\n Choose the Right Markets<\/strong>: Bet types are imperative when hedging. Futures present the simplest scenario to hedge, with teams having much higher odds, although it is difficult for the team to reach the championship or final. Moneylines and totals can be trickier to hedge depending on the situation, and are usually hedged live. Large line movements do occur sometimes, allowing you to hedge before the event begins.<\/p><\/div><\/li>\n Compare Odds<\/strong>: Always make sure to odds shop across different websites when betting and hedging. One sportsbook can offer better odds for your futures bet, and if the opportunity presents itself to hedge later in the tournament, moneyline odds will be different across bookmakers.<\/p><\/div><\/li>\n Use Tools and Implied Probability:<\/strong> Using tools such as a hedging calculator can make things a lot easier when hedging. Also, make sure to calculate the implied probability of a team winning when considering how much you\u2019re going to hedge in certain instances.<\/p><\/div><\/li>\n Be Practical about Limiting Your Losses<\/strong>: Being practical is essential because you aren\u2019t always going to be able to lock in a profit or even out. If you think the team you initially wagered on is doomed, and betting on the opponent offers a small loss, take it rather than losing your full stake of the initial wager.<\/p><\/div><\/li>\n Hedge Parlays: <\/strong>As eye-popping as the parlay payout appears, if you\u2019re one leg away from hitting a massive payout, don\u2019t let your pride get in the way. Hedge that last leg. It\u2019s up to you to determine the amount. A hedging calculator can be clutch in such situations.<\/p><\/div><\/li><\/ul>\n\nPros & Cons of Hedging a Bet<\/h2>\n \n\n
\n Just about every betting strategy has positives and negatives surrounding it. Let\u2019s take a look at both in terms of hedging.<\/p>\n\n
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\n Pros:\n <\/div>\n
\n - Lowers risk:<\/strong> Placing a second bet that benefits you when your first bet loses ensures you receive a small profit or reduces potential losses.<\/li>\n
- Maintaining a bankroll:<\/strong> Hedging can produce funds, enabling you to keep your bankroll steady. By locking up a profit, you can utilize that money by withdrawing it or for other wagers.<\/li>\n
- Can preserve parlays:<\/strong> Winning parlays is extremely difficult. The more legs, the lower the chance of winning. Hedging allows you to save your parlay by guaranteeing a profit in certain scenarios.<\/li>\n
- Hedges can prevent larger losses:<\/strong> For those rare occasions when you do decide to bet a larger amount of your bankroll (4-5%), should things head south during a game such as an injury, hedging allows you to limit these losses. This can also be the case with multiple bets over a period of time when hedging is done properly. Remember, no bet is ever considered a \u201clock.\u201d<\/li>\n <\/ul>\n <\/div>\n
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\n Cons:\n <\/div>\n
\n - Hedging can cost money:<\/strong> You\u2019re going to pay the vig twice since you\u2019re placing a second bet. You might also take a small loss.<\/li>\n
- Poor hedging can lead to losses:<\/strong> If you don\u2019t calculate the hedge properly, you can lose more money than you should. That\u2019s why you need to calculate odds correctly and use tools such as hedging calculators. Hedging isn\u2019t always appropriate for every situation, and some bettors hedge at the wrong times or too frequently.<\/li>\n
- Potential profit is lessened:<\/strong> Obviously hedging can be a great way to secure profit. However, it takes away some of the potential profit when your initial pick hits.<\/li>\n <\/ul>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n
What Is the Difference Between Hedge Betting & Arbitrage Betting?<\/h2>\n \n\n
\n Hedging and arbitrage wagering both entail several wagers but aim for separate outcomes. Hedging tries to reduce risk on an existing bet by placing a counter bet. Arbitrage betting takes advantage of price disparities between bookmakers to ensure a small amount of profit, regardless of the match's outcome.<\/p>\n\n
\n We\u2019ll use the MLB All-Star game as an example. The scenario will include odds from FanDuel (pictured below) for the American League and hypothetical DraftKings<\/a> odds for the National League.<\/p>\n\n
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