Current Events, Frontlines

Frontlines of the Non-digital: Hedging Our Bets

So I’m in a bit of an interesting quagmire: remember my post a few weeks back about the NCAA tourney pools? Well, low and behold, I’m in 4th place in a 250 person pool with quite a bit of *cough* pride on the line (enough for the IRS to be interested, let’s say). It’s an interesting dilemma that might be best phrased in this way: if someone walked up to you on the street and offered you a month’s rent but you had to flip of a coin to get it, would you risk that OR take half of a month’s rent guaranteed without having to flip the coin? This is basically what hedging a bet is all about, because only fools would flip the coin.