Posted by Dr Fro 8:19 PM

Below is a summary of my recent college football pool success. There are still a couple unknown gratuities, but other than that, this is final:

Poindexter Pool
Format = Pick all Top 25 games against the spread.
Entry Fee = $31
Entries = 166
Weekly winnings = $300 (three separate first place finishes at $100 a pop)
Season winnings = $523 (won third place out of 166 for cumulative score)
Minus gratuity = $23
Minus cut to a friend that provided a hedge $100
Total Profit = $669


Higdon Pool
Format = Pick 11 preselected games straight up
Entry Fee = $50
Entries = 129
Weekly winnings = $200 (two separate second place finishes at $100 a pop)
Season winnings = $800 (won first place out of 129 for cumulative score)
Minus gratuity = $
Minus cut to a friend that provided a hedge $150
Total Profit = $800

Poolmeister Pool
Format = Pick 10 preselected games against the spread.
Entry Fee = $50
Entries = 25
Weekly winnings = $25 (one first place finishes at $25 a pop)
Season winnings = $100 (won third place out of 25 for cumulative score)
Plus a cut from a friend to whom I provided a hedge $30
Total Profit = $105

Watt Pool
Format = Each player has 20,000 in Monopoly Money. You bet on games just like you are betting with a bookie.
Entry Fee = $100
Entries = 20
Weekly winnings = n/a
Season winnings = $1,600 (won first place out of 20 for cumulative score - turned 20,000 into 118,450)
Minus cut to a friend that provided a hedge $200
Total Profit = $1,300

So for the 4 season-long pools, I was 4 for 4 in the money. Then I did 4 pools that were only for the bowls. I approached these largely as a hedge against my season-long pools and, not surprisingly, I went 0-4, losing $65 in entry fees

So that makes:
+ $669
+ $105
+ $800
+ $1,300
- $65
= $2,809

Not bad.

Three mentions of "hedges" above just meant that I traded x% of myself for x% in somebody else. One hedge (Watt pool) was almost the same thing, but slightly complicated by the fact that I traded a position in one pool with another guy's position in another pool. The reference to using the other 4 pools as headges against my 4 main pools is even more complex. They weren't complete hedges. For instance, in one main pool, I had all favorites straight up, but in another I had all dogs plus the points. Thus, it was still theoretically possible to win all games in both of those pools. Not a "perfect" hedge..quite a bit better, really. Anyway, I say all this because I have the long-established position about not hedging yourself in certain situations, a topic that deserves its own post someday.

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