HEDGE BETTING: THE ULTIMATE GUIDE

Classic Hedge Betting

To hedge a bet you must place your first bet on one outcome, then place a second bet on the opposite outcome in order to reduce the financial risk of your first bet losing. This is the oldest form of hedge betting.

• For Example: Before the football season starts you bet $10 on the Kansas City Chiefs to win the Super Bowl at +475. Months later you see the Chiefs make it to the Super Bowl final. To reduce the risk of losing your stake, you bet $10 on their opponents to win the final, hedging your bet.
  
  
• Pros & Cons: While simple, this process is rarely a profitable long term hedging strategy. This is due to the strict odds pricing of sportsbooks making it hard to predict and lock in profitable hedge bets in advance. 

Arbitrage Betting

A slightly more sophisticated hedging strategy, "arbing" involves using specialized tools to find small discrepancies in odds across different sportsbooks. Hedging bets at these odds can then allow small, gradual profits to build up.

• For Example: D.C. United are playing Toronto and you notice different sportsbooks are offering different odds on the event. You bet $10 on D.C. to win at FanDuel at odds of +110. You then bet $10 on Toronto to win at DraftKings at odds of +110. Regardless of who wins, you'll win a $21 payout on one of the sportsbooks, leaving you with a guaranteed $1 profit. 

• Pros & Cons: While this can be an effective process for gradually building up small profits, arbitrage opportunities are so rare and profit margins are so thin that you often have to stake much larger amounts to receive much smaller profits.

Matched Betting

The most effective and profitable form of hedging, matched betting involves placing two separate bets to unlock a sportsbook promo, like a free bet, completely risk free. You then repeat these steps (using your promo) to lock in a guaranteed profit. 

• For Example: DraftKings is offering a 'Bet $5 Get $150' free bet promo and you want to unlock it without risking any cash. You use the Dutch Matcher to instantly find a hedging opportunity.
  
  Following the instructions on the Dutch Matcher, you bet $5 on the Portland Trail Blazers to beat the Chicago Bulls on DraftKings (to unlock your free bet offer) and bet $2 on the Bulls to win on FanDuel (to hedge your bet).
  
  Once the game ends, you receive your $150 free bet and a small profit. You then repeat this process on a different game using your free bet to guarantee yourself $100 of profit, regardless of who wins. Check out the full step-by-step process in our free guide).
  
  
• Pros & Cons: Though the process may sound a little tricky at first, it's actually far from it. Using the the easy-to-use tools, walkthrough guides one-to-one support of a reputable matched betting platform like ProfitDuel, earning $1,000s in risk-free monthly profits is totally achievable.

3. Are There Any Techniques Similar to Hedge Betting?

There are a wide range of smart betting strategies used by bettors across the globe outside of classic hedge betting. Some of the most powerful include:

• Matched Betting: Converting sportsbook promos into cash with tools like the Dutch Matcher.
  
  
• Arbitrage Betting: Taking advantage of sportsbook odds discrepancies with tools like an arbitrage calculator.
  
  
• Expected Value Betting: Identifying +EV bets with tools like an expected value calculator.
  
  
• Profit Boost Conversion: Converting sportsbook profit boosts into guaranteed profits using tools like the Boost Matcher.
  
  
• Casino Promo Conversion: Gaining an edge over the casino with specialized tools like casino simulators and slots databases.

4. Which Types of Bets Can I Hedge?

When it comes to hedging your bets, a range of different bet types can be used, depending on the process you're following. Some common bet types you can hedge include:

• Moneyline Bets: The most typical bets to be hedged, a moneyline bet is a straight bet on the winner of a game or contest. Therefore hedging a moneyline bet can be as simple as betting for a team to win, then betting against that team to win. 
  
  
• Parlays: A  parlay is a bet made up of multiple smaller bets that are all required to win for the overall parlay to win. When hedging a parlay the involvement of multiple legs can be more challenging, though it is possible. 
  
  
• Spreads: A spread bet involves wagering on the margin of victory, for example the favorite team in a soccer game having to win by three goals. Hedging a spread bet involves betting against the original spread, in this case that the favorite team won't win by at least 3 goals.   
  
