Okay so let's say I like Silva vs Bisping and am gonna bet Silva ML at -310. I have $100 I want to bet on this fight. I think Bisping's only chance of winning is via dec.
Silva ML is -310
Bisping by dec is +375
Not Bisping it'd is about -975 I think
How would you ration the $ that you thinks makes the most sense if you were going to hedge?
Currently Silva -310, Bis by dec +375, not Bisping itd -960. The amount to bet on each depends on your level of confidence for each. That said, you really have more confidence in 1 play and that's the one you should go with. Rarely is there value betting both fighters. But, if you really want to hedge, here's an example:
Bet 90 on Silva wins 29.03
Bisping by dec 10 wins 37.50
Potential outcomes on 100 risk:
Silva wins +19.03
Bisping wins by dec -52.50
Bisping itd -100
Bet 50 on Silva wins 16.13
Bet 50 on Not Bisping itd wins 5.21
Potential outcomes on same 100 risk:
Silva wins +21.34
Bisping wins by dec -44.79
Bisping itd -100
So, in this instance by using not Bisping itd as your hedge - if you really want to hedge- you'll increase your win on Silva and decrease your loss on Bis by dec, with same 100 loss on Bis itd. You'll find almost all of the time it works out thus way bc your paying less juice