# Hedge calculator

> Independent. Not affiliated with, endorsed by or sponsored by Novig.

Canonical: https://novigapi.com/hedge-calculator
Method checked: 2026-11-12
Interactive tool: https://novigapi.com/hedge-calculator (prefill with ?a=&b=)

To lock the same profit either way, hedge with stake = original stake x original decimal odds / hedge decimal odds. A $100 bet at +200 hedged at -150 needs $180.00 and locks $20.00. On Novig the hedge price is 1 minus the best bid on your side, with no vig (Novig docs, checked 12 Nov 2026).

## Worked example

Worked example: $100 at +200, hedge at -150

| Plan | Hedge stake | If original wins | If hedge wins |
| --- | --- | --- | --- |
| Equal profit | $180.00 | $20.00 | $20.00 |
| Break even | $150.00 | $50.00 | $0.00 |
| No hedge | $0.00 | $200.00 | -$100.00 |

## The two hedges worth knowing

```
equal profit: hedge = S x D1 / D2
break even:   hedge = S / (D2 - 1)
```
S is the original stake, D1 its decimal odds, D2 the hedge's decimal odds.

The equal-profit hedge makes the result the same whichever side wins. The break-even hedge is the smallest bet that gets your original stake back if the first bet loses, and leaves the rest of the upside in place. Anything between the two is a partial hedge.

## Where to hedge

A hedge costs the margin of the book you hedge at, so the best place is the cheapest price on the other side. On an exchange like Novig there is no vig: the price to buy the other side is 1 minus the best bid on yours, and only live takers pay a small fee. Check the price against the no-vig mid before you hedge.

## How to use it

1. Enter your original stake and price.
2. Enter the price available on the other side now.
3. Read the equal-profit hedge stake and the break-even hedge, with the result of each outcome.

## Questions

### How do you calculate a hedge bet?

Multiply your original stake by its decimal odds and divide by the hedge's decimal odds. That stake returns the same amount whichever side wins.

### Is hedging a good idea?

Hedging gives up expected value for certainty. It makes sense when the locked profit matters more to you than the edge, or when the hedge price is better than fair.

### Can I hedge on Novig?

Yes: buy the other side of the same contract. Its price is 1 minus the best bid on your side, so the cost is the spread plus a fee only if the event is live.

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