How it works
To hedge a bet you place a second bet against it, so the result is the same whichever way the event goes. Backing the other side of a two-way market, the hedge stake is your potential return divided by the other side’s odds. Laying at an exchange, it is your potential return divided by the lay odds less the commission.
A cash-out offer is the bookmaker’s own price for that hedge. Put the offer beside the hedge at the prices on the screen and the difference is what the cash-out costs you.
The formula
- Potential return = original stake × original odds
- Back the other side: hedge stake = potential return ÷ the other side’s odds
- Lay at an exchange: lay stake = potential return ÷ (lay odds − commission)
- Locked result = potential return − original stake − hedge stake
A worked football example
You backed a team to win the cup at 5.00 with 10.00. They reach the final, where their opponents are 1.50 to lift the trophy. Back the opponents with 33.33 and you finish 6.67 up whichever side wins. A cash-out offer of 15.00 would leave +5.00, so the hedge is 1.67 better.
What it does not tell you
A hedge locks a result at today’s prices; it does not make the original bet better or worse. If your bet still has the edge, hedging gives some of that edge away. For an accumulator with one leg left, enter its stake and its total odds.
Common questions
How do I calculate a hedge bet?
Multiply your original stake by its odds to get the potential return, then divide by the odds on the other side. A bet of 10 at 5.00 returns 50; at 1.50 on the other side, hedge with 50 ÷ 1.50 = 33.33 to finish 6.67 up either way.
Is it better to hedge or to cash out?
Compare them. A cash-out offer is priced by the bookmaker, with its margin in it, so it usually leaves less than a hedge at the best prices you can find. The calculator shows the difference for your offer.
When should I hedge a bet?
When locking a result matters more to you than the value left in the bet. If your bet still has an edge, a hedge gives some of it away. If the price has moved for a reason that lowers the real chance, hedging can be the better bet.
Can I hedge an accumulator?
Yes. With one leg left, treat the accumulator as one bet: its stake and its total odds. Then back the other outcomes of the last leg, or lay that leg at an exchange.
Why is a lay hedge different from backing the other side?
A lay covers every other result at once, which matters in a three-way football market where the other side is the draw or the opponent. The exchange’s commission comes off the lay’s winnings, so the lay stake is slightly bigger.