I have a question about hedging bets. Random House and a dozen or more friends have done a lot of editing and fact-checking for DOC, but I don’t think any of us actually plays the horses. So I’m not 100% certain that I got this right:
“We hedged our bets. Kate says they’ve been doing that on French racetracks for years. You take a hundred dollars and divide it. Say, twenty to win at long odds. Then make a couple of side bets, shorter: thirty to come in second or better, fifty to come in third or better. Unless the horse is out of the money, there’s a payoff. If he wins, you do real well.”
Did I screw that up? Please get in touch if you know — either tell me it’s right so I can relax about it, or correct it so I won’t look like an idiot in print! Email me or leave a comment.