24/1 Double Bet Update
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See Pics below:
So earlier in the year I said that the Patriots were value at 5.5 to win the Superbowl as a single, they can now be traded at 3.4 so if you took that remove liability.I also said that Alabama were value at 5.0 to win the College Football bowl they are now around 1.5 (market not liquid yet) to win it, so green up there.
I also tipped a 24/1 double on both of them, so here is what I am doing to remove my stake (wish I had more on!). Lay Alabama at 1.5 to cover the bet, if Bama lose there will be no loss (you can lay more than to cover if you wish to net a profit if they lose).
So around 50% of your stake, which in this case is £11 will be the extra liability.
The next step is if Bama win to lay the Patriots at 3.4, you can do this to level liability to make a nice profit no matter what. Or lay to win back your stake if they lose, so in this case £21 + £11 add in comission and you would lay Patriots to win £34 (£81.60 liability). So you take around £92 out of the profit from before but ride a big free bet potentially.
Or if it is a small stake you can let it run.
essentially the double bet is now in from our 25.0 odds back and layable at 2.88. Can now hedge for a massive profit or let it run.