What is this betting method called?

[greatoed]

i heard about this betting method on sportsbooks
a player would bet on the underdog on moneyline and on the favorite on the spread
for example if the Reds(underdog) are facing the Cardinals(favorite)
he would bet on the Reds $100 at +185
then he would bet $124 on the Cardinals at -1.5 +135 (just random odds that seems about right)
so now there are 3 outcomes
1 Reds wins (profit of about $61)
2 Cardinals win by 1 run (loss of about $224)
3 Cardinals win by more then 1 run (profit of about $61)
more often then not outcomes 1 and 3 will come up
does anybody have any more info on this method

[mikehost]

Not sure everyone understood your point. Only ONE of those 3 outcomes are going to hit each time, and you're only betting on outcomes #1 and #3. Hitting either of those 2 would give you the profit, and ONLY if the Cards won by exactly 1 run would you actually lose money.

With that said - Mick was right calling it a hedge bet. It doesn't really matter, though, because it WON'T work in the long run.

You have to win 4 out of 5 times in order to make money. Put it the other way - if you lose 1 out of 5 times, you're still making money ($20 total), but if you lose 1 out of 4, you're LOSING $41 in your above scenario. Just follow every game for a while in which this betting situation presents itself. See if that 1 run loss would have hit more than 1 in 4 times. I guarantee it does over time.