June 16, 2021
What Is a Round Robin Parlay Bet? – Sports Betting
Aside from parlay bets, round robin bets allow you to place multiple bets in one betting slip. Though round robin bets can result in high payouts with lower risk, they can be a little complicated, especially for novice bettors.
Read on and learn more about how round robin bets are made. SportsBetting.com commits to helping clients become successful bettors by educating them on betting types, like round robin bets, and introducing them to other betting lingo and terms.
We also offer round robin betting strategies and tips to give you an advantage when placing your round robin bets.
What Is a Round Robin Bet?
Round robin bets involve placing multiple team parlay bets on a single ticket or bet slip. It is a hedging strategy or a way to manage the risk of your bets.
The term “round robin” comes from the concept of round-robin tournaments. In these round-robin games, each team will play against each other at least one time.
Some of the most popular sports that use round robin bets include basketball (NBA), baseball (MLB), football (NFL), horse racing, hockey (NHL), and soccer (MLS).
A round robin bet consists of a series of smaller parlay bet combinations.
These different combinations usually include at least three individual bets on three different numbers of teams, with a maximum of 10 teams.
Round robin wagers are made to reduce the risk of parlay bets. But how can you differentiate a round robin bet from a traditional parlay bet?
Not every individual parlay must win for you to earn from a round robin bet. Each parlay stake is independent of the other.
Let’s say you bet on three combinations of different two-team parlays. You can still profit from your round robin bet even if only two out of your three parlays win.
In parlay betting, all single bets should win for a bettor to win the stake.
For example, you have $100 to bet on NFL games. If you put this money on a round robin bet, you can split it into various teams. If at least two of them win, you will profit from your stake.
But if you stake $100 on a parlay bet, all your selections must win for you to earn from your stake.
In round robin betting, you place smaller bets to have better odds of winning.
This betting type allows you to spread out the risk of your stake into multiple sets of matchups and gives you a chance to cover the spread for each bet.
The maximum number of parlays allowed in a round robin bet is six-way, including eight teams for those parlays.
Although round robin parlays have a relatively smaller payout than parlay bets, they minimize your losses without affecting your possible payout that much.
You can also still anticipate a win even when one of your round robin bets loses.
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Advantages of a Round Robin Bet
The risks are lower when you choose to make round robin bets rather than regular parlay betting. But despite being a low-stake bet, round robin bets allow you to spread out your risks without totally sacrificing your payout.
It is advisable to stick with a simple two-team or three-team parlay to maximize your round robin bet’s profit.
Multiple bets are also advantageous as they allow you to cover different betting lines, like moneyline bets and point spreads. Other multiple bet types you can choose from include teaser bets and parlay bets.
Visit our website to start making multiple bets on your favorite sports team.
Round Robin Betting Guide
To make a round robin bet, you need to make at least three two-team parlays with three betting lines.
Be careful when creating the different parlay combinations. Don’t forget to factor in the betting odds.
Most online sportsbooks have software that automatically creates the parlays you can choose for your round robin bets. To profit, you should win at least two of your three parlays.
It’s also vital to remember that, as the number of bets in the parlay size increases, the bookmaker’s edge also increases.
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We know how vital sharp and competitive odds are to you, so we strive to offer some of the best lines in the sports betting industry to give you an edge.
The Round Robin Model
When building your round robin parlays, it’s important that you understand the round robin model.
For example, you want to bet on Teams 1, 2, 3, and 4. If you’re to make a round robin bet on these four teams, you can make six two-way team parlays.
These are the possible combinations:
- Team 1 – Team 2
- Team 1 – Team 3
- Team 1 – Team 4
- Team 2 – Team 3
- Team 2 – Team 4
- Team 3 – Team 4
This way, the stake is spread out in these combinations.
Let’s say team 3 lost its match. Only the parlay combinations involving team 3 will lose. You’ll still profit from the other combinations, namely parlay combinations 1-2, 1-4, and 2-4. You can also do this in a four-team parlay.
