Sports betting enthusiasts are continually seeking out new strategies to amplify their excitement and, hopefully, their winnings. Round Robin parlay stands out as a betting technique because it offers the best of both worlds, versatility, and potential profitability. It offers a unique approach to sports betting, where you can wager on multiple selections simultaneously, providing a dynamic alternative to traditional single bets or straightforward parlays.
Understanding the mechanics of round-robin parlay betting can be daunting at first glance, but beneath its complexity, lies a system that offers flexibility and opportunity.
In this comprehensive guide, we will unravel the mysteries of round-robin parlay betting, exploring its fundamental principles, advantages, and potential pitfalls. By the end, you will have gained valuable insight into how this innovative betting method operates and how you can leverage it to enhance your sports betting experience.
What is a Round Robin Bet?
A commonplace feature among sports books, Round Robin bets are popular and a favorite of many seasoned sports bettors. It is a betting strategy that allows bettors to combine multiple selections into a series of smaller parlays. Essentially you break down the legs of a specific parlay into smaller parlays, consisting of two teams or larger, thereby maximizing your chances of winning while spreading out risks.
And unlike a traditional parlay, all teams in your selections do not have to win for the selection to pay out. So if you have a selection of three teams and two out of those three teams win, you will still get some payout.
And unlike popular assumptions, Round Robin bets do not offer higher payouts than typical parlays. They just offer more insurance, because the more teams you have in your bet, the more Round Robin options you can choose from and you can still make a profit even if some of your selections do not win.
Basically, it is a game of numbers; the number of selections you have and their respective odds and, of course, the kind of round-robin you are playing. Let’s take a deeper delve into Round-Robin bets and what they mean for you.
How Do Round-Robin Bets Work?
A round robin is a series of smaller parlays made from a longer list of bets. The name comes from a round-robin tournament; however, instead of each team playing each other, they form parlays together.
Here is a close look at how round-robins work:
- Selection of Bets and Creation of Parlay Groups
Bettors begin by selecting a group of individual bets across different games or events. These can include spreads, moneyline, or any other type of bet offered by the sportsbook you are using.
Once the bets are selected, they are grouped into smaller parlays, typically consisting of 2 or 3 selections each. So let’s say you have selected four individual bets, you can create 6 unique 2-selection parlays or 4 unique 3-selection parlays.
- Combination of Parlays
The round-robin system then generates every possible combination of parlays from the selected groups. This means that you are essentially placing multiple parlays simultaneously, covering various combinations of your chosen selections. By implication, the more games you pick, the more parlay combinations you can make.
- Stake and Payout Calculation
Here you specify the amount you want to stake on each parlay. The stake is then evenly distributed across all parlays within the round-robin, ensuring consistent risk management. Payouts are calculated based on the odds of each parlay within the round-robin, with winnings accumulation from each successful parlay.
- Outcome Determination
As the games or events unfold, the outcomes of the individual bets determine the success or failure of each parlay within the Round-Robin. Depending on the number of winning parlays, bettors may receive varying payouts.
What is an each-way round-robin?
An each-way bet consists of two wagers of equal costs; one on the selection to win and one on the selection to place (usually finish in the top few positions). A win is a correct prediction of the outcome of a game, while a selection to place or a place bet predicts a finish with the number of places given by the sportsbook. Each-way bets are commonly used in horse racing and other sports betting markets
An each-way round-robin is a type of round-robin bet that combines multiple each-way bets into a series of smaller parlays.
Table of Contents
The “Number Of Ways” Option
This is the most popular form of round-robin bets that you can make. In this option, the bets you make are spread out into events of different sizes. Using the Number of Ways option can be confusing especially if you are new to round-robin bets.
If you have chosen 3 lines, then each of your parlay can only be 2 lines. However, if you were to add an extra line (4 lines) your parlays could have 2 or 3 events in size and you would be able to create 6 total combinations.
