You need to ask yourself how much the money matters to you whether u hedge or not ? Eg If u were to hedge it and make a certain profit how much do u want / need that certain money ?
If u don't really need or want it overly then I would let it ride.
I was faced with a very similar scenario a few years back and here is a summary of what I did :
any sure profit will do as i am building up a very small bank after a really bad run from sydney kings loss versus 36ers in NBL couple of weeks ago
but on the other hand i like Gonzo chances
by the way i can get 1.14 on Federer which is better than i expected
If at all possible that could be a option for you too (live betting).
live betting is not an option ..don't like betfair.. never liked . maybe if centrebet sometimes offers it.