Suppose you enjoy betting strategies. You will also enjoy hedge betting in Maryland. On this page, we are going to tell you how it works. We also want to give you a bit of advice on increasing your chances of winning with this type of bet.
Hedging sports bets at MD online betting sites
Hedging sports bets is something you will want to think about once you start getting serious about gambling. If you learn how to do proper hedge betting in Maryland, then your losses will be kept to a minimum.
In fact, you may be able to make a bit of profit here and there. Thankfully, learning how to hedge bets isn’t all that difficult. Once you know how to read odds, it should be simple for you to work out the best way to hedge your bets.
Best sportsbooks for Hedge Betting in Maryland
While you can place hedge bets at any of the sportsbooks in Maryland, we do suggest that you put a little bit of thought into where you gamble. Remember, the whole idea of hedging sports bets is to cut your losses or even generate a bit of profit. In order to do this, you need to track down the sites that offer the best odds. Luckily for you, we have done the hard work already. These are our top picks for hedge betting sites in Maryland.
FanDuel Hedge betting
FanDuel is a site that keeps things simple. You are not going to be finding any crazy bets here. This is just what somebody interested in hedge betting wants. They need a site with limited markets but great odds. You can’t be successful with sports bet-hedging unless you keep things simple.
BetMGM is a huge site. When a site gets as big as this, they can offer a ton of betting markets. The real excitement with BetMGM, however, is the regular odds boosts that they offer. This can be a great way to squeeze a little bit more cash out of your bet-hedging.
Barstool Hedge betting
Sports, and more sports. That is what Barstool Sportsbook is all about. If you want a site that goes in nice and heavy on international events, then this is where you need to be. You may even find an event or two that you won’t see at other sportsbooks in Maryland.
DraftKings is a firm favorite of Maryland residents. This site is well known for its prop bets. Since prop bets are a great choice for bet-hedging, particularly if you are building up parlays, this could be a great place for those that want to be a bit more creative.
PointsBet Hedge odds
Last but certainly not least, we have PointsBet. This site is known for its bonuses and parlays. While it does not have the greatest selection of betting markets globally, we have always found their odds to be great. This is certainly a site that you will want to add to your arsenal when you are looking for the best odds to hedge.
What is Hedge Betting in Maryland?
We like to think of hedge betting as a ‘safety bet.’ With hedge betting in Maryland, the idea is that you will play both sides of the market. After all, one of them is going to win, right?
If you do proper sports hedge betting, and this means planning your stake well, then for most hedge bets, you are virtually guaranteed to walk away with a profit. However, in some cases, particularly with live bets, it is about cutting your losses.
Remember, hedge betting is a betting strategy. It is not a type of bet. However, almost all types of bets can work with hedge betting.
Hedging Sports Bets in Maryland
We know that the word ‘hedging’ can seem rather complicated. However, the process of placing a hedged bet is rather simple. So let us walk you through it step by step.
The first step is to choose a bet that excites you. The odds can be as long as you like. Let’s say, using decimal odds, and the odds are 3.26. We know that this isn’t crazy long, but it does give a decent return. If you bet $100 on it, you would get $426 (including your stake) back.
Now you need to find the opposite bet to this. This may have odds of 1.52. This means a $100 bet would give you back $252, including your stake.
Your aim when hedging bets is to try and get the return for the bet with shorter odds to cover any potential bet from the lost odds. In this case, $100 would do it, and you would have a $52 profit. If the long bet comes through, then you are $226 up!
The idea is that you will play about with the stake until you come up with stakes that generate you money, no matter what happens.
How to Hedge Bet on Parlays in MD
Parlays can be tricky to hedge on. This is because it is one of those hedges that you can never guarantee to win. This means that you may end up with two losing bets. As a result, many people steer clear of parlay hedge betting. You can make it work, though. Just remember, it is going to be a greater risk than average.
To hedge a parlay, put together as many lines as you want. It doesn’t matter what they are. What matters, however, is that one of the lines is for a bet that is an almost dead cert.
Once you have placed your parlay bet, you create a separate single bet that is the same as the dead cert bet. Since you know that this is almost guaranteed to come in, you have given yourself a safety bet.
How to Hedge a Live Betting
Live betting is a little bit different from other types of bet-hedging. This is because you are not going to be placing your hedge bet until much later on. Although, do bear in mind that hedge betting with live bets will never net you a profit. This betting method is more about keeping those losses minimal.
To bet on live sports, you will want to place one bet before the event begins. You do not place the second bet until the game is in action. The only time you will want to place that second bet is if the first bet is likely to lose. Since this is live betting, the odds will be incredibly short once an outcome is known. So, you won’t make a profit unless you are betting a ton of cash.
When Hedge Betting should be avoided
We know that we have dressed up hedge betting to be the greatest thing globally for those who want to reduce the risk of their bets. However, in the interests of honesty, we do want to tell you that there are some situations where hedge betting really doesn’t fly.
For starters, you probably don’t want to be hedge-betting when you are betting smaller amounts. If you are betting under $100, then we are positive that betting is more about the thrill than a genuine way to make money for you. Hedge betting takes away some of that excitement, and it really cuts into the limited cash you would have made. Preserve the excitement of sports betting and avoid hedge betting for bets under $50-$100.
We also wouldn’t recommend sports hedge betting if the odds for the two bets are close to one another. Ideally, one of the odds needs to be quite long and the other short. The closer the odds are together, the harder it can be to make it work. So, we would never bet hedge when two teams are evenly matched.
FAQ’s About Hedge Betting Maryland
Can you use betting bonuses for Hedge Betting?
Yes. Although, it isn’t really something that is recommended that you do. Due to all the terms and conditions that are often applied to betting bonuses, they never really make good options for hedging your bets.
Is Hedging Bets on live sports profitable?
It is unlikely that you will make a profit if you have to hedge your bet on live sports. For live sports, it is all about cutting your losses rather than walking away from a winner.
Do all sportsbooks in Maryland allow Hedge Betting?
Yes. Hedge betting isn’t a specific bet. It is a betting strategy. Sportsbooks can’t really prevent you from using betting strategies. That being said, it is important that you think about where you are hedge betting in Maryland. You should always try to track down the sites that offer the greatest odds.
Can you make a loss with Hedge Betting?
Yes. While the main aim of hedge betting is to perhaps make some profit, there are some bets where this will never work. However, most proper hedge bets should be able to cut your losses, at least.
Can you Hedge against Parlay Bets?
You can. However, this is one of those betting hedges where you are never going to be guaranteed a return. In fact, you may extend your losses. You should avoid hedging parlay bets if one of your bets is a dead cert for coming through.