What is a Round Robin bet?
- Round Robin Sports Betting Calculator
- Round Robin Sports Betting Rules
- Round Robin Sports Betting Explained
- Round Robin Sports Betting Definition
A round robin is a way for bettors to make multiple parlay bets on a group of teams at once without having to creative a separate ticket for each of combination. A football specific round robin.
A round robin bet is a series of parlay bets that contain every combination of teams in the parlay.
A round robin parlay is a way to bet multiple parlays on one ticket. The best thing about this is that you don’t have to win all the parlays to win your bet. It is a way to create unique combinations with good solid odds. The payout odds on each parlay are the same odds that you would find on a standard parlay. ROUND ROBIN BETS? A round robin bet is a way to set up multiple parlays at once. Most online sportsbooks will allow you to have between two to six teams. From a technical standpoint, you could. Round Robin Bets A round robin is a wager where selections are placed into all possible parlay combos. For example, 3-selections of A, B and C placed into a 2-team round robin results in three unique 2-team parlays of A&B, A&C, and B&C.
Round robin bets must consist of at least three teams (or bets).
The parlay can be broken up into individual parlays that include every team in your original parlay. Round robin betting is typically used in sports betting and is a way to decrease your risk compared to a traditional parlay.
Visually, here is how a round robin bet breaks down (by parlay size) compared to a traditional parlay using a 5 leg parlay as an example:
Round Robin Strategy: Why You Need It In Your Arsenal
Round robin betting can seem intimidating at first, but once you take some time to understand it, they can be a powerful sports betting tool for you.
Round Robin vs. Parlay: Which one is better?
Round robin betting is a good bet if you have any of the following priorities:
- You want to bet a parlay but with less risk and thus smaller payouts
- You want to maintain interest in the teams in your parlays even if one of them loses (entertainment value)
- You have a bonus at a sportsbook that requires you to bet a certain amount before you can claim it
A straight parlay is advantageous for a few reasons:
- It is simple and easier to understand your potential payout
- There is higher risk and higher reward
- You don’t need to wager as much money to get a big payoff
Round robin betting and parlay bets are similar in that a round robin is simply a group of (smaller) parlays.
Round Robin Pros and Cons
Pros
- Less risk than a traditional parlay
- Keeps your interest even if one of your teams loses
- Good for burning through sportsbook bonus requirements
Cons
- Conceptually confusing
- Hard to understand your potential payout
- Won’t have the same payoff as a traditional parlay
Round Robin Bet Examples You Can Understand
Let’s say you have a four team NFL parlay bet that you want to bet $5 on as a round robin:
- New York Giants -110
- New England Patriots -110
- Dallas Cowboys -110
- Green Bay Packers -110
Using our parlay calculator, we can see that this 4 team parlay would pay out 13.28x your wager amount, or +1228 in American odds. A $5 bet would profit $61.42 if all four teams won.
Where Parlays and Round Robins Differ
In sports betting, a round robins differ from a traditional parlay by taking those four bets and breaking them into smaller parlays.
Taking the four team NFL example above, if we bet these teams in a round robin “by 2’s” (meaning a series of two team parlay bets), it would result in making six two team parlay bets:
All possible 2 team parlay combinations
Team 1 / Team 2 / Parlay odds
- New York Giants -110 / New England Patriots -110 / +264
- New York Giants -110 / Dallas Cowboys -110 / +264
- New York Giants -110 / Green Bay Packers -110 / +264
- New England Patriots -110 / Dallas Cowboys -110 / +264
- New England Patriots -110 / Green Bay Packers -110 / +264
- Dallas Cowboys -110 / Green Bay Packers -110 / +264
A round robin creates smaller parlay combinations and thus better odds of winning compared to a traditional four team parlay where each individual bet has to win.
Round robin bets keep the entertainment value alive if one of your parlay teams loses. Sports betting can be frustrating, so round robin betting can be a good balance of entertainment value and risk/return.
Round Robin Results You Can Understand
Continuing with our NFL round robin example, let’s say we see the following results:
- New York Giants -110 | WIN
- New England Patriots -110 | WIN
- Dallas Cowboys -110 | WIN
- Green Bay Packers -110 | LOSS
If this were bet as a traditional four team parlay, the bet would be graded as a loss since the Green Bay Packers lost.
If we were to bet this as a round robin by 2’s, we would see the following results:
- New York Giants -110 / New England Patriots -110 / +264
- New York Giants -110 / Dallas Cowboys -110 / +264
New York Giants -110 / Green Bay Packers -110 / +264- New England Patriots -110 / Dallas Cowboys -110 / +264
New England Patriots -110 / Green Bay Packers -110 / +264Dallas Cowboys -110 / Green Bay Packers -110 / +264
As you can see, of the six two team parlays, the round robin would have seen three parlay bets win, and three parlay bets lose.
If we would have wagered $5 on each of the six parlays, then we would have won $39.66 (three winning parlays profit $13.22 at +264 odds and a $5 wager) and lost $15 on the losing bets ($5 wager X three lost parlays).
This works out to a net profit of $24.66 ($39.66 – $15) on $30 wagered for getting three out of the four teams in your original parlay correct. A traditional four leg parlay would have lost your original bet of $5 for a profit of -$5.
What Happens When You Win All Bets in a Round Robin
Oh, what could have been.
Continuing on with our NFL 4 team round robin example, let’s say the Packers did win and thus each team in your parlay won. If you were to bet it as a round robin by 2’s, your profit would have been $52.88 on $30 wagered in total.
If you would have instead bet it as a 4 team parlay (wagering $30), your profit would have been a whopping $368.50.
Here you can see the trade-offs between risk and reward.
Hedging some of the risk through a round robin makes you more likely to profit, however it prevents you from the massive payouts that parlays can provide. While round robins are more conservative, a parlay can be exciting if you are lucky enough to win one.
Weigh each side and decide which type of bet is right for you.
How to Place a Round Robin Bet: Easier than You Would Think
To place a round robin bet, simply place each individual wager onto your bet slip.
Most sportsbook bet slips (both online and app) have 3 tabs: Standard, Teaser, and Round Robin:
Below, I have placed 5 moneyline bets onto my bet slip at FanDuel Sportsbook and selected