Wagering Tools - Hedge Tool
The Hedge Tool is very similar to the Dutching Tool in the Wagering Tools package. The only difference is that it lets you hedge your bets rather than dutch them.
Hedging is a form of dutching your bet where you place a saver (hedge) bet on one or more horses and then use the rest of your money to go after profits on other horses. If the horse you placed the hedge bet on wins, then you'll break even for the race, but if your other horses come in, you'll make a profit. It's a great way to play a race where you might like a longshot, but feel there's a favorite who might beat your longshot. Hedging the bet would allow you to turn a nice profit if your longshot comes in or break even if the favorite ends of winning the race.
Like the dutching tool, the hedge tool allows you to play up to 12 horses in a single race To use it, simply enter the amount you'd like to wager on race in the total wager field. Then place the odds of the horses you'd like to play in the various odds boxes. These odds may be in one of the following forms (3/2, 3-2, 1.5). The tool will then calculate how much you'll need to play on your horses in order to earn the desired profit. It'll also let you know how good a bet is by giving you a profit margin and a confidence number.
Then click the hedge button next to the horses you'd like to place saver/hedge bets on. You can adjust the Hedge Return % field if you'd like the hedged horses to return something other than 100% of your total wager.
The profit margin simply lets you know how much of your winnings will go back into repaying your wagers and how much will be profit. The closer to 100% this number is, the better your wager.
The confidence percentage lets you know what percentage of similar bets you'll need to make in order to break even. If this number is 80%, you should be 80% sure that one of your horses is going to win. To put it another way, if the confidence percentage says, 80% you'll need to have one of your horses come in at least 80% of the time to turn a profit in the long run.
The tool will also let you know how much a specific bet is going to cost and an approximation of how much you can expect to win. Remember, it's usually a bad idea to chase a small amount of money with a large wager.
You can also choose to have the tool round off your wagers to the nearest dollar so that it displays playable amounts to wager on each horse. It's important to note as well that all wagers below $1 are rounded up to $1.00 no matter how small they
Lastly, the confidence and profit margin numbers are still valid even if you've only entered in one horse. It's a good way to just check any wager where you know the odds and want to simply get statistics about your wager.