Which Sports Bets Can I Hedge?

A term you might see popping up when sports betting is "hedging." Hedge betting is a strategic move that allows bettors to reduce their potential losses or lock in a guaranteed profit, regardless of the outcome of the event.

When done correctly, hedge betting can be a useful strategy for minimizing risk and even ensuring a win for the bettor. Hedging is used in sports betting by bettors of all levels, from complete beginner to experienced.

In this article, we’ll explore some of the different types of bets that can be hedged, which sports are ideal for hedging and some tools that can help you hedge effectively. We’ll finish by showing you how you can get started with hedge betting.

Contents

1. Which Types of Sports Bets Can I Hedge?
2. Which Sports Can I Hedge Bet?
3. Helpful Hedge Betting Tools
4. How to Get Started Hedge Betting

1. Which Types of Sports Bets Can I Hedge?

While hedging is possible in lots of sports betting situations, some types of bets are especially suited to this strategy. Below, we break down the most common types of bets that you can hedge:

Hedging Free Bets

Free bets are often used by sportsbooks as promotional tools to attract new customers. A free bet gives you an opportunity to place a wager without risking a cent of your own money.

To hedge a free bet, you’ll need to place a second bet on the opposite outcome of a game to ensure you profit, no matter what happens. This hedging method, using sportsbook free bets, is known as matched betting.

For example, if you place a $50 free bet on Team A to win a football game, you could hedge that bet by placing a wager on Team B to win. This second bet is placed at a different sportsbook to the one you used the free bet with. Now, if Team A wins, your free bet will pay out and Team B wins, your hedge bet will pay out. This way, you walk away with a profit, no matter what the outcome of the game is.

Hedging free bets is one of the most straightforward and safest ways to secure a return, as the initial risk is eliminated by the free bet offer itself. The key is to calculate your hedge bet correctly so that it maximizes potential profits. But don’t worry about knowing how to do this! We’ll introduce you to the perfect matched betting partner a little later on.

Hedging Risk-Free Bets

Risk-free bets are another popular promotional offer often used by sportsbooks to attract new customers or retain their existing ones. A typical risk-free bet looks like this: if your bet loses, the sportsbook will refund your stake. This is often given in the form of site credit, but it may be cash, depending on the individual terms of the offer.

Risk-free bets are ideal for hedging, as you can bet on one outcome and then hedge by betting on the opposing outcome. Just like free bets, these bets are also perfect for matched betting.

For instance, if you have a $100 risk-free bet on the Super Bowl championship, you could hedge by placing an opposite bet on the other team. If your risk-free bet on Team A wins, you pocket the winnings; if it loses and Team B wins, you receive your stake back, minimizing any loss on the hedge.

It’s crucial to note that risk-free bets often come with specific terms and conditions, such as requiring the refunded amount to be wagered again before withdrawal. Therefore, when hedging risk-free bets, it’s essential to review the sportsbook’s terms to ensure you’re hedging effectively.

Hedging Parlay Bets

Parlay bets combine multiple individual bets into one wager, which can offer the potential for a much larger payout. However, the risk with parlays is that all legs of the bet must win for you to receive the payout. This is where hedging comes in.

Let’s say you’ve placed a five-leg parlay, and the first four legs have already won. With one game remaining, you could hedge your bet by placing a wager on the opposite outcome of the final game. This guarantees you a profit, whether the parlay hits or not.

Note: The key to hedging parlays is timing and managing your bet sizes effectively to lock in a return without overexposing yourself to unnecessary risk. Always make sure that it’s worth doing before you do it.

Hedging Spread Bets

Spread betting involves wagering on the margin of victory rather than just the winner or loser of the game, which can help manage your bankroll effectively. Hedging spread bets works similarly to other bet types, but it requires careful consideration of the points or goals spread.

For example, if you’ve bet on Team A to cover a -3 point spread in a basketball game, you could then choose to hedge by betting on Team B to cover a +3 spread. This creates a situation where you profit as long as the final result falls within a narrow range.

