Auburn Fan Stood To Win $50,000 From $100 Bet, Didn’t Hedge
12 years ago

No matter what he says publicly, Auburn fan Mark Skiba had a shittier night than you did last night. Sure, it started off pretty awesome, as he watched his Tigers jump out to a huge 21-3 lead over Florida State in the BCS National Championship game. Standing to win 50 grand if the lead held up, not to mention the bliss of experiencing your team win a natty, Skiba was riding high, probably throwing around high-fives and clinking beers with his buddies.

Skiba’s bet was placed before the season, when Auburn’s odds of winning the title were 500-to-1. He laid down $100 to win $50,000, and for much of the game, it looked like it would hold up.

From ESPN:

Last January, Skiba’s father was on vacation in Las Vegas when he placed a $100 bet for his son on Auburn to win the title game at 500-to-1 odds.

The Noles then gained momentum in the game and closed the gap, and that’s where Skiba’s night turned south. Obviously, Auburn lost the game in a thriller, and he didn’t win shit. Nothing. He chose not to hedge his bet.

Skiba watched the game in Vegas with a buddy.

So after consulting with his high school buddy, accountant Brian Burnett, who is an Alabama alum, the two made the trip to Las Vegas for the game but decided to let the bet ride.

Skiba, dude, your accountant friend Brian Burnett sucks as a friend and as an accountant. And taking advice from a Bama fan on your Auburn bet? How do you not hedge that bet? Really, how do you not hedge that damn bet?! Just throw down 5 grand on FSU and be done with it. At least you’d walk away with enough cash to pay for your Vegas trip, enough alcohol to help you forget about the game, and enough to pay for the Spearmint Rhino’s finest to grind your pain away.

“I regret nothing,” Skiba said after the game.

You’re a liar, Mark Skiba.

[via ESPN]

Image via OddsWriter

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    1. bourbon and coke

      I mean seriously. What an idiot. If he had gone to a CUSA school he would have learned that freshman year.

      12 years ago at 2:30 pm
  6. kickedoffcampus

    It actually was a reasonable decision… He would have had to bet 35k on FSU to win 10… Which would have turned a possible 50k payday into a 15k payday on his Auburn bet. He probably should have taken in game action once the Tigers went up 21-3 but other than that it wasn’t such a no brainer.

    Now lets go find your mom.

    12 years ago at 1:03 pm
    1. Number1GDI

      He should have listened to the advice of the masses of vegas people giving him advice to hedge when the line first came out at -250 instead of waiting. The line closed at -400, which is a difficult hedge indeed.

      The ideal situation would be a small hedge at the initial -250, and play an in game wager.

      Or contact the sportbook and see what kind of deal you can cut. They are businessmen, and the idea of a $50k liability sitting out there does not exactly make them smile. He probably could have arranged a deal, thereby reducing the liability of the sportsbook and locking in profit.

      Or be an idiot and only make $2k.

      12 years ago at 3:52 pm
  7. Number1GDI

    FTR, he did hedge his bet: http://www.sportsgrid.com/ncaa-football/mark-skiba-doesnt-hedge-auburn-futures-bet-loses-50k/

    TL;DR he hedged $2000 at even money. That doesn’t make him any less of an idiot for not hedging more. The mentality of “I started with nothing, so I don’t give a shit” does not explain away the fact that you had a LOT of profit sitting in front of you and you let it rot in hell. If he was live betting, and he put $2k at even money, when the money line got to +265 on FSU, he could have dropped another 5k on there and been guaranteed over 10k pure profit regardless of outcome. What a blind homer.

    12 years ago at 3:49 pm
  10. MrStealDornsMom

    I had your mom over to watch the BCS bowl, I BET you know how that ended Dorn.

    12 years ago at 6:19 pm