Work out the hedge stake that locks in the same profit either way.
Hedging places a second bet on the opposite side so the combined position pays the same no matter what happens. The equal-profit stake is (original decimal odds x original stake) divided by the hedge decimal odds.
A hedge gives up some expected value in exchange for certainty. Whether that trade is worth it depends on the prices and on how much variance you want to carry.
Strip the juice from any two-way line and see the fair price.
Check what a bet is worth given your odds and your win probability.
Combine up to eight legs and see the true payout and implied odds.
See how much margin the book has baked into a market.
Size a bet from your edge and bankroll with the Kelly formula.
See what a bonus or free play is really worth after the rollover.