RandBall: Auburn fan hedging his 500-to-1 bet on the Tigers
- Blog Post by: Michael Rand
- December 11, 2013 - 6:12 PM
We wrote a couple weeks ago about the lucky souls who put money on Auburn to win the BCS title before the season started, at staggering 1,000-to-1 odds. That means that if they bet $100, they will win 100K if the Tigers beat Florida State.
Not a bad payoff.
But ESPN's Darren Rovell tracked down someone who put down that size of a bet on 500 to 1 odds ... and he's doing the smart thing (if not the really fun thing):
In the hours after the game, Skiba contemplated his options. He could go all or nothing, hope that Auburn wins the title and he would take home $50,000, or he could be guaranteed money by hedging and placing a bet on FSU, which is favored by nine points.
Ultimately, Skiba decided he will close the loop on his bet by heading to Vegas with a couple of buddies -- including a friend who is an accountant -- and place a bet on the Seminoles that he says will maximize his winnings and take some of the risk off the table.
That's a pretty sweet bet, regardless.
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