Betting Talk

Mattress Mack Hedge

StricknineStricknine Senior Member
edited October 2019 in Sports Betting
This could be the case study of why not to hedge. This guy could potentially piss away millions of dollars hedging. Supposedly, he is getting advice from the guys at LV Sports Advisors. Yuck.

Comments

  • R40R40 Senior Member
    edited October 2019
    The guy is hedging? The whole reason he is making the bet is because he has money to throw away. The pressure is getting to him.
  • kmherring3kmherring3 Senior Member
    edited October 2019
    Well he is sitting there with open liability of more than 20 million. Thankfully the mattress is one of the highest marked up items in consumer goods. So in that regards the hedge makes some sense. I think the hedge is really about generating PR. I really wonder what the value of the news coverage he is getting is worth.
  • R40R40 Senior Member
    edited October 2019
    The value is entirely the attention he is getting. He gets to be a rich guy and glad hand and talk it up. It's all about the sweat.
  • StricknineStricknine Senior Member
    edited October 2019
    He is estimated to have around $20 million liability in refunds if astros win. He has bet around $10m on Astro’s to win at various books with various prices. He has generated a lot of publicity so that is great for him.

    A jewelry store in Wilmington, NC runs something similar. If you buy the wedding ring there and it rains on your wedding day, you get a full refund. Needless to say, most people buy the ring there
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