Despite being a proven method to minimize losses, or even increase winnings, hedging bets is not a widely-used strategy by those bettors playing college football odds on the best NCAAF betting sites, or any other sport, for that matter.
One reason it is not in the betting arsenal for many players is the simple fact they do not understand how – and most importantly when – to apply the strategy of hedging a previous wager. Like everything else in sports betting, knowledge and discipline are essential.
What Is A Hedge Bet?
The simplest definition of a hedge in sports betting is a wager that reduces a bettor’s risk or exposure to a loss. A bettor simply places a second wager on the opposite side of their original bet to offset the original wager if it turns out to be a loss.
Naturally, the idea is always to walk away with a profit, so simply betting one side +7 and the other side -7 will not accomplish that goal due to the vig, or juice, at top sportsbooks.
But in cases when a bettor may have mistakenly played the favorite -7, hedging with a play on the underdog +7 will at least cut their losses.
There are also times that making a second wager sets up the opportunity for a middle. If a bettor rides with Notre Dame -7 on the opening NCAAF odds, and action drives the Fighting Irish up to -9½, it’s possible that a second wager on their opponent +9½ is warranted since it offers a chance for what is known as a middle.
While they do occur, middles are rare and beginning bettors need to exercise caution lest they make the dreaded math error and wind up with a pair of wagers that both lose.
Hedging With An In-Game Bet
In-game betting is becoming more popular now than it used to be, and that has added opportunities for players to hedge and create middles at halftime of a college football contest.
Once again, you grabbed Notre Dame -7 prior to the kickoff, and the Fighting Irish play well enough to grab a 17-6 lead as the teams go into the locker room. Your sportsbook is now offering the Fighting Irish’s opponent at +10½.
A hedge bet in this case sets up a very favorable middle, while also diminishing the risk of Notre Dame stumbling in the second half and failing to cover.
This is also a good time to point out why having more than one sportsbook is always a good idea. Movement during the week at sportsbooks is not always equal, and the possibility of getting an extra half-point or even full point can provide bettors with a hedge option.
Parlays Are Perfect For Hedging
With the start of the 2024 college football season less than a month away, the excitement is starting to build for bettors and fans alike. Many of the Week 1 games are lopsided matchups that may be of no interest to you, but you’ve found value in a trio of road teams that take the field on the last day of August.
You’ve been monitoring the lines since they first went out, keeping your eyes and ears open for news regarding depth charts and position battles, and feel confident in your decisions to take Penn State -10 at West Virginia, Miami -2 at Florida, and Notre Dame as a pick at Texas A&M.
And then it hits you: Why not combine them all into a 3-team parlay that will pay off with a +600 return?
Parlays always present more risk than betting the games individually, but you’re confident in your picks and very happy when the Nittany Lions cover in the early game and the Hurricanes cover in the mid-afternoon game.
The Fighting Irish and Aggies kick it off in the evening, and it’s a perfect opportunity to hedge your parlay by placing a wager on Texas A&M. If Notre Dame follows through and wins, your +600 payday more than covers the hedge bet on the Aggies, and if the Aggies win, you get your original cost of the parlay back.
There Is A Bright Future In Hedging
The three most popular ways to bet college football futures are season win totals, conference championships, and College Football Playoff championships. All three present opportunities for the shrewd bettor to hedge.
Notre Dame is currently showing up with a 10½-win total, with some books offering an even return on the ‘over.’ Given their schedule, the Fighting Irish could easily be 10-1 going into their final game of the season at USC.
If you bet Notre Dame ‘over’ the 10½ wins, then a moneyline play on the Trojans in that matchup should be among your considerations.
The extra level to the College Football Playoffs will make it a little trickier to hedge your championship bet on Notre Dame +2500 to win the National Championship, but if the Irish make it to the title tilt, a play on their opponent will make sense.
