hedge your bets - idiom meaning?

Question

What is the meaning of "to hedge your bets" idiom?

Answer 1

 

Idiom Conjugations:

 

Answer 2

Gerund Form of the Idiom:

Hedging your bets could be considered wise in some situations.
 

Answer 3

Idiom Usage:

To hedge your bets can be used formally or informally.
 
Usual form: To hedge your bets.
Alternate form: To hedge your bet.
 
In the Negative

"Don't hedge your bets."

If you divert resources to hedging, then those resources are not available to ensure the success of the original endeavor.
You may find that you have two mediocre outcomes instead of an individual success or failure.

Answer 4

Idiom Scenario 2:

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Two businessmen are talking ...

Man 1: Have you got that presentation ready for the boss?
Man 2: I do. In fact, I have two presentations prepared, just in case he doesn't like the first one.
Man 1: That's an excellent idea! Very smart of you to hedge your bets.

 

Answer 5

Idiom Scenario 1:

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Two students are talking about an upcoming final exam ...

Student 1: Are you ready for the exam?
Student 2: I studied quite a lot but I'm not feeling very confident.
Student 1: You could hedge your bets and do the extra paper for bonus marks.
Student 2: It's a difficult situation because if I have to decide if spending my limited time studying even more for the exam will be more beneficial than spending that limited time writing the bonus paper.

 

Answer 6

Idiom Definition:

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"to hedge your bets"

to do something in a situation, so that if the situation fails or has a bad outcome, you will not fail or suffer as much as if you had not hedged your bets  

Synonyms: acute, alert, astute, cagey, calculating, careful, commonsense, consider, far-sighted, forethought, fore-thoughtful, judicious, leery, perceptive, perspicacious, prudent, pussyfoot, safe, sage, sapient, shrewd, skillful, sober, sound, thorough, vigilant, wary, watchful, well-advised, wise, worldly-wise