How Does Round Robin Betting Work for Sports Betting?

June 20, 2023

Round-robin betting is a unique form where you place multiple parlay bets simultaneously. It gets its name from round-robin tournaments in sports, where every team plays against each other at least once.

When you have several different betting lines, such as moneyline bets, spread bets, and totals bets, that you want to combine into a parlay, you have two options:

  1. Create a single, large parlay that links the outcomes of all events together.
  2. Create multiple smaller parlays that include all possible combinations of events.

The first option is known as a traditional parlay, while the second option is referred to as a round robin.

To make a round-robin bet, you must include at least three parlays, but there is no maximum limit. The number of parlays depends on the combinations and blending you want to bet on and the size of the parlays you prefer.

Round-robin betting affects your potential payout but also increases your chances of success by providing more opportunities to win.

Round Robin Betting a Great Strategy?

Round-robin betting is an intelligent strategy to minimize losses while retaining the potential for a decent payout. Unlike a single large parlay where a wrong prediction can cause the total bet to fail, round-robin bets safeguard against such situations. Although the payouts in round-robin bets are generally smaller than hitting a single big parlay, the advantage lies in not worrying about the total bet being lost due to a single incorrect prediction.

In essence, round-robin betting acts as a form of insurance that balances minimizing losses and maintaining the potential for a substantial payout.

How to Construct a Round Robin Bet

To better understand round-robin betting, let’s consider an example. Suppose you have three lines that you’re interested in:

  • Brooklyn Nets +7.5 (-110)
  • Dallas Cowboys -3.5 (-110)
  • New York Rangers +1.5 (-110)

If you were to create a traditional parlay, you would need all three teams to cover the spread for a payout. However, with round-robin betting, you can make a “security policy” where you can remain profitable even if one leg of the parlay fails.

In this case, instead of constructing a single parlay where all three events must be successful, you would create three separate two-team parlays. This means you’ll have three combinations:

  • Brooklyn Nets +7.5 (-110) and Dallas Cowboys -3.5 (-110)
  • Brooklyn Nets +7.5 (-110) and New York Rangers +1.5 (-110)
  • Dallas Cowboys -3.5 (-110) and New York Rangers +1.5 (-110)

By creating these multiple two-team parlays, you have increased your chances of winning and reduced the risk potential of losing the entire bet if one outcome doesn’t go as expected.

Round Robin Bets in Action

Let’s see how the round-robin bet plays out with the given example:

  • If the New York Rangers fail to cover the spread, the first parlay involving the Brooklyn Nets and Dallas Cowboys would still be successful.
  • If only the Brooklyn Nets fail to cover the spread, the second parlay, which includes the Cowboys and the Rangers, would be a winner.
  • If the Dallas Cowboys fail to cover the spread, but the other two events succeed, the third parlay with the Nets and the Rangers would result in a payout.

Each parlay you create is treated as an independent event in a round-robin bet. It’s important to note that it’s also possible for all the parlays within your wage to round robin to be successful. If this happens, you will receive an even larger payout.Round-robin betting allows multiple parlays that offer protection if one or more outcomes don’t go as expected. Each parlay has its potential for winning, and if all parlays within the round-robin bet are successful, you can enjoy a higher payout.

How Are Round Robin Bet Payouts Typically Structured?

Let’s break down the calculations using the example provided. If you construct a round-robin bet with the three lines you liked (Nets, Rangers, and Cowboys), you would have three different two-team parlays. Assuming a standard two-team parlay with both teams listed at (-110), the payout would be +260. This payout is commonly seen across various online sportsbooks.

Let’s say you wager $5 on each of the three parlays. If all three teams cover as expected, you would win $39 in pure profit and receive back your initial $5 stake for each parlay, resulting in a total return of $54.

If one event in your robin bet round fails, you would still win $13 and get your $5 stake back. A successful parlay would return $18, including your $5 stake. After subtracting the $10 you wagered on the other two parlays, you would walk away with a profit of $8.

With a round-robin bet, you would still break even if one leg fails. However, you will retain all the parlays within your round-robin bet if two teams cover.

Let’s consider if you bet the same $15 on a single three-team parlay with the Nets, Rangers, and Cowboys. If all three teams cover, you will win $90. However, if any individual leg of your parlay fails, you will lose the entire bet.

Round-robin betting offers the potential for rewarding payouts like a parlay while providing added security. It allows you to retain some profit and mitigate losses even if one leg of the bet fails.

How Do You Make a Round Robin Bet?

Making a round-robin bet is made easy by the software provided by reputable sports betting sites. These platforms allow bettors to save time and automatically generate round-robin bets. To create a round-robin bet, select the desired lines you want to include, choose the “round-robin” option, indicate the number of legs within the parlay (how many different ways to parlay), and specify the amount you want to bet. Based on your inputs, the sportsbook’s software will generate all the necessary options for your round-robin bet.

The process is straightforward if you’re dealing with only three lines. However, if you’re working with eight different lines and a five-event parlay, the number of parlays you need to create increases significantly, reaching 56 parlays.

Handling many such combinations can become tedious and prone to errors. This is where accurate betting software becomes invaluable, eliminating the hassle of manually creating complex round-robin bets.

Most sportsbooks typically allow bettors to include anywhere from three to eight teams in a round-robin bet. However, it’s important to carefully review the terms and conditions of each sportsbook to confirm this information and any specific limitations.

As a word of advice, always pay close attention to the terms and conditions provided by the sportsbook to ensure you clearly understand their round-robin betting options.

The “Number of Ways” Option

When selecting the “number of ways” or parlay size in round-robin betting, it’s important to understand the options available. If you have chosen only three lines, you can have a parlay size of up to two lines.

On the other hand, if you have chosen four lines, you can create a parlay that consists of two or three events. For example, with four lines and a two-event parlay, you would have a total of six possible combinations that you can construct.

“Number of Ways” Option in Action

Using an example, let’s see the “number of ways” option in action. 

Suppose you have selected four moneyline bets for NFL Sunday Football involving the Dallas Cowboys, Philadelphia Eagles, New York Giants,  and Seattle Seahawks to win their respective games.

If you decide to construct a two-event parlay, there would be six combinations available to you:

  • Dallas, New York
  • Dallas, Philadelphia
  • Dallas, Seattle
  • New York, Philadelphia
  • New York, Seattle
  • Seattle, Philadelphia

These combinations represent the various pairings of teams within the two-event parlay.

Alternatively, if you opt for a three-event parlay with the four moneylines, the combinations would be:

  • Dallas, New York, Philadelphia
  • Dallas, New York, Seattle
  • New York, Seattle, Philadelphia
  • Seattle, Dallas, Philadelphia

These combinations show the different combinations of three teams within the three-event parlay.

The “number of ways” option lets you determine the parlay size in round-robin betting. In this example, you can construct a two-event parlay with six combinations or a three-event parlay with four combinations based on the selected moneyline bets.

Round Robin Betting Is a Good Opportunity for Bettors

If you desire the potential for significant payouts that parlays offer but wish to minimize the associated risks, opting for a round-robin bet is an intelligent choice. By incorporating round-robin betting into your overall strategy, you can maximize your return on investment while keeping the level of risk relatively low.

Leave a Reply

Your email address will not be published.