Hedge Calculator
Calculate the exact hedge stake required to lock in profit (or minimize loss) regardless of outcome. Useful for futures bets reaching championship games, in-play wagers that have moved heavily in your favor, and bonus-bet conversion strategies.
The hedge formula
To equalize profit regardless of outcome:
hedge stake = (original stake × original decimal odds) / hedge decimal odds
Example: $100 future bet on Chiefs at +500 (decimal 6.0). The Chiefs reach the Super Bowl and the opponent is listed at -200 (decimal 1.5). Hedge stake = (100 × 6.0) / 1.5 = $400. Total risked: $500. Total return either way: $600. Guaranteed profit: $100.
Hedge vs Cash Out
All seven Kansas sportsbooks offer "Cash Out" — the book\'s built-in early settlement. Cash Out values include extra vig, so manual hedging at a competing operator typically extracts more value. However, Cash Out is one click; hedging requires a funded account at a second book.
When NOT to hedge
- Small original bets where the hedge fee (vig) consumes most of the locked profit
- Positive-EV positions you want to ride to completion
- Tax considerations — splitting a win into two smaller wins may push you into a higher bracket inefficiently
Hedge Calculator FAQ
When should I hedge a sports bet?
Hedging makes sense when (1) your original bet has reached a level where guaranteed profit beats variance, (2) you have a futures bet that has reached a championship game, or (3) your live position has shifted significantly and you want to lock in value.
Does hedging reduce my expected value?
Yes — hedging always reduces theoretical EV because both sides of a market include vig. Hedge for bankroll smoothing, not for profit maximization.
Can I hedge with the same sportsbook?
Yes, by placing the opposing wager. Many Kansas operators also offer "Cash Out" which approximates a hedge at the book's preferred (lower) value. Manual hedging on a second book typically delivers better value.