Sports Betting: Let It Ride Or What?

Naturally now that prime sports betting season is underway, it is a good idea to take a look at your approach when you are about to win a fairly substantial sports wager. The question that comes up in that situation is always some version of “…should I hedge, or should I let it ride instead?”

Now before you even read any further understand right up front, there are no rules written in stone about saying yes or saying no the the hedge question. It all comes down to you and your approach.

Start with a working definition so everyone is on the same page here. What is a hedge anyway? In the world of sports betting, a hedge is something like insurance. You are paying a premium to offset any potential losses. Here is how that shows up in the real world. Suppose you are in on a sports bet that has a pretty big payoff. You will understand why hedging a sports bet with a smaller payoff doesn’t really make sense in just a bit.

So anyway, there you are. You placed a sports bet with your favorite online sports book. The potential payoff is sizable. Perhaps its a big futures bet. Maybe it is the last and final piece of a parlay where you could reap a windfall. Now comes the hedge.

You go back to your sports book or perhaps they even suggest it to you. What you are looking for is another sports betting opportunity, or your hedge that will at least put something in your pocket even if your primary sports bet doesn’t work out the way you hoped.

Yes, it is true that you are making more than a single sports bet. But the point, the thinking behind this strategy that you want to understand that you only ever want to select a hedge bet that will in effect counterbalance your primary sports betting choice.

So go back to the last piece of the parlay example above. Suppose your possible winnings from this sports bet could be about $5,000 or so. A nice chunk of change by any measure. Suppose by this point you have put down about $275 or so and now you are on the edge of winning $5,000. Or of course of not winning anything at all and having forked over $275. A hedge bet would be say another $50 wager where your potential winnings are about $500 but your sports bet is only $50. This counter sports bet is your hedge. Of course you could lose both, but the theory is you choose wisely with your hedge bet.

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