There are heaps of different sports betting strategies – trust me I’ve tried most of them! However, one of the more reliable methods for bankroll management is hedge betting and I think this can be effective at mitigating your losses.
But, what does hedge mean in betting? Well, I’ve had plenty of experience using this strategy so I’ve created the below guide to give you a basic introduction, plus examples of how it works.
What does hedging your bets mean? A basic explanation
For the
best sport betting sites, hedging is always a possibility. It’s essentially a type of safety bet or a counter bet that is meant to reduce your risk and give you a better chance of your wager being successful. In some instances, hedging your bets can even mean that you win regardless of the outcome of a game/games.
You are essentially betting on the opposite result of one/all of your main selections to make sure that at least one of your bets pays out. If done correctly, this can mean that you can make a return regardless, or at least cover your original stakes and break even.
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A hedge bet example
It’s much easier if I give you a demonstration and provide an example of hedge betting in action. I’ll use actual odds and a real sporting event that was live at the time I wrote this guide on what does hedge mean in betting.
You’ve got 4 NBA play-in games to determine the 7th and 8th seeds in both the Eastern and Western Conferences:
- Orlando Magic vs Atlanta Hawks
- Golden State Warriors vs Memphis Grizzlies
- Chicago Bulls vs Miami Heat
- Sacramento Kings vs Dallas Mavericks
You decide to make a 4-selection acca and pick a winner for each of the games and you go for:
| Your pick | Odds |
| Orlando | 1.47 |
| Golden State | 1.30 |
| Chicago | 1.84 |
| Sacramento | 1.50 |
This gives you a 4-fold acca with odds of 5.27 – you place a $20 bet which would give you a return of $105.40. Orlando vs Atlanta is first up and the Magic win convincingly 114-97. On the next day, the Golden State Warriors smash the Grizzlies 125-101 with a classic 35pt performance from Steph Curry. That’s two legs you’ve got right. The streak continues with the Bulls narrowly defeating the Miami Heat on Thursday 104-101.
All that’s left is the Kings vs Mavs. You’ve picked Sacramento as they were the odds-on favorite, but you think that AD and the Mavs could have the experience edge. As a result, you decided to hedge your bets and place a single moneyline selection on Dallas to win. Their odds are 2.50 which means you need to make an $8 bet to at least cover your initial stake – you actually decide to make it $15. We now have the following scenario:
- If Sacramento wins:
You win your 4-fold acca and get $105.40. But you lose the Mavs bet which means you get back $90.40.
- If the Mavs win:
You lose your 4-fold acca and get nothing. But, you win your Mavs bet which gets you $37.50, minus the initial $20 stake from the 4-fold acca means you get back $17.50 in total.
So, just by hedging your bets and making a counter bet on the Mavs, you either make $90.40 or $17.50. As it turns out, the Mavs DO beat the Kings, so while your acca fails, you still at least get a bit back.
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How to properly hedge a bet?
In order to properly hedge a bet, you will need to place a second wager that goes against your initial wager. You do this with a view to either guarantee a profit, regardless of the outcome, or to mitigate the potential losses on your initial bet.
Here are the key steps to hedge a bet:
-
Identify a hedging opportunity: These opportunities usually arise when your initial bet is performing well, such as an acca/parlay, and the odds for the opposing outcome have become more favorable.
-
Choose your strategy: Decide whether you want to lock in a smaller but guaranteed profit, or just reduce any potential losses if your initial bet fails.
-
Compare odds: Check a few different sportsbooks to see which one is offering the best odds for your hedge.
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Calculate the hedge stake: Work out the exact amount you need to wager on the opposite outcome to your initial bet.
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Place the hedge bet: Place your hedge with your chosen sportsbook.
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Wait for the result: While you wait, it’s worth noting that hedging will reduce your maximum potential profit, so manage this expectation. It’s effectively a risk-management strategy, and not a way to maximize your potential wins.
Best betting sites for hedge betting
When you’re hunting out a sportsbook to place a hedge bet, you ideally want a site that has competitive odds and a good variety of betting markets. I’ve put together some of the best sports betting sites around right now to help narrow down your search.
I’ll also highlight the current bonuses available, but I recommend you always check the banners on this page for the latest bonuses and promotions available for your region, as these will vary and may not be the same as mentioned below.
Stake.com ranks top of my sports betting sites thanks to its extensive range of sports markets and hugely competitive odds. If you’re a new user, you may be able to take advantage of the 200% up to $2,000 deposit welcome bonus when you use promo code
GAMECHAMPIONS.
