Free tool · Hedging
Hedge bet calculator
You have a bet on, and the odds on the other side have moved. Enter both, and see exactly what each hedge locks in: equal profit, break-even, or an amount you choose.
Your original bet
The hedge (other side)
For a parlay or a futures bet, enter its total odds as the original odds. The hedge goes on the opposite side of the leg that is still open.
| Option | Hedge | Original wins | Hedge wins |
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What a hedge bet is
A hedge is a second bet on the opposite side of a bet you already have. You place it when the odds have moved your way, for example when your futures team reaches the final or the first legs of your parlay have won. The hedge trades some of your potential winnings for a result you know in advance.
There are three common choices, and the calculator shows all of them:
- Equal-profit hedge. You win the same amount whichever side wins. This removes all risk.
- Break-even hedge. The smallest hedge that gives you your original stake back if the original bet loses. You keep most of the upside.
- Your own amount. Anything in between, if you want to keep some risk for a bigger payout.
Worked example: hedging a futures bet
You bet $100 on a team at +400 to win the title. They reach the final, and the other team is now −150 (decimal 1.67).
Either way you collect $500 on $400 staked: a certain $100 profit, against a possible $400 without the hedge. A break-even hedge of $150 instead keeps $250 profit if your team wins and leaves you even, with no loss, if it loses.
Hedge formulas
Using decimal odds (the converter on our odds converter page turns American or fractional odds into decimal):
When hedging makes sense
- A big payout is one result away. A parlay or a futures bet worth far more than your usual stake is a good candidate, because losing it would hurt more than the hedge costs.
- The odds have moved a lot in your favour. The bigger the move, the more profit a hedge can lock in.
- You want certainty more than expected value. Each hedge pays the sportsbook's margin again, so on average it costs a little. You are buying certainty.
If the hedge locks in a loss, the odds have not moved enough. You can still hedge to limit the damage, but it is a choice between a smaller certain loss and keeping the full risk.
Hedging and arbitrage
The math is the same as arbitrage. The difference is timing: an arbitrage places both bets at once, because prices at two books already add up to less than 100%. A hedge comes later. If you are placing two legs of an arbitrage and the second leg's odds move before you place it, that is a hedge too; the Odds Moved tab of the arbitrage calculator handles it, including exchange commission.
Looking for gaps you can lock in from the start?
Open the arbitrage calculatorFAQ
How do you calculate a hedge bet?
To lock in the same result whichever side wins, stake the original bet's total payout divided by the hedge's decimal odds. A $100 bet at +400 pays $500; hedging at −150 (decimal 1.67) takes $500 / 1.67 = $300, for $400 staked in total, which locks in $100 profit either way.
What is a break-even hedge?
A break-even hedge is the smallest hedge that gives you your original stake back if the original bet loses. Stake the original stake divided by (hedge decimal odds − 1). You keep most of the upside if the original bet wins.
Should I hedge my parlay?
It depends on how much risk you want to keep. Hedging the last leg of a parlay trades part of the potential payout for a guaranteed result. The calculator shows every option side by side, so you can see exactly what each hedge costs.
Is hedging the same as arbitrage?
They use the same math. Arbitrage places both bets at once, when prices from different books add up to less than 100%. A hedge is placed later, after the odds have moved in your favour or the event has started.
Does hedging cost money?
Every bet carries the sportsbook's margin, so a hedge gives up a little expected value in exchange for certainty. Whether that is worth it depends on the size of the bet and how much risk you are comfortable holding.