Hedging Your Bets 2023 Guide for Beginners
People that bet usually have one goal – earn money and have fun. One does not go well without the other and if you want to both have fun and earn good money you need some strategies, guidance and knowledge.
When betting knowledge is in question, it is easy to find. numerous experts and professionals are willing to share their insights into what they do to make their money and what they had to do to become what they are. There are also self-proclaimed professionals that you either shouldn’t listen to at all or that you can listen but take everything they say with a grain of salt.
When we are talking about betting you all know by now that you need some strategies if you want to be successful. One of those strategies is bet-hedging. It is not that difficult to do or complicated to learn, but despite that, we learned that a very small percentage of people betting on sports hedge their bets. What the deal is we don’t know, but we decided to educate you further on this and make a guide for bet-hedging for beginners. If you want to test this method you can do it at Bet365, one of the most famous online gambling places out there.
Before we start let’s define bet-hedging
Hedge betting is a bet you will make when you want to lock in a certain profit. This is especially done when you are having a longshot wager to win something. Most of these bets are seen when you are wagering on someone to win a title, division, soccer, championship, league, etc.
Hedging your bet means that if you bet on, let’s take soccer and PSG, to win a UEFA Championship and if they win this game they are in and if they lose a game they are out. What you do to hedge that bet is you bet on the other team and lock in a profit, either way, that game goes. But is there a moment when you should and shouldn’t hedge your bet?! Of course.
There is no reason to hedge all of your games, and it would be a stupid thing to do, not to mention it would waste your money along the way. The time you would hedge your bet is when you have the other team with the bet you like as much as you like the one on the primary team. All other ways of hedging your bets do not make any sense and you are simply throwing money away.
Another time to hedge your bets is when you are doing a heavily bankroll-oriented strategy and when you are bankroll limited. When it is a huge win on the line vs you being broke, you probably would want to hedge that bet and try to position yourself somewhere in between these two.
How does bet hedging work?
1. Pick your best smart
As we already said not all bets should be hedged. If you are just having fun, betting on different sports, betting on smaller bets up to 5-10$ then hedging is something you shouldn’t think about. If you are betting bigger money like 100-1000$ then you should consider hedging but only if you can recover what you invested in your bets. If y hedged bet is still returning you far less than you invested then it does not have any sense and you shouldn’t do it. A hedge should be your insurance that if the team you made your main bets on somehow busts, you at least have the hedge bet to make sure you get the invested money back so you are at clear 0.
2. Watch out for the games
Hedge betting works best when you have almost even teams against each other where the odds are almost the same. This is where these hedge bets have the most effectiveness and where you can make sure you are never down on cash. If you are betting on a team you fancy that has low odds, and trying to hedge your bet on a draw or the other team where the odds are a lot bigger you are throwing your money away for no reason. In this scenario, the team you fancied in the first place is a clear favorite and it will take the game, so hedging here makes no sense.
3. Other types of bets
Besides betting on straight game outcomes – win, draw, the loss you can also bet on stuff like the first goal, first corner, foul and other things. We took soccer as an example because this is what we started with and it’s easier to follow and not get confused. If you have a game where one team has three really good strikers you can bet on them scoring a goal. The way you hedge your bet here is that you bet on all three of them but calculate just how much you need to stake on all of them so that either way you win something or you don’t lose your money. Calculate their odds and pay close attention to the spreads and you will always have a successful hedge bet.
4. Do not focus on one thing
Hedge betting works best when you give yourself more opportunities and when you spread your bets around. Use the corners, use the goals, use the result of the game, and use anything you can to get the best hedge to bet possible – one of the best odds you can pick out is the correct scores or the amount of goals teams can give/receive. Stake more money on bets you feel more comfortable with and that feel realistic while using other bets – AKA spreading your bets, to other things to cover all your investment.
Bet hedging sounds and seems difficult when explained like this instead of seen live or shown live. You can try what we told you here for yourself and simply see that it is not that complicated. It sounds a lot worse than it already is. Just keep these 4 things in mind when hedging your bets and you will never make a wrong one and you will never lose money again. A good hedge bet will always be your insurance and it will always be there to cover a potential mistake or unpredicted moment. Gambling life is hard to predict. The ball is round and anything can happen until the ref blows the whistle. You all heard it and you all know it best!