Hedging is entirely a personal decision. What you do is something you need to do depending on your personal risk management.
As I am sure you are aware, we currently have Russell Henley to win this week’s PGA Tour Event at 50-1 odds and he is currently leading by 6 strokes. Here is my personal ticket1:
If he were to close this out we would be in line to win 12.5u and get our initial investment back for a total of 12.75u.
Currently, there is a perfect hedge available on multiple books (I have checked) and on BetOnline the Hedge is +435.
I am going to hedge by betting 1.25u on the Field.
If Henley, wins we will walk away with 11.5u total2
If Henly, does not win we will walk away with 5.1875u total.
This will leave us with close to 6.4u of risk still rolling on Henley.
Let’s hope Russell win’s his 4th PGA Tour event!
I know many handicappers do not bet their own bets and I think it is important to always be willing to show folks that you are risking at least as much as you are telling them to.
Edit note. This was originally listed as 11u and update to the correct amount of 11.5u