Hedge Bet Calculator
You hold a bet that is looking good: an outright that has reached the final, an accumulator with one leg to go. The calculator works out the second bet that fixes the result now, either by backing the other side at a bookmaker or by laying your selection on an exchange, and shows what you are left with on each outcome.
The formula: hedge stake = original stake × original odds ÷ hedge odds. £10 at 11.00 on a team that reaches the final, opponent now 1.70: 110 ÷ 1.70 = £64.71 on the opponent, and you make £35.29 whoever lifts the trophy.
For an accumulator, enter the total stake and the combined odds of the whole acca as the original bet. Backing the other side works for two-outcome events; in football, where the other side is two outcomes, use the lay or split the hedge with the dutching calculator.
Result
How a Hedge Is Worked Out
A hedge balances two bets so that the money you receive is the same whichever one wins. If your original bet returns stake × odds and the hedge returns hedge stake × hedge odds, the two returns are equal when hedge stake = stake × odds ÷ hedge odds. Everything else follows from that line.
One bet, three ways to hedge it
£10 on a team at 11.00 to win a cup, placed before the competition. They reach the final. A bookmaker now prices the opponent at 1.70 and your team at 2.20; an exchange lets you lay your team at 2.25 with 2% commission. The original bet alone pays £100 profit or loses £10.
| Hedge | Second bet | Your team wins | Opponent wins |
|---|---|---|---|
| None | — | +£100.00 | −£10.00 |
| Back opponent at 1.70, equal | £64.71 | +£35.29 | +£35.29 |
| Back opponent at 1.70, stake back | £14.29 | +£85.71 | £0.00 |
| Lay your team at 2.25, equal | £49.33 (liability £61.66) | +£38.34 | +£38.34 |
| Lay your team at 2.25, stake back | £10.20 (liability £12.76) | +£87.24 | £0.00 |
The lay locks in £3.05 more than the back hedge, because backing the opponent pays the bookmaker's margin a second time: 1 ÷ 1.70 + 1 ÷ 2.20 adds up to 104.3%, not 100%. The "stake back" version keeps most of the upside and only removes the chance of losing the original £10.
Hedging and cash out
A bookmaker's cash-out offer is a hedge priced by the bookmaker. If the equal hedge above locks in £35.29 profit, a fair cash-out on the same bet would be about £45.29 (the £10 stake plus that profit). An offer of £40 means you pay around £5 for the convenience of not placing the second bet. The cash out guide explains how those offers are calculated and when they are suspended.
Hedging fits bets that stay open for weeks, such as the outright markets on a league or a tournament, and the last leg of an accumulator. It never adds value: the second bet costs margin, so a hedge trades expected profit for certainty. Whether that trade is worth it depends on the size of the amount at stake for you, not on the arithmetic.
For the mechanics of the lay itself, including liability and commission, see the back lay calculator.
Related Calculators
Hedging at an exchange means laying, and the amount you can lose on a lay is the liability: lay stake × (odds − 1). The lay liability calculatorshows it before you place the bet.
When two prices already guarantee a profit before any event starts, the stake split is an arbitrage, not a hedge. The arbitrage calculatorhandles that case.
Hedging a free bet works differently because the stake is not returned when it wins. The free bet calculatorshows how much a free bet is worth on its own.
Frequently Asked Questions
What is hedging a bet?
Hedging means placing a second bet against a bet you already hold, so that you win something, or lose less, whatever the result. You can back the opposite outcome at a bookmaker, or lay your original selection on a betting exchange. The price of the hedge decides how much of the original bet's potential profit you lock in.
How much should I bet to hedge?
For the same profit on both outcomes, hedge stake = original stake × original odds ÷ hedge odds. £10 at 11.00 is a potential £110 return; hedging the other finalist at 1.70 needs 110 ÷ 1.70 = £64.71, leaving £35.29 profit whichever side wins. To recover only your original stake if the hedge wins, the hedge stake is original stake ÷ (hedge odds − 1).
Is it better to hedge with a back bet or a lay bet?
Whichever leaves more profit after commission. In the cup final example, backing the opponent at 1.70 locks in £35.29, while laying your own team at 2.25 on an exchange with 2% commission locks in £38.34, because the lay uses your team's price instead of the opponent's and the bookmaker's margin on the second bet is avoided.
Is hedging the same as cashing out?
The idea is the same: give up part of the potential win in exchange for a certain result. Cash out is the bookmaker's own offer, and its price includes a margin. Working out the hedge yourself shows what a fair cash-out figure would be; if the bookmaker's offer is lower, the difference is what the convenience costs.
Can I hedge a bet with three possible outcomes?
Yes, but the opposite of one outcome in football is two outcomes: the draw and the other team. You either back both, splitting the stake as a dutch, or lay your selection on an exchange, which covers both in one bet. The lay is usually the simpler and cheaper route.
A hedge is a second bet with its own stake, and a lay can tie up more money than the original bet. Count both stakes in your budget. 18+. If gambling stops being fun, see our responsible gambling resources.