hedge one's bets

hedge (one's) bets

To take an action in order to offset a potential future loss. I'm not too confident that I'll get the lead in the play, so I'm hedging my bets by trying out for several roles.
See also: bet, hedge
Farlex Dictionary of Idioms.

hedge one's bets

Fig. to reduce one's loss on a bet or on an investment by counterbalancing the loss in some way. Bob bet Ann that the plane would be late. He usually hedges his bets. This time he called the airline and asked about the plane before he made the bet. John bought some stock and then bet Mary that the stock would go down in value in one year. He has hedged his bets perfectly. If the stock goes up, he sells it, pays off Mary, and still makes a profit. If it goes down, he reduces his loss by winning the bet he made with Mary.
See also: bet, hedge
McGraw-Hill Dictionary of American Idioms and Phrasal Verbs.

hedge one's bets

Lessen one's chance of loss by counterbalancing it with other bets, investments, or the like. For example, I'm hedging my bets by putting some of my money in bonds in case there's another drop in the stock market . This term transfers hedge, in the sense of "a barrier," to a means of protection against loss. [Second half of 1600s]
See also: bet, hedge
The American Heritage® Dictionary of Idioms by Christine Ammer.
See also:
  • address comments or remarks to
  • address (one's) comments to (someone or something)
  • address (one's) remarks to (someone or something)
  • be in it for
  • be at a disadvantage
  • at a disadvantage
  • at a loss
  • be more than (something)
  • be more than glad, ready, etc.
  • away from it all
References in periodicals archive
Of course, avoiding too much sun exposure--and wearing high-SPF sunscreen--when using those decks and playsets is another important way to hedge one's bets against cancer.
Dear EarthTalk: I know that some of us are genetically predisposed to get cancer, but what are some ways we can avoid known environmental triggers for it?
Still, it's wise to hedge one's bets when it comes to the power of the sun.
Sunny storm; Earth dodges bundle of solar trouble
What if it were possible to hedge one's bets? That is exactly what the Social Security Administration allows.
When to hit 'reset' on social security: individuals who start receiving social security benefits early can actually re-apply at new attained age
Punters who concur can get 6-1 at Betdirect against Albion registering a 1-0 win, although given that Sporting Odds chalk 9-1 against Wolves winning 1-0, the temptation to hedge one's bets is clear.
Horse Racing: Support strong for 1-0 Villa win; Odds & Evens