Today we're going to talk about hedge betting. This form of betting is designed to mitigate risks and cashing from opposite ends of the same bet. Provided it's done correctly, hedge betting can be a powerful strategy in sports betting. When you hedge a bet, you’re taking the opposite position to your original bet, to guard against losses. Let’s throw in a couple of popular MLB teams to bring it all into sharp focus.
Perhaps you're betting on the Toronto Blue Jays vs New York Yankees. A hedge bet might look something like this:
• Betting on the Toronto Blue Jays to win outright: +145
• Hedging your bet with the New York Yankees run line (-1.5): -110
In this scenario, a bettor would need the Yankees to lose by two or more runs to win both bets. This form of betting is an example of a full hedge. A partial hedge would be if the bettor took the Yankees Moneyline instead of the run line (-125). In this case, the bettor would need the Yankees to lose the game outright to win both bets. As you can tell, the numbers really matter in hedge betting.
The most important thing to remember with hedge betting is that you're essentially doubling down on the same game. Doubling down is necessary because you're now subject to the whims of the game itself. So, for example, you could lose both bets if there's a late comeback or a blown lead. Sports betting is not a perfect science, but there are several ways to protect your bets.
Hedging Can Pay Dividends in Sports Betting
There are still plenty of scenarios where hedge betting makes sense. For example, if you're confident in your original pick, but the line is moving against you, a hedge bet can lock in a profit. Likewise, if you're worried about a late rally from the opposing team, a hedge bet can help protect your original wager.
Hedge betting can be a great way to mitigate risk, but it's important to remember that it's not a guaranteed profit. To succeed, you need to be confident in your original pick and understand the game itself.
Perhaps you're a big fan of English Premier League football? You may be backing Liverpool against Manchester City. Suppose Manchester City is a slight underdog, and Liverpool is the favourite. So, you place a straight-up bet on Liverpool to beat Manchester City. But then you hear that the star striker for Liverpool has a niggling hamstring injury.
What do you do? You could hedge your bets by placing a bet on Manchester City to create a breakeven scenario. That means you can mitigate your risks given this new information. For hedge betting to be successful, you've got to carefully assess the odds at various bookmakers. When the numbers line up correctly in hedge betting, it's possible to cash in, regardless of the team that wins.
Hedge betting can also be used as a hedging strategy for in-play betting. Let's say you prefer Canadian soccer teams. You bet on CF Montreal to beat Toronto FC in the first half of the match, but then things are not going well, and CF Montreal is down 0-2 at halftime. So, you could choose to hedge your bet by placing a bet on Toronto FC to win the match outright. This way, you've mitigated your risks and ensured that you would make a profit no matter which team wins the match.
Advantages of Hedge Betting
• It can lock in a profit: If you're confident that your original pick will win, but the odds are moving against you, then a hedge bet can lock in a profit.
• It can protect your original wager: If you're worried about a late rally from the opposing team, then a hedge bet can help protect your initial wager.
• You can use it to cash out early: Hedge betting can also be used to cash out early from a bet before the event has finished. For example, if you've bet on CF Montreal to beat Toronto FC in the first half of the match, but then CF Montreal is down 0-2 at halftime, you could hedge your bet by placing a bet on Toronto FC to win the match outright. This way, you've mitigated your risks and ensured that you would make a profit no matter which team wins the game.
• Hedging is a great option for in-play sports betting: You can use hedge betting while matches are taking place in real time. If you see the advantage ebb and flow between teams, you can make a calculated decision and hedge your bets accordingly. Keep a close watch on the match and make appropriate bets based on what is unfolding in real time.
Disadvantages of Hedge Betting
• It's not a guaranteed win: As we mentioned before, while hedge betting can be a great way to protect your original wager and lock in a profit, it's important to remember that it's not a guaranteed win. You need to be confident in your original pick and understand the game itself to be successful.
• It can be risky: Hedge betting essentially doubles down on the same game. If there's a late comeback or a blown lead, you could lose both bets.
• It requires careful planning: For hedge betting to be successful, you need to carefully assess the odds at various bookmakers. When the numbers line up correctly in hedge betting, it's possible to cash in, regardless of the team that wins.
• It can be confusing: Hedge betting can be confusing for those new to sports betting. If you're not sure what you're doing, it's best to steer clear of this strategy to understand better how it works.
• It can get expensive: Hedge betting can also be costly if you're not careful. Remember, you're essentially doubling down on the same game, which means you're now subject to the whims of the game itself. If there's a late comeback or a blown lead, you could lose both bets.
Should I Hedge My Bets at 888sport Canada?
It's essential to weigh up the merits of hedge betting. If you're a novice and don't understand odds, percentages, and advantage play, it's probably best to stick to basic bets. However, once you become more familiar with all the different types of bets available, it all comes into sharp focus.
Remember that hedging is possible with different types of bets, including money lines, parlays, proposition bets, point spread, over/under, puck lines, futures, and spread betting. It's your decision. If you are a true gambler, you'll back your player or team to the end.
On the other hand, you may wish to hedge your bets and mitigate risk if you bet judiciously. It's all about risk/reward and your understanding of the game. Either way, 888sport Canada has got you covered!
