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Hedging Your Craps Bets

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How do hedge bets in craps work? Hedge bets can be placed in most kinds of gambling. Sports betting, casino games, and racebooks all have opportunities for players to place hedge bets. In a nutshell, hedge bets are bets that offset each other by being placed on opposite outcomes. For instance, at a football game you could bet $10 on Team A and $5 on Team B. If Team A wins the game, you win $10 and lose $5 ($5 net-win). If Team B ends up winning the game, you lose $10 but you win $5 (net-loss $5). Hedge bets were dreamed up as a way of softening losses. These bets are sort of like an insurance policy. When used in games like craps, however, you can be sure that they aren't going to protect you at all from the house edge. The most widely used hedge bet in craps combines the don't pass line and a place bet on the point.

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If you decide to hedge your craps bets, you should realize that you are still making a losing bet. Each of the two wagers has a house edge of some sort. There is still an overall house advantage, and in the long run, you will still lose. Let's look at example of a player who is using the Hedge System. This is a $10 don't pass line bet, and a $6 place bet on six and eight (made after the come out roll. On the one hand, you can look at this as a pretty good situation. There is a good chance that you win both wagers for a $22 net win or you win $12 and only lose the $10 for a $2 profit. Worst case you will lose $12 but your $10 don't pass line can hedge your losses to only $2.

The only situation nobody seems to think of, is the possibility of losing both wagers for a $22 loss. Sure it won't happen every time, but it will happen. When you run the numbers, you will find that you are still at a disadvantage. The house-edge on the line bet still applies as does the house-edge on the place bet. Some players decide that using a hedge betting strategy is the best way to con the casino into giving them a higher rating, and therefore more comps. The idea being that you can have twice as much money on the table at a time without having twice the risk. When the pit bosses are rating players they look primarily at the size of your first wager. Using a hedge bet seems like a great way of inflating your betting sizes. In reality though, you really are risking more money than you would normally be comfortable, and you would ea rn every comp they gave you.

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