'To hedge a bet' definitions:

Definition of 'To hedge a bet'

From: GCIDE

Hedge \Hedge\, v. t. [imp. & p. p. Hedged; p. pr. & vb. n. Hedging.]
1. To inclose or separate with a hedge; to fence with a thickly set line or thicket of shrubs or small trees; as, to hedge a field or garden. [1913 Webster]
2. To obstruct, as a road, with a barrier; to hinder from progress or success; -- sometimes with up and out. [1913 Webster]
I will hedge up thy way with thorns. --Hos. ii. 6. [1913 Webster]
Lollius Urbius . . . drew another wall . . . to hedge out incursions from the north. --Milton. [1913 Webster]
3. To surround for defense; to guard; to protect; to hem (in). "England, hedged in with the main." --Shak. [1913 Webster]
4. To surround so as to prevent escape. [1913 Webster]
That is a law to hedge in the cuckoo. --Locke. [1913 Webster]
5. To protect oneself against excessive loss in an activity by taking a countervailing action; as, to hedge an investment denominated in a foreign currency by buying or selling futures in that currency; to hedge a donation to one political party by also donating to the opposed political party. [PJC]
To hedge a bet, to bet upon both sides; that is, after having bet on one side, to bet also on the other, thus guarding against loss. See hedge[5]. [1913 Webster]