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Hedge Betting Calculator: Calculate How to Hedge Your Sports Bets

emily saunders
Writer
Fact checked by: Mike McKean
Last Updated on 16.07.2024

Hedging bets is a common strategy to help minimise losses when betting, but it can feel like a shot in the dark to get right. Try our sports betting hedge calculator, which makes calculating potential returns a walk in the park.

Hedging your bets can be a very solid strategy, but it isn’t the easiest to get started with, especially since you may get limited by your sportsbook for trying it. That’s why we’ve included everything you need to know about hedge betting, using our calculator, and making the most out of this key betting strategy in this expert guide.

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Hedge calculator

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What is a Sports Betting Hedge Calculator?

A hedge betting calculator figures out how much you need to wager on your hedge bet in order to minimise stake loss and still potentially walk away with a profit. It works by determining the additional amount you would need to hedge to cover the stake of your original bet, based on the odds of both the original and hedge bet.

What’s the Main Purpose Behind Our Online Hedging Calculator?

There are two main strategies when it comes to hedge betting:

  • The first is unbiased, where you see an equal chance of your original or hedge bet winning.
  • Then there are also biased bets, where you believe either:
    • Your original bet is more likely to win.
    • Your hedge bet is more likely to win.

Our calculator conveniently gives you hedge bet recommendations for all scenarios, telling you exactly how much to hedge so that you can skip the stressful calculations. It appears in a handy, easy-to-read table that indicates the profit or loss if either bet wins (after deducting your stake amounts). This allows you to drastically speed up your hedge bet strategy every time without calculation errors.

What is Hedge Betting?

Hedge betting means placing at least one other bet (or more) that will win if your original bet loses – think of it like a backup plan. The goal is to recoup as much of your stake amounts as possible. Generally, there are two different approaches involved in hedge betting: backing and laying.

  • Backing: In a two-way event (like win/lose), you bet on the team you believe will win.
  • Laying: You bet against your original selection.

So, initially you might back a specific outcome, but then later have doubts and bet against that outcome, as a backup measure.

There are several ways that you can use hedge betting:

  • Moneyline/Futures: You bet on the outcome you think will win and then on the second outcome with enough that would cover both your stakes. If the bet you think will win does, you’ll get a higher return.
  • Parlay Bet Insurance: Say you’ve won most of the selections in your parlay bet. Before the last one plays out (determining if you win or lose), you can bet on the opposite of your bet to recoup your stake. For example, in your parlay bet, you have Team A to win. Before the game is over, bet on Team B to win as backup.

Example of Hedge Betting in Action

Say you already have a £100 La Liga bet on Real Betis to beat Celta Vigo. The odds at the start of the match are:

  • Real Betis to win: 2.14
  • Draw: 3.35
  • Celta Vigo to win: 3.50

However, halfway through the game, the score is 1-1, and you aren’t entirely confident that Real Betis will win, so you decide to hedge your bet just in case Celta Vigo makes a last-minute goal. At halftime, the odds of Celta Vigo to win are 4.0.

Using the hedge betting calculator, by putting in the £100 bet stake, the original bet’s 2.14 odds, and then the hedge bet’s odds (in this case, on Celta Vigo to win at 4.0 odds), you’d see the potential outcomes of your bets based on different strategies:

  1. You could hedge £53.50 on Celta Vigo. No matter who wins the game, you’d still profit $60.50.
  2. If you had a bias towards Real Betis, you could hedge £33.33 on Celta Vigo. If Real Betis pulls through, you’d profit $80.67. If Celta Vigo wins, you’d simply get your stake back.
  3. If you had a bias towards Celta Vigo, you could hedge £114 on them. Then if they won, you’d walk away with £242, and if Real Betis ended up winning, you’d break even.

In all scenarios, you’re still making a profit or at the very least getting your original stakes returned. However, how much of a profit you potentially could make depends on if you are betting with a bias towards a certain team winning or not.

Why Should You Try Hedge Betting?

Hedge betting is a very popular strategy to both keep your betting bankroll going and protect it by taking advantage of shifting odds and betting against your first bet later on in the game. With the help of our calculator, you can put down the appropriate amount that helps you walk away with a profit, even if your initial bet loses. It could also simply put insurance on your stake, so that you don’t lose it entirely. Therefore it’s a sensible bet strategy for those keen on minimising betting risks.

Can You Use Hedge Betting on All Sports?

Yes, it can be used on all sports and events. The only technicality is in what the strategy ends up technically being called. Hedge betting, for example, shares many similarities with arbitrage and dutching (we have specific sports betting calculators for these strategies as well!). While hedging can be used universally, these are the sports where it’s most popular:

Tennis

There isn’t the possibility of a draw with tennis, so beginners new to hedging bets can easily make a Moneyline bet and then hedge that bet by betting on the opposite result. We do recommend shopping around for odds if you do this so that you can reduce the hedge bet loss as much as possible, and boost the original bet payout potential as well.

