You hedge a bet in sports gambling is when you have a lot at stake but could end up winning nothing if your bet doesn’t come through. Hedging means you place a wager against your initial bet to ensure you come away a winner. For example, let’s say you bet on Tiger Woods to win and would stand to win $10,000 if he does. He enters the final round with a three-shot lead but you also know Jordan Spieth, who is in second place, could win. So, what you should do is put some money down on Spieth just to ensure you still win money if he wins the tournament.