Sports
by Brandon Wenerd on October 17, 2011

via Philly.com:

Since the bet was introduced, $370,000 had been wagered on it with no return. Before Week 5, $12,100 was wagered on the parlay. So, the Delaware Lottery actually lost $87,900 on the Week 5 bet. Still, the lottery is $270,000 in the black overall from the 15-team parlay wager.

The Eagles beat the Redskins and covered early in the day. The Ravens were minus-4 over the Texans on the card in the late game. Baltimore led just 16-14 entering the fourth quarter, but won going away 29-14, easily covering the spread. The Texans played without ace pass rusher Mario Williams and top wideout Andre Johnson. The spread actually went up to 8 1/2 at one point before settling at 7.

So, the player could have hedged his bet by using the Texans plus the points in a single bet. Then, he would have won something no matter the result or even won both sides if the spread fell in the middle of his two bets. As it turned out, not hedging would have been the best course of action. If he did not hedge and just went with the parlay, he showed a profit of $99,995, a rather nice return on a $5 investment.