How To Hedge Your Bets
Hedging bets is a term which is more used than understood in sports betting. Correctly hedging your bets results in quite dramatically reducing your risk, but done incorrectly could have a major negative impact on your bottom line. Not all punters understand the exact science behind hedging bets, and would do well to do some serious reading on the subject.
Was Is Bet Hedging?
Basically it’s a way to reduce risk on a bet which you are no longer comfortable with, or don't feel like you have calculated the odds of probability properly. Hedging a bet is done when a clean and positive bet is not available. It should not be done as a first go to move, as bet hedging will not result in as large a pay out as possible. The simplest example of bet hedging is to bet on both sides of a football game. This is only done when you are really not sure who is going to win, and do not feel happy betting on only one team. This, of course, means that you will, without a doubt, win one of your bets, but will lose money on the other.
One Step Further
In its simplest form bet hedging is a safety net. When it is completely understood however, knowing how to hedge your bets can be a powerful tool to ensure a win. An example of a more intricate bet hedging technique is to place a bet on a series.
For example, if you are wagering on the Super Rugby Championship, you will have placed your bets near the beginning of the tournament. So say you have bet on the underdog at +200 right at the beginning, but you feel half way through the tournament that your initial idea may not pay off. Bets can be placed throughout the series and the odds on the teams fluctuate according to favouritism.
So if you have already backed the underdog at the beginning of the tournament with good odds, you can back the favourite half way through the tournament when their odds have dropped due to performance. This will then result in a pay out if either the underdog or the favourite wins, with good odds on both sides.
In Game Hedging
Live betting, or in game betting is something which is offered by many online betting sites. For punters with a good knowledge of how to hedge bets, this form of betting can be used to seriously reduce the risk of placing a bet on a team before the match begins. In-game opportunities to make profit happen surprisingly often, if you have a sharp eye and know what you are doing, and you can also consult an online sports betting guide to give yourself the edge.
When To Hedge
Hedging, as mentioned before should not be a first option unless you see some serious value in it before you even begin. Knowing when it places value on an existing bet is key to knowing when to hedge. The main reason to hedge a bet is because the second bet is greater in value. This could be because you are using two different sites and taking advantage of an arbitrage situation, although this is frowned upon.
If hedging was an option before you even placed your primary bet, then the odds are the hedging will be a good plan. Again, this should only be undertaken by experienced punter who really understand the science behind it, as well as how the online betting system works.