If you’ve ever come across “Round Robins” in your sportsbook and can’t quite grasp the concept — you’re not alone. Round robins can be a great addition to your betting strategy but they require a thorough understanding in order to use them effectively. So, how does a round-robin bet work exactly? We’re here to answer that. We’ve created a complete guide on round robins just for you.
In this article, we will take a closer look at what a round-robin bet is, how a round-robin bet works, the advantages and disadvantages of this kind of betting, and offer tips on how to nail your round-robin bets.
Are Round Robins Just Parlays?
Not exactly. Round-robin betting involves making multiple bets on a group of teams or players at once. It is essentially a series of smaller connected parlays that combine into a larger bet. It lets you combine between 3 to 10 parlays.
What’s The Difference Between Round Robins And Parlays?
In a parlay bet, the bettor places a single wager on multiple teams, games, or players. Usually this is to win or cover the point spread. If all the selections win, the bettor wins the parlay and is paid out at higher odds than if the bettor had placed individual bets.
In round-robin betting, you make a series of parlay bets involving the same group of players or teams, but under the same wager. Think of it as a safer parlay but with a nerfed payout because the bet doesn’t require you to hit every game.
How Does a Round Robin Bet Work?
Round-robin betting allows the bettor to make a series of smaller parlay bets involving a group of teams. The bettor selects a group of teams and then creates a string of smaller parlays involving those selections. Each of the parlay bets in the round-robin includes a different combination of the selections from the original group.
Example Of How A Round Robin Works
For example, let’s say you want to bet on four NFL teams to win this weekend: the 49ers, Cowboys, Colts, and Vikings. You could create a round-robin bet that includes all possible three-team combinations of those four teams, resulting in four separate three-team parlay bets. The bettor would place a single bet on each of the parlays.
And hey, if you’re still a little confused, that’s okay. You still might be wondering, “How does a round-robin bet work? Let’s take a look at a round-robin bet in action.
| Parlay #1 | Parlay #2 | Parlay #3 | Parlay #4 |
|---|---|---|---|
| 49ers Win AND Cowboys Win AND Colts Win | Cowboys Win AND Colts Win AND Vikings Win | 49ers Win AND Colts Win AND Vikings Win | 49ers Win AND Cowboys Win AND Vikings Win |
As you can see, we’ve put together every possible three-team parlay involved with these four NFL teams. Note that the type of bet is not important to round-robin betting.
In this example, we’ve chosen teams to win outright (or moneyline), but you can bet spreads, overs, unders, etc. Check your sportsbook to find out which bets you can include in a round-robin.
If any three of the four teams win, the bettor wins one of the parlay bets. If all four teams win, the bettor wins all four parlay bets. The advantage of the round-robin bet is that it provides a degree of insurance against losing bets – even if one of your selected teams loses, you still have a chance to win one more of your other parlays.
Round Robin Rule
To win your round-robin bet, three out of the four parlays must win. So even if you lose a single parlay, you still win money. The number of parlay wins required to win a round-robin bet depends on your online sportsbook.
The default number of parlay wins required is usually one less than the number of teams or players selected. So if you choose three teams in your selection, two parlays need to hit. If you choose four teams, three parlays need to hit, and so on.
Pros and Cons of Round Robin Betting
Advantages of Round Robin Betting
There are several advantages to making a round-robin bet.
The biggest advantage is that round-robin bets provide a degree of insurance against losing bets. Even if one of your selections loses, you can still win one or more of the parlay bets, which can result in a smaller payout but still offer winnings.
Round-robin bets can also be useful for bettors who want to increase their chances of winning while minimizing their risk. By combining several smaller parlay bets, bettors can potentially win more often than they would with one large parlay. So, using our previous example, if you are less confident in the Cowboys than the other teams in your selection, you can still come out on top even if the Cowboys lose.
Another advantage of round-robin bets is that it allows bettors to make multiple bets on a group of teams with less money than it would cost to make individual bets on each selection. This is useful for bettors with a limited bankroll who want to maximize their winnings.
Disadvantages of Round Robin Betting
While round-robin betting can be a useful strategy for sports bettors, it does come with some disadvantages as well.
One of the biggest disadvantages is that it can be more expensive than placing individual bets. Since round-robin bets involve multiple parlays underneath them, the cost of the round-robin bet can add up.
Another disadvantage of round-robin betting is that it can be more complicated than traditional betting, especially for novice bettors. As you’ve probably noticed, round-robin betting can get confusing, especially if you are new to the term. It requires a thorough understanding of how parlay bets work and how to calculate the potential payout for each bet.
We suggest heading to BETMGM and playing around with the Round Robin tool to understand how to place these bets and what kind of payouts to expect.
Finally, as with all sports betting, round-robin betting does not guarantee a profit. While it can increase the chance of winning, it also reduces the potential payout.
Tips On Making A Round Robin Bet
Here are some tips on nailing your round-robin bets:
- Take advantage of risk-free bet offers: This is the best way to learn about round-robin betting. We always recommend BETMGM and their $1000 risk-free bet.
- Use a Round Robin calculator or a parlay calculator: This will help you understand risk and payouts. Round-robin betting is a complex strategy that only gets confusing with more selections you add to your round-robin.
- Choose selections carefully: Even though round robins provide a degree of insurance against losing bets, you still want to have a good understanding of teams and players and consider other factors like injury, form, and head-to-head records.
- Manage your bankroll: As with any form of sports betting, it’s essential to manage your bankroll carefully. As we’ve seen, round-robin involves multiple bets which can add up quickly. Make sure you have a clear budget and know what you can afford to lose.
- Shop around for the best odds: You wouldn’t buy a car without shopping around, so don’t do it with your sports bets. We love the odds at BETMGM, but do your research and find the lines that are best for you.
Trial & Error
So now you’ve got an answer to your question, “How does a round-robin bet work?” Round-robin bets are a great addition to your sports betting strategy.
Play around with round-robin bets. See what types of combinations you can come up with. This is the best way we have found to really learn all about round-robin betting.