Hedge Calculator
Already placed a bet that you want to hedge? Enter your original stake and odds, then the current opposing odds. The calculator returns the hedge stake to either lock in profit or minimise loss.
Equal-profit hedge: same return whether your original or the hedge wins.
What is the Hedge Calculator?
Hedging is the act of placing a second bet on the opposing outcome of an open position to either lock in profit or cap your loss. Common before a futures bet settles - e.g. you backed France to win the World Cup pre-tournament at 5.00 and they\'re now in the Final, so you hedge by backing the opponent to lock in profit.
How to use the Hedge Calculator
- Enter your original stake (e.g. $100 you put on France to win the World Cup pre-tournament).
- Enter the original odds (e.g. 5.00).
- Enter the current odds of the opposing side (e.g. France's opponent in the Final at 1.40).
- The calculator returns the hedge stake to lock in equal profit on both outcomes.
The formula
Equal-profit hedge stake = Original Return / Hedge Odds
where Original Return = Original Stake × Original Odds
Guaranteed Profit = Original Return − Original Stake − Hedge Stake
Same payout whether original or hedge wins.Worked example
Pre-tournament you bet $100 on France at 5.00 to win the World Cup. France makes the Final and their opponent is priced at 1.40.
- Original return if France wins = $100 × 5.00 = $500
- Hedge stake = $500 / 1.40 = $357.14
- If France wins: profit = $500 − $100 − $357.14 = +$42.86
- If opponent wins: profit = $357.14 × 1.40 − $100 − $357.14 = +$42.86
Locked-in profit of $42.86 regardless of result.
Find the best hedge odds across 4 bookmakers
7-day free trial. All endpoints on every plan.
Frequently Asked Questions
When should I hedge?
Hedging makes sense when you want to lock in profit (e.g. a long-shot futures bet has come good) or cap a loss (a futures bet has gone bad and the opposing side is now priced low). It always reduces expected value compared to letting the bet ride - the question is whether the variance reduction is worth it.
Is hedging the same as arbitrage?
Closely related. Arbitrage is finding mismatched prices across bookmakers to lock in profit on a single event. Hedging is using a current price to lock in profit on an already-placed position.
Can I partial-hedge?
Yes - hedge less than the optimal amount to take a smaller guaranteed profit but bigger profit if your original wins. The calculator gives the equal-profit hedge; multiply by <1 for partial hedges.
Does the bookmaker margin matter?
Yes - if the hedge odds are heavily margined, your guaranteed profit shrinks. Always shop the best opposing price across bookmakers before hedging.
What if I can't fit the hedge stake in my account?
Hedge what you can. Partial hedging still reduces variance, just not to zero. The calculator gives the full optimal amount.
Should I always hedge a winning futures bet?
Depends on your risk tolerance. Hedging guarantees profit but caps your upside. Many pro bettors let futures ride to preserve EV; recreational bettors often hedge to lock in a sure win.