Hedging spread bets can be complex due to the multiple outcomes tied to the point differential, but with experience, it can be a powerful tool for reducing risk.

2. Which Sports Can I Hedge Bet?

Hedging can be applied to many different sports, but just like bet types, some sports work better than others. Here are some popular sports where hedging is commonly used:

Hedging Football Bets

Football is one of the most popular sports for hedging, particularly in the NFL markets, due to the extensive sportsbook options available. The duration of the season, along with the variety of betting options (moneyline, spread, totals), creates lots of opportunities for hedging.

For example, you might decide to place a futures bet on a team to win the Super Bowl early in the season. As the name suggests, this is a bet placed far in advance of the outcome. Now, as your chosen team successfully plays their way through the tournament, you could choose to hedge by placing bets on the teams they face. This could ensure that you profit as your team gets closer to winning the whole thing.

Hedging Basketball Bets

Hedging basketball bets works similarly to football, with potential opportunities to hedge across point spreads, moneylines, and totals. The fast-paced nature of the NBA and college basketball makes it an ideal sport for in-game hedging.

For example, if you’ve bet on a team to cover a spread and they’re leading comfortably at halftime, you could hedge by betting on the opposing team to make a comeback. This way, you can protect yourself from any late-game surprises and still walk away with a profit!

Hedging Soccer Bets

Soccer is another sport where hedging is widely used, especially in long tournaments like the World Cup or Champions League. However, unlike football or basketball, soccer matches can result in one of three outcomes (win, lose, or draw). Therefore, hedging often involves covering multiple possible outcomes.

Let’s look at an example of hedging a moneyline bet on a soccer game. Suppose you bet $100 on LA Galaxy to win the match at +150 odds. If they take an early lead, and you want to secure a return, you could hedge by placing a bet on either their opponent (Inter Miami CF) or the draw before the game ends. This way, you cover two of the three potential outcomes, giving yourself a greater chance of walking away with some profit. Your decision would depend on the live odds.

Hedging Horse Racing Bets

Horse racing offers unique hedging opportunities, especially in major events like the Kentucky Derby or the UK’s Grand National. In horse racing, you can hedge your initial bet by placing subsequent bets on multiple horses in the same race to increase your chances of picking the winner.

For example, if you place a large bet on a favorite horse to win, you might hedge that wager by placing smaller bets on a few horses in the race which have higher odds. If the favorite wins, you’ll profit from your main bet. However, if an underdog wins, your hedge bets could allow you to recover some or all of your initial stake. You could possibly even guarantee you a profit.

3. Helpful Hedge Betting Tools

Hedge betting can sound like a pretty complicated strategy. And managing multiple bets across different sportsbooks can seem like a difficult thing to do! Fortunately, there are a variety of online tools that can help simplify the process.

• Hedge Calculator: A hedge calculator allows you to quickly work out how much you need to bet on the opposite outcome to guarantee a profit or minimize a loss. Simply input your original bet, the odds and the amount you wish to hedge and the calculator will do the rest for you.
  
  
• Odds Comparison: For hedging, you need to get the best sportsbook odds available. Maximizing your returns often depends on finding the best odds for both sides of your wager. But rather than flicking between multiple sportsbook sites, an odds comparison site does the finding for you. It then lets you compare odds from different sportsbooks, ensuring that you find the best possible price for your hedge bet.
  
  

• Bet Tracker: Keep a detailed record of your hedges, including the amount bet, the odds, and the final outcome. This will help you refine your strategy over time, as well as learn from any mistakes.
  
  
• Sportsbook Promo Offers: As we saw earlier, free bet and risk-free bet promotion offers a fantastic opportunity to hedge bet without risking your own money. As well as minimizing any potential loss, you can use the promo offers to guarantee yourself profit.

If only there was somewhere you could get all of this and more…

4. How to Get Started Hedge Betting

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