30 on the Reds to win the World Series at 13-1. Probably a donation, but if they make the playoffs it should be fun to watch the games.

Thankfully, or so it seems right now... I didn't hedge. My current plan is to hope that the Pirates beat the Reds and Cards, then take a closer look at my options.

Let's Go Mets :)

Quote: s2dbaker

Let's Go Mets :)

"D-a-a-rryl.......D-a-a-rryl"

I just got home from the game. It was the best sporting event that I have ever been to.

When the fans were chanting cueto and then he dropped the ball. OMG, it was electric. Then the next pitch was a home run.


I forgot to record the game and would to love to see what the crowd sounded like on TV. Does anyone know if TBS replays games or if there is a way to see it.


Oh and to answer your question. For me 3k is a lot and so is $1500 so I would find a way to hedge for a guaranteed win. It may be a little too early for that though. You may have to wait for the next series to finish and hope that the Pirates make it through.

Quote: GWAE

I just got home from the game. It was the best sporting event that I have ever been to.

When the fans were chanting cueto and then he dropped the ball. OMG, it was electric. Then the next pitch was a home run.


I forgot to record the game and would to love to see what the crowd sounded like on TV. Does anyone know if TBS replays games or if there is a way to see it.

Try mlb.tv