Hedge bet calculator

The hedge calculator

Enter your open bet and the best price on the other side at another bookmaker. A comma or a full stop both work as the decimal mark. The example values are from Example 1 below.

What the calculator works out

Hedging means you have already placed a bet and then bet on the opposite outcome to fix the result or reduce the risk. It is most interesting when the price has moved in your favour: your pick is now more likely than when you placed it, so the other side is priced higher.

The calculator shows every result "from now": your original stake is already spent and not deducted. Below the table it also shows what is left after subtracting the original stake. For markets with two outcomes (tennis, over/under, handicaps without a draw) a single hedge bet is enough. For a football 1X2 market you split the hedge over two outcomes; hedging an accumulator on the last leg shows how.

Formula 1: the same result either way

P is the potential return of your open bet (stake × odds), G the odds on the other side.

hedge stake = P ÷ G result from now = P − hedge stake

If your bookmaker offers a €70 cash-out at the same moment, the hedge locks in €6.36 more. With your pick at 1.70 and the other side at 2.20, the fair chance of your pick is (1/1.70) ÷ (1/1.70 + 1/2.20) = 56.4%, so the bet is worth about €78.97 and the cash-out is about 11% below that. If the hedge bookmaker passes on Austria's 5% betting fee, it comes off the payout: at odds of 2.20 × 0.95 = 2.09 the hedge costs €66.99 and locks in €73.01 instead.

Formula 2: your stake back, the rest keeps running

Many people don't want to lock in everything; they only want to make sure they can't lose. Then you stake just enough that the hedge returns your original stake S plus itself if your pick loses:

hedge stake = S ÷ (G − 1)

In Example 1: €40 ÷ (2.20 − 1) = €33.33.

• Your player wins: €140 − €40 − €33.33 = +€66.67 in total
• Your player loses: €33.33 × 2.20 = €73.33, minus €33.33 and €40 = €0 in total

You give up part of the possible profit (€66.67 instead of €100 without a hedge) but can no longer lose money on this bet. The calculator above offers the full and the half hedge; for this "stake back" version use the formula, it takes ten seconds.

Example 2: when the price moved against you

Hedging also works when the price has moved against you, but then only at a loss. Say your player lost the first set and is now at 6.00, with the other side at 1.18:

• Hedge stake: €140 ÷ 1.18 = €118.64
• Either way, from now: €140 − €118.64 = +€21.36
• Counting the original €40: −€18.64 in total, instead of −€40 or +€100

That is a large stake to save €21.36. Hedging a losing position mostly makes sense when you would otherwise lose sleep over it, and it always costs some margin.

Hedge, sure bet and cash-out: the difference

A sure bet calculator splits a total stake across all outcomes at once, because the best prices at different bookmakers add up to less than 100%. A hedge starts from a bet you already placed and only fixes what that bet has become worth. The cash-out does the same in one click, at the bookmaker's price.

The hedge maths is also what you use when one leg of a sure bet fails and the second leg is no longer available at the planned price: what to do when an arbitrage leg fails.

What to watch out for

• Prices move. In-play, markets get suspended for a few seconds after every important moment. Recalculate if the price changes before your bet is accepted.
• Settlement rules. Both bets must settle on the same thing. A tennis retirement or a match that goes to extra time can be settled differently at two bookmakers. See tennis retirement rules and overtime rules.
• Betting fee. In Austria some bookmakers pass on the 5% betting fee. It comes off the payout, as if the odds were 5% lower. Tick the box in the calculator if yours does.
• Hedging costs margin. On average every hedge gives up a little expected value. It reduces swings; it does not create profit.

Frequently asked questions

How do I calculate a hedge stake?

For the same result either way, divide the potential return of your open bet by the odds on the other side. With a potential return of 140 euros and odds of 2.20 on the other side, that is 63.64 euros, and you lock in about 76.36 euros from now.

How much do I stake to just get my stake back?

Divide your original stake by the odds on the other side minus 1. With a 40 euro stake and odds of 2.20 on the other side, that is 33.33 euros. If your pick loses you finish at zero; if it wins you keep the rest of the profit.

Is a hedge calculator the same as a sure bet calculator?

No. A sure bet calculator splits one total stake across all outcomes at the same moment. A hedge calculator starts from a bet you already placed and works out the counter-bet needed to fix its current value.

Is hedging always better than the cash-out?

Not always. A hedge at a better price usually locks in more, but it needs a second account and spare money, and the price has to still be available. Enter the cash-out offer in the calculator to compare both.

Sources

• Unternehmensserviceportal (USP, Austria): Wettgebührenabrechnung
• RIS: Gebührengesetz 1957, § 33 TP 17 (betting fee)
• Wikipedia: Hedge (finance)
• Bookmakers' betting rules, sections on cash-out and settlement of retirements and extra time

As of October 2026. The examples are illustrations with the stated odds. The calculator rounds stakes to the cent.

Not betting, legal or tax advice. 18+. Betting involves risk and no profit is guaranteed: odds change, bets get voided and accounts get limited. Only bet money you can afford to lose. Our responsible gambling page lists free help, and the disclaimer applies.