Hedge Calculator
Enter an open bet and the other side's price to see the even hedge.
- Total staked
- $414.29
- Returned if either side wins
- $600.00
- Guaranteed profit
- $185.71
- If you do not hedge and the open bet wins
- $500.00
- If you do not hedge and it loses
- −$100.00
- Check: open bet wins, hedged
- $185.71
Sized so both outcomes return the same amount. A smaller hedge keeps some upside and some risk.
Educational tool. Bandwagon does not take or place wagers. Results are arithmetic on the numbers you enter, not advice.
How the hedge Calculator works
If your open bet wins it pays stake × d. A hedge bet on the opposite side of H at odds dh pays H × dh if it wins. Setting those equal gives H = stake × d / dh.
Both outcomes then return the same amount, stake × d. The guaranteed profit is that return minus everything staked: stake + H. If the other side's price is poor, the guaranteed result can be smaller than the profit you would have made unhedged, or even a loss; a hedge buys certainty, not value.
To hedge only part of the position, use the Futures Hedge Calculator, which shows the result at 0, 25, 50, 75 and 100% of the full hedge.
Hedge Calculator example
You enter
- Open bet stake
- $100
- Open bet odds
- +500
- Odds on the other side
- -110
- Odds format
- American (−110)
You get
- Total staked
- $414.29
- Returned if either side wins
- $600.00
- Guaranteed profit
- $185.71
- If you do not hedge and the open bet wins
- $500.00
- If you do not hedge and it loses
- −$100.00
- Check: open bet wins, hedged
- $185.71
A 100 bet at +500 would return 600. At −110 on the other side the hedge is 314.29, total staked 414.29, and both outcomes return 600, a guaranteed 185.71.
Hedge Calculator questions
How do I calculate a hedge bet?
Multiply your open bet's total payout by the stake it needs on the other side: hedge = open stake × open decimal odds ÷ hedge decimal odds.
Does hedging always guarantee a profit?
Only if the open bet's potential payout is large enough compared with the other side's price. The calculator shows a guaranteed loss when it is not.
Should I hedge?
It trades expected value for lower variance. If the other side's price is fair, hedging does not change your expected result, only its spread.
What does a partial hedge do?
It locks in some profit and keeps some upside. The Futures Hedge Calculator tabulates it.
Related calculators
Futures Hedge Calculator
Hedge a futures ticket: the hedge amount, the locked profit and what a partial hedge does.
Arbitrage Calculator
Two- and three-way arbitrage: the stake split that locks in the same return, and the margin.
Expected Value Calculator
The average result of a bet if your win probability is right, and the edge over the price.