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Hedge Calculator: Secure Betting Profits for Free

Last Updated on 15/05/2024

With our hedge calculator, you can establish the exact amount needed for your hedge bet, based on the odds and stake for your original bet.

The only calculator inputs needed are those mentioned above, the odds and stake for the original bet, plus the odds for your proposed hedge bet. The calculator will display the amount you need to stake on your hedge bet, together with your potential return and profit. You can use this information to decide if it is worthwhile to hedge.

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Your free opportunity to use our hedge betting calculator

Hedge calculator

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How to use the sports betting hedge calculator

In our Hedge betting explained we will detail how to use our hedge calculator, first enter the stake and odds for your original bet, then input the odds for the hedge bet you are considering. The calculator will instantly reveal the exact stake you need to place on your hedge bet, plus your potential return and hedge profit.

This tool works best for longshot futures bet in a competition that is now close to ending, the NBA Championship for example. What you cannot do, is to hedge in the same game. For example, you cannot bet on both teams to win on the moneyline in the same single game, as that would result in a hedging loss.

What you need to input for the hedge calculator to work:

To use this calculator you only need to enter the following information:
  • My Odds - Here you input the odds for your original bet in American, decimal, or fractional format.
  • Bet Amount - Input the total stake for your original bet.
  • Hedge odds - The odds the sportsbook is offering for your proposed hedge bet.

Outputs:

Click ‘Calculate’ and the hedge calculator will automatically output the following figures for you:
  • Hedge Amount - The exact amount you need to stake on your hedge bet to guarantee a profit.
  • Total Bet Amount - The total amount you will stake (original bet + hedge bet).
  • Total Payout - Your potential return regardless of which bet wins (total bet amount + profit).
  • Hedge Profit - The total profit you will make if either bet wins (total Payout - total bet amount).

A step-by-step guide to the bet hedge calculator

Ready to give it a try? Here’s a step-by-step guide to walk you through the whole process, given that you’ve already placed your original bet. E.g. Clippers to win the NBA Championship.

  1. Open our hedge calculator
  2. Enter the odds and stake for your original bet
  3. Browse sportsbooks for odds on the opposite outcome (e.g. if the Clippers made it the NBA finals, you would hedge on the opposing team)
  4. Enter the necessary data (original bet odds, original bet amount, and hedge bet odds)
  5. The result will display straight away (hedge bet amount, total return, and hedge profit)
  6. Decide whether or not to hedge your original bet

Example of the hedging calculator in action

As an example, we pulled some NBA futures odds from DraftKings around the mid-season point. Let’s say we had placed a $100 bet on the Boston Celtics to win the NBA Championship at odds of +235.

Now, let’s fast-forward to the end of the season, the Celtics have made it to the NBA finals, and are up against the Milwaukee Bucks who are the +250 underdogs on the moneyline.

If we were looking at hedging our original futures bet on the Celtics, here’s how it would work:

My Odds:+235
Bet Amount:$100.00
Hedge Odds:+250
Hedge Amount:$95.71
Total Bet Amount:$195.71
Total Payout:$335.00
Hedge Profit:$139.29

In this example, the top three fields are our inputs, and the calculator results are displayed in the bottom four fields. It tells us that we would get a guaranteed profit of $139.29 by placing a hedge bet of $95 on the Bucks.

Sticking solely with the original bet of the Celtics at +235 with $100 could get us a potential profit of $235.00 if they win. So, the smaller profit (just under $100) versus a potential $100 loss, make this a bet that is worth hedging. You can always check out Venmo betting sites for more betting bonuses and options.

Example of when not to hedge a bet

In some cases, the hedge bet calculator might give you a negative return, meaning that hedging your bet isn’t worth it.

To continue using the example above, let’s say that the Celtics make the final, but they’re heavy underdogs and the Bucks are -400 favorites to win the game.

