How To Use Our Hedge Betting Calculator
You don’t have to be a rocket scientist to figure out how to use our Hedge Calculator. It’s easier than putting IKEA furniture together. The calculator is designed to be accessible for anyone without a lot of prior experience. Just follow these simple steps and you’ll be good to go in no time.
The first step is to simply enter your stake in the cell which is called the “Back Stake.” Secondly, add the chosen odds in the section “Back Odds.” It’s advised to enter high odds to get the best results. After all, if you’re only betting on favorites to win, what’s the point in hedging your bets.
Once these steps have been completed, enter the Lay Odds and add the exchange commission, then sit back and watch the calculator do its magic in less than a second. Remember, it’s only capable of giving the correct calculations based on your inputs. If you sense that something’s afoot, check your numbers and try again.
What Is Hedge Betting
Think of hedge betting as a form of using one or more bets to insure against the outcome of another bet. This way you’ll reduce both your risk and possible losses. Many experienced bettors take this approach once they’ve locked in a bet deemed a bit on the risky side.
Let’s say your favorite handicapper has stumbled upon some useful information and picked a serious underdog to win. The sportsbook may be slow to adjust the odds and you decide to get in on the action before the market moves to maximize your potential profit.
Now, speed is of the essence. You start looking for easy picks as insurance against the bet you just placed. But how much will you have to bet and against what odds? This is where the hedge calculator will save your behind.
Hedge betting is just a term. The pros scan all kinds of sports and markets to find “easy” wins. Kindly note that live betting on the same event that you’re trying to insure is borderline crazy unless you’re some kind of Nostradamus.
Sportsbooks aren’t lazy so you shouldn’t think of hedge betting as a long-term strategy for banking profits. This is normally a last resort type of betting for when you’re trying to win big on something because if you fail and the hedge bets go against you, you stand to lose substantially. Hedge betting is more for making sure that if your main bet goes wrong, you’ll at least get back the money you wagered.
Is there ever a time when you should place hedge bets? Yes, of course! You should always think of ways to minimize risk and stake, while also doing your best to max out profits. If your strategy is to often place risky bets and then use hedge bets to insure your potential losses, you’re going nowhere.
Hedge Betting Example
We’ll now attempt to explain how hedge betting works with an example. Hedge betting can be quite complicated. Check out the example below and you’ll quickly understand why using our free Hedge Calculator is key to success.
The example will be an NHL match between the Colorado Avalanche and the Pittsburgh Penguins, using live odds to really hammer in why live odds is not the best approach to hedge betting.
Let’s say you want to bet on the under 5.5 goals market pre-game at +120 in odds with a $100 stake. Then the worst thing that can happen to your bet happens. The Avalanche is up 3-1 after the first period. Two more goals and your $100 is lost. A quick check on the live odds shows that the market for over 5.5 goals is -125.
How much would you have to bet on that outcome with your hedge bet? The calculator will tell you that it’s $116.70. But at this point the final outcome won’t matter. You’ll still win $1.67. As you can see, hedge betting is not a great way to make a profit, but it’s a great way to save your behind if something doesn’t go according to plan.
In our example we’re using live odds to save the day, but this will most certainly require that you’re on some kind of mobile device and that you’re watching the game.
What Are The Benefits Of Using Our Hedge Betting Calculator
At the end of the day, for us, it’s all about customer satisfaction. You’re at the heart of everything we do here at Betting.com, which is why we will never charge a dime for using any of our calculators, including the Hedge Bet Calculator.
By now you probably have a lot better understanding of how complicated it can be to try and “insure” a bet by hedging with other bets. The math can get a bit complicated, definitely beyond your average fifth grader, and it’s easy to make a mistake if you’re in a hurry to protect a vested wager.
Another major benefit of using our Hedge betting calculator is that it can be used on a number of devices making it easily accessible wherever you are. The calculator can be accessed via mobile devices such as smartphones and tablets and through conventional desktops and laptops.
If you’re interested in taking a hedge betting approach, it’s advisable that you conduct further research into the strategy to better understand it prior to making any bets and commitments.