How old is said tire?

Front or rear?

What kinda 'biking' you engage in? MTB has more risk factors than road, but crashes anywhere hurt.

If'n it's fairly new (like this year's) I might put a patch inside the tire to reinforce any cuts to the fabric that gives it strength. If it's a front tire I'd chuck it; sudden blow-outs at speed will cost you more than a new tire's worth of pain & suffering.

(P. O'B., what pic?)