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Chicago ABT Finals

Posted By: Steve Mellen
Date: Wednesday, 2 June 2010, at 7:40 p.m.

In Response To: Chicago ABT Finals (Bob Koca)

I'm pretty sure hedging is strictly illegal in professional sports.

Part of this may have to do with the fact that the prize money is "added money" from sponsors, as opposed to being posted by the participants in the event. But it also has to do with the integrity of the competition. The organizer wants to be able to honestly say that there's a million bucks on the line in the finals.

An example that's closer to home, where it's the players who put up the prize money just like in backgammon, would be poker tournaments. Generally you can cut a deal at the final table as long as all the players agree; this can be a hedge that pays a prize to a player who would otherwise bubble out with nothing, or it can be a deal that ends the tournament altogether (although the players would continue playing for the title where relevant). But I believe it's generally accepted that organizers have the right to put restrictions on deals in order to protect the integrity of the competition, although this is relatively rare in practice. For example, the organizers might announce that any final table deal must leave at least $_____ still in play for the winner to claim.

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