Hedge
What does "hedge" mean in sports betting?
A hedge is a bet on the other side of an earlier wager to shrink how much you can lose, at the cost of how much you can win.
Hedging comes up most with parlays and futures, when an early bet is close to cashing and you want to protect some of the profit. You bet the opposite side so that more of the possible outcomes leave you ahead.
The hedge bet has vig on it too, so on average hedging lowers your expected value. It's a risk decision, not a profit move. It makes sense when the swing between outcomes is bigger than you're comfortable with.
Example
You bet $20 on a three-leg parlay at +600. The first two legs hit. If the last leg hits, you win $120. You bet $60 on the other side of the last leg at +100. If the last leg hits: +$120 on the parlay, -$60 on the hedge, net +$60. If it misses: -$20 on the parlay, +$60 on the hedge, net +$40. Without the hedge it was +$120 or -$20.
Related terms
Moneyline
A moneyline bet is a wager on which team or fighter wins outright, with no point spread involved.
Parlay
A parlay combines two or more bets into one ticket. Every leg has to win, and the payout is the odds of each leg multiplied together.
Expected value (EV)
Expected value (EV) is the average amount a bet would win or lose per play if you could make it many times. Positive EV (+EV) means the price is better than the true chance.
Line movement
Line movement is when a sportsbook changes a spread, total, prop or price after it opens, usually because of news or the money coming in.
Go deeper
Pull up to the board.
Every play on the board comes with its price, its confidence and the reasoning, written for the books you actually use. It's free to join.
Join DARIMARKET free