Friday, October 24, 2008

At least some people know how to hedge!

Great story and had finance and world series ties.

Cashing in on hope - MLB - Yahoo! Sports: "Marger, a lifelong St. Petersburg resident and season-ticket holder since the team’s inception in 1998, stands to win $25,000 on a $100 bet he placed at Bally’s last November during a quick swing through Las Vegas.
“I figured they are my team, so it was worth $100,” he said. “I thought about it when I got there, and the odds were 200-to-one (that the Rays would win the World Series). I dilly-dallied for a day and the odds jumped to 250-to-one, so I went for it.”"
Now that the Rays are in the World Series, Marger knew what to do. He hedged. From the same article:
"I put down a bet on the Phillies before the Series,” he said. “If they win, I’ll take home $3,000. Had to do it, you know?” "
Thanks to Charlie for this link! (who like me is a Mets fan and wondering if we can get 250:1 odds soon.)

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