Betting calculator
Hedge Bet Calculator
Use this calculator to work out a hedge stake when backing and laying, including exchange commission and lay liability.
Choose your hedge type
Select whether you backed first or laid first, then enter the odds and commission.
A lay stake of £151.52 would balance the result at £48.48 profit whether the selection wins or loses.
What is hedging a bet?
Hedging a bet means placing another bet to reduce risk, lock in a result, or balance the profit and loss across different outcomes.
In exchange betting, hedging often involves a combination of backing and laying. You might back a selection first and then lay it later, or lay a selection first and then back it later.
What does backing mean?
A back bet is the traditional type of bet. You are betting that something will happen. If the selection wins, you make a profit based on the odds. If the selection loses, you lose your stake.
What does laying mean?
A lay bet is the opposite side of a back bet. When you lay a selection, you are betting that it will not win. If the selection loses, you win the other person’s stake, minus any exchange commission. If the selection wins, you pay out the liability.
What is lay liability?
Lay liability is the amount you risk when placing a lay bet. It is calculated from the lay stake and the lay odds.
Lay liability = lay stake × (lay odds − 1)
Back first, then lay
This is common when you back a selection at higher odds and later lay it at lower odds. This can be used to balance profit across both outcomes, sometimes called greening up.
Lay stake = back stake × back odds ÷ (lay odds − commission)
If selection wins = back profit − lay liability
If selection loses = lay stake after commission − back stake
Lay first, then back
Sometimes a trader may lay a selection first, hoping the odds drift, then back it later at higher odds. The hedge bet is then a back bet rather than a lay bet.
Back stake = lay stake × (lay odds − commission) ÷ back odds
If selection wins = back profit − lay liability
If selection loses = lay stake after commission − back stake
Example: back first, then lay
Suppose you back a selection with £100 at odds of 3.00. Later, you can lay the same selection at odds of 2.00 with 2% exchange commission.
| Input | Value |
|---|---|
| Back stake | £100.00 |
| Back odds | 3.00 |
| Lay odds | 2.00 |
| Commission | 2% |
| Lay stake | £151.52 |
In this example, the calculator balances the position so the profit is approximately the same whether the selection wins or loses.
Can hedging guarantee profit?
Hedging can sometimes lock in profit when odds have moved favourably, but it does not guarantee profit in every situation. If the prices are not favourable enough, hedging may simply reduce a loss or reduce the maximum possible profit.
Hedge bet calculator FAQs
What does this hedge calculator do?
It calculates the hedge stake needed to balance the result across two outcomes when using back and lay bets.
Does the calculator include exchange commission?
Yes. You can enter the exchange commission percentage. The calculator applies commission to the winning exchange side.
What is greening up?
Greening up is a common exchange betting phrase for spreading profit across all outcomes, so that the position shows a similar positive result whichever outcome occurs.
Why is my result showing a loss?
If the odds have not moved favourably enough, the hedge may balance the position at a loss. That can still reduce risk, but it does not create profit.
Is this a Betfair calculator?
This is a general back and lay hedge calculator. It can be used for exchange-style calculations, but a more specific Betfair calculator could later include more detailed settings and examples.