If your original bet is still live and the other side has moved, this works out exactly what to stake there to lock in the same return whatever happens. Hedging happens when your original bet is still live, but the odds have moved enough that backing the opposite result now locks in a profit either way. Comes up a lot with ante-post horse racing, or an accumulator where early legs have landed and the final leg has shortened since you placed it. Hedge stake = (original stake × original price) ÷ new price on the other side. Get that stake down on the opposite outcome and you collect the same total back regardless of which way things go. A £20 bet at 4.00 pays £80 if it wins. If the other side is now trading at 1.50, staking £53.33 on it locks in that same £80 back no matter the result — a guaranteed profit, before any fees the bookmaker or exchange might charge. Mostly once odds have shifted enough in your favour since the original bet that locking in profit on both outcomes becomes possible — without that shift, there's nothing to hedge. Not quite. Cash out is a price the bookmaker sets and offers you directly. Hedging is placing a separate bet yourself elsewhere on the other outcome — you control the number, not the bookmaker. It guarantees the same return whatever happens, but whether that return sits above or below your original stake depends entirely on how far the price has moved since your first bet.Hedging Calculator
Key terms, plainly put
The maths behind it
Worked example
Common questions
When does hedging actually make sense?
Is hedging the same as cashing out?
Does hedging always guarantee a profit?
Hedging Calculator
Rates are fixed reference values for display only, not live market rates.
Stake needed on the other side–
Guaranteed profit–
For 18+ use only. These figures are for working things out, nothing more — they don't predict a result or promise a return. If betting stops feeling fun, that's worth paying attention to. Free, confidential help is available at BeGambleAware.