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Hedging

Posted By: Coolrey
Date: Tuesday, 21 April 2009, at 2:56 a.m.

In Response To: Hedging (Bill)

Get into the insurance business, Bill.

Offer your superior opponents odds. Its more fair and equitable. You insure yourself against a loss, and you pay a small premium for it... But ONLY if you win! At that time you will not be unhappy. Offer 6 to 5 odds... or 5 to 4.

If a good player agrees to hedge with you even, he is costing himself money. Say he is a 5 to 4 favorite vs. you, and you agree to hedge $500.

In 9 trials he will pay you 500 5 times, and you will pay him 500 4 times. So he loses $500 on the exchange, and 1/9th of that is $55.

It is like paying some bozo in the parking lot at the Wal-Mart who is panhandling $55. I am NOT going to do that as a pro, no how, no way.

Up and comers should pay their respects in this way also.

NOTE: Great player, inventor, successful investor, Backgammon GIANT, all time best highest rating on GG by over 200 points player:

Hugh Sconyers.

He watched Stick destroy me 11-0 in the Championship Consolation final. I had beaten Hugh in the Consolation QF the night before... So, Hugh, who is a remarkably intelligent person... Goes up to Stick, and says:

I believe you are a small favorite. Why don't we split the money 52-48%? Stick agreed. How easy was that?

Don't let pride cause a problem for you, offer some odds. The pro doesn't want to lose in the money round any more than you do... But he will find playing for it all preferrable to your idiotic offer of an "even" hedge when he knows he is a favorite... Though he may not be so crass as to tell you so!

The only one asking for something unreasonable in a hedge situation, USUALLY, is the weaker player asking for an even hedge. If you offer odds, you get what you WANT, and that is... You can't lose. You still might win, and out of those winnings you might have to pay an extra one or two hundred. Big deal, hold your trophy up for everyone to see and pay the pro his due.

Wake up, underdogs of the backgammon world.

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