I started the exact same thread below
I started the exact same thread below
I thought they would both be a couple points higher than what you have there, and that the ML's would be up around -180 or -200. I'm starting to think that might be too high though.
Here are your scenarios. Let's say you bet 100 to win $5000 on OU (50-1). If you wait till the final game to wager on MD or KU, you *might* have to lay as much as -200. That is, put $3000 down to win $1500 (winning 2K if OU wins, 1500 if other team wins).
But, if IU beats OU, you're chit out of luck every which way.
To guarantee yourself at least $750, you have a couple options, as I see it.
1) Put about $300 on IU SU against OU. That will win you $750 (if you can get +250, which you can). If they win, fine. You're +750. If they lose, now you can make your 3K bet on OU's opponent, winning overall $1700 if OU wins, $1200 otherwise. This is probably a good solution if you think the lines are only going to be about -150 or less, or if you think IU has a legitimate shot at beating OU.
2) OR if you really want to hedge things, put about $400 on IU at 10-1, $1500 on KU at 9-5 and $1500 on MD at 2-1. That way, you'll win $1600 if OU wins, $1000 if IU wins, $1100 if MD wins, and about $900 if KU wins. This guards against OU losing or a big ML coming down on MD or KU vs. OU.
Alternatively, you can bet the 1500 on KU and MD right now, put 400 on IU at +250. If they win, let the 1400 ride at what will probably be +270 against KU or MD for an even better return than 10-1 on the original $400.
I was lucky enough to put a wager on MD at 8-1 at the same time I got OU at 50-1, so I've not had to risk as much to hedge all my bets. This hedging might sound like chicken chit, but guaranteeing yourself +10 units when your 50-1 shot makes it to the final four is part of future betting on the tournament.
TheShrimp
PS: if you want to risk a little more with a chance at higher return, you could bet about $1100 on IU with the ML and hope they cover but OU still wins. Of course you lose the whole thing if they get blown out...