Hedge Calculator
Hedging means betting the opposing outcome to lock in profit or cap your loss on a live ticket. Enter your original stake, the original odds, and the current opposing odds. The calculator outputs the exact hedge stake that produces equal return on either outcome.
Result
When to hedge
Common hedging scenarios in Tennessee:
- You backed a Super Bowl future and your team made the championship game. You hedge the moneyline against the opponent to lock profit no matter who wins.
- You have a multi-leg parlay with one leg remaining. You hedge the final leg's opposing side to guarantee return.
- Live in-game: your halftime spread bet looks shaky. Hedging the live opposing line caps your potential loss.
Formula
Original payout = stake × original decimal odds. Hedge stake = original payout / hedge decimal odds. Guaranteed profit = original payout − stake − hedge stake.
If guaranteed profit is negative, the hedge is too expensive to lock equal profit. You can still hedge to reduce risk, but you will not break even on either outcome.
Frequently Asked Questions
When should I hedge a futures bet?
Hedge when your futures bet has reached the final round (Super Bowl, NBA Finals, World Series) and the opposing-side moneyline is short enough that you can lock guaranteed profit. Use the calculator to find the exact hedge stake that produces equal return on either outcome.
Can I hedge a live in-game bet?
Yes. If your pre-game spread or moneyline looks shaky during the game, betting the live opposing side caps your loss. The hedge stake to lock equal profit decreases as the in-game line moves further against your original bet.
What if the hedge produces negative profit?
If the calculator shows negative profit, the hedge is too expensive to lock equal profit on both sides. You can still hedge to reduce risk and cap your loss, but you will not break even on either outcome. Skip the hedge if the math doesn't work, or wait for the line to move.
Does this calculator account for the book's vig?
Yes, indirectly. The hedge price you input already includes the book's vig. The calculator solves for the exact stake that equalizes outcomes at the prices offered, so vig is baked into the math.
Can I cash out instead of hedging at TN sportsbooks?
Often yes. Most TN books offer cash-out on futures and live bets. Cash-out is simpler than hedging, but the book typically takes a 5 to 10% margin on top of fair value. For larger positions, manual hedging at a sharper book often produces more profit than cash-out at the original book.