To hedge a bet means you’re looking to guarantee profit no matter the outcome of a game. So of course, you should hedge your bets if you’ve become uncertain of the outcome.
If you’re like me and you bet just one game every other day, then there’s really no need to hedge. These are the types of bets we’re confident in and comfortable taking. Through our systems and thoughts, we know we’ll be profitable in the long run by studying the MLB odds, so there’s no need to.
However, if you decide to put together a parlay of five MLB games and the first three win in the parlay, then it’s in your best interest to hedge and guarantee profit.
Many sports bettors will put together parlays with games scheduled for the 1: 00 PM, 4: 00 PM, 7:00 PM and 10:00 PM EST slots. If the picks before the last game of the night hit, you can officially grab profit by hedging your parlay.
Let’s say the odds for your four-team parlay are +1234 and you’ve put $50 on that specific parlay. The $50 would return $667 and you would profit $617 if the parlay cashes. When the first three wagers win, you’re left with just one game on your parlay. If that wager wins, you’d win the bet.
While a $617 profit is a great payday, if you’re feeling uncertain about the final wager and want to guarantee a profit, you can hedge the final game to take a smaller profit than the $617 on the original parlay.
For example, let’s say the Giants are playing the Dodgers in Los Angeles with the Dodgers being favorites at -180 and the Giants being underdogs at +155. In the parlay, you need the Dodgers to win to cash the +1234 parlay. To guarantee money in this spot, you could hedge $261.57 on the Giants at +155 and guarantee yourself a profit of $355.43.
It’s not nearly as much as $617, but by doing this you don’t need to worry about the outcome of the Giants/Dodgers game. If the parlay wins, you’ll guarantee $355.43 and if the Giants win, you’ll guarantee a profit of $355.43. On the other hand, if you don’t hedge the parlay, you could either win $617 or lose $50.
If you’re looking to hedge in live betting, it can be really difficult. Lines are moving after every pitch and the score can change off one swing of the bat.
There’s no set time to hedge a bet. It’s a difficult thing and it really depends on your risk amount. If you’re putting $5 on a parlay, you don’t have to hedge and could feel comfortable risking that $5. However, if you have $1,000 on a game and want to guarantee a profit, then it’s more reasonable to go out and hedge your bet if the time is right to guarantee profit.
To break it down one last time, if you’re a small spender and aren’t risking money that would affect your life, hedging isn’t necessary. If you’re a bettor that plays one game every other day or something, hedging also isn’t necessary because you know you’ll be profitable by the end of the season. There’s no need to panic. If you have a parlay for $5, it’ll be fun to ride it out and see if you can get a big payday, but there’s nothing wrong with hedging and guaranteeing more than the $5 you put in.
Lastly, if you wager heavily on a game and parlay and want to guarantee a profit, hedging is smart. You can play around with the math and understand the implied probability of a team winning, but I wouldn’t worry about all that. If you find a place you can hedge and guarantee yourself money, I would say go for it. There’s nothing wrong with making a profit.
Money is money and small wins build up day by day. If you’re new to hedging and want to try it out, put $5 on a game and practice hedging before going big with your MLB pick.