hedge your bets

"Hedge your bets" is an idiomatic phrase that means to reduce or mitigate the risk involved in a situation by making alternate or contradictory actions or investments. In essence, it refers to taking precautions or having alternative options to cushion potential losses or failures. It commonly involves spreading investments or resources across different possibilities or outcomes, ensuring that if one option fails, another can compensate. The phrase originates from gambling and refers to placing bets on multiple outcomes to increase the chances of winning some money. However, it has acquired a broader meaning and is now used in various contexts outside of gambling as well.