A punters guide to hedge betting in sports

Online sports betting became a popular option for many punters because of the convenience it offers. To have the best online sports betting experience, many punters use strategies such as hedging sports bets to boost their chances of winning.

Strategies like hedge betting can help manage risks and guarantee profit. However, not all punters know about hedging a bet and how it works. If you are new to hedging bets, here’s a guide:

What does hedging a bet mean?

One of the strategies you can do for risk management when sports betting is to hedge your bets. Hedge betting is a sports betting strategy wherein you bet on the opposite outcome of the bet you placed if you’re unsure if your original bet will win. 

Some punters hedge sports bet even if they think it will win to increase their odds. Although the payout will be smaller, the additional bet will provide some security in case the original wager is unsuccessful.

How to hedge a bet and when should you do it?

To hedge betting in sports, you need to place a wager on the opposite side of your original bet to try to break even or lessen your first wager’s risk. For instance, the New England Patriots and the Kansas City Chiefs. The moneyline odds for the Patriots are +200, meaning a $100 bet would win you $200. Meanwhile, the odds for the Chiefs are -150, meaning you have to bet $150 to win $100. 

You believe the Patriots have a good chance of winning, so you place a $100 bet on them at +200 odds. However, as the game progresses, the Chiefs take an early lead and it becomes clear that the Patriots may not win. To hedge your bet and limit your potential losses, you can place a second bet on the Chiefs to win.

Before hedging your bet you first must consider whether you have to do it or not. In some sports games, you can choose to hedge a future bet if you want to ensure profit. Remember that hedging your bet is not required and you should leave your original bet untouched if you are confident that it will win.

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Sports where you can place hedge bets on

Gamdom is one of the most renowned bookmaker sites that offer hedge betting options. When sports betting at the site, you will find various sports in which you can place a hedge bet to minimise losses. Some of the popular sports you can hedge bet on Gamdom are:

Football

Football is one of the most popular sports you can hedge a bet on because it offers a wide range of outcomes that can happen in a single match. Some of the common hedge bets on football include placing a bet on the draw after making an initial bet on one team to win or betting on the underdog to win after placing an initial bet on the favourite. 

Football is also a great sport to hedge bet on because of the exciting football tournaments such as:

• FIFA World Cup

An example of a hedge bet on the FIFA World Cup is for instance, Brazil has a good chance of winning the tournament, but you're not completely confident in their odds. 

You decide to make a $100 bet on Brazil to win the World Cup at odds of 5/1, which means that you could potentially win $500 plus your original $100 stake if Brazil wins. To hedge your bet, you can also place a smaller wager on another team to win the World Cup.

• UEFA Champions League

For example, Manchester City has a good chance of winning the tournament but as the game nears the end, their odds decrease. To minimise your risk of losing, you can hedge your bet on another team that has high odds of winning. 

By placing two bets, you reduce your risk of losing money and increase your chances of making a profit, regardless of which team wins the tournament.

Basketball

Basketball is another sport at Gamdom that’s known for hedge betting. This is because of the high-scoring nature of the sport and the ability of a team to make a comeback from a major deficit. 

Just like hedge betting on football, common hedge bets in basketball include wagering on the underdog to cover the point spread after placing an initial bet on the favourite team to win. Some of the popular basketball events you can hedge bet on are:

• National Basketball Association (NBA)

For instance, the Los Angeles Lakers have a good chance of winning the NBA championship. You decide to make a $100 bet on the Lakers to win the championship at odds of 4/1, which means that you could potentially win $400 if the Lakers win the match.

To hedge your bet, you can also place a wager on other teams to win the NBA, such as the Brooklyn Nets. You place a bet of $50 on the Nets at odds of 6/1, which means that you receive a payout of $300 if they win.

• EuroLeague

When hedge betting on EuroLeague, for instance, you place a bet of $100 on Real Madrid to win the tournament and they made it to the finals. However, their odds decrease and you become unsure of their chances of winning so you place a $50 hedge bet on Anadolu Efes.

If Real Madrid wins, your original bet will pay out $300. However, your hedge bet on Anadolu Efes will lose since they did not win. Meanwhile, if Anadolu Efes wins, your hedge bet of $50 would pay out $200 while your original bet will lose $100. Your net payout will be a total of $150 thanks to your hedge bet. 

Hedge betting sports bets

As an effective betting strategy, hedging a bet can be applied in different sports wagers. Two of the common sports bets you can hedge are futures and parlay. Read below to know how to hedge a bet on futures and parlays:

Futures

A futures bet is a wager placed on an outcome of an event that is yet to happen. These bets include betting on the winner of a league or tournament before it starts. Hedge betting in futures can be done by placing a bet on multiple outcomes to reduce the risk of losing money. 

Parlay

A parlay bet is a single bet that combines multiple wagers with the payout increasing as more bets are added to the parlay. Hedge betting in parlays involves placing additional bets on the opposite outcome to reduce the risk of losing the entire parlay bet. 

For example, if you have a three-team parlay and two of the teams have won their games, but the final team is losing, you can place a bet on the opposing team. You can do this to win to hedge your parlay bet and ensure you still make a profit no matter which team wins.

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Benefits of hedge betting in sports

Unknown to some, hedge betting provides several benefits that can help you have a more worthwhile online betting experience. When done right, hedging a bet allows you to not only minimise the risks but also maximise your profits. 

Some other benefits of hedge betting in sports include:

Risk management

No matter how experienced a bettor is, there is always a risk of losing a bet. Hedge betting is a way to minimise those risks. For example, you bet $100 on a team to win the Super Bowl before the season starts. However, as the season commences, the team doesn’t perform well and they might not make it to the playoffs. 

In this case, you can place a hedge bet on another team that has better odds of winning the Super Bowl. This way, if your original team doesn’t make it, you can still win with the hedge bet.

Flexibility

Another advantage of hedge betting is flexibility. With hedge betting, you have the chance to adjust your bets as the game progresses. If you bet on a team to win a basketball game, but the team is losing in the first quarter. You can hedge your bet by placing a bet on the other team to win. By doing this, you can lock in a profit or minimise your losses if the original team doesn’t win which in turn makes your betting more flexible.

Increases your chances of winning

One of the reasons punters love to hedge a bet is because it increases their chances of winning. When you hedge your bets, you are essentially covering all possible outcomes. This means that you are more likely to win one of your bets, even if your original bet doesn’t win. 

However, it’s important to note that hedge betting doesn’t always guarantee a win. There is still a risk of losing money, especially if the hedge bet doesn’t cover the original bet.

Maximises profit

Hedge betting can also help to maximise profits. In sports betting, a punter’s main goal is to make a profit. To make a profit you must take some risks. 

If you bet on an underdog to win a game, the odds might not be in your favour. However, if the underdog manages to get a lead early in the game, you can hedge your bet by placing a bet on the favourite team to win. This way, you can lock in a profit even if the underdog loses the game.

If you are looking for a way to maximise your betting session when wagering on sports at Gamdom, hedge betting is one strategy you can consider. Just remember to always assess your initial bet’s odds first before placing a hedge bet to claim as big payouts as possible.

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Words by: Rica Miranda