“Number of Ways” Option in Action
Let’s say you have chosen 3 lines to play moneyline bets for the NFL: Boston Celtics, Washington Capitals, and Chicago Clubs.
You will only be able to construct two-event parlays and your combinations will look like this:
- Boston Celtics, Washington Capital
- Boston Celtics, Chicago Clubs
- Wahington Capital. Chicago Clubs
If you add one more line or team, you will be able to get 6 two-event parlays and 4 three-event parlays.
How to bet on Round-Robins
If you want to make a round-robin bet, launch your favorite bookmaker and click on the round-robin bet option. Select the games that you want to wager on. Some sportsbooks might ask you to pick the games before you choose the round-robin option. The bookmaker does the rest of the job.
Below is a step-by-step guide:
- Visit your sportsbook of choice
- Choose the number of parlays your selections will consist of
- Pick the games or teams you would like your round-robin bet to consist of.
- Click the round-robin option and choose the number of parlays you would like to use in your bet slip.
- The software will generate parlays with the games in your selections.
- Pick a base wagering amount.
- The sportsbook will show you a total wager to make. Go ahead and make your bet.
Of course, this process will differ based on the sportsbook you are using, but it should give you an idea of what to expect.
How Do You Win Round-Robin Bets?
To get maximum profit from a round-robin bet, each leg of the round-robin bet must hit. In this sense, it is quite similar to your parlay bets.
It has a higher profit potential but it comes with a drawback. If you bet $10 on a round-robin parlay, it implies each leg of the round-robin is getting a $10 wager. So if you have a 3-team round-robin bet, you will be paying $30.
However, unlike parlays, you can still make a profit even if all your games do not hit. This depends on the odds for each parlay and how they add up to give your potential payout.
What is the difference between a round-robin bet and a parlay bet?
Round-robin bets and parlay bets are both popular forms of betting, but they differ in terms of structure, risk management, and potential payouts. Here’s a breakdown of the key differences between the two:
Structure
In a parlay bet, bettors combine multiple individual selections into a single wager. All selections must win for the parlay to be successful and for you to get a payout, Parlay bets typically offer higher potential payouts compared to individual bets since the odds of each selection are multiplied together.
On the other hand, a round-robin bet involves creating multiple smaller parlays from a set of chosen selections. So unlike a parlay, where your selections are combined into one bet, a round-robin bet breaks down the selection into smaller groups, creating several parlays. This means that even if one selection fails, other parlays may still win, mitigating some of the risks associated with traditional parlays.
Risk Management
Parlay bets are high-risk, high-reward. Since all selections must win for the parlay to pay out, there is a greater risk of losing the entire bet if just one selection fails.
However, round-robin bets offer a sort of risk management, since you are spreading out your selections into multiple smaller parlays. This does not entirely eliminate the risk, but it offers you a better chance at winning, as successful parlays can still yield payouts even if others fail.
Payout Potential
Parlay bets typically offer higher potential payouts than round-robin bets since each selection’s odds are multiplied. However, this high payout comes with corresponding high risks.
Round-robin bets offer a balance between risk and reward. While the potential payouts might not be as high as traditional parlays, the increased likelihood of winning some of the smaller parlays can still result in attractive returns.
Round Robin vs. Parlay Betting
Below is a table that shows the difference between round-robin and Parlay betting:
| Round-Robin Bets | Standard Parlay Bets | |
| Structure | Selections are broken down and paired into different parlays. | Selections are bundled up into a single parlay. |
| Risk Management | Lowers the risk of making a loss. | Has a greater risk of losing your wager |
| Payouts | Has lower potential payouts. | Has higher potential payouts |
The main difference between a round-robin bet and a parlay bet lies in their structure and risk management approach. Parlay bets combine all selections into one high-risk, high-reward wager, while round-robin bets break down the selections into smaller groups, offering a more diversified approach with multiple opportunities to win.
What Do Round Robin Bet Payouts Look Like?
