Hedge Bet Calculator
Calculate hedge bets to lock in guaranteed profit
Calculate Your Hedge Bet
Hedge type:
Calculate the hedge bet needed to guarantee equal profit regardless of outcome.
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When to Hedge Your Bets
Hedging allows you to reduce risk by betting on the opposite outcome of an existing bet. Common scenarios include:
Futures bets: You bet on a team to win the championship at +2000, they make the finals, and you want to lock in profit
Parlay legs: Your 5-leg parlay has 4 wins and one game remaining
Free bet conversion: Converting a promotional free bet into guaranteed cash
Live betting: Your pre-game bet looks good, but you want to reduce variance
How Hedging Works
When you hedge a bet, you're placing a second bet on the opposite outcome to guarantee a profit (or minimize loss) regardless of the result.
Example:
You bet $100 on the Celtics at +200 to win the NBA Finals. They make it to the Finals, and you can now hedge by betting on the Warriors at -150.
The calculator determines the exact hedge amount to balance your payouts based on the current odds available.
Complete Guide to Hedge Betting
Guaranteed Profit Hedging
This mode calculates the hedge bet needed to make equal profit regardless of which bet wins. It's ideal when:
You want to eliminate all risk
The guaranteed profit is acceptable to you
You'd rather have certainty than gamble on a larger win
Trade-off: The guaranteed profit will always be less than your maximum potential win if you don't hedge.
Target Profit Hedging
This mode lets you specify how much profit you want if the hedge wins, accepting more variance on the original bet outcome:
Lock in a specific amount if your original bet loses
Potentially win more if your original bet hits
Good when you're confident in one outcome but want insurance
Note: Your profit if the original wins will differ from your target profit.
Free Bet Conversion
Sportsbooks often offer free bets as promotions. The catch is that free bets only pay out the profit - you don't get the stake back. This makes them worth less than their face value.
By hedging a free bet with a real money bet on the opposite side, you can convert approximately 70-80% of the free bet's face value into guaranteed cash. The exact conversion rate depends on the odds you can find.
Tips for Maximizing Free Bet Value:
Use the free bet on the biggest underdog you can find (higher odds = better conversion)
Find the opposing side at another sportsbook with the best odds
Look for +EV free bet opportunities where you may not need to hedge at all
Hedge Betting FAQs
Is hedging a good strategy?
Hedging is neither good nor bad - it's a tool. From a pure expected value standpoint, hedging often reduces your overall EV because you're paying the vig twice. However, it can be valuable when the guaranteed profit is significant or when reducing variance matches your risk tolerance.
When should I NOT hedge?
Consider not hedging when: (1) the potential profit without hedging is small relative to your bankroll, (2) you originally made a +EV bet and hedging would eliminate that edge, or (3) the hedge odds are poor and the guaranteed profit is minimal.
What's the difference between hedging and arbitrage?
Arbitrage involves placing bets simultaneously on all outcomes to guarantee profit due to odds discrepancies between sportsbooks. Hedging is typically done after an initial bet, when circumstances have changed (like a futures bet becoming more likely). Both can guarantee profit, but arbitrage is pre-planned while hedging is reactive.
Can sportsbooks limit me for hedging?
Hedging with the same sportsbook is generally fine, but frequently using arbitrage or taking advantage of promotions across books can lead to limits. Books are more concerned with consistent +EV betting than occasional hedging.
How do I find the best hedge odds?
Use odds comparison sites or have accounts at multiple sportsbooks to find the best available odds for your hedge bet. Better hedge odds mean more guaranteed profit. Even small differences in odds can significantly impact your guaranteed return.
Related Resources
EV Calculator
Calculate whether hedging or letting your bet ride has better expected value.
EV Calculator