Here’s how you can give Round Robin Betting a try, with the help of our Round Robin Bet Calculator to make things simpler.
If you are looking for a safer way to bet on a bunch of different matchups, look no further than round-robin betting. And no, it’s not quite the same as parlay betting.
Let’s examine how round robin betting works, when to use it, and why it might be right for your bet slip. We will then dive into examples using our round robin bet calculator.
What is a Round Robin Bet?
A round robin bet is a series of smaller parlays on the same bet slip. Round robin betting aims to mitigate parlay losses by breaking them up into smaller subsections.
In other words, instead of having one wager in which every leg must win, round robin bets give you the opportunity to win based on a combination of legs. It doesn’t matter if any leg in your round robin is a loser – you can still be a winner.
Round robin wagers can be placed on several different sports. Whether it’s baseball, ice hockey or soccer, round robin bets exist and can be wagered on.
How Does a Round Robin Bet Work?
First things first, let’s go back and quickly run through what a parlay is. In sports betting, a parlay bet is a type of wager where a bettor makes two or more bets that are then tied together to make one bet. So, it is a bet made up of smaller bets that are linked together and treated as one bet. “Treated” is the keyword here.
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Because these are treated as one bet, if one of the bets on the bet slip loses, all of them lose. Think of it this way: You have a parlay that is $100 with the Red Sox (+150), Yankees (+100), and Rays (+200). You are not betting on one of these teams to win. You are betting on ALL of them to win. See how that is going to be more difficult? The chances are lower, which means the payout is higher. A $100 bet on all of these teams winning would earn you about $1500.
So, Round Robin Parlay…
Round robin bets, on the other hand, allow you to bet on different combinations from the games you selected in order to avoid an all-or-nothing scenario. So, in the above example, the Sox, Yanks, and Rays must win. But with a round robin bet, you are breaking that up into three, two-team parlays:
- Sox and Yanks must win
- Yanks and Rays must win
- Sox and Rays must win
If any of those three plays out and the teams win against the spread, you will win at least one of your bets. The more combinations that you correctly pick, the more you win. Of course, there is a tradeoff.
Remember that parlays pay big because the chances are high. Round robin bets have better chances of winning and thus less risk. So, it makes sense that the payout will be less on a round robin where all your picks win than in a parlay where they all win.
How to Bet Round Robins
Most of the time, a round robin bet will be pretty large and involve many different combinations. For example, a common bet slip will include five teams. Instead of submitting it as a five-team parlay, where one loss would sink the whole slip, you can request that the slip be broken up into a certain number of combinations at X dollars a piece.
Each team will be involved in 10 of the 20 combinations. So, if the Sox were to lose, any combination with them included would be dead, but the others would still be alive.
Filling Out the Bet Slip
When filling out a bet slip, choose the number of teams and then the number of combinations. This is written or said as “A round robin by twos and threes (or whatever combo you choose)”.
The sportsbook will generate the options for you based on the inputs you choose. This is pretty straightforward with three lines, but most sportsbooks allow up to eight and things can get pretty hectic. Bear in mind that all of this applies to online sportsbooks as well.
Are Round Robin Bets Worth It?
Here’s why round-robins are good bets.
Firstly, they are safer than a traditional parlay. In fact, sportsbooks make more money from parlays than individual bets because the odds of losing are higher. With a round robin bet, even if one of your teams loses you can still make out with some money.
Round robins can, however, get very expensive.
If you were to put $5 on a five-team round robin, you could quickly find yourself on the line for over $100 dollars. Of course, you can bet less on a round robin, but payouts will be lower and it might wind up not being worth your time.
The best use for round robins is betting on the underdog on the Moneyline (to win the game). You have a better chance of hitting a multiplier even if some of the bets don’t work out. Chances are, one of the teams will be an upset and you will take home some decent pay.
Next time you are considering a parlay, try a round robin instead and see if this type of betting is right for you. Our very own Round Robin Bet Calculator is on its way…
Where Can You Place a Round Robin Bet?
This is probably exactly what you want to hear. Round robin betting is possible at all legal online sportsbooks in the US.
Just choose the online sportsbook that you wish to begin betting at from the list before. Click ‘Claim’, if you are new to any of them, to receive a tasty welcome bonus too!