Los Angeles bar group reveals genius reason for $60K bet against Dodgers

Not everybody in Los Angeles was upset about the Dodgers’ playoff collapse.News broke earlier this week that an anonymous Los Angeles bar group had bet $60,000 that the Dodgers would lose the NLCS.

The group operates 25 bars, many of which are located near Dodger Stadium.Why would this group bet against their hometown team? They were hedging.

On Thursday, revealed the bar group’s reasoning for the bold decision was revealed, per Los Angeles Magazine.It explained that if the Dodgers didn’t make it to the World Series, the money they earned from the $60,000 bet would offset at least some of the ensuing loss of foot traffic and revenue they otherwise would have received.And if the Dodgers did win the NLCS advance to the World Series, that foot traffic and revenue would have more than have made up for losing the $60,000 bet.This prediction paid off.

The bar group nearby doubled their $60,000 bet when the Dodgers were swept in the NLCS.It’s hard to imagine that many Los Angeles residents will be eager to watch a Milwaukee Brewers vs.Tampa Bay Rays World Series matchup.

But this bar group doesn’t have to worry about that, given their winnings earned from the Dodgers’ loss....