Hedge to guarantee profits. The concept of hedge betting involves placing bets on a different outcome, or outcomes, subsequent to an original bet in order to create a situation where there is a guaranteed profit, irrespective of whether the original bet wins or loses. Definition of hedge bets in the Idioms Dictionary. Hedge bets phrase. What does hedge bets expression mean? Definitions by the largest Idiom Dictionary.
A hedge is a method to reduce risk and secure winnings for a specified bet. In sports, it means betting the opposite side of your original wager in order to either try to middle the game, or to reduce the downside exposure of the original wager.
The most popular instance of hedging is for a futures bet. For example, you bet the San Francisco 49ers at +2500 to win the Super Bowl ahead of the season and they eventually make it. Instead of riding out the +2500 and hoping the 49ers win, you could hedge that bet and take the opposing team, the Kansas City Chiefs, to win on the moneyline.
How To Hedge A Bet
While you'll get more money if you ride out the original bet, there's also more of a chance you'll come out with nothing. If you hedge and bet the Chiefs, you'll win something no matter the result of the game.
Below is a breakdown of payouts in a possible hedge:
Original wager: $100 on 49ers at +2500 for a $2,600 payout ($2,500 profit)
Hedge: $1,000 on Chiefs ML -150 for a $1,667 payout ($667 profit)
With Hedge
49ers win: $2,600 payout - $1,000 bet - $100 bet = $1,500 profit
Chiefs win: $1,667 payout - $1,000 bet - $100 bet = $567 profit
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Without Hedge
49ers win: $2,500 profit
Chiefs win without hedge: down $100
As seen with a hedge, the bettor comes out in the positive no matter how the game goes. Without the hedge, the bettor wins a bit more after a 49ers win but also comes out negative if the Chiefs win as a favorite.
Should you hedge a bet?
Hedging a wager comes down to personal preference. Some people are fine with a positive payout and prefer not to risk everything, which is when a hedge makes sense. As for those who are keen on their original wager and are fine with losing money if the other side wins, there's no reason to hedge.
More hedging
Hedging can be done with almost any kind of bet. Futures bets may be the most popular instance to hedge, but as sports betting grows, in-play wagering is also at an all-time high. If a bet isn't looking good halfway through a game, hedging with an in-play bet could be done. In this case, it's important to note all possibilities in a game because if you make the wrong hedge, you may be out two bets if something crazy happens.
For example, you bet the Titans -7 to beat the Colts and they open the second quarter down 14-0. Since it's looking like the Colts will win, you decide to hedge the Colts moneyline at -150. Unfortunately, the Colts let up in the second half and the Titans eventually win on a late field goal, meaning both of your bets lose. If you want to hedge in-game, it's usually best to know what you're doing instead of blindly betting the opposite side.
Another possible hedge method is in a parlay. Luckily, these are a little more straightforward than an in-game hedge. The easiest example is if your first two bets win in a three-team parlay. If you want to guarantee winnings, you simply hedge by betting the opposite side in the third bet of the parlay. You'll guarantee winnings, though the payout will be smaller.
When I first started working at a hedge fund, I had the ironic question of what does hedging your bets mean. Years of experience later, I developed a really good understanding of the meaning of hedge your bets. Read on below to find the meaning of hedging your bets and a short, simplified example that will solidify the concept for you.
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Hedge His Bet Meaning
Hedge Your Bets Meaning
Simply put, to hedge your bets means to eliminate your chance of loss by counterbalancing it with another bet. As a result of properly hedging your bets, you won't gain or lose anything, but rather you will net zero.
Hedging Your Bets Example
Hedging A Bet Meaning
An example best illustrates the concept of hedging your bets. Let's use a sports betting example.
Say you bet your buddy Marc $20 that the Miami Dolphins will beat the Baltimore Ravens in next Monday's football game. Later that week, you find out that the Dolphins' quarterback is out for two weeks with an injury. You know darn well that the Dolphins have no chance against the Ravens without their star quarterback. But you can't retract your bet with Marc.
So what do you do? You hedge your bets.
In this case, you make another bet with Harry—$20 that the Ravens will beat the Dolphins. At this point, no matter what happens, you won't lose any money. You have essentially hedged your bets.
To some degree, this is what hedge funds do in order to mitigate risk. That's actually why hedge funds are called hedge funds.
As a former software engineer at a hedge fund, I can say that it gets much more complicated than this hedging your bets example. Nevertheless, this example does a good job of illustrating what hedging your bets means.
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Can you think of a time where you successfully hedged your bets? It doesn't necessarily have to involve money. Let me know in the comments below.
