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In most sports, one can place a futures bet on a team or a player to win their respective championship. Here is a hypothetical example of hedging a bet using current odds to win the Super Bowl odds courtesy of FanDuel. Otherwise, there is a chance the bettor could still lose money if the Cowboys won that round but ultimately did not win the championship. There is no exact science as to when is the best time to hedge. Other bettors might choose to wait to hedge their bet until the Super Bowl, betting on whatever AFC opponent the Cowboys would face.
Hedging too early, perhaps starting with the Wild Card or Divisional Round will eat into your potential profits. However, for every game you did not hedge, you would run the risk of losing your initial wager altogether and walking away with nothing. Live in-game betting provides great opportunities to hedge bets. Suppose you make a bet against the spread on a favorite who is covering easily early on.
Perhaps it would be wise to make a live bet on the underdog who is getting way more points than they were at the beginning of the game. Another example of a live bet hedge is betting on the halftime line. At that point, bettors have seen enough of the gameplay out to make a decent determination of how the rest will play out. Either way, live betting lines are continuously updated so there are plenty of opportunities to hedge and get a number that protects your original wager. If you are an experienced bettor, you likely have had the final leg of a parlay lose and negate all your successful early bets.
If you are one who routinely bets parlays, you should definitely learn the practice of hedging. Suppose you placed a five-team parlay and the first four legs have already cashed. You are likely staring at a payout of odds or better. Instead of risking the loss of your initial wager, that would be a perfect opportunity to oppose the fifth bet of yours, so as to ensure at least some profit.
Hedging parlays becomes tricky if all your games start around the same time. If all the legs of your parlay are happening simultaneously, you will likely have to resort to live betting for any sort of hedging opportunities. In day to day life, someone can hedge many things. When someone hedges in sports betting they are limiting their exposure to a potential financial loss. Hedging a bet is an advanced strategy used by sports bettors to either reduce the risk of a wager or to guarantee a profit of some kind from a wager.
Similar to middling a wager, hedging is a strategy that involves placing wagers on the opposite side of your original bet. As futures bettting has become more popular, so has hedging. New sports bettors might have heard about the sports betting risk management strategy in mainstream media. If nothing else, hedging a bet has become a popular discussion point for any occasion when a sports bettor has a futures wager pending that could result in a large win.
Hedging a bet is a way to guarantee at least some kind of win. Even if a bettor thinks they might win, they could decide to hedge a bet just to be safe and guarantee they walk away as a winner. Futures wagers are long term bets that use a moneyline. Some individual games use a point spread while betting on other sports may involve a moneyline. A bettor can hedge against any of these types of wagers.
This strategy allows the bettor to walk away as a winner or less of a loser if they choose. Hedging a bet is protecting some kind profit that was — and still may be — possible from an original wager. Hedging a bet is done by placing a second wager against the original wager that will guarantee that the bettor sees some kind of profit at the end of the event. A bettor can hedge a future bet or hedge individual games. This example shows that a hedge on a futures bet is still a profitable wager.
The hedge protects the bettor from losing the entire potential profit from the wager.
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