Calculators
Hedge bet calculator – the same result on either side
Type your original stake and odds, then the odds on the other side. The calculator shows the hedge stake for break-even or the same result either way, and what it costs.
The hedge is a bet on the other side. Hedging a parlay? Use its total odds as your odds.
What does the hedge cost?
If your bet wins+$50.00
If the hedge wins+$50.00
Bet $150.00 on the other side at 1.67 (−150). You end on +$50.00 whichever side wins.
A hedge is a second bet, so it carries the bookmaker’s margin too. Add the current odds on your side to see what it costs on average.
How it is calculated
Equal result: hedge = stake × your odds ÷ hedge odds$50.00 × 5.00 ÷ 1.67 = $150.00
Break even if the hedge wins: hedge = stake ÷ (hedge odds − 1)$50.00 ÷ (1.67 − 1) = $75.00
If your bet wins = stake × (your odds − 1) − hedge$50.00 × (5.00 − 1) − $150.00 = +$50.00
If the hedge wins = hedge × (hedge odds − 1) − stake$150.00 × (1.67 − 1) − $50.00 = +$50.00
No hedge vs equal hedge
No hedge
- For example: $20.00 on side A at +300
- No bet on side B
- If A wins: $60.00 profit
- If B wins: −$20.00
- Wide gap between the two results
Equal hedge
- Same $20.00 on A at +300
- Plus $48.00 on B at −150
- If A wins: $12.00 profit
- If B wins: $12.00 profit
- The same result either way – most of the upside is given up
Three choices, one example
| Choice | Hedge stake on B | If A wins | If B wins |
|---|---|---|---|
| No hedge | None | $60.00 | −$20.00 |
| Break-even hedge | $30.00 | $30.00 | $0.00 |
| Equal hedge | $48.00 | $12.00 | $12.00 |
Example: original $20.00 on A at +300, hedge on B at −150. Results are profit or loss after both stakes.
Equal hedge stake
Hedge stake = original stake × original decimal odds ÷ hedge decimal odds
Example: $20.00 × 4.00 ÷ 1.67 = $48.00. Whichever side wins, your profit is $12.00 after both stakes.
Why people hedge
Futures bet near the end
You hold a team at long odds, and it reaches the final. A bet on the opponent narrows the result. See Stanley Cup odds.
Last leg of a parlay
All legs but one have won. A bet against the last leg narrows the gap between your results; an equal-result hedge makes them the same. See the parlay calculator.
Hedge vs arbitrage
A hedge reacts to a bet you already hold. Arbitrage places both sides at once. See the arbitrage calculator.
Questions
What is hedging in betting?
Placing a second bet on the other side of a bet you already hold. It narrows the gap between your best and worst result: you give up part of the possible profit to shrink the possible loss.
How much should I hedge to get the same result either way?
Multiply the original stake by its decimal odds, then divide by the decimal odds of the hedge. In the example: $20.00 × 4.00 ÷ 1.67 = $48.00. Decimal odds are rounded; the calculator uses the exact −150 price.
Does hedging make money?
No. A hedge changes the spread of results, not the average. Both bets carry a margin, so hedging usually lowers the expected result. The expected value calculator shows the effect.
What is a break-even hedge?
A hedge sized so your net result is $0.00 if the other side wins. In the example, $30.00 on B gives $30.00 if A wins and $0.00 if B wins.