Sports Betting 101: To hedge or not to hedge

Whether or not to hedge your bets is mostly a matter of ego and mindset.

Many bettors — but certainly not all — will avoid hedging and try to talk you out of it. Sometimes it’s because they don’t want to upset any positive ~vibes~ if a wager is going well, other times it’s because they don’t want to sacrifice potential profits. Sometimes it just simply comes down to pride.

Another large portion of the betting public will hedge or even cash out their bets and the earliest opportunity. It all comes down to individual perspective.

Do you risk letting a bet ride and go for glory? Or do you try to avoid a financial loss at all costs?

If you find yourself in that latter group, there are a number of ways to go about hedging beyond placing a second bet. One option includes posting your ticket on a website like PropSwap, which serves as a sort of eBay for bettors. You can list your already-placed ticket up for auction and attempt to recoup as much of the winnings as the market is willing to pay without having to root against yourself by placing a second bet.

The only thing standing between one bettor and $125,000 is Patrick Mahomes and Daniel Jones. Of course a hedge is involved. https://t.co/3rA4YAFUeu

— BetFTW (@Bet_ForTheWin) November 1, 2021

Hedging is a bit like basketball teams fouling when up by three at the end of games. You’re giving yourself the best chance to win money, but you’re also acknowledging a lack of confidence in the bet you placed. For the most part, hedging is best used for long parlays and outright futures bets.

Even then, you’re still paying a premium to guarantee a win.

Hedging may be the most divisive topic in sports betting, but it’s up to each person to decide on whether or not to partake. If you can handle a reduced payout — and a little bit of stigma — hedging can be a useful tool in any bettor’s arsenal.