Round robin bets are a popular type of sports betting that allows bettors to create a smaller set of parlays from a larger list of teams or players. Essentially, rather than relying on all legs of a crazy parlay to hit, a round robin bet allows you to cover all possible combinations of a smaller set of parlays. This type of bet is also known as a conservative parlay, as it reduces the risk of losing your entire bet on one incorrect pick.

For example, let's say you have a four-team NFL parlay that you want to bet $5 on as a round robin. Your four teams are the New York Giants, New England Patriots, Dallas Cowboys, and Green Bay Packers. With a round robin bet, you can create a smaller set of parlays, such as two-team or three-team parlays, that cover all possible combinations of those four teams. This reduces your risk and increases your chances of winning at least some of your bets.

Round robin bets can be a strategic way to increase your chances of winning while reducing your risk. However, it's important to note that the more teams you include in your round robin bet, the higher your total bet amount will be. It's also important to understand the rules and payouts of round robin bets before placing your wager to ensure you fully understand the potential outcomes.

Where Can I Place a Round Robin Bet?

You can place a round robin bet at most sportsbooks or online sports betting sites. Many sportsbooks offer round robin bets as an option for customers who want to bet on multiple selections at once.

What is a Round Robin Bet?

Definition

Round robins are a type of parlay that allows you to create multiple smaller parlays from a larger list of bets. It gets its name from a round-robin tournament, in which every team plays every other team in its group. Instead of teams playing against each other, the bets are combined to form parlays together.

Round robin parlays are a great option for bettors who have identified a short list of bets and want to bet them together in every possible combination to create more lucrative odds. The more bets you include in a round robin, the more parlays you can create.

How Does it Work?

When you place a round robin bet, you are essentially creating a series of smaller parlays within one larger bet. For example, if you want to bet on three different games, you could create a round robin bet with those three games. The round robin would then create parlays of all possible combinations between the three games.

Let's say you bet on three games: Game 1, Game 2, and Game 3. A round robin bet would create the following parlays:

Parlay 1: Game 1 + Game 2

Parlay 2: Game 1 + Game 3

Parlay 3: Game 2 + Game 3

Parlay 4: Game 1 + Game 2 + Game 3

You can then choose which parlays you want to bet on, and place your preferred combinations in your bet slip quickly and easily.

It's important to note that with a round robin bet, you don't have to win all the parlays to win the bet. If you win some of the parlays, you can still make a profit.

Overall, round robin parlay bets can be a great way to increase your chances of winning and potentially earn a higher payout. However, it's important to remember that like any bet, there is always a risk involved.

Round Robin Bet Examples

Example 1: Four Team Round Robin

Let's say you want to bet on three NFL games, all moneyline bets on NFL Sunday Football: Patriots -7.5 vs. Jets, Ravens -6 vs. Steelers, and Raiders +4 vs. Broncos. You decide to make three separate two-team parlays, risking $10 on each combination. This creates a round robin bet with three parlays for a total investment of $30.

If all three parlays win, you would win all three bets and receive a payout for each parlay. If only two parlays win, you would still win some money, but less than if all three had won. If only one parlay wins, you would break even, and if none of the parlays win, you would lose your entire $30 investment.

Example 2

Let's say you want to bet on four NBA games: Lakers -5 vs. Clippers, Nets -3 vs. Celtics, Warriors +2 vs. Rockets, and Spurs +4 vs. Suns. You decide to create two separate three-team parlays (two separate parlays), risking $20 on each combination. This parlay combination creates a round robin bet with two parlays for a total investment of $40.

If both parlays win, you would win both bets and receive a payout for each parlay. If only one parlay wins, you would still win some money, but less than if both parlays had won. If none of the parlays win, you would lose your entire $40 investment.

Example 3

Let's say you want to bet on five MLB games: Yankees -2 vs. Red Sox, Dodgers -3 vs. Giants, Astros +1 vs. Braves, Cubs +2 vs. Cardinals, and Phillies -4 vs. Marlins. You decide to create three separate two-team parlays, risking $15 on each combination. This creates a round robin bet with three parlays for a total investment of $45.

Advantages of Round Robin Betting

Spread your risk

Round robin bets are a great option for bettors who want to increase their chances of winning. With round robin bets, you can place multiple bets on different teams, and if one of your selections loses, you can still win some money. This is because round robin bets create smaller parlay combinations, which means that you have a better chance of winning compared to a traditional parlay.

For example, let's say you want to bet on four different teams in a football game. If you parlayed all of them together in one bet, you would need all four teams to win in order to win the bet. However, with a round robin bet, you can place multiple bets on different combinations of those four teams. This means that even if one of your selections loses, you can still win some money.

Flexibility

Round robin bets also offer more flexibility than parlays. With a round robin bet, you can choose how many teams you want to bet on, and how many combinations you want to make. This means that you can customize your bet to fit your specific needs and preferences.

For example, let's say you want to bet on six different teams in a basketball game. With a round robin bet, you can choose to make multiple bets on different combinations of those six teams. This gives you more flexibility and control over your bet, and allows you to tailor your bet to your specific strategy and goals.

Overall, round robin bets offer bettors a great opportunity to increase their chances of winning and customize their bets to fit their specific needs and preferences. By taking advantage of the flexibility and increased chances of winning that round robin bets offer, bettors can maximize their potential winnings and minimize their risk.

Disadvantages of Round Robin Bets

Higher Cost

One of the main disadvantages of a round robin wager is that they can be more expensive than traditional parlays. This is because you are essentially placing multiple bets at once, which means you need to risk more money upfront. While this can increase your potential payout, it also means that you are putting more money on the line.