  
• Free Bets: Free bets can be hedged and converted into profit straightforwardly through the process of matched betting (A.K.A free bet conversion), yielding significant potential profits.
  
  
• Risk Free Bets: Risk free bets can also be hedged using matched betting, with reputable matched betting platforms including step by step guides for hedging each offer.

5. Which Sports Can I Hedge Bets On?

Sports that result in one of two outcomes (i.e. a win or loss) can make the hedging process far simpler when matched betting. However, hedge betting as a whole can be done on a wide range of sports.

8 of the most popular examples of sports you can hedge bets on are: 

Hedging Football Bets 

• How to Hedge: In football, hedging can be done by placing a bet on the opposing team after the game starts, especially if the team you initially bet on scores first.
  
  
• Spread Betting: You can also hedge by betting against the point spread if you initially bet on the moneyline, or vice versa, depending on how the game develops.
  
  

Hedging Soccer Bets

• How to Hedge: In soccer, you can hedge by placing a bet on the opposite outcome after your initial bet has been placed. For example, if you initially bet on Team A to win, and Team A takes the lead during the game, you can bet on Team B (or a draw) to cover your position.
  
  
• Live Betting: This can be useful with live betting when the odds change dynamically during the game. If your initial bet is looking strong (e.g., the team you backed is leading), the odds on the other outcomes (opponent win/draw) will increase, allowing you to hedge effectively.

Hedging Tennis Bets

• How to Hedge: In tennis, hedging can be done by betting on the opponent after a set or a key break in a match. For example, if you initially bet on Player A to win, and Player A wins the first set, you can hedge by betting on Player B to win the match.
  
  
• Set Betting: Another option is to hedge by betting on the number of sets or by placing bets on individual set winners, which allows for multiple opportunities to hedge depending on how the match progresses.

Hedging Basketball Bets

• How to Hedge: In basketball, similar to football, you can hedge by betting on the opposing team live after your initial team gains a lead. Basketball is highly dynamic with frequent scoring changes, so live odds fluctuate rapidly, presenting hedging opportunities.
  
  
• Quarter or Half-Time Betting: Another approach is to hedge by placing bets on the outcome of individual quarters or halves. For example, if your team is leading at halftime, you can hedge by betting on the opposing team to win the second half.
  
  

Hedging Baseball Bets

• How to Hedge: In baseball, you can hedge by betting on the opposing team if your initial bet is in a winning position, especially late in the game when odds have shifted significantly.
  
  
• Inning Betting: You can also hedge by betting on specific innings. For example, if you bet on a team to win and they are leading by a small margin, you can bet on the opposing team to win a specific inning, which reduces potential losses if the lead changes.
  
  

Hedging Horse Racing Bets

• How to Hedge: In horse racing, hedging can be done by placing bets on multiple horses. If you initially bet on one horse to win and the odds change significantly, you can place additional bets on other horses with favorable odds to cover potential outcomes.
  
  
• Each-Way Betting: Another strategy is to use each-way betting (betting on a horse to place as well as to win) which hedges against the risk of your horse not winning but still placing in the race.

Hedging Golf Bets

• How to Hedge: Golf tournaments offer great hedging opportunities due to the large field of players. If you place a bet on a golfer to win and they perform well in the early rounds, you can hedge by betting on other leading players after each round.
  
  
• Head-to-Head Bets: You can also hedge using head-to-head bets, where you bet on a golfer to finish ahead of another specific golfer. If your initial golfer has a strong start, you can place a hedge on their competitor in a later round.

Hedging Ice Hockey Bets

• How to Hedge: Hedge by placing a live bet on the opposing team if your initial team takes the lead. This is effective due to hockey’s fast pace and frequent lead changes.
  
  
• Period Betting: You can also hedge by betting on individual periods. For example, if your team is leading after the first period, you can place a hedge on the opposing team to win a later period, helping to cover potential losses if the lead changes.

Hedging Boxing Bets

• How to Hedge: In boxing, hedging can be done by betting on alternative outcomes like method of victory (e.g., knockout, decision) or on the opponent if the fight shifts in their favor. For example, if your initial bet is on Boxer A to win and they start strong, you can hedge by betting on the fight to go to a decision.
  
