Hedge calculator
Got a bet or the last leg of a parlay going? Enter your original bet and the odds on the other side to see how much to hedge to win the same either way.
Beat The Bookie is a free play-money sportsbook with real odds. Bet it, track it, and beat your friends without risking a dollar.
How hedging works
A hedge is a bet on the other side of a bet you already have. Sized right, you win the same amount no matter who wins. The hedge stake is your original payout divided by the hedge's decimal odds.
Example: a $20 parlay is down to its last leg and pays $250. The other side is -150 (1.667), so you hedge $150. If the parlay hits you collect $250 and lose the $150 hedge, for $80 profit. If the hedge wins you collect $250 from it and lose the $20 parlay, for the same $80 profit.
Hedge or let it ride?
Hedging trades upside for certainty. It usually costs you a little expected value, because you pay the book's vig again on the hedge. Many sportsbooks also offer a cash out, which is a built-in hedge, but usually at a worse price than hedging yourself.
FAQ
How much should I hedge?
To lock in the same profit either way, hedge your original potential payout divided by the decimal odds of the hedge.
Is cashing out the same as hedging?
Close. A cash out is the sportsbook hedging for you, usually at a worse price than you could get by placing the hedge bet yourself.
When does hedging make sense?
When the locked-in profit matters more to you than the extra upside, like the last leg of a big parlay. It usually costs a little expected value because of the vig.
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