hedge one's bets

/HH EH1 JH W AH0 N EH0 S B EH0 T S/
verb
  1. 1

    (bookmaking) To place bets with a third party in order to offset potential losses.

  2. 2

    To reduce the risk of making a mistake, by keeping one's options open.

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Source: https://en.wiktionary.org/wiki/hedge%20one's%20bets

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