| Hedge | Stake | Original | Hedge |
|---|---|---|---|
| No hedge | $0.00 | +$2,000.00 | −$100.00 |
| Equal profit | $1,100.00 | +$900.00 | +$900.00 |
| Half | $550.00 | +$1,450.00 | +$400.00 |
| Break even | $110.00 | +$1,890.00 | $0.00 |
Hedging costs you $1,100.00 of upside if the original wins, and turns the $100.00 you'd lose without it into +$900.00.
A hedge is a bet on the other side of one you already hold, so some money comes back whichever way it goes. It's most useful when the original is close to paying a lot: the last leg of a parlay, or a futures bet that has made the final.
Equal profit
Bet enough that the hedge pays exactly what the original would. You net the same either way.
Half
Half the equal-profit stake. Less locked in if the hedge wins, more kept if the original does.
Break even
The smallest hedge that gets both stakes back if the original loses. Everything else rides on the original.
Example: $100 on a parlay at +2000 returns $2,100. A $1,100 hedge at −110 also returns $2,100, so with $1,200 staked you clear $900 whichever side wins.
The cost is upside you give away, and the hedge price usually carries the book's margin, so a hedge loses a little value on average. Save it for when a guaranteed amount matters more to you than the extra, and shop for the best price on the other side.
Using the hedge calculator
Work out how much to bet on the other side of a bet you already hold, so you lock in a profit or limit a loss whichever way it goes.
- 1Enter your original stake and odds, and the odds available on the other side.
- 2Pick a hedge: equal profit, half, break even, or your own stake.
- 3Compare what you get back if the original wins and if the hedge wins, and the hedge sizes side by side.
Questions bettors ask
How much should I hedge?
For the same profit either way, bet the original's total return divided by the hedge's decimal odds. $100 on a parlay at +2000 returns $2,100; at −110 (1.91) that's a $1,100 hedge, and you clear $900 whichever side wins.
When should I hedge a bet?
When a guaranteed amount matters more to you than the bigger upside: the last leg of a big parlay, or a futures bet that has reached the final. Hedging usually costs a little value on average, because the hedge price includes the book's margin.
Can I always lock in a profit?
Only when 1 ÷ the original decimal odds plus 1 ÷ the hedge decimal odds is under 1, meaning the odds have moved your way since you bet. Otherwise a hedge can only shrink the loss.
What is a break-even hedge?
The smallest hedge that gets both stakes back if the original loses. You risk nothing more, and everything above that still rides on the original bet.