[Idiom] HEDGE YOUR BETS. - Mastering Risk Management in Decision Making
Hedge your bets.
minimize risk
The phrase 'Hedge your bets' is a popular idiom often used in scenarios involving risk and decision making. Originally deriving from the hedge betting in gambling, where a player places multiple bets to reduce potential losses, it now transcends beyond gambling contexts. Applying this idiom in everyday life means strategically positioning yourself in a situation so that you have a backup plan or an alternative route should things not go as planned. By diversifying your options, you ensure that a single unfavorable outcome won't spell disaster. This idiom teaches a valuable lesson in caution and preparedness, making it relevant in financial decisions, career planning, and personal commitments.
Example Sentences
You should hedge your bets with a diverse investment portfolio.
You should minimize risk by having a variety of investments.
He decided to hedge his bets by applying to several jobs.
He applied to many jobs to reduce the risk of unemployment.
They hedged their bets by planning for various scenarios.
They planned for different outcomes to be prepared for anything.