Learning to hedge your bets can help save a mountain of money when your sports betting in Arizona. A more advanced betting strategy than some are used to using. And in this detailed breakdown, we’ll share exactly how to master hedge betting in Arizona faster than you thought possible.
What is hedge betting in Arizona?
At its most basic level, hedge betting is nothing more than putting a wager on both sides of a game or match to guarantee a payout. Regardless of the game’s outcome, you’ll still get paid because you have money on “both sides of the ball”.
As a quick example, let’s say you’re betting on the Arizona Diamondbacks and the Philadelphia Phillies game. The Diamondbacks are the favorites at -190, and the Phillies are the underdog at +155.
You are looking for a way to score some quick, so you drop a $200 bet on the Phillies – even though you are a big Diamondbacks fan!
To hedge that bet, though, you decide to throw $100 on the Diamondbacks in case they come out on top. But, of course, right out of the gate, you’ll be down $300.
If the Phillies win, though, you’ll get a nice little profit of five dollars total (even with that $300 bet). If the Diamondbacks come out on top, you’ll still be pretty happy. You’ll only have lost half of the initial bet that you put down on the game, to begin with.
Hedging your bets protects your cash in a way that straight bets can’t. As a result, you mitigate your downside and protect against risk. You cut a little bit into your potential winnings, though, which is why you have to be smart about hedging your bets in the first place.
That’s what the rest of this detailed guide is all about!
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Strategies for successful hedge betting Arizona
The cool thing about these kinds of wagers is that every legitimate sportsbook in the industry lets you hedge your bets without a lot of headaches and hassle.
Top Arizona sports betting sites:
- Hard Rock
- Caesars Sports
- Bally Bet Arizona
- WynnBET Sportsbook AZ
- FuBo Sportsbook AZ
… All have bit digital betting slips that let you hedge faster (and more strategically) than you would have been able to otherwise.
At the same time, though, gamblers interested in hedge betting Arizona sportsbook strategies that really work are going to want to be careful about when they hedge. Some wagers shouldn’t be hedged at all, wagers that actually risk you losing even more money if you go down that road.
Here are some effective strategies for successful hedge betting going forward!
Hedging your future bets is almost always a great strategy.
Just as an example, let’s say that you are sure the Arizona Cardinals are going to win the Super Bowl this upcoming season.
You put $100 down for the Cardinals to win at +300 odds, for a potential payout of $400 ($300 in profit).
The Cardinals steamrolled through this season, crush it in the playoffs, and find themselves in the actual Super Bowl. On the other side, though, are the Kansas City Chiefs – and they are the underdog at +130!
To hedge your bets here, you’d put a wager (and extra wager) on the Chiefs. For example, a $200 wager on the Chiefs at +130 odds will pay out $460, a potential profit of $260.
Now you have yourself covered on both sides no matter what happens in the game. So you can kick back, relax, and watch the Super Bowl knowing that you’re going to make some money no matter what.
Parlay hedge betting Arizona strategies are effective, too. A parlay wager is basically a string of individual wagers that have been combined together into a “super bet.” Each individual wager – called a parlay leg – needs to be a winner for the entire parlay to payout.
Let’s say that you put down a three-leg parlay on a couple of different baseball games. Let’s say that you bet the moneyline on the Diamondbacks, the Dodgers, and the Red Sox to all win their upcoming game.
The Diamondbacks, the Dodgers, and that the Red Sox are all favorites at -110, -120, and -100, respectively.
$100 wager on this three leg parlay would payout (potentially) $700 for a $600 profit.
Now let’s say that the Diamondbacks and the Dodgers both win their games and the Red Sox play the Yankees. You want to be sure that you cash in on this parlay no matter what, so you hedge your bets with a bit of money on the Yankees to beat the Red Sox.
This extra wager, let’s say Yankees versus Red Sox (+110), costs $200 to pay out $420.
No matter what happens with this third leg, you’re going to make some money! If the Red Sox wins, you get your entire parlay and take home the full $600 in potential profit. If the Yankees win, though, the parlay is busted, but you win $420 from hedging your bets.
Live betting hedges
Live betting is always fast-paced and action-packed, with plenty of potential for hedging your bets.
The attractiveness of hedge betting Arizona players actually hedging sports bets during life play-action comes from being able to see how the game is unfolding in real-time. In addition, unlike bets placed before the game, live wagers can be put in at any point in time between the opening and closing whistles.
This means moneyline or other pregame wagers can be locked in and then hedges rolled out depending on what happens during the game itself. Maybe a Moneyline pick for the Phoenix Suns to cover the spread as an underdog turns into another pick for them to win outright when you see how the game unfolds.
Arbitrage vs hedge betting
Arbitrage betting is a little different than hedging sports bets. Instead of placing a bet opposite of your initial wager, you would instead find “value” in a particular bookies betting odds. Then all you have to do is place multiple bets to capitalize on those opportunities.
Arbitrage betting (compared to hedge betting Arizona sportsbook strategies) can be a little more difficult to pull off without a lot of research. You really have to have your finger on the pulse of these games to win with arbitrage.
Hedge betting is better suited to newbies and veterans alike that want a more casual experience. Of course, you’ll still be protecting your downside, but you won’t have to work as hard to find winners.
When is hedging the right move when betting in Arizona
When making any wager (hedge or otherwise), you need to be sure that you feel confident the outcome you are protecting has a better chance than not of coming true.
Let’s use this as an example.
Say the Cardinals have -110 odds to come out on top of the Seahawks as a moneyline bet. You’d need to believe that the Cardinals would lose to the Seahawks at least 52.4% of the time for this wager to make sense.
The implied probability for a -250 odds favorite would mean that sports bettors believe there’s at least a 71.4% chance of the favorite beating the other team in that game.
At any point in time, you feel your original wager isn’t going to hit. It’s time to consider hedge betting Arizona strategies. These are tools you can use to neutralize risk, balance the books a little bit, and come home with a profit when you would have otherwise taken a sizable loss.
Is it smart to hedge my bets in AZ?
Absolutely! Hedge betting (the right moments, of course) is a powerfully effective tool to lock in profits and protect the downside.
This doesn’t necessarily mean you’ll want to hedge every bet, though. Some bets can’t be hedged effectively without eliminating all potential payout, neutralizing the point of hedging in the first place.
When you take particularly risky bets, though (with futures and parlays especially), hedging almost always makes sense. You need to be sure that you are calculating how much you risk to cover your downside, though.
You certainly don’t want to wash all of your potential profits away when hedging sports bets. That’s for sure!
FAQ’s About Hedge betting Arizona
Hedging should always be used as a tool to protect risk and downside. For example, if you’re nervous your wager might not come out on top, hedging might be the way to go.
Definitely not! As highlighted above, not all wagers should have hedge betting happening on the opposite side. Therefore, you need to be smart and strategic about how you roll these kinds of wagers out.
Hedge bets are never guaranteed payoffs, but they do protect your risk more than almost any other strategy.
The beautiful thing about the best hedge betting Arizona sportsbooks around is that they all allow for these kinds of wagers to be made. So you won’t have any trouble locking in these kinds of bets!
Hedging is wrong in two specific circumstances: The first is when you are absolutely certain that the initial wager you’ve put down is a winner. If you are dead set on that coming out on top, there’s no reason to spend any money on what you feel is a loser.
Secondly, you don’t have to be hedging sports bets when there’s no profit to be made. You would be better off letting your initial bet roll than canceling out any potential payoff. Don’t force yourself to lose money when you don’t have to!