Update: Michigan defeated Washington in the CFP National Championship game 34-13.
Cash out, hedge or let it ride. Those are the choices facing Action Network's own Mike Calabrese ahead of Monday night's College Football Playoff National Championship between the Michigan Wolverines and Washington Huskies.
Before the football season began, during the dog days of August, Calabrese placed a $21 wager on a cross-sport parlay — Washington to win the national championship at +5000 odds and Lamar Jackson to win NFL MVP at +1400 odds — with a potential payout of $16,065.
Now, 159 days since he placed the bet, Jackson ended the NFL season as the odds on favorite to win MVP (he was -20000 as of Sunday despite sitting in Week 18) and Washington is one win away from hoisting a championship trophy.
Entering tonight's game, ESPN Bet is offering Calabrese a $5.1K cash out offer.
The Huskies are 4.5-point underdogs. So, is he cashing out? Hedging?
Nope. He's sticking with his bet, despite the offer from ESPN Bet.
Well, ESPN Bet finally came to the table with a tempting offer. After speaking with my wife, we've come to the only decision that makes sense for us, and who we both are as gamblers.
We're letting it ride. No hedge. See you all Monday night. #PurpleReign#BowDownhttps://t.co/vGRdkdVYjmpic.twitter.com/kbLkbpBMgu
— Michael Calabrese (@EastBreese) January 2, 2024
Calabrese jumped on Sunday's episode of the The Favorites podcast with Chad Millman and Simon Hunter to explain why he made the bet and why he's sticking with it. Check out his thoughts below (40:25 mark).
While Calabrese isn't hedging, he does have other bets on tonight's matchup that correlate with his potential $16K parlay bet.
In his National Championship props article, he's betting two double result props: Michigan to win the first half/Washington to win the game (+1200) and Jalen McMillan TD + Washington to win by 1-6 points (+900). He also likes Michael Penix Jr. to throw at least three touchdowns (+220). But tonight will be all about that parlay.
"Why would I pull away from it now? It just makes too much sense to let it ride," Calabrese said.
