For many decades, researchers have studied how plants use bet-hedging strategies to insure against unpredictable, unfavorable conditions. We consider how the survival rates of dormant seeds (in a 'seed bank') interact with functional trade-offs to influence optimal germination strategies. Specifically, we explore the functional trade-offs between resource-use capacity and low-resource tolerance, i.e., being able to generate high yield following high rainfall versus maintain performance during a drought. We develop a model that explicitly includes these trade-offs to model fitness as a function of precipitation, and identifies evolutionarily stable strategies (ESS), using data from 10 Sonoran Desert annual plant species. We use our estimated ESS values to predict observed germination fractions. We then explore the relative importance of seed survival and functional trade-offs in driving optimal germination strategies by regressing ESS values and observed germination fractions against these traits.We find survival rates and functional trade-offs to be significant drivers for bet-hedging with survival rates having the strongest influence. Our results offer insight into drivers of bethedging strategies in an iconic system, as well as provide the analytical framework to explore how current or future environmental conditions will impact life history evolution.