Sports Betting: How to hedge your bets?

Hedge your sports bets

To manage your bankroll as effectively as possible, the smartest idea is to hedge your bets. This term is often used in the world of sports betting. Never heard of it? You'll need to start with a basic bet. Then you'll need to make another bet, on the same sporting event, adjusting your stake to enable you to make a profit whatever the outcome of the match. There are several solutions for setting up this hedge:

💰Take advantage of odds adjustment
✨Play on several sportsbooks
🔍Finding sure bets
📝Cover your parlays
🏆Use promos to refund losing bets

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Take advantage of odds adjustment

As you know, odds can be adjusted before or after kick-off! And you shouldn't hesitate to play around with these adjustments, to cover all your bets. What better way to illustrate our point than with an example? You decide to bet on the victory of an outsider in a tennis match. And your bet is off to a good start, as he leads 1 set to 0. You're aware, however, that the favorite may succeed in turning the match around.

And while the underdog's odds have gone down, the favorites have gone up! Let's imagine that the underdog's odds were +125 and you placed $10. This time, it's his opponent's odds that have gone up to +125? So you can place the same bet on this one! You're guaranteed to win $12.50, regardless of the outcome. You won't even need to follow the rest of the match...

It's a strategy you need to master! Especially if you're a fan of live betting... It's at times like these that the odds can change dramatically, depending on how the match is going. This method can also be applied to team sports.

Play at several sportsbooks

There's another method that can make all players happy! You don't even have to be an expert in the world of sports betting. If you haven't already heard, all sportsbooks offer their customers a welcome bonus. Here, you'll need to pay close attention to the withdrawal conditions, so as not to be taken in. In fact, this strategy won't work on the first bets refunded, when they are losing free bets. With free bets, you can't be sure of getting your initial stake back.

However, it may be worthwhile turning to the double first deposit (e.g. FanDuel and DraftKings). Even if the promotion is discounted to free bets, you'll be able to recoup $100 on FanDuel and DraftKings. And to make sure you get your money's worth, you can turn to an undecided bet for the sportsbooks. You need to go for a bet with two outcomes and find two odds around -140. You can then bet your first free bet on outcome 1 and your second on outcome 2.

With this strategy, you're sure to make a profit! What's more, you'll be able to withdraw the money you've won right away. This can also be the case with losing first bet bonuses, when they are paid out in cash. So you'll need to keep a close eye on the various starting promotions available from sportsbooks.

Finding sure bets

For hedging bets, this is one of the best techniques! When it comes to sure bets, you don't take the slightest risk when placing a bet. Simply cover all the outcomes and you're sure to make a profit, whatever the result.

In the US, however, it's virtually impossible to find one with non-boost bets. So you'll need to keep a close eye on all the boosts offered by sportsbooks, especially as they're not always the same.

From now on, you're in for a treat! Let's imagine that a sportsbook boosts the odds of Team 1's NBA win, while Team 2's odds remain very attractive at another sportsbook. You then need to adjust your bet, so that you're sure to win money.

There are several calculators to help you work out how to adjust your bet, and whether the odds offered can be considered sure bets. We advise you to turn to major events for this strategy. That's when sportsbooks offer the best boosts!

Covering your parlays

Are you a fan of parlay betting? There's a way to cover them when they're off to a good start! Here's an example to explain how. You've made a parlay with 5 legs. And the first 4 have already gone through! There's just one more to go, to win the potential winnings.

However, it would be foolish to lose everything when you've done the hardest. You can therefore bet the opposite of your last current bet. You have to make sure that you can win money in both cases, but logically, for a parlay bet with several legs, you'll have enough to do it!

Using promotions to refund losing bets

There's no real cover here. However, it will be possible to play and win bonuses, even on losing bets. You'll need to take an interest in welcome offers, as some offer cashback.

Take a parlay promo example! It will reward those who play parlays. In the days following your registration, you'll get a free bet based on your parlay bets, over several periods.

This may well convince you to try your luck! Regardless of the result of the combination, you'll take advantage of this promotion and potentially collect free bets that could add to your bankroll.

One more thing! sportsbooks sometimes offer cashbacks for special occasions. You'll need to keep up to date with all the offers available from the various operators. Stake-based cashback can be useful for all players!