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Bet Hedging and Live Casinos

By: Staff Writer

Bet hedging simply means placing several wagers on different outcomes of the same event. As we mentioned, this most often refers to a sporting event. However, a spin of the roulette wheen is an event, and people wager on the outcome all the time. In other words, there’s no reason why you can’t apply the same reasoning to live table casino games.

However, this should also point out that some games are not suitable for bet hedging. Essentially, you need to be able to make several wagers per round on different outcomes. That writes off blackjack right at the gate. The game of 21 has only one wager – and side bets don’t count because they’re not directly dependant on the main game. The same goes for live baccarat games. Hedging in baccarat would be limited to, say, combining a Tie and a Banker/Player bet. That’s not particularly useful.

On the other hand, live roulette is the perfect example of a casino game in which you can hedge your bets. It checks all the requirements, and there are also benefits of bet-hedging in roulette, which we’ll get to in a moment. Other good examples include live sic bo and various innovative specialty titles, such as money wheel games. Some lottery-like experiences such as Betgames Lucky 5 also make great candidates for bet hedging in a casino.

Why Hedge Your Bets?

The main goal and advantage of bet hedging is risk reduction. Essentially, the idea is to spread your bankroll over multiple possible outcomes and increase your chance of success. Of course, this comes with the downside of also reducing your profit margin. Often, some hedged bets are there simply to cover the costs of placing riskier wagers.

Consider this – more often than not, low-risk, low-reward betting options are the ‘smart’ choice. For instance, most beginners are told to stick to even money bets like red/black when playing roulette. There’s a good reason for this. The betting value and RTP of roulette are consistent across all of its bets. While no roulette bet is statistically better than the others, some are simply riskier while maintaining the same risk-to-reward ratio. Even money bets are the most likely type of bet to win at any given round of roulette. If you stick to those, you’ll likely at least win enough to cover any expenses. For beginners, not losing is often more important than winning.

After a while, though, not losing is simply not enough. You want to find some way to break this cycle. You want to find a way to win, and you probably want to win big. Such returns are generally achieved through very low-probability wagers, such as you’d get with multipliers in a game like Lightning Roulette. However, repeatedly betting on a 1-in-36 outcome is an easy way to burn through your bankroll with nothing to show for it.

This is where bet hedging in roulette comes in. In addition to the Straight-up bets you’re placing to win big, you simply place a ‘safety’ bet like Red. Assuming you’re betting the same amount, this will be just enough to cover your stake every other round. Success is still not guaranteed, of course, but you’ll get a lot more mileage from your bankroll.

Examples of How To Hedge Bets in Casinos

We didn’t just randomly pick Lightning Roulette as a bet hedging example. In truth, it’s a perfect example of the kind of game you want to try this live casino strategy with. The reason has a lot to do with why people play such games in the first place.

If you’re playing this game or a similar title like Quantum Roulette, we’re assuming you’re doing it for the multipliers. If you’re not banking on the big wins, you may as well just play at a regular live roulette table. With casino bet hedging, you can have all the excitement of chasing after the ‘big score’ without burning through too much money.

As mentioned previously, the bet hedging strategy doesn’t necessarily increase your chances of winning. However, careful bankroll management is always a good idea. Besides, we always stress that entertainment should be the primary motive to play live dealer casino games. While ‘fun’ is a subjective term, most people find risky wagers infinitely more exciting than repeatedly making ‘safe’ choices.

Consider a game like Crazy Time by Evolution. Sure, the wheel has safer options, but you’re most likely hoping to play one of the special features. These are definitely riskier but are also the core of what makes Crazy Time so fun. However, by spreading your stake to include low-risk bets, you can aim for the Bonuses while also maintaining a steady stream of cash.

Bet hedging in Sic Bo is probably the most common strategy used for that particular game. Players often even place several wagers with varying degrees of risk. For instance, a specific Triple bet for the big payout, a Big/Small wager for safety, and an ‘intermediate’ Totals bet. The idea is to also aim for some profitability even if you don’t win the risky one.

Conclusion

It’s important to understand that players can rarely affect the outcome of a live casino game. They’re games of luck, and that’s something every player needs to accept. However, details such as managing the average return per round can make all the difference in the world. Bet hedging casino games is one of the ways to do that, which makes it a useful tool in every gambler’s arsenal.

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