Round Robin payouts vary significantly depending on several factors including the number of selections, the size of the stake, and the specific outcomes of the individual bets. Since round-robin bets involve creating multiple smaller parlays from a set of chosen selections, the payouts are determined by the success or failure of each parlay.
Here’s a general overview of how round-robin payouts may look and how the factors mentioned above affect them:
Number of selections (Bet Size)
The more selections included in the round-robin bet, the greater the number of smaller parlays created. This increases the potential for both winning and losing parlays, thus impacting the overall payout.
Odds of Each Selection
The odds of each selection contribute to the potential payout of the round-robin bet. Higher odds typically result in larger potential payouts, while lower odds offer smaller potential payouts.
Stake Size
Your stake size is the amount of money you wager on each parlay within the round-robin. Your total stake is divided evenly among all the parlays to ensure consistent risk management.
The outcome of Bets
The outcome of each bet determines whether the corresponding parlay within the round-robin is successful or unsuccessful. If all selections within a parlay win, the parlay is considered successful, and the bettor receives a payout based on the combined odds of the selections. Conversely, if any selection within a parlay loses, the parlay is unsuccessful, and the bettor does not receive a payout for that specific parlay.
Cumulative Payouts
The cumulative payout of a round-robin bet is the sum of the payouts from all successful parlays within the round-robin. Since round-robin bets create multiple smaller parlays, you might receive payouts from some parlays even if the others are unsuccessful, thus mitigating some of the risks associated with traditional parlays.
Example of a Round-Robin Payout
If you were to stake $3 on a round-robin wager made up of 3 2-team parlays, with each parlay having a potential payout of $5, you would be staking $1 per parlay, with a total potential winning of $15.
Of course, the amount you stake and your total potential payout will increase with each team you add to your round-robin. So, four teams will mean you are staking $6 for a chance to win $30 from 6 parlays. In the end, your actual payout is calculated from the sum of the payouts for the number of different parlays in your robin-round bet.
How many teams can be included in a round-robin bet?
The number of teams that can be included in a round-robin bet depends on the sportsbook and its specific rules and limitations. However, in general, round-robin bets include as few as three teams and potentially more, depending on the betting options offered by the sportsbook.
Minimum and Maximum Number of Teams
Most online sportsbooks require a minimum of three teams to create a round-robin bet. Some sportsbooks may impose a maximum limit on the number of teams that can be included in a single round-robin bet, while others may allow bettors to include a larger number of teams.
The implication is that you must select at least three outcomes or selections to form the foundation of your round-robin wager; however, the upper limit is a bit more flexible.
How Many Teams Should You Include in Your Round-Robin Bet?
While many sportsbooks will not include a strict maximum limit on the number of teams that can be included in a round-robin bet, there are practical considerations to keep in mind.
The number of smaller parlays will increase with each team you add. A maximum of 4 teams in a 2-team round-robin bet will create 11 parlays while 11 teams will create as many as 2000 parlay combinations.
The implication is that as the number of teams increases, the smaller parlays generated by the round-robin increase exponentially, which will result in a larger number of total bets and potentially higher stakes to cover all combinations. This may not be feasible for all bettors.
Pros and Cons of Round Robin Sports Betting
Pros
- It offers less risk than conventional parlays.
- You are not as likely to lose money as with traditional parlay bets.
- You can get a payout even if one of your selections does not win.
- It is a great way to meet the bonus requirements of many sportsbooks.
Cons
- The concept is confusing (But that is why you have this guide)
- Calculating your potential payout is hard, too.
- It does not offer payoffs as high as you’d get with traditional parlays.
Types of Round-Robin Bets
Two-Team Round Robin
A two-team round-robin, also known as a 2-leg round-robin, is a type of round-robin bet that involves creating multiple smaller parlays from a set of two chosen selections. Team, in this context, refers to each individual selection within the round-robin bet.