The calculated results would be quite a bit different:

My Odds:+235
Bet Amount:$100.00
Hedge Odds:-400
Hedge Amount:$268.00
Total Bet Amount:$368.00
Total Payout:$335.00
Hedge Profit:-$33.00

In this scenario, hedging our bet would mean a $33.00 loss. Faced with a similar situation, you would be wise to stick with your original bet only, unless you are happy with limiting the potential for loss, rather than making a profit.

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Hedge betting explained

Hedge betting is explained best as a practice where you offset the risk of your first bet by wagering on the opposite outcome. Depending on the results you get from the calculator, you will either be guaranteed a profit or a loss if you place a hedge bet.

Generally speaking, you’d only proceed if a profit is guaranteed. But in cases where your original bet has a very small win probability, you might still consider a hedge bet to limit your losses.

When to hedge your bets

Usually, it's best to use our hedge calculator if your original bet was a long shot - such as in the NBA futures example we detailed above.

Another example might be placing a pre-game bet, and then deciding to hedge it live. For instance, let’s say you bet on the moneyline for the Chiefs (as underdogs) to beat the Packers at +310.

They are surprise leaders at half-time, so now you might look at hedging your bet, by backing the Packers to turn it around at +200 to guarantee a smaller profit whichever way the game goes.

Hedge betting vs arbitrage betting

Arbitrage betting is similar to hedge betting, but it involves exploiting a price difference for the same event between two different sportsbooks. Basically, you bet on one side of the outcome on one sportsbook and the opposite side on another to guarantee a profit.

Although it kinda falls under the “hedge betting” umbrella, you shouldn’t use our hedge calculator for arbitrage betting. We have a specific arb calculator for that, which you can access directly from this page. 

Why our hedge betting calculator is useful

Here is a summary covering the main reasons for using our hedge calculator:

Instant result

You can get all of the information you need, including the amount to place on your hedge bet amount, plus your return and profits, straight away. Just insert the data we showed you earlier and it will all happen automatically.

It does the math for you

As with most sports bets, the math behind hedge betting is pretty complex. But our hedge bet calculator does all of the hard work, so that you don’t have to.

Know when to hedge

Ultimately, the outputs that you get from our calculator can help you to decide instantly if hedging your bet is the right thing to do in a given scenario.

Eliminate risk

At the very least you can use this calculator to minimize your losses, even if your expected profits are not high

Limit losses

In the worst case, you might decide that your original bet is such a long shot that it’s still worth hedging your bet. Even if you are guaranteed a small loss, it may still be the better option than losing your initial outlay.

What other calculators are available at PromoGuy

Hedge calculator betting isn’t the only thing that we can help you with here at PromoGuy US. In the same ballpark as hedging, we also have calculators for arbitrage and Dutching.

At a more basic level, you can use our odds and payout calculators and more. Check them all out here:

All of our free betting calculators at the PromoGuy

Betting Hedge Calculator - Conclusion

Hedging your bets when appropriate can eliminate the risk of your original bet and guarantee a profit. This is offset by the fact that your potential profit will be smaller, but that’s often a price worth paying.

Still, hedging your bets isn’t always worth it, and you need to know exactly where you stand so that you can weigh up all of the options. That’s why our hedge bet calculator is an essential tool for all sports bettors, regardless of experience level.

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Hedge Calculator FAQ

🖩 What is a hedge calculator?

A hedge calculator is a tool that calculates your hedge betting stake, expected payout and profit/loss, regardless of the outcome of an event. You can try our hedging bet calculator for free right now here at PromoGuy.us.

🧪 What is the formula for hedge betting?

The formula to use for hedge betting is Original Stake / (Hedge Decimal Odds – 1) =  Hedge Stake. However, this is hard to work out accurately on your own, so it’s best to use our free hedge calculator here at PromoGuy.us.

❓ What is an example of a hedge bet?

At the start of the season, you bet on the Packers to win the Super Bowl. Come February, they are in the Super Bowl game vs the Patriots. To hedge your bet, you would now wager on the Patriots to win the game. That way, you’ll get a payout no matter who wins. 

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