Follow the money on both sides
Start with $100 at +200, which would return $300 including the original stake. An opposite-side price of −150 is decimal 1.66667. Dividing $300 by 1.66667 gives a $180 hedge. If the original wins, $200 profit minus the $180 hedge loss leaves $20. If the hedge wins, $120 profit minus the $100 original loss also leaves $20.
Equalizing outcomes may lock in a loss
An equalized result is not necessarily profitable. With an original $100 at −110 and an opposite side at −110, the hedge is $100 and either result loses about $9.09. The calculator exposes that tradeoff; it does not determine whether reducing uncertainty is worth the cost for a particular person.
Match the coverage and the rules
The two bets must cover mutually exclusive and exhaustive outcomes with compatible settlement rules. Opposing sides at different spread lines can leave a gap or create a middle. A draw, overtime rule, void, push or abandoned event can prevent the planned equalization. An in-play price can also move before the hedge is accepted.
Check funds, rounding and execution
The hedge requires additional money beyond the original stake. The result rounds the hedge to cents and calculates both net outcomes using that rounded amount, so they can differ slightly. Bet limits, minimum stakes, taxes, fees and account restrictions are outside the calculation. Confirm the accepted price and both net outcomes before interpreting the scenario.
Examples are hypothetical and rounded. These calculators explain arithmetic; they do not establish a model’s accuracy or guarantee an outcome.