Hedging a promotion means betting the opposite outcome at another sportsbook so you profit whatever happens. It is the core technique behind turning promos into cash. Here is how to do it properly for each type of promo.
The hedging principle
Choose the hedge stake so both outcomes return the same net profit. The general formula when your promo bet returns R if it wins:
Then compare your net result in each outcome to confirm they match.
Hedging a bonus bet
Bonus bet B at decimal D₁ returns B × (D₁ − 1) if it wins (stake not returned).
$100 bonus bet at +300 (4.00), hedge at −350 (1.286):
- Hedge = 300 ÷ 1.286 = $233.33
- Either way: ≈ +$66.67 (67% conversion)
Hedging a profit boost
Cash stake S at boosted decimal D_b returns S × D_b.
Profit either way = S × D_b − S − hedge. (Profit boosts.)
Hedging a no-sweat bet
Here, a loss is worth something: the refund as a bonus bet (valued at your expected conversion rate, say 70%). Include it:
- If promo bet wins: S × (D₁ − 1) − H
- If it loses: −S + H × (D₂ − 1) + 0.70 × S
Solve for H that makes these equal. The hedge calculator does the algebra. (No-sweat bets.)
Finding the best hedge price
Your profit depends on the hedge price. The difference between −350 and −400 on a hedge can be 5–10% of the promo's value. Always check every book:
| Hedge price | Bonus conversion ($100 at +300) |
|---|---|
| −300 | $75.00 |
| −350 | $66.67 |
| −400 | $60.00 |
| −450 | $54.55 |
A shorter favorite price looks "cheaper" but is the opposite: a hedge at −300 pays more per dollar than one at −450, so you need less hedge money and keep more. The best opposite price matters as much as the promo itself. The OddsHype promos page and odds screen find it across your legal books.
Order of operations
- Find the market and both prices.
- Place the promo bet first (it is the reason for the trade, and some promos limit eligible markets).
- Place the hedge immediately.
- Confirm both bets were accepted at the expected prices.
Common mistakes
- Hedging at the same book (often against promo terms, and the margin is worse)
- Different rules between books (overtime, voids)
- Rounding the hedge too far
- Forgetting the bonus bet does not return its stake
- Hedging every promo when you could afford to hold some unhedged for more EV (When to hedge)
Frequently asked questions
How do you hedge a sportsbook promo?
Place the promo bet at one book and bet the opposite outcome at another book, sized so both outcomes give the same profit.
What is the best hedge for a bonus bet?
The best available price on the opposite side across all your books, typically when the bonus bet is placed at +250 to +500.
Does hedging reduce profit?
Hedging pays the margin on the hedge, so it slightly lowers expected value, but it removes the risk. Bettors with larger bankrolls often hedge less.