In this example, if you bet €100 on Federer without hedging, you will win an average of €20 in profit (ROI of +20% because €20 in profit for a bet of €100). If you bet €100 on Federer by hedging €25 on Nadal and Nadal is valued, you will earn an average of €26.25 in profit (ROI of 21% because €26.25 gain for a total bet of €125)* ** If you bet €100 on Federer by hedging €25 on Nadal and the latter is not valued, you will earn on average €13.75 in profit (ROI of 11% because €13.75 gain for a total bet of 125 €) *** Conclusion To conclude, I would say that hedging simply to secure your bets without worrying whether this hedging is a value bet or not is a money-losing practice. I personally really like hedging certain bets on one condition. It is necessary that the bet which one plays to cover the first is value and has a positive expectation of gain. In this case only, hedging 사설토토 is extremely interesting since it both makes us earn more money in the long term and on top of that it limits the variance (the part of luck in sports betting). If you benefit from a first bet reimbursed in cash if it is a loser as some bookmakers offer ( PMU, betclic ) then in my opinion it is not necessarily useful to hedge, especially if you are not sure that the hedge you want to play is value. In the event that you lose this bet, you will be 사설토토 reimbursed by the bookmaker anyway. Formula *To find the probability that an odd represents, simply divide 1 by the odds. => Here: 1/2 = 0.5 = 50% => The odds of 2 offered by the bookmaker means that he gives Federer a 50% chance of winning the tournament. ** To find the expected winnings, we use the formula: Expected = probability of winning * (odds – 1) – probability of losing. => The expected gain (or theoretical ROI) for Federer without coverage is therefore calculated as follows: E= 60 * (2-1) – 40 = 20% => The theoretical ROI for Nadal with a 25% chance of winning: E = 25 * (5-1) – 75 = 25% => Expected gain (or theoretical ROI) for Nadal with a 15% chance of winning: E = 15 * (5-1) – 85 = -25 % *** To calculate the theoretical gains with a hedge, we use the formula here: Gains = Bet on Federer * expected gain + Bet on Nadal * expected gain => In the case where the expected gain on Nadal is +25%: Theoretical gains = 100 * 20% + 25 * 25% = €26.25 => If the expected gain on Nadal is -25%: Theoretical gains = 100 * 20% + 25 * (- 25%) = 13.75€