To play a two-team round-robin, you begin by selecting two different outcomes, such as teams, players, or events. This is the basis of your round-robin bet. The system will generate all possible combinations of parlays from these selections, usually one unique parlay.
3-Leg Round Robin Bet
A 3-leg round-robin bet, also known as a 3-team round-robin, is a type of round-robin bet that involves creating multiple smaller three-team parlays from a set of 3 selections or teams. Your three teams will generate a total of four unique parlays.
The amount you wish to wager will be distributed equally across all four parlays to ensure consistent risk management.
Four-Team Round Robin
Just as the name implies, a four-team round-robin bet is a type of round-robin bet that involves creating parlays from four teams or selections. When you create a four-team round-robin, the system will generate 11 unique parlays for you:
- Six 2-leg parlays
- Four 3-leg parlays
- One 4-leg parlay
The amount you wager on the bet will be evenly distributed along these 11 unique parlays.
5-Leg And Higher Round Robin Bets
It is not common to see these kinds of round-robin bets, but they do exist. Most sportsbooks have a maximum amount of legs you can include in your round-robin bets. Still, you should know that as the number of selections increases, so does the complexity and number of parlays generated. For instance, a five-leg parlay round-robin will give 26 unique parlays, while 6-leg and 7-leg round-robin bets generate 57 and 120 unique parlays respectively.
Each selection you add to a round-robin bet increases both the potential winnings and the level of risks involved.
What Are The Most Popular Sports For Round Robin Bets?
Because of how it is designed, round-robin bets can be successfully utilized in a variety of sports. However, the most popular are soccer, American football (NFL), basketball, horse racing, and tennis. Here is a closer look at the most popular sports for round-robin bets:
Football (Soccer)
Soccer is probably one of the most popular sports globally and attracts a significant amount of betting interest. This makes it an ideal choice for round-robin bets. In football, bettors can select outcomes such as match winners, goal totals, or specific player performances to include in their round-robin bets.
Successful round-robin betting in football involves thorough research into the different teams. You should also consider diversifying your selections across different leagues, competitions, and betting markets to spread out risks and maximize potential returns.
American Football
Another popular sport for round-robin bets among bettors is American football. It is the most popular sport in the United States and is referred to as “football”. The National Football League (NFL) and college football offer numerous betting opportunities for round-robin bets. Bettors can select outcomes such as point spreads, totals, player props, and game props to include in their round-robin wagers.
Just like football, and probably any other game on this list, successful round-robin betting in American football requires an in-depth analysis of the games. And just like in soccer, diversifying across different games, conferences, and betting markets can help mitigate risk and optimize potential returns.
Basketball
Basketball, especially the NBA and College Basketball, offers a fast-paced and high-scoring environment that appeals to bettors. A team sport, basketball is played on a rectangular court, with a hoop at both ends of the court. Generally, basketball games have the same structure consisting of two halves, the first and second. A basketball game is usually made up of a team of 5 playing on each side.
The fast-paced and high-scoring environment of basketball makes it suitable for round-robin bets Bettors can select outcomes such as point spreads, totals, player props, and team props to include in their basketball round-robin wagers.
A great way to win your basketball round-robin bets is by diversifying your selections. Base your selections on thorough research and don’t forget to add a few underdogs.
Tennis
Unlike the other games on this list, tennis is an individual sport. It is a racket sport and is played on a court divided by a net. The goal of each player is to ensure the opponent does not land a valid hit. Points accumulate with each valid return the players land.
Tennis offers numerous betting opportunities for round-robin bets, particularly in major tournaments such as the Grand Slams and ATP/WTA Tour events. Bettors can wager on different outcomes including match winners, set totals, game totals, and player props.
Successful round-robin betting in tennis requires an analysis of player form, playing surface preferences, head-to-head records, and tournament conditions. You should also consider factors that affect recent performance such as injury updates and recent performances.
