Hedge betting is one of the most common practices in sports betting, with reasons for its usage varying from one person to another. The bottom line for hedged bets is, however, pretty straightforward–mitigating the damage of a poor wager or reducing/eliminating the risk of a given bet and securing winnings. Basically, hedging entails betting on both sides of an event, often done separately, with the aim of avoiding losses in risky bets. For example, you can bet on the Pittsburgh Penguins (-110) to win an NHL game against the New York Islanders (+100), but a couple of hours later, you realize that Penguins—due to an injury of a key player or the suspension of a goalie—are now likely to lose game. In such a case, you can decide to bet on the Islanders at +100 with the aim of recouping your losses in case the bet against the Penguins fails to go through. This act of betting in the other side of the event is what we call hedging.
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