Hedge calculator
Hedging means betting on the other side of a bet you already hold, so that you win something (or lose less) whatever the result. Your bet is still open and the other side now has a price. Enter both to see the hedge stake that locks in a result, or the smaller hedge that just protects your stake.
19+ in most of Canada (18+ in Alberta, Manitoba and Quebec), 21+ in most US states. A calculator shows what a bet pays, not how likely it is to win. Free help: 1-800-GAMBLER (US), ConnexOntario 1-866-531-2600 (Ontario), 211 (Alberta). More help.
The formulas
Equal result: hedge stake = stake × original odds ÷ hedge odds (decimal odds). Locked-in profit = original payout − original stake − hedge stake.
Stake back: hedge stake = original stake ÷ (hedge odds − 1).
Worked example
$100 on a futures bet at +400 (pays $500.00). The other side is now -150. Hedge $300.00 and either result returns $500.00: $100.00 profit. Or hedge $150.00 to get the $100 back if your team loses, keeping $250.00 if it wins.
Hedging $100 at +400 at different prices
| Hedge odds | Hedge stake | Locked-in result |
|---|---|---|
| −300 | $375.00 | $25.00 |
| −200 | $333.33 | $66.67 |
| −150 | $300.00 | $100.00 |
| −110 | $261.90 | $138.10 |
| +120 | $227.27 | $172.73 |
| +200 | $166.67 | $233.33 |
The shorter the price on the other side, the more of the original payout you keep. Live odds move fast, so check the hedge price just before you place it.
Questions
What is a hedge bet?
A second bet on the opposite outcome of a bet you already hold, placed to lock in a profit or cut a loss whatever happens. It costs part of the original upside, so it makes sense when you would rather have a sure result than the full payout.
How do I calculate a hedge bet?
For the same result either way: hedge stake = original stake × original decimal odds ÷ hedge decimal odds. $100 at +400 hedged at -150 needs a $300.00 hedge and locks in $100.00.
How do I hedge the last leg of a parlay?
Use the parlay's potential payout as stake × odds. A $20 parlay at +2900 with one leg left pays $600; hedging that leg at -200 takes $400.00 and locks in $180.00.
Should I always hedge?
A hedge trades upside for certainty, and the second bet carries the bookmaker's margin too. It makes sense when the locked-in amount matters more to you than the extra expected value of letting the bet ride.
What is a break-even hedge?
A smaller hedge that returns your original stake if the first bet loses, while keeping most of the upside if it wins.