Is there a way to hedge a 5 team football parlay (pointspread) after winning the first 3 games? If it is possible, would the profit even be worth it? Any input appreciated, I get headaches even thinking about it :shrug:
parlay hedging question..
- Thread starter Phanatic
- Start date
Sure, it's possible if the 4th game ends before the 5th one begins. If these two games are overlapping then yes, I'd have a headache trying to figure it out too. 
Now it depends on whether you've taken favorites or underdogs for legs 4 and 5.
If you've taken underdogs, I'd bet the favorite moneyline, to win about (guessing here) an eighth of what you'd win on the parlay?
Say a $100 parlay to win $2000.
Bet $500 on the 4th leg's fav with a -200 ML to win $250. Adjust the money depending on what the ML is, and as you feel comfortable with. If the favorite wins and covers you net $150 profit ($250 for the straight win - $100 for the parlay loss). If the dog wins outright then you've cut $500 off of your potential parlay winnings, but you're still in line to net $1500** profit. And if you get really lucky and the fav wins but doesn't cover, then you've won $250 on the straight bet AND your parlay for $2000** is still alive too.
If you've taken favorites then you'd have to hedge with a bet on the pointspread dog.
$100 parlay to win $2000.
Bet $550 on the dog to win $500. Dog covers and you are up $400 net. Fav covers and you're still alive for $1450** net profit from the parlay.
** = of course you won't get these amounts if you repeat the hedge on the 5th legs.
Now it depends on whether you've taken favorites or underdogs for legs 4 and 5.If you've taken underdogs, I'd bet the favorite moneyline, to win about (guessing here) an eighth of what you'd win on the parlay?
Say a $100 parlay to win $2000.
Bet $500 on the 4th leg's fav with a -200 ML to win $250. Adjust the money depending on what the ML is, and as you feel comfortable with. If the favorite wins and covers you net $150 profit ($250 for the straight win - $100 for the parlay loss). If the dog wins outright then you've cut $500 off of your potential parlay winnings, but you're still in line to net $1500** profit. And if you get really lucky and the fav wins but doesn't cover, then you've won $250 on the straight bet AND your parlay for $2000** is still alive too.
If you've taken favorites then you'd have to hedge with a bet on the pointspread dog.
$100 parlay to win $2000.
Bet $550 on the dog to win $500. Dog covers and you are up $400 net. Fav covers and you're still alive for $1450** net profit from the parlay.
** = of course you won't get these amounts if you repeat the hedge on the 5th legs.
1. Football - Iowa - spread -11 (-110)
for the entire game held on Nov 16 at 12:05pm [winner]
2. Football - Oklahoma - spread -37 (-120)
for the entire game held on Nov 16 at 2:00pm [winner]
3. Football - Alabama - spread -1? (-110)
for the entire game held on Nov 16 at 9:00pm [pending]
4. Football - Minnesota Vikings - spread +7 (-120)
for the entire game held on Nov 17 at 1:00pm [pending]
5. Football - Arizona Cardinals - spread +11 (-110)
for the entire game held on Nov 17 at 1:00pm [pending]
Thanks for the reply. I dont even have the first three yet as shown, and I should have mentioned that legs 4 and 5 ARE indeed overlapping. I was just curious as I've been in a rut of late and would like to get something back into the till, lol. It's the overlapping thing that was giving me the headache. I'll remember the advice.. much appreciated.
for the entire game held on Nov 16 at 12:05pm [winner]
2. Football - Oklahoma - spread -37 (-120)
for the entire game held on Nov 16 at 2:00pm [winner]
3. Football - Alabama - spread -1? (-110)
for the entire game held on Nov 16 at 9:00pm [pending]
4. Football - Minnesota Vikings - spread +7 (-120)
for the entire game held on Nov 17 at 1:00pm [pending]
5. Football - Arizona Cardinals - spread +11 (-110)
for the entire game held on Nov 17 at 1:00pm [pending]
Thanks for the reply. I dont even have the first three yet as shown, and I should have mentioned that legs 4 and 5 ARE indeed overlapping.
I was just curious as I've been in a rut of late and would like to get something back into the till, lol. It's the overlapping thing that was giving me the headache. I'll remember the advice.. much appreciated.