Don’t bet on just favorites and look out for less competitive betting markets or matches as this can help increase the chances of winning.
Horse Racing
Horse racing is another popular sport that lovers of round-robin can wager on. It is a performance sport typically played by jockeys riding horses over a set distance. Horse racing offers a unique and exciting betting experience, with a wide range of betting options available for round-robin bets.
Round-robin in horse racing is typically made with three selections which adds up to 10 bets in total. The ten bets include 3 doubles, 1 treble, and 2 x 3 single-stakes-about bets. Bettors can select outcomes such as win, place, show, exacta, trifecta, and more to include in their round-robin wagers.
To make the best out of your round-robin wagers on horses, we recommend you gather the right knowledge and any information that will aid in making the right selections. Consider factors such as horse form, track conditions and biases, jockey and trainer statistics, race distance, and past performances.
Round-robin betting terminology
Understanding round-robin bets can be daunting, especially for new bettors. However, it gets easier if you understand the terms and words used.
Here is a list of round-robin betting terminology you need to know before making your round-robin bets:
- Parlay Size: Parlay size refers to the number of individual selections or bets included in a parlay wager. It determines the number of outcomes that must be correct for the parlay to win.
- Full cover: Full cover bets are betting strategies that involve multiple selections and cover all possible combinations of those selections in smaller parlays. Full-cover bets tend to offer higher chances of winning than traditional parlays since they cover multiple outcomes, but they require larger stakes. An example of a full-cover bet is a round-robin bet.
- Trixie Bet: A Trixie bet is a full-cover bet that consists of three selections and four bets: three doubles and one treble. This means that each of the three selections is combined in two separate double bets with the other two selections and in one treble bet with all three selections.
- Yankee Bet: A Yankee bet is another type of full cover bet that consists of four selections and 11 bets: six doubles, four trebles, and one fourfold accumulator. This means that each of the four selections is combined in various combinations to create multiple smaller parlays.
Strategies for Placing Successful Round-Robin Bets
A major advantage round-robin bets have over traditional parlays is that it is easier to get a payout. With standard parlays, if a single selection comes up short, you lose the entire parlay regardless of how many were actually spot on.
Many players will opt for the all-or-nothing approach of regular parlays because they offer massive payouts, but many times, the risk is not commensurate with the reward.
Round-robin takes away some of the risks, making it so you can get a payout, even if you do not hit every single pick. However, they do require a larger investment and are risky endeavors on their own; to hit a profit, you must win most of your picks. So here are a few round-robin betting strategies to consider when trying to place successful round-robin bets.
Strategy 1: Play the Underdogs
A great way to get a nice payout from round-robin bets is to play the long shots or underdogs. These are teams or participants that have minimal chances of winning.
Look for sports that are not competitive, pick a few undergods from these sports, and spread them across your round-robin bet. If a few of these teams pull an upset, you will probably get a nice payout.
Depending on the odds, all you might need is for a couple of these legs to hit, and your round-robin bet would be successful.
Strategy 2: A Favorite Should be Your Last Leg
In your selections, the last and latest game should be a favorite. This is the team or participant that has the highest chance of winning. If a few of your earlier games are successful, you can hedge the selections you have left so you make a profit regardless of the outcome.
Hedging your bet implies placing a bet on the opposite side of the last selection of your parlay.
Strategy 3: Go for Two Team Parlays
They are the simplest forms of round-robin bets and are also the easiest to win. It might be tempting to add more, but the more teams you add, the harder it becomes to make a profit.
Strategy 3: Manage your Stakes
Determine an appropriate wager size for each parlay within the round-robin based on your overall bankroll and risk tolerance. Avoid overextending your bankroll by wagering too much on a single round-robin bet. Instead, allocate a portion of your bankroll that allows for multiple bets and potential losses.
Strategy 4: Use Promotions and Bonuses
Take advantage of promotions, bonus bets, and offers provided by sportsbooks to enhance your round-robin betting experience. Look for opportunities such as bonus payouts for winning multiple parlays or refund offers for certain outcomes.
