The saying hedging your bets is a pretty common phrase in everyday life, but when it comes to actual betting, it’s a term only experienced punters seem to have a grasp on.
It’s a popular strategy among those in-the-know and is used in order to reduce the risk of your bet and increase your payout.
If you’re looking to improve your chances of a payout, hedging could be a good place to start.
Here’s our complete Betting Apps guide to what it is and how you use it.
What Is Hedging Your Bets?
Of course, first thing you need to know is what actually is hedging.
It’s actually a pretty simple strategy that is similar to Arbitrage betting in the fact that you’re betting on multiple outcomes to cover your bases.
How this works is by placing a lay bet on top of your original bet to guarantee a profit, albeit a small one.
To use hedging as a method you will place a back bet on one outcome and a lay bet on another. Usually, the back bet you place will usually be on an outsider, with your lay bet them operating as insurance.
Bet high and lay low is generally the strategy when hedging your bets and can be a good strategy should your original bet be influenced by your original bet and you wish to minimise the risk.
For example, let’s say you wanted to place a bet in a Cup game between Everton and Preston. In reality and on paper, Everton are a much stronger side, but on occasion you might wish to back the underdog believing there could be an upset.
In this instance, let’s say you want to back Preston at 14/1 and you want to place £10 on them. That will provide you a profit of £140 if you win and a loss of £10 if you lose.
By hedging your bets you will help guarantee make a profit. In order to do so you would also have to place a bet on Everton that guarantees profit.
Let’s say you can back them at 1/5 therefore it would take a £50 bet on Everton in order to make that £10 initial stake back, with any stake on Everton above that (but below £140) putting you into profit.
Where Can I Use A Hedging Strategy?
You can hedge your bets with any bookmaker around as ultimately it isn’t any form of special offer, but a tactic that uses regular betting odds.
Therefore it’s simply a case of finding the right market for you. The likes of Paddy Power, William Hill and Betfair all have a wide range of sports and markets available and if you’re looking for a new betting app to download, sticking with us is certainly worthwhile.
Can I Hedge Bets On Any Sport?
You can hedge your bets on any sport although it’s always best to do so on markets with only two outcomes. In football this might mean betting on the To Win or Draw market in one instance, or to get through a round it a cup competition.
You can use it in any instance though and as many selections as you please, it just gets a little more complicated when calculating your profits.
The likes of tennis, NFL and boxing are always good for this particular strategy.
Below you’ll find a few examples of the sports in which you can hedge your bets:
- Rugby League
- Rugby Union
- Horse Racing