There are varying opinions on how to handle a futures bet that was made before the season.
Now it comes down to the last game.
If you have either Kansas City or San Francisco betting tickets, or both, here are some ideas for you to consider at the top-rated online sportsbooks.
San Francisco 49ers vs. Kansas City Chiefs
Sunday, February 11, 2024 – 06:30 PM ET at Allegiant Stadium
Hedging bets depends upon the bettor’s point of view, how much the original wager was, and many other factors that we will touch upon.
For example, if Detroit had not blown their 17-point lead at San Francisco before the season, the Lions would have been about +2200 on for a $100 wager.
If you made that bet and were not a staunch Detroit fan, it might have made sense to place a bet of $500 to $1,000 on the Kansas City money line (if you had the kind of money to wager). This would ensure that you walk away with a profit instead of leaving with empty hands and your cash tied up for over five months.
That did not happen, which was tough for Detroit backers.
Understand Your Betting Thought Process
When it comes to betting sports, do you like to take risks or are you more conservative? Betting futures suggests you are somewhat of a risk taker to tie up your money for that long a period seeking a quality payout. But do you prefer to take teams with shorter betting odds that could give you a better chance for a payout or are you looking for long shots of 25-to-1 higher after the big score?
This matters because it should define your approach to hedging or not. If you are a “let it ride” type of person, that answers its own question: skip hedging. But if you are in this to make money, it is better to walk away with a profit than nothing.
Another big factor is each person’s financial situation.
If you normally bet $50 to $100 a game and would consider hedging to get a decent payout if you were to lose your original wager, do you have the cash to make say a $500 bet, without hurting yourself? Betting smart is almost always the right choice.
What to Do if You Bet Kansas City at +600
If you put down a Benjamin Franklin on the Chiefs you are looking at a $600 payout. That is none too shabby.
From one perspective, it doesn’t make sense to possibly cut into payout, which all things considered is not extravagant at 6/1. In this case, backing Patrick Mahomes as an underdog is hardly a bad choice.
If you bet $1,000, that could be a different story, because you are talking about a $6,000 profit.
- $1,000 Bet x 6 = $6,000
The question you have to answer is: do you have three grand to make such a bet, and what if you take the 49ers on the money line? Additionally, the odds will cut even further into your possible profit.
What to Do if You Bet San Francisco at +900
With the Niners, and using the two scenarios as mentioned, a stronger case could be made for hedging against San Francisco if you choose to. It starts with your payout being larger, thus, there is more risk of losing.
The other benefit of taking Kansas City as the underdog is that the odds on the money line are more favorable to you in what is expected to be a close contest.
The most important thing to remember: only do this if you are comfortable in doing so.
What to Do if You Bet Both the Chiefs and 49ers
It is your lucky day, you cannot lose! At two $100 separate bets, you are taking home either $500 or $800 for being this smart a person.
And that is how you hedge. Congrats to you and enjoy the Super Bowl!
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