For example, let's say you want to place a round robin bet on three different games. If you were to place a traditional parlay on these same games, you would only need to risk one bet amount. However, with a round robin bet, you would need to place multiple bets, which can quickly add up.

Lower Payouts

Another disadvantage of round robin betting is that they often have lower payouts than traditional parlays. While this can depend on the specific odds and bets you choose, in general, the more bets you add to a round robin, the lower your potential payout will be.

This is because with a round robin bet, you are essentially placing multiple smaller parlays at once. While this can increase your chances of winning, it also means that your potential payout will be spread out across multiple bets. This can result in a lower overall payout, even if all of your bets are successful.

It's important to keep in mind that while round robin betting can be a fun and potentially lucrative way to bet on sports, they do come with their own set of disadvantages. By understanding these disadvantages, you can make an informed decision about whether or not round robin bets are right for you.

Round Robin FAQs

Is a Round Robin Betting the Same as Parlay Betting?

No, a round robin bet is not exactly the same as a parlay.

In a parlay, you choose multiple teams or events to bet on, and all of those selections must win in order for you to win the bet. The more selections you make, the higher the potential payout, but the harder it is to win.

In a round robin bet, you also choose multiple teams or events to bet on, but you make multiple smaller bets that cover all possible combinations of those selections. So, even if one or two of your selections lose, you can still win some of the smaller bets within the round robin.

So, while both types of bets involve making multiple selections, they differ in how the bets are structured and the level of risk involved.

Is Round Robin Better Than a Parlay?

There is no clear answer to whether a round robin bet is better than a parlay, as it depends on your personal preferences and the specific circumstances of the bet.

Round robin bets are often considered to be lower risk than parlay bets, as they offer more opportunities to win smaller bets even if one or more of your selections lose. However, because you are making multiple smaller bets within a round robin, the potential payout may be lower than that of a regular parlay.

Parlays, on the other hand, offer the potential for higher payouts, as all of your selections must win in order for you to win the bet. However, they are also higher risk, as a single loss can result in the entire bet being lost.

Ultimately, whether you choose a round robin or a large parlay will depend on your personal preferences and the level of risk you are willing to take on.

How Many Games Do I Have to Win in a Round Robin Parlay?

The number of games you need to win in a round robin bet depends on the specific type of round robin bet you are making.

In a standard round robin bet, you choose a set of teams or events to bet on and then make multiple smaller bets that cover all possible combinations of those selections. For example, if you choose three teams to bet on, you would make three 2-team parlays (covering all possible pairs of teams), and one three-team parlay (covering all three teams together). In order to win the entire round robin bet, all of your selections must win.

However, because you are making multiple smaller bets within the round robin, it is possible to win some of the smaller bets even if one or more of your selections lose. So, while you may not win the entire round robin bet, you may still win some of the smaller bets within it.

Overall, the number of games you need to win in a round robin bet depends on the specific selections you make and the number of smaller bets within the round robin parlays.

How Do Same Game Parlays Work in a Round Robin?

Same game parlays can be included in a round robin bet just like any other type of parlay.

A same game parlay is a type of bet where you make multiple selections within a single game, such as the winner of the game, the total points scored, and the first player to score a touchdown. All of these selections are combined into a single parlay bet with higher odds and a higher potential payout.

To include a same game parlay in a round robin bet, you would select the game and the specific selections you want to make within the parlay. You would then choose the round robin option and select the specific bets you want to make within the round robin, such as two-team parlays or three-team parlays that include the same game parlay.

For example, let's say you want to make a round robin bet that includes a same game parlay for an NFL game. You choose three teams to bet on within the round robin, and one of those teams is the winner of the NFL game. You also want to include a same game parlay within the round robin that includes the winner of the game, the total points scored, and the first player to score a touchdown. You would choose the round robin option and select the specific bets you want to make, such as a two-team parlay that includes the same game parlay and another selection, and a three-team parlay that includes all three selections.

If all of your selections win, you will receive the total payout from all of the smaller bets within the round robin, including the same game parlay. If one or more of your selections lose, you may still win some of the smaller bets within the round robin, but not the entire bet.

How Do Round Robin Payouts Work?

Round robin payouts can be a bit complex, as they depend on the specific bets you make within the round robin and the odds of each selection.

In a round robin bet, you make multiple smaller bets that cover all possible combinations of your selections. Each of these smaller bets has its own odds and potential payout. If all of your selections win, you win all of the smaller bets within the round robin and receive the total payout from each bet.

However, because you are making multiple smaller bets within the round robin, it is possible to win some of the smaller bets even if one or more of your selections lose. In this case, you would receive the payout from the smaller bets that were successful, but not the payout from the entire round robin bet.

The payout for each individual bet within the round robin depends on the odds of each selection and the size of the bet. For example, if you bet on three teams to win and each team has odds of +150, the payout for each two-team parlay would be 2.5x your original bet (2.5:1 odds). If you bet $10 on each two-team parlay, you would win $25 for each successful parlay.

Overall, the total payout for a round robin bet depends on the number of smaller bets within the round robin, the odds of each selection, and the size of your original bet. It can be helpful to use a round robin calculator to determine the potential payouts for your specific bet.

Round Robin: Individual Bets on Every Possible Parlay Combination

Parlay betting can be fun and exciting. In summary, a round robin bet is when you pick a few different teams to win in different games. Then, you bet on all the different combinations of those teams winning.

So, if you pick three teams to win, you might bet on all three teams winning together, then on each pair of teams winning together, and then on each individual team winning by itself. It's like making a lot of smaller bets all at once!

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