Calculating Payouts on Round-Robin Bets
Calculating the payouts for round-robin bets can get complex, especially when dealing with multiple selections and parlays. It involves determining the outcomes of each individual parlay within the round-robin and aggregating the payouts from all successful parlays. Here’s a guide to calculating payouts for your round-robin bets.
Step 1: Determine the Outcome of Each Parlay
Begin by determining the outcome of each individual parlay within the round-robin. A parlay is considered successful if all selections within it win, and unsuccessful if any selection loses.
Step 2: Calculate the Payout for Each Successful Parlay
For each successful parlay, calculate the payout based on the combined odds of the selections included in the parlay. This involves multiplying the odds of each individual selection together and then multiplying the result by the stake amount.
Step 3: Aggregate the Payouts
Add up the payouts from all successful parlays within the round-robin to determine the total payout for the bet.
Step 4: Consider Stake Refunds
Some sportsbooks may offer stake refunds for round-robin bets that include a certain number of selections or parlays. If applicable, subtract any refunded stakes from the total payout to determine the net payout.
Step 5: Factor in the Bonuses and Promotions
If the round-robin bet qualifies for any bonuses or promotions offered by the sportsbook, such as a bonus for winning multiple parlays, factor these into the calculation of the total payout.
Your final payout for a round-robin bet is the total amount that the bettor will receive if all successful parlays are settled. In essence, it is all winnings from successful parlays minus any refunded stakes plus any bonuses or promotions.
Get Started Betting Round Robins in Arizona
Round-robin bets offer a great way to hedge against the risks of a regular parlay. They might need more money upfront, but the excitement they offer and the potential to win big cannot be overlooked.
However, the truth remains that round-robin bets are complex bets, and the financial implications might not be friendly for beginners in the sports betting scene. Also, round-robin bets come with inherent risks because you are not just betting parlays. But with this guide and a little bit of experience, you should be able to play your favorite selections in a round-robin bet sooner than later.
Frequently Asked Questions About Round-Robin Parlay Betting
How does round-robin parlay betting differ from traditional parlays?
Round-robin parlay betting involves creating multiple smaller parlays from a set of chosen selections, offering increased coverage and flexibility compared to traditional parlays. While traditional parlays require all selections to win for the bet to pay out, round-robin parlays allow for combinations of selections to win, providing more opportunities for success.
Can I include different types of bets in a round-robin parlay?
Yes, round-robin parlays can include various types of bets, such as moneyline, point spread, and totals bets, depending on the available betting markets. Bettors have the flexibility to combine different types of bets within the round-robin structure, providing a diverse range of betting options.
How do I calculate potential payouts for round-robin parlays?
Calculating potential payouts for round-robin parlays involves determining the outcomes of each individual parlay within the round-robin and aggregating the payouts from all successful parlays. Bettors should multiply the odds of each individual selection together and then multiply the result by the stake amount to calculate the payout for each successful parlay. The total payout is the sum of all successful parlays’ payouts, minus any refunded stakes or bonuses.
Are round-robin parlays suitable for beginners?
Round-robin parlays can be suitable for beginners, as they offer a structured approach to combining multiple selections into smaller, manageable bets. However, beginners should familiarize themselves with the basics of sports betting and understand the mechanics of parlays before attempting round-robin parlays. Starting with smaller round-robin bets and gradually increasing complexity as confidence grows can be a prudent approach for beginners.
Can I hedge my bets within a round-robin parlay?
Yes, bettors can hedge their bets within a round-robin parlay by placing additional bets to minimize potential losses or lock in profits. Hedging strategies involve placing bets on opposing outcomes to reduce overall risk or guarantee a return, depending on the circumstances. Bettors should carefully consider the potential impact of hedging on their overall betting strategy and potential payouts before implementing hedging strategies within round-robin parlays.