Parlay Hedge Calculator

Only the final unresolved leg

Use this model when every earlier leg has won and the remaining leg has exactly two complementary outcomes. Multiple open legs need a different model.

If the last leg can also end in a draw, it has three outcomes. Cover it with the multi-way hedge calculator instead.

Return is not profit

Enter $600 if that is the entire amount paid when the parlay wins. Do not subtract the $50 original stake before entering it.

The calculator rejects a total return that is not larger than the stake, because a winning cash parlay always returns more than it cost.

Should you hedge a parlay?

Hedging the last leg turns an all-or-nothing ticket into a fixed result, which is why it is most common when the parlay would pay many times its stake. The cost is the part of the parlay payout you give up if the last leg wins.

You can also hedge less than the full amount. The calculator shows the equal-profit hedge; any smaller stake leaves more on the parlay and less protection. The partial hedge formula and example explains how to compare those outcomes.

Check settlement rules

A push, void or different overtime rule can change the parlay payout. These cases are not represented by the two-outcome example.

Worked example

1. A $50 parlay will return $600 if the last leg wins.
2. The opposite of that leg is +100 (decimal 2.00). $600 ÷ 2.00 = $300 hedge stake.
3. Total cash staked is $350. Parlay wins: $600 − $350 = $250. Final leg loses: $300 × 2.00 − $350 = $250.