Situational Hedging

[JackS]

This is a situation I had today at Calder. In the 11th (1st half of the DD)-I keyed the 12-1 two horse to three runners in the 12th. The 9 was the ML favorite and I decided to beat him with something a little longer. My play was the 2,3,4.- Suprisingly , the 4 went off as the favorite and my $2 DD with him would pay $96. The 2 and 3 were both paying $186 for two dollars in which I had the #3 for a $5 bet. This race changed when the #3 became a late scratch. My hedge now became the ML fav #9 on top in a 3$ Exacta with the #2. My tickets now reflected the consolation on the #3 ,a DD win with 2or4 and an Ex win 9/2. The hedge 9/2 was the exacta and payed alittle less than $60 for the $3 bet. Not completely happy not to have had a chance at $500 plus with the #3, but happy in a way that I did manage to pull off a slight win with the hedging.

[sq764]

I like to hedge, with 2 conditions:

1) The wager i am protecting would result in a substantial profit

2) The hedge would:

a) Not add too much in additional capital to the original wager, and

b) Would provide at least a 50% profit on the the entire layout for the race..