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DunkOrThree > Betting Calculators 2024 > Hedge Bet Calculator 2024

Hedge Bet Calculator 2024: How to Use the Sports Betting Hedge Tool

Last Updated on 08.07.2024
Fact checked by: Emily Carter

Iโ€™m sure youโ€™ll all agree that sports betting is all about trying to make a profit? Although nothing in life is guaranteed, one way to maximise your chances is to cover all bases, by โ€˜hedgingโ€™ your bets. But how?

Well, in order to find out if any wager is worthwhile, youโ€™ll need a sports betting hedge calculator. Before I talk more about that, Iโ€™ll first give you the full rundown of the hows and whys, no matter your expertise level, you need to know how to spot a hedging opportunity and why you need a hedge bet calculator.

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Use our hedge bet calculator today!

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What is hedging your bets?

Who wants to be in a losing situation? Well, not me thatโ€™s for sure! And the best way to avoid losses is to use a sports betting hedge calculator, although they do tend to be few and far between. For that reason, you need to make the absolute most of any you come across.

The best way for me to explain what โ€˜hedgingโ€™ a bet means, is to give you an example. You place a bet on your favored NBA team, and the star player from the opposing team is sidelined through injury, so the odds of them winning are pretty high.

However, as the game draws near, said star player is unexpectedly available again, and the odds for your team drop like a stone. In a position like this, you can also place a bet on the opposing team, guaranteeing you a โ€˜winโ€™ regardless of the outcome of the game. But before you go that route, you first need to assess your potential returns, and thatโ€™s where a hedge betting calculator comes into play.

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What is a hedge bet calculator?

If you want to know how to hedge a bet quickly, then a hedge bet calculator is essential. In the situation above, I wouldnโ€™t have the first idea how much to bet on the opposing team to ensure my winnings would be that same for either result, and Iโ€™m guessing neither would you.

A hedge bet calculator can do the hard work for you in that respect, and there are various types of calculator available to fit the different positions you might find yourself in. However, regardless of which one you choose to use, the basic principles are broadly the same.

Using a sports betting hedge calculator

While the calculations involved can be a bit tricky, donโ€™t let that put you off as that is all done by the calculator and inputting the relevant information is pretty basic. Your first step is to put in your initial wager, and the odds – in the example above, that would be the first bet I placed, way before the game started.

Next, youโ€™ll need to put in the odds of your second bet – this will be the odds displayed on your sportsbook of choice for the opposing team to win. Once you have done this, the calculator will tell you how much you need to bet to make the same profit regardless of which team wins.

In this case, you are using it like an arbitrage betting calculator, where you are taking advantage of the difference in odds over time, but this is not the only place where you can use a free hedge calculator for betting. If you like placing large bets, there’d be no harm in taking out a little insurance to make sure that any losses arenโ€™t huge ones. Hereโ€™s where a hedge bet calculator can make sure you are covered.

Other types of betting hedge calculator

I mentioned earlier that there are different types of hedge calculator available, and that is because some sporting events have more than two different outcomes, and of course, not every bet you place will be a straight. If you love a parlay bet (and who doesnโ€™t?) then a regular sports betting hedge calculator wonโ€™t be up to the task. In this case, you need a multi bet hedge calculator or a parlay calculator and filling in the different parts of your wager will give you the bets you need to put you in prime position.

What happens if there is more than one other result possible?

This brings me on to the final type of calculator you are likely to come across. These are perfect when you have more than two results available, such as a draw in our example NBA match. In situations like that, a three-way hedge bet calculator is the tool you need, as it will show you the odds for a draw, as well as those for the opposing team, and indicate the right stake amount.

Conclusion – your easy guide to finding and using a sports betting hedge calculator

OK, you now have the knowledge you need to find and use a free hedge calculator for betting. Iโ€™ve shown you what to do should you find yourself in this position accidentally, or how to use a calculator to help your potential profits when arbitrage betting.

As youโ€™ve seen, it’s not difficult, just a case of having the right information to hand – after that, you can start using a calculator with confidence. Of course this is not the only guide available here, there are plenty more such as a betting glossary, sports betting bonus types explained and even a guide that tells you why you should sign up with more than one sportsbook.

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Hedge bet calculator FAQ

๐Ÿ”Ž What is a hedge bet calculator?

A hedge bet calculator helps you work out the correct stake for a bet in order to maximise your potential regardless of the result. There are various types available, so ensure you pick the right one for your bet type.

๐Ÿ‘€ Are hedge bet calculators legit?

A sports betting hedge calculator is a vital tool for sports bettors who want to take advantage of shifting odds. They are legit to use, but you need to pick the right one for you.

โ“ How do you hedge a bet if there are more than two options?

Some sports like soccer have the chance of a draw, so you need a different type of calculator here. Using a three-way hedge bet calculator will help you cover all the bases.

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