Hedge Calculator

What is Hedging a Bet?

Hedging is placing a bet on the opposite outcome of your original wager to reduce risk. If your original bet is winning — like a futures bet nearing its conclusion or a live bet where odds have shifted — you can lock in guaranteed profit by betting on the other side at the new odds.

This calculator tells you the minimum odds you need to find on the other side to guarantee your desired profit. Enter your original position and desired minimum profit, and we'll show you exactly what to look for.

Think of hedging like insurance: you pay a premium (reduced upside) in exchange for certainty. Professional bettors and prediction market traders use hedging constantly to manage their portfolios and convert paper gains into real money.

When Should You Hedge?

Futures bets near the finish line: You backed a team to win it all at long odds before the season. They're deep in the playoffs now. Hedge to lock in profit before the final game. This is the most common hedging scenario — your $50 bet at +2000 is suddenly worth real money, and you'd be crazy not to lock some of it in.

Live bets with shifted lines: You bet on a team early in a game at good odds. They're winning big now and the other side's odds have ballooned. Hedge to guarantee profit before anything crazy happens. Live markets move fast, so have this calculator ready.

Prediction markets: You bought shares at a low price on Polymarket or Kalshi, the market has moved in your favor, and you want to lock in gains without waiting for resolution. Selling your position is one way to exit, but hedging on a different platform can sometimes yield better returns.

Multi-leg parlays: Your 4-leg parlay has 3 legs down and one to go. The potential payout is huge, but you're one loss away from zero. Hedging the final leg guarantees you walk away with something no matter what.

The Tradeoff: Guaranteed vs. Maximum Profit

Without hedging, if your original bet wins you get the full payout. But if it loses, you lose everything. Hedging trades some of that upside for a guaranteed floor.

Set "guaranteed minimum profit" to $0 to break even no matter what. Set it higher to lock in more, but you'll need better odds on the other side. The calculator shows you exactly where that line is.

The math behind it is straightforward: if your original bet pays $600 on a $200 stake (3.00 decimal odds), your max profit is $400. If you want to guarantee $100 profit, you'd need to risk $300 on the other side ($400 max profit minus $100 guaranteed = $300 hedge bet). The required odds on that hedge determine whether it's worth doing.

How to Read the Results

Required odds: The minimum decimal odds you need to find on the other side to hit your profit target. If the best available odds are lower than this number, the hedge doesn't work at your desired profit level — try lowering your guaranteed minimum.

Hedge bet amount: How much money to put on the other side. This is calculated automatically based on your original position and profit target.

"If Original Wins" vs. "If Hedge Wins": These show your net profit in each scenario. When you set a guaranteed minimum, both numbers should be at or above that floor. If they're equal, you've created a perfectly balanced hedge.

Check actual odds: Found odds on the other side? Enter them in the "check" section to see your real P/L before placing the bet. This is especially useful when the available odds don't perfectly match the required minimum — you'll see exactly how much you'd make or lose in each scenario.

Who Uses Hedge Calculators?

Sports bettors with active futures positions or multi-leg parlays heading into the final game. When your $25 Super Bowl future at +5000 is one win away from paying $1,275, hedging is the smart play.

Prediction market traders looking to realize gains before event resolution. Markets on Polymarket and Kalshi can take months to resolve — hedging lets you take profit now instead of waiting.

DFS players in late-game situations where they're leading tournaments and want to protect their position by hedging individual player outcomes on sportsbooks.

Anyone who's ever said "I can't believe I didn't lock that in" — this calculator exists so you never have to say it again.