1. 06-13-13 07:08 PM #1
    Smoothieopath
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    Need a lesson on hedging

    Hi guys,

    I've used the search function before posting this, but didn't (couldn't?) find a good and easy to understand explanation of how to hedge your bets.

    1. Do bookies allow going the opposite way on the same bet?
    2. When exactly does it make sense to hedge? Easy examples would be appreciated. (how do you hedge a parlay?)
    3. Links to good reading materials on the subject will be much appreciated.

    Thanks in advance for all the help.
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  2. 06-13-13 07:15 PM #2
    Smoothieopath
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    Just thought of an example:

    Say there's a baseball game Pittsburg vs San Francisco (currently live). I bet $10 on PIT before the game starts x 1.5 = potential return of $15. Once the game has started, PIT isn't doing so great, and odds have shifted in favor of SF x 1.3. Do I bet another $10 on SF now? giving me a potential win of $13? I would be out $20 bucks now and either outcome would be a loss... I'm definitely missing something. Forgive me for my stupidity, tired after work.
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  3. 06-13-13 07:43 PM #3
    leetreaper
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    http://www.frixo.com/sbook/articles/...edge-a-bet.asp
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  4. 06-14-13 04:39 AM #4
    Topo
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    People who hedge typically do so when one of their bets is in a potentially winning position. They will bet the opposite side to ensure they make a small profit on the event. Usually people don't hedge a losing position to guarantee a smaller loss, but it does happen.

    Be careful though. Hedging can lower your risk in the short term, but it may prove unprofitable in the long run. The reason is because you pay the juice on both sides.

    I would advise you to only hedge when your prediction for the event has actually changed. If not, then you're really just betting against yourself and eating into your long term profits.
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  5. 06-14-13 09:55 AM #5
    Smoothieopath
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    Thanks for the replies, guys. I guess I'll have to play with math a little to get it completely.
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  6. 06-15-13 10:11 AM #6
    Smoothieopath
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    Ok, making baby steps here. Seeing a soccer game Uzbekistan vs Qatar, 1.33 vs 11. Placing $40 on the favourite team to win (return $53.30) and $5 on the underdog (return $55.00). This way I'm out 45, but making money regardless which team wins... I just asked my bookie if it's allowed, they said yes (as long as it's not a parlay). Isn't it an obvious steal from them?
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  7. 06-15-13 11:27 AM #7
    easyliving
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    Quote Originally Posted by Smoothieopath View Post
    Ok, making baby steps here. Seeing a soccer game Uzbekistan vs Qatar, 1.33 vs 11. Placing $40 on the favourite team to win (return $53.30) and $5 on the underdog (return $55.00). This way I'm out 45, but making money regardless which team wins... I just asked my bookie if it's allowed, they said yes (as long as it's not a parlay). Isn't it an obvious steal from them?
    you realize soccer games can end in draws right.
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  8. 06-15-13 01:14 PM #8
    Smoothieopath
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    I believe in that case it's a push? The bookie returns the money, no?
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  9. 06-15-13 03:27 PM #9
    easyliving
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    Quote Originally Posted by Smoothieopath View Post
    I believe in that case it's a push? The bookie returns the money, no?
    http://www.5dimes.eu/sb_rules.html#soccer
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  10. 06-15-13 03:46 PM #10
    Smoothieopath
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    Hah, thank you for the link. Let's hope these two don't tie
    Last edited by Smoothieopath; 06-15-13 at 07:23 PM.
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  11. 06-16-13 12:11 AM #11
    andywend
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    Quote Originally Posted by Smoothieopath View Post
    Ok, making baby steps here. Seeing a soccer game Uzbekistan vs Qatar, 1.33 vs 11. Placing $40 on the favourite team to win (return $53.30) and $5 on the underdog (return $55.00). This way I'm out 45, but making money regardless which team wins... I just asked my bookie if it's allowed, they said yes (as long as it's not a parlay). Isn't it an obvious steal from them?
    Smoothie, you bet into something called a 3-way market which is why one side was-300 and the other side +1000. The 3rd option was to bet on the draw which happens quite frequently in soccer games (though not so often when there is a heavy favorite involved). As you said, hope the game doesn't end in a tie (Draw).
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  12. 06-16-13 09:09 AM #12
    Smoothieopath
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    Yeah, rookie mistake, as they say. Thanks for the input though.
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  13. 06-16-13 11:58 AM #13
    allabout the $$$
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    say you have a 2 team parlay on the sunday football games one game is at 1 and the other game is at 4 the bet is 50 to win 130 if the 1 oclock game has won then you could bet the opposite side of the 4 oclock game for 75 so you would win either 25 or or 47.50.

    no bookmakers that i know of have an issue with hedging you bets
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  14. 07-17-13 09:16 AM #14
    shevabets
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    Bookies don't just 'allow'... they love it when you bet both sides of the game.
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