Hedge betting lets you minimize your risk when placing a sports betting wager. However, all the variables that go into deciding when and how to place a hedge bet make it difficult even for experienced bettors to follow this strategy. That’s where a hedge calculator comes in.
A hedge calculator lets you enter the odds of your original bet, your bet amount, and the hedging odds for the opposite outcome of the one you bet on. It will then tell you exactly how much to bet to guarantee a profit no matter the outcome.
Let’s take a look at this tool in action and discover the best way to use a hedge calculator.
Hedge Calculator Examples
To understand how to use a hedging calculator, let’s imagine a scenario similar to what you may face in your own sports betting.
Say there was a basketball game between the New York Knicks and the Boston Celtics. The Knicks are underdogs with +200 odds, while the Celtics are given -150 odds. You want a meaty payout from backing the underdogs, so you put a $50 bet on the Knicks.
How would you place a hedge bet in this scenario? The hedging calculator can make it easy to figure out. Enter in your wager of $50 and your odds at +200, then the hedging odds at -150. The hedge calculator will give you a hedge bet amount of $90.
As the hedge calculator shows, a $90 bet at -150 would pay out $150, just about covering the $140 you put up on your original bet and hedge bet with a $10 profit. Now you’re guaranteed to earn some money no matter which team comes out on top.
How to Hedge a Parlay Bet
You may be familiar with parlays, where you bet on the outcome of multiple games with a single wager. Hedge betting can help you reduce your risk with parlays as well. To understand how, imagine you had a four-team parlay bet on the Broncos, Jets, Raiders, and Ravens.
The Broncos, Jets, and Raiders all win their games, so your parlay is starting to look good. However, the Ravens are the underdogs in their game against the Patriots.
To hedge your parlay, you can place a wager on the Patriots in the last game of your parlay. Now, no matter if your parlay falls through or not, you’ll be paid out either way.
How to Hedge a Live Bet
Numerous sportsbooks offer live betting odds that change depending on the circumstances in the game. You can take advantage of these live bets to hedge your bets when it seems like the game is going against your original wager.
Say, for instance, you bet on the favored New York Rangers when they went up against local rivals the Islanders. After the second period, however, the Islanders are narrowly leading and look to be on course to pull off an upset.
Live odds will update to reflect the change in the game’s likely outcome. You can hedge your bets by placing a wager on the Islanders. You won’t get as lucrative odds as if you had backed the underdog in the first place, but you can recoup some of the losses from your original bet.
Where to Place a Hedge Bet?
Here is our expert selection of the bookmaker where you can place a great Hedge Bet right away :
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Do you have questions about using a hedge calculator? Take a look at our FAQ for quick reference.
Why should I hedge my bets?
Hedge betting lets you minimize your risk when placing a wager. By betting on both potential outcomes of a game, you guarantee a payout no matter what the result is.
The tradeoff is that by investing more in your wagers, you cut into the profit you stand to earn. You could think of it as a tradeoff between risk and reward. Hedging your bets reduces the risk but also reduces your potential compensation in the end.
Do I need to use a hedging calculator to hedge my bets?
No, you don’t need a hedge calculator. You don’t need just a tape measure alone to build a house either, but both tools help you get the job done accurately and with minimal effort.
Using a hedging calculator is the simplest way to know how to place the right hedge bet in order to guarantee profits no matter the outcome.
Hedge betting lets you minimize your risk when wagering. By betting on both potential outcomes in a matchup, you’re guaranteed a payout no matter what happens. This can help you mitigate your losses if your bet is incorrect. In the best scenarios with the right odds available, it can even guarantee a profit for you no matter who wins a game.
Using a hedge calculator tells you exactly what you need to wager to hedge your bets most efficiently. All of the complicated math that goes into figuring out how to hedge a bet is simplified with an easy-to-use tool. Add it to the resources that you’ve amassed as a bettor, and you’ll be on your way to making high-value bets.
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