Hedge betting to minimise losses is a method by which you place smaller bets on additional choices to minimise the loss from a larger bet. It can give you an edge over the house, but not much of an edge.

An example of hedging your bet would be to put $1 on five numbers in the 25 -36 range giving a combined wager of $5. To hedge that bet put $5 in 1st third and $5 on 2nd third giving a total bet of $15. If any one of your single number bets come up you get $36, if the result is between 1 – 24 you get $15 thereby covering your original wager.

A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment.

https://en.wikipedia.org/wiki/Hedge_(finance)

You can lose it all quickly

In the example above you have 29 of 37 possible outcomes covered, assuming you are playing European Roulette with a single zero. That means there are eight possible numbers where you lose your entire $15.

That is the danger of hedging bets, depending on what number choices you have made. Generally when I play when hedging, and lose, it costs me $60 – $100.

When you lose and only getting small profits as you go it can take a few wins to get back. I’ve had up to eight losses in a row which has cost me hundreds.

Bottom line

Keep in mind that hedge betting reduces your risk, but it also reduces your potential profits. The casino always has a slight edge in roulette, primarily due to the presence of the green 0 pocket (and 00 in American roulette), so hedge betting does not change the odds in your favor. It’s essential to gamble responsibly and set limits to avoid substantial losses.