What Is Round Robin Betting?

A round robin wager in sports betting allows bettors to create a series of small parlays from a list of several bets. Most bettors already know that a parlay is made up of multiple bets tied into one wager, in which all the bets must win to make a profit.  The round robin betting meaning originates from tournaments of the same name in which each team must play every other team. The concept of round robins in sports betting is the same, with each bet being combined with every other bet into smaller parlays. 

Top 5 Rated Sportsbooks For Round Robin Betting

How Does Round Robin Betting Work?

Let’s say a player has a list of six bets they want to place and doesn’t feel strongly about one over the others. They can put these wagers together in a round robin instead of just one six-team parlay.  The chances of hitting a six-team parlay are pretty low, with the odds of winning at about 63 to 1. However, the odds of hitting a two or three-team parlay are much higher at 2.6 to1 and six to1.  By putting these bets into one round robin wager, players have the option of many different parlay options, with the bet amount equaling the stake on each parlay. Players can create the following parlays from these six bets:

• 15 two-team parlays
• 20 three-team parlays
• 15 four-team parlays
• Six five-team parlays
• One six-team parlay

For example, making a $2 wager on 20 regular three-team parlays would cost bettors a $40 stake. However, each of those winning parlays would pay a bettor six to one odds, so hitting several of them would give them a substantial payout. The only downside is that players must win all of the legs on each parlay to have a winning bet.  Odds for round robin bets are the same as standard parlay odds, with the only difference being that there are many more of them. Calculating the amount each winning parlay pays out can sometimes be challenging.  For example, betting a regular three-team parlay at standard odds of -110 for each event would pay the bettor about $60 on a $10 wager. If the player instead did a three-team round robin (three two-team parlays) with a wager of $10 and all three teams won, their profit would be $100. This is one advantage of betting round robins instead of regular parlays. However, each leg of the round robin would cost the player $10, meaning the total stake would be $30.  This extra amount that sports bettors must stake for round robins may keep some bettors from using this option. Also, just like a regular parlay, all three bets need to win for the round robin bet to be profitable.  If two teams win on the same three-team round robin, the payout would be just $26. However, the loss of $4 is better than losing $10 on a single three-team parlay wager. With round robin betting, if one or none of the teams hit, then none of the legs of the round robin are winners, and the bettor will take a $30 loss instead of the $10 loss they would take on a single parlay.  As players can see from the above scenario, there are pros and cons to both types of wagers. While round robin bets require a more significant investment than a regular parlay, they can also increase the player’s profit while lowering the chances of their wager being a total loss. However, like all types of parlay wagers, round robins can give players big rewards at a greater risk as the odds of winning are much lower than making standard wagers. 

Tips And Strategies For Round Robin Betting

There is some strategy involved that sports bettors can use to help maximize their profits when making round robin wagers. Just like with parlays, the biggest advantage players can get is by betting underdogs on the moneyline. The payout on each parlay increases substantially when only selecting teams with positive odds. Underdogs come out on top consistently, so it’s sometimes a great idea to bet on them.  For example, say a player bets $10 on a three-team round robin with odds on each team of +110, +150, and +100. It would cost the bettor a $30 stake, while the maximum profit would be about $114 for winning all three. If the teams at +110 and +150 are winners and the team at +100 is a loser, the bettor would still win $22.50 on their wager.  If the team at +150 loses and the other teams win, the bettor wins $12. Finally, if the team at +110 loses and the other two are winners, the payout would still be $20. So when betting three underdogs in this situation, the player still gets a return when winning just two of three bets instead of losing everything on a regular three-team parlay.  Another strategy used when betting round robins is hedging. By adding games with staggered start times to the bet, players can hedge their bets to ensure they make a profit if they start with wins on their round robin.  Hedging is when players bet on the other side to ensure one of the wagers will win. Combining this strategy with betting underdogs is very effective when making round robin wagers. 

Where Can You Find Round Robin Betting?

The best thing about round robin wagers is that players can select any available sports market and utilize any type of straight bet to add to their choices. Many top betting sites offer round robin wagers on markets such as the NBA, NFL, MLB and the world’s major soccer leagues.  All of these providers are regulated in the U.S., meaning you can trust your personal information is secure, and the site is guaranteed to pay out profits promptly. In addition, players can sign up to any legal site and also have the chance to take advantage of a welcome bonus that can add free bets or cash to use however they like.