The site is very easy to use and loads quickly too, which works well when you are checking odds for a potential hedge. I like the fact that the site is very mobile friendly, and you can download the app for an even smoother experience. Stake also features dynamic live betting, so you can monitor your bets in real-time and keep an eye on fluctuating odds.
BC.Game – No maximum bet limit
BC.Game is a popular sportsbook known for its standout live-streaming and thousands of betting markets. The welcome offer could grant you a 200% deposit bonus up to $500, and this is a great way to kickstart your betting journey on the site. If you plan to place high value bets, BC.Game has no cap on max bets here.
I’ve seen a decent number of odds boost and profit boost betting offers on the promos page, so always check this before placing any bets. BC.Game is a betting site that will suit users looking for variety and flexibility from a sportsbook.
Shuffle – Competitive odds
Shuffle is a clean and modern sportsbook that offers a simple and straightforward betting experience. This is ideal when you want to hedge a bet and secure the best odds. When paired with promos such as 100% up to $1,000 when you use the exclusive bonus code
GAMECHAMPSPORT, it offers good value to new users.
A couple of areas that shine at Shuffle are the competitive odds and the excellent in-play betting streams. I also find the markets refresh quickly during live events, so I can get the latest odds as the game unfolds.
WSM Casino – Wide accessibility
WSM Casino may be known for its casino offering, but its sports section is well worth highlighting too. The site provides wide sports coverage of top leagues like the NBA, MLB, and NFL, and offers decent sports promos. These promos include a welcome bonus consisting of a 200% match deposit bonus up to $25,000.
WSM’s broad accessibility and straightforward layout make it a reliable choice, and will appeal to many types of sports bettors. If you’re keen to explore the site further, check the banners on this page for the latest welcome offer in your area.
Roobet – Excellent acca builder
Roobet stands out for its speedy site, sharp odds, and frequent sport bonuses. In fact, the latest welcome bonus includes a chance to grab a share of $40K in prizes through the Parlay Power Play – ideal if you plan to build your accas here. While offers vary by region, promos have been known to include boosted odds and event specials.
I’m a big fan of Roobet’s responsive live betting markets that make it easy to secure my hedge bet without delay. Most sports are covered within the 40+ markets too, including football, basketball, MMA, and a couple of niche areas like handball and snooker. To find the offer in your region, click on the banners on this page and enter the promo code
GAMECHAMPSPO
for the latest bonus.
Limitations of hedge betting
Whether you’re asking the question,
what is a round robin bet, or what does hedging your bets mean, you have to realize that no betting strategy is perfect or infallible – if it was, everyone would be using it and sportsbooks would be out of business.
A major limitation of hedge betting is that it’s only really beneficial for accas and it rarely works at all on a single match outcome. Also, your potential profitability and ability to break even is greatly reduced the more counter hedge bets you place against your initial acca. Lastly, this type of bet takes way more effort and calculations if you want to make it work, compared to just a simple outright bet, or a simple acca.
Pros and cons of hedge betting in sports
Hedging is a great strategy at
betting sites with instant withdrawal, but there are some potential drawbacks to be aware of and this is shown in the below pros and cons:
Advantages
- It’s an effective risk and bankroll management strategy
- Can help place more successful wagers
- You should at least be able to cover the initial stake
Disadvantages
- It works better for accas spread over several days
- It requires a lot of effort and calculations
Give hedge betting a try today to manage your risk and bankroll
I completely believe that the extra effort and calculations involved with hedging your bets in sports betting is worth it. I’ve had many instances where a counter bet has saved me from a diabolical acca bet that went wrong. Of course, this betting strategy is not infallible and you will not be able to guarantee yourself profit on every group of bets. However, with careful planning, monitoring, and calculations, you should be able to place hedge bets to at least cover your initial stakes and break even which is better than an outright loss!
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Hedge betting FAQs
🤔 Are you always guaranteed to win when hedging your bets?
You can make it so that at least one selection always wins, but you cannot always guarantee that you make profit. Hedging is more about risk management and mitigating your losses, rather than always guaranteeing profit.
🚫 Is hedging bets illegal?
No. This is a perfectly valid betting strategy that online sportsbooks will allow.
🔄 What does hedging your bets mean?
Hedging is the process of placing counter bets on opposite selections to the bets you have already made. This gives you a safeguard and helps you manage your bankroll more effectively.