Compared to straight bets and traditional parlay bets, round robin bets may provide more security when it comes to your earnings.
Calculating Profits From Round Robin Bets
Most online sportsbooks provide calculators and apps to make calculating round robin winnings easier.
Using a round robin bets calculator, you can see the maximum win amount, the situational result, and the bet’s total risk.
Here’s what you have to input in the round robin bet calculator:
- Notional bets or the dollar amount of the round robin bet
- Number of matches included in the round robin bet
- The parlay size or the number of games included in the parlay
- The game line or result, which may be set as a win, push, or loss
For instance, you want to make a round robin bet on the NHL (National Hockey League). You created a parlay combination that includes the following NHL teams and the odds assigned to them:
- Philadelphia Flyers (-1.5, -110)
- Colorado Avalanche (-1.5, -110)
- Anaheim Ducks (+1.5, -110)
|Parlay Combination||Teams Involved and Their Odds|
|Parlay 1||Philadelphia Flyers -1.5 (-110) and
Anaheim Ducks +1.5 (-110)
|Parlay 2||Philadelphia Flyers -1.5 (-110) and Colorado Avalanche -1.5 (-110)|
|Parlay 3||Colorado Avalanche -1.5 (-110) and Anaheim Ducks +1.5 (-110)|
In this example, if at least two of the parlays win, then you will profit. But if all of these parlay combinations fail, you lose the round robin bet.
Calculate your round robin bets here.
Round Robin Betting Strategies
Some bettors, especially beginners, may find round robin betting complicated. Here are some straightforward strategies to increase your chances of winning this type of bet.
- Make sure to cover all the straight or single bets you want to place. Don’t forget to include parlays you feel strongly about. Pay attention to the odds in the betting market. You should only go for the best and sharpest odds.
- Maintain a two-team parlay. The setup is simpler. This way, you can keep track of the combinations easily.
- Use the calculator to know the maximum payout and risk you are putting on a particular bet. This way, you are fully informed of the stake you are making.
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Other Round Robin Bets
Some of the round robin options you can choose from include an each-way round robin, Trixie, patent, Yankee, and Canadian. Of these five round robins, the first three options are commonly used in horse racing.
|Round Robin Bets||Description|
Each-way Round Robin
|An each-way round robin is a betting strategy that entails choosing a horse you think will win outright or place (either second, third, or whatever is agreed upon).
In an each-way round robin, you may bet on multiple races and make three to eight picks.
|When you place a Trixie bet, you are placing four bets on three selections. This betting type offers complete coverage on all combinations of multiple bets.
In a Trixie bet, you can get your total stake back when at least two of your three selections win.
This bet includes three doubles (2-team parlays) and a treble (3-team parlays).
|When you place a patent bet, seven bets are placed on three selections.
This type is like a Trixie bet, but with three additional single bets. So a patent bet includes three singles, three doubles, and a treble.
To win a patent bet, you only need to win one selection.
|A Yankee bet involves 11 bets on four selections. These 11 bets include six doubles, four trebles, and a four-fold accumulator.
You can win a Yankee bet if at least two of your selections win.
|A Canadian bet or a Super Yankee consists of 26 bets on five selections. This bet includes 10 doubles, 10 trebles, five four-fold accumulators, and a five-fold accumulator.
To profit from a Canadian bet, you should win at least two of your selections.
Although placing multiple bets can give you higher earnings, it can also result in huge losses. So you have to be mindful of your bets and bankroll and practice betting responsibly.
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Only those 21 years of age and above can bet on our website. A sophisticated verification system helps identify minors who attempt to log in to the SportsBetting.com website.
We also promote bet limits, deposit limits, and time limits to put a cap on your betting activity and deposits, so you’re in control of your spending.
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This is ideal when you’re planning to make a round robin bet.
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