Arbitrage & Hedge Calculator
Split a total stake across two opposite prices so your return is the same whichever side wins.
How to use this calculator
What it does: given two prices on opposite outcomes of the same market and a total amount to stake, it splits that amount so the payout is identical no matter which side wins.
The inputs:
- Side A / Side B odds — the two American prices you are comparing. They must be opposite sides of the same market (e.g. Over and Under the same total).
- Total stake — the combined amount across both sides.
Worked example: Side A +120, Side B −105, total $100.00. The calculator returns the two stakes and the identical return for each outcome, and tells you whether the two prices form a true arbitrage (combined implied probability under 100%) or lock in a small loss (over 100%).
Reading the result: combined implied probability below 100% is an arbitrage (guaranteed profit); exactly 100% breaks even; above 100% any split still equalizes your outcomes but guarantees a loss equal to the book's margin.
This tool performs illustrative math only and is not a recommendation to place any wager. The two odds must be opposite sides of the same market. Live odds move quickly, so an edge shown here can disappear before it can be acted on, and sportsbooks may restrict accounts that place arbitrage wagers. ParlayX is an analytics and education tool and does not place bets.