  
• Round Betting: Another option is to hedge with round betting, placing bets on specific rounds for your opponent or a draw if the fight looks evenly matched.
  
  

Hedging MMA Bets

• How to Hedge: In MMA, you can hedge by betting on different methods of victory or by placing a bet on the opposing fighter if the odds shift after a strong start. For example, if Fighter A dominates early but doesn’t finish the fight, you can hedge with a bet on the fight going the distance.
  
  
• Round Betting: Similar to boxing, round betting is an effective hedging strategy. If the fight is taking longer than expected, you can bet on the fight ending in later rounds or by decision to manage your risk.

6. Which Sportsbooks Can I Hedge Bets With?

While sportsbooks are not always big fans of hedging themselves (as it can result in you profiting rather than them), it's a perfectly acceptable sports betting strategy, and as a result, you can place hedge bets across a wide range of sportsbooks across the States. 

10 of the most popular sportsbooks for hedge betting in the U.S. include:

• DraftKings
• FanDuel
• Caesars
• BetMGM
• Fanatics
• ESPN Bet
• Hard Rock Bet
• Bet365
• BetRivers
• Tipico

7. What are the Benefits of Hedge Betting?

Partaking in hedge betting can lead to a wide range of both risk-reducing and profit-maximising benefits. Here are five of the most crucial:

• Risk Reduction: Minimizes potential losses by placing bets on multiple outcomes, ensuring that you don’t lose your entire stake even if the primary bet doesn’t win.
  
  
• Guaranteed Profit: In some scenarios, hedge betting can guarantee a profit regardless of the outcome by covering all possible results.
  
  
• Enhanced Flexibility: Offers flexibility, allowing bettors to adjust their positions in response to changing odds, team news, or in-game developments, adapting to new information.
  
  
• Mitigates Unexpected Outcomes: Can protect against unforeseen events, like last-minute injuries or weather changes, that could drastically alter odds/outcomes of a sporting event.
  
  
• Leveraging Odds Movements: Allows you to take advantage of fluctuating odds to lock in profits or minimize losses, especially in volatile markets where odds can change rapidly.

8. What Are the Risks of Hedge Betting?

Although hedge betting can be an profitable and simple strategy when done correctly, there are three main risks to avoid before you get started hedge betting:

• Choosing the Wrong Strategy: Picking the wrong hedging strategy can be a killer. There's a big difference between the slight risk reduction of classic hedge betting and the guaranteed profits of matched betting - choose wisely!
  
  
• Wasting Your Time: Signing up to dozens of sportsbooks, tirelessly searching for hedging opportunities and spending hours calculating odds yourself not only risks your wasting time, but also your money. Make sure you use the right tools to speed up the process.
  
  
• Going It Alone: While it's possible to place hedge bets alone, you'd have to have hours of spare time to find and calculate potential hedge opportunities just to make minor profits. Instead choose a reputable platform strong experience and killer software to assist you.

9. Which Tools Can I Use to Hedge Bets?

You can take your hedge bet game to the next level by utilizing a range of powerful tools that do everything from helping you compare hedging opportunities to finding, sorting and packaging them up for you in seconds. 

Here are the main three:

Hedge Calculator / Arbitrage Calculator

A hedge calculator (also known as an arbitrage calculator) is a simple but valuable tool that helps bettors check for potentially profitable hedging opportunities by entering odds your initial bet and hedge bet odds and intended stake.

While useful for checking for profitable hedging opportunities and comparing odds, it's nowhere near as powerful as the next two tools.

Dutch Matcher

A more advanced (but equally simple to use) piece of software for maximizing hedge bets is the Dutch Matcher.

The Dutch Matcher instantly scans all upcoming sporting events in your states, ranks them from most to least profitable and tells you exactly how to place and hedge them to guarantee a profit, regardless of the event's outcome.

Dutch Matcher Calculator

Working hand-in-hand with the Dutch Matcher, the Dutch Matcher Calculator calculates the exact figure you must hedge your bet by to guarantee a profit regardless of a sporting event's outcome.

Together, they are the most powerful and profit-earning hedge betting tools on the market today, and you can get full access to both of them for $1 in ProfitDuel's 7-Day Premium Trial.

10. What Is the Best Hedge Betting Platform?