Quote:
Originally Posted by westernmassbob
Never heard of such a thing but maybe Europe already has something in place? It got me thinking based on a conversation with a relative recently. He asked me how I felt about “ hedging” bets and if I’ve ever done such a thing. It would seem like a smart move in certain circumstances but what if the opposite of hedging was available? One example was a pick 5 I played last year at Remington park. Going into the last race in a 10 horse field I was alive to 4 pieces all averaging about 6k. I would have been happy to sell my ticket for 1k if there was a service that did this. Of course I lost and ended up with nothing.
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In the UK it is very common to be able to "cash out" any bet that has not yet been decided. This includes single bets that have not yet run so if you bet $100 @ 10/1 and the price moves into 5/1 you would often be able to cash out for a profit before the race. Of course the value offered by the bookmaker to cash out is always in their favour by anything from 2% to 20% depending on the market and the bookmaker.
