Hedge betting is a strategy that many have heard of but one that is often not explored thoroughly, so this makes it a good topic for our next blog article.
Relatively new to the world of trading? Check out VOdds’ guide to sports betting.
Hedge betting is essentially a way of giving you some insurance to avoid a loss from occurring from your initial bet. This means you bet on another outcome to happen that you initially didn’t bet on.
While it seems strange, its purpose is to guarantee you win no matter the result and subsequently build your bankroll. Obviously an integral part of the process is if the sportsbooks have the necessary odds on offer for your hedge bet to be viable.
This leads us to the different types of hedge bets. To start with, many will hedge due to changes surrounding the match you intend to bet on. The reasons include weather changes and star players being ruled out. Then, if you believe these things warrant placing a hedge bet then you can certainly do so. For these aforementioned reasons, you can also place a hedge bet in-play to act as insurance if a key player gets injured early on as an example.
Next up is hedging for guaranteed profits, where you’ll place a bet when the odds of your original bet have heavily increased. Inherently when this occurs, the odds of the other team triumphing rise, thus potentially making it viable to place a hedge bet if you’re not confident in your first bet.
Hedging futures bets is another vital option, for you can ensure that you’ll profit. Seeing as futures bets like who’ll win events in a variety of sports events, tournaments and championships are usually at favourable solid odds, you can definitely guarantee profits.
You can also hedge bet on parlays/accumulators that you’ve placed, which further adds to the variety of ways hedge betting can be used.
Once you feel like you’ve got your head around hedge betting and are comfortable with all its mechanics, you can give it a try. As you familiarise yourself with its workings, you’ll then improve your judgement when and when not to place a hedge bet.
All in all, if you’re willing to spend the time learning the ropes of the system, hedge betting is certainly a decent option for any bettor.