Hedge Bet Calculator

How it works

equal-profit hedge H = S₁ × d₁ ÷ d₂ · break-even hedge H = S₁ ÷ (d₂ − 1) · profit if original wins = S₁(d₁ − 1) − H · profit if hedge wins = H(d₂ − 1) − S₁ (d = decimal odds)

Hedging means betting on the opposite outcome after the odds have moved in your favour — for example before the last leg of a parlay or late in a futures bet. Staking S₁ × d₁ ÷ d₂ on the other side makes the total return identical whichever way it goes, locking in a profit (or capping a loss). A smaller break-even hedge only gets your original stake back if the first bet loses and keeps more upside if it wins. Every hedge pays the bookmaker's margin a second time, so it lowers expected value; it trades upside for certainty.

Worked example

You bet $100 at +400 (5.00) and the other side is now -150 (1.67). An equal-profit hedge is $100 × 5.00 ÷ 1.67 = $300.00: if your original bet wins you collect $400 − $300 = $100.00; if the hedge wins you collect $200 − $100 = $100.00. Either way you lock in $100.00, against $400.00 if you let it ride and won.

Sources: Wikipedia — Hedge (finance) · NCPG — Responsible gambling

Frequently asked questions