Purpose:
– This calculator will help you determine how much to you should money you should hedge on the other side of a bet, and your expected profit / loss in both win scenarios
– It is risky to bet very specific amounts (ex. $37.66). It is best not to hedge the exact optimal amount, but to instead round the hedged bet to the nearest $5 (ex. $35 or $40)
Instructions:
– For Sportsbook A: Enter the line’s American odds, and the dollar amount you will bet on it
– For Sportsbook B:
- Go line shopping to find the best odds for the other side of this line on another sportsbook. Enter these odds into the “Hedge Odds” box
- Using the outputted optimal hedge amount as a guide, input the amount of money you will bet on this line
– You can then review how much you’ll expect to profit or lose in either win scenario
| Bets | |||
|---|---|---|---|
| Sportsbook A - Main Bet | Sportsbook B - Hedge Bet | ||
| Bet Odds (American) | Hedge Odds (American) | ||
| Bet Amount ($) | Hedge Amount ($) |
Optimal: $126.38 |
|
| Potential Outcomes | |||
| If Sportsbook A Wins | If Sportsbook B Wins | ||
| Total Wagered | XXX |
Total Wagered | XXX |
| Total Payout | XXX |
Total Payout | XXX |
| Total Profit/Loss | XXX |
Total Profit/Loss | XXX |