hedging one's bets
Spreading the risk
Hedging one's bets is protecting yourself against loss by spreading risk across multiple options rather than committing fully to one.
The phrase comes from betting—placing wagers on different outcomes so you won't lose everything if your main bet fails.
In everyday use, it means keeping alternatives open: She applied to ten schools, hedging her bets in case her top choice rejected her.
- cautionCareful attention to risk
- diversificationExpanding into varied areas
- prudenceCareful, wise judgment
- insuranceContractual risk coverage
- contingency planningPreparing for possible problems
backup plan · adaptability · wait and see · compromise · self-preservation · futures contracts · arbitrage · foresight · moderation · risk aversion · incrementalism · asset allocation · doubtfulness · flexibility · vigilance · plan B · keeping options open · straddle
hedging one's betsbetting the farm
Risking everything on one outcome
going for broke · doubling down · swinging for the fences · throwing caution to the wind · rolling the dice
hedging one's betsburning one's bridges
Eliminating any possibility of retreat
going all out · crossing the Rubicon · taking the plunge · putting one's money where one's mouth is · going out on a limb
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