Its like most people say.
1. How many units is it to you.
2. How much does the money matter to you.
3. Psychologically some people get this close with a future and want to be guaranteed a profit.
I think if it like this depending on what your answers are to the above questions.
Washington has a 40ish percent chance to win based on last number I saw. Your 100 dollar ticket has a fmv of around 320 dollars right now.
Sometimes when people want to hedge they over value what they think their ticket is actually worth.
You could find a creative way to hedge with a prop that is highly correlated. Similar to if you thought Oregon would beat Washington instead of getting Oregon -350 just get bo nix +115 to win Heisman because he likely wins if they won that game.
But.... overall you could throw 200 on the Michigan ml and free roll to where a husky victory gets you 500 profit and a loss cost you nothing but otherwise me personally you came this far.... let it go