Boxing/MMA

Draws are incredibly rare in fighting sports, which means this sport is ideal for beginners looking to start hedging their bets. While there is always a draw option, these are, as said, rare, so you can hedge your bet by betting on the other fighter to win. Big fights are also highly publicised. As such, they carry more chances of having bonuses when betting that can change up your hedge bet strategy.

Football (Soccer)

As a win/lose or draw event, football is an excellent sport to hedge your bets on. Many sportsbooks also offer football bonuses, which gives you more opportunity for arbitrage hedge betting. Since football is such a big, international sport as well, you may also see key differences in odds as sportsbooks compete with each other for your bet, giving you more opportunities to find a profitable hedge bet opportunity.

Here’s Our Hedge Betting Calculator

To use our free hedge calculator betting tool, choose your odds format (American, fractional or decimal). Then, enter the stake of your original bet and that bet’s odds. Finally, put the hedge bet’s odds in the last box. With that information, you’re ready to calculate and reveal multiple potential outcomes.

Hedge calculator

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Undeniable Benefits to Enjoy When You Use Our Online Hedging Calculator

Our hedge betting calculator will not only will you get instant results, but you’ll also be able to enjoy these three benefits that will absolutely change the game when it comes to planning out your hedge bet strategy:

1. Gives You Insight into Three Different Scenarios

Our 3-way hedge bet calculator offers three scenarios: unbiased, biased towards your original bet winning, and biased towards the hedge bet winning. With calculations for all three, you’ll have the information you need to adjust your bet as you see fit.

2. Tells You Exactly How Much to Place on Your Hedge Bet

Knowing how much to stake on the opposite bet to come out with minimal losses is not easy. Use our calculator to know precisely how much you need to hedge and avoid second-guessing.

3. Endlessly Adjustable So You Can Minimise Losses Easily

Our hedging calculator is 100% free and can be adjusted endlessly, allowing you to try different bet and odds combinations to find your preferred hedge bet approach every time.

Our Top Bookmaker Recommendations for Hedge Betting

You can use a sports betting hedge calculator with absolutely all betting sites, but that doesn’t mean that you’ll want to use just any bookmaker. You’ll still want the best of the best. Not sure where to get started? No worries! Here’s our top five sportsbook recommendations:

Important Tips for Using Our Hedge Bet Calculator

Hedge betting can be tricky to understand as there are three potential outcomes to consider. Our calculator can give you plenty of information, but it’s essential to understand a few key details to get the full benefit out of it. Here are some top tips to help:

Play Around with Bet Options

Our multi-bet hedge calculator can be used frequently with no limits, so there’s nothing stopping you from exploring your bet options by playing around with options.

Remember that Total Profit Doesn’t Include Your Stake

When using our hedging calculator, you might be cross checking your results and finding that the profit seems very low. That’s probably because you didn’t realise that the total profit listed is the profit alone, not including your original stake amounts.

Make Sure You Enter the Values Correctly

One easy mistake you can make is accidentally putting the odds for your original bet into one of the hedge bet boxes, or putting in the wrong odds format, which will skew the results and give inaccurate figures.

Try Out Our Other Top-Notch Betting Calculators

Hedge betting is just one of the many different betting strategies that you can try out for your own approach, and we know that. That’s why we offer many other betting calculators. So, if hedge betting doesn’t suit your bet style, try out another approach. For instance, an accumulator calculator is another tool to maximise profit but reduce wagering risks, but in a different way. Check out the others below:

Get Started with Hedge Betting with Our Calculator Today

You can make planning out your hedge bets infinitely faster and easier with our hedge bet calculator. You can update the numbers as often as you need, giving you all the information you need so you know how much to stake on your hedge bet and what type of profits and losses you can expect in each outcome. All that’s left is to get started, so try out our hedging calculator tool today.

Our Top Bonus Recommendations To Use with Our Hedging Calculator

We’ve reviewed many of the top sports betting bonuses, so you know what’s available and what you need to do to clear them – including whether they’re worth your time or not. We’ve even put together our top five recommendations so that you can cut right to the chase and start using the best bonuses with your hedging strategy:

Try these top betting bonuses

Sports Betting Hedge Calculator FAQs

🏇 What’s the difference between hedge betting and dutching?

These two betting strategies are very similar. Hedging is when you bet with two or more bets. Dutching, on the other hand, is always done with multiple bets.

🚓 Is hedge betting illegal?

The good news is that it is legal to hedge your bets! However, some sportsbooks frown upon it and may prevent you from backing multiple Moneyline results or limit your account if you hedge bets too often.

❓ Should I hedge every bet?

This is entirely up to you! Some seasoned bettors will try to hedge every bet they make to minimise losses; others, often novices, do a mix.

🏉 Can I choose to hedge bets during a live game?

You can, but it is harder than hedging pre-match bets. This is because odds change very frequently, and you can’t lock them in while you check with our calculator.

👀 Is it impossible to lose my bet stakes if I hedge my bets?

You’ll usually lose at least a small amount of your original stake if one of your hedge bets wins because every sportsbook has a profit margin, which means you aren’t working with the true odds.