The concept of hedging is somewhat of an art form among the professional handicappers. It’s amazing that most casual bettors don’t take advantage of the concept. The key concept to hedging a bet is that if you place a wager that appears to be headed towards a loss you can bet the other way in order to make sure you don’t lose any money. Here is a look at three examples of hedging a bet.
Betting Against A Team & Hedging Against It
The Chicago Blackhawks host the Minnesota Wild. You bet against Minnesota. The first few minutes of the game go by and it is still scoreless. At this point, you bet on the Wild to win. Now you have two wagers. The original bet for the Blackhawks and the second for Minnesota. Since the odds have changed you could find better value betting on the Wild. Now you can wait for the end of the game with a guarantee that you will win the bet regardless of the outcome.
Bet On A Team & Hedge Against It
This is the exact opposite bet of the first example that we used in this column. Let’s stick with the example above and say that you bet on the Blackhawks to win. In case your team goes in to the lead the odds for your team will decrease. Now you place a “lay”-bet against your team. Since the odds will have fluctuated you should be able to profit from any result whether or not it’s Chicago or Minnesota that wins.
Bet Against A Draw & Hedge Against It
The final type of hedging occurs when you do it against a draw. For example, if Leicester City and Manchester United were set to meet in a Premier League game and you took Manchester United to win. After the first goal, you bet on a draw since the odds for a draw increase after a goal is scored. If you put 10 units on the draw with odds of 3.0 then your maximum loss should be 20 euros based on the fact that we include your initial bet. If the team you picked wins then you win. If the game ends in a fraw then you should profit since the odds for the draw will pay out more money than the odds for a win. The only scenario you can lose in is if the team you picked ends up losing. However, even in this situation you can hedge your bet the other way in the event that the game is tied at some point in order to protect yourself. You might not want to do that in a situation where it appears the win or draw is most likely but the point is that you have that option if you are willing to hedge your bet.
Hedging definitely isn’t for everybody but most people should consider the advantages of using it in their betting strategy. The majority of professional handicappers hedge their bets all of the time in order to maximize their potential profits and more importantly, to limit their potential losses. Hedging is a smart concept that even the casual fans should try to use to their advantage. If you haven’t tried it yet, you might want to consider hedging as part of your approach to betting on sports.