What does “Hedge your bets” mean?

"Hedge your bets" means to take precautions or make alternative plans in order to reduce the risk of failure or loss.

What context can I use the in?

Example

I decided to hedge my bets by applying to multiple universities.

Example

He's hedging his bets by investing in both stocks and bonds.

Example

She's hedging her bets by saving money while also looking for a new job

Is “Hedge your bets” an expression, an idiom, or a proverb?

“Hedge your bets” is a proverb. A proverb is a short saying that teaches us something important or gives us advice. Unlike an idiom, it’s easy to understand even if it uses figurative language.

How would I use “Hedge your bets” effectively in context?

You can use "Hedge your Bets" to advise someone to take precautions or make alternative plans in order to reduce the risk of failure or loss. For example, if a friend is unsure about which job offer to accept, you might say, 'Why not hedge your bets and accept both offers? That way, you have options if one doesn't work out.'

1College Applications
To increase her chances of getting accepted, she decided to hedge her bets and apply to multiple universities.
2Investments
He's uncertain about the market, so he's hedging his bets by investing in both stocks and bonds.
3Job Search
She's not sure about her current job stability, so she's hedging her bets by saving money while also looking for a new job.

Similar phrases to “Hedge your bets”:

Cover all bases

To take all necessary precautions or actions to ensure success or avoid failure

Example

He covered all bases by researching extensively before making a decision.

Play it safe

To choose the safest or most cautious option to avoid risks or failures

Example

She decided to play it safe and stay at her current job instead of taking a new opportunity.

Have a backup plan

To have an alternative plan in case the original plan fails

Example

They always have a backup plan in case things don't go as expected.

Sit on the fence

To remain undecided or neutral in a situation

Example

He's sitting on the fence and hasn't made up his mind yet.

Good things to know:

Where does the phrase “Hedge your bets” come from?

The origin of the phrase "Hedge your Bets" is believed to come from the world of gambling. In the 17th century, people would place bets on horse races and hedge their bets by placing additional bets on other horses to reduce the risk of losing. The idea was to minimize potential losses by spreading out the bets.

Is “Hedge your bets” common in everyday conversation?

Yes, "Hedge your Bets" is a commonly used idiom in everyday conversation. People often use it to suggest being cautious and prepared for different outcomes.

What tone does “Hedge your bets” have?

"Hedge your Bets" conveys a tone of practicality and risk management. It's often used in a strategic context to encourage someone to consider multiple options and minimize potential losses.

Can “Hedge your bets” be used in informal and formal settings?

Yes, "Hedge your Bets" can be used in both informal and formal settings. It's a versatile expression that conveys the idea of taking precautions and considering alternatives. You can use it in everyday conversations with friends, family, and colleagues, as well as in more formal situations such as business meetings or professional writing.

Can it be used by itself, or is it usually part of a sentence?

It's commonly used as part of a sentence to convey its full meaning. For example, 'He decided to hedge his bets and invest in multiple companies.' However, in informal conversations, people might understand the phrase even if used alone, like saying 'Time to "hedge your bets"!' to imply the need for caution and preparedness.

Synonyms & Antonyms

Synonyms

minimize risk
take precautions
consider alternatives
plan for contingencies
be prepared

Antonyms

take a risk
go all in
put all eggs in one basket
ignore alternatives
be reckless