Back in the 1980’s when I started betting it was nearly impossible to hedge a live bet. hedging is the ‘selling’ of all or part of your original bet, usually done at a time when the price of the bet is lower than the price that you staked your bet at.

A lot of online Bookmakers allow the facility to sell out your bet, for certain markets, not all. The introduction of exchange sites like Betfair and Betdaq allow ‘hedgers’ to sell their bets on to other registered punters.