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What does it mean to cover a bet?

October 19, 2021

Whether you’re betting on sports, investing in stocks, or any other financial investment, you’ll be looking for a spot to protect your money.

As a simple explanation, hedging your money can be thought of as investment “insurance” to protect you from potential loss. In finance, it is used as a strategy or device that limits any potential loss of financial assets and ensures the long-term growth of a company.

Sports betting is the same way, where the bookmaker, or you, can put hedges on bets that protect both sides of an outcome.

When the book establishes a hedge, they do so through a withdrawal function. This allows you to cash out sooner, while the bookmaker avoids the risk of paying you what they would have when all the bets on your betslip have finished.

This article will delve into sports betting coverage and how it can be done. Before you begin, you should know that there is a difference between a hedge bet and an arbitrage bet. Hedging bets are legal, while arbitrage bets are illegal and will ban you.

how to cover a tennis bet

Hedging in sports betting is commonly done on tennis bets. One of the most famous tennis bets you will see is where the underdog folds in the first set but still plays the second and third sets.

To cover this bet, make two separate bets: one on each of the two outcomes. A common way to do this is to hedge with an alternative bet on this match. So let’s say you are betting on the losing player of +3.5 sets in a tennis match. After they fold in the first set, you need to make two bets: one that the player wins the second or third set, and one that they win the second set but lose the third. You can also hedge with an alternative bet or a match on this same tennis event to cut your losses if the first bet fails. By hedging the possibility of a loss, you get a lower return than if you just let the bet flow and hope for the best.

how to cover a basketball bet

Hedging a basketball bet can be a bit more difficult to achieve, as there are more outcomes in the spread. One of the best ways to hedge a basketball bet is to place two separate bets on the spread and the other on the over/under.

For NBA fans, let’s say you’ve been watching this game on TV and you think the San Antonio Spurs are going to win, but they’re only 1.50 favored. Taking a deeper look at this game, you realize that Tony Parker is out of the game with an injury. After doing more research on this team, you find out that his backup center is injured and he won’t be playing either.

What you want to do is cover this bet by adding a handicap. In this case, we’ll give the point spread right away and then add -5 for the Spurs. This gives us a new San Antonio line -6.5 (1.50 + 3.00 = 4.50)

Now you’ll want to bet this new line on Spurs. If they lose, you will win both bets: one on Spurs +1.50 and the other on San Antonio -6.5 (-110).

how to cover a baseball bet

Hedging a baseball bet can also be difficult, as there are many different outcomes to the game itself.

Let’s say you’re betting the Yankees at 1.50 on a game where A-Rod is looking to have a big day. Before the first pitch, A-Rod goes on the disabled list with a hamstring injury and will not play for at least two weeks. He cannot pass up this bet, so he will want to cover this bet.

One of the best ways to hedge a baseball bet is to place a separate bet on both sides of the line you are betting on. In this case, we want to take our original bet and add a bet to that same bet: A-Rod doesn’t play and another one where he does.

So let’s take a look at our original line. We want to bet on the Yankees 1.50 where A-Rod gets a hit and is in the starting lineup. After doing some research, we see that his hamstring injury is not serious, and he will be batting third in this game against a right-handed pitcher.

Since we know that he will not get a hit in this game, we can add a bet that he will not get a hit to the same bet. In this case, we’d bet A-Rod would go 0-4 with four strikeouts.

As mentioned above, the Yankees are 1.50 favorites to win this game, and now you can bet on both sides of this line. Now he’ll have a bet on the Yankees -1.50 to win, and one where A-Rod is 0-4 with four strikeouts at +650.

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