Hedge calculator
You already have a bet open and the odds have moved. This calculator finds the stake on the opposite side that makes your result identical whichever way it lands.
The formula
Hedge stake = (original stake × original odds) ÷ hedge odds. Both outcomes then return the same total, so your profit or loss is locked regardless of the result.
Hedging locks a loss just as happily as a profit
A hedge only guarantees profit when 1/original odds + 1/hedge odds is less than 1 — the same condition as an arbitrage. If the odds moved against you, the calculator will show a locked loss on both sides. Sometimes accepting a small guaranteed loss beats the variance of letting the bet ride; sometimes it does not. The calculator gives you the numbers, not the decision.
Common uses
- Completing an arb late: one leg is placed and the other price moved — hedge at the best remaining odds and check the damage.
- Locking a futures position: an early-season outright bet is now short-priced and you want cash off the table.
- Middling: if the hedge line differs from the original line, you may keep a window where both bets win. This calculator assumes a pure two-sided hedge.
Related reading: common arbitrage mistakes covers the errors that create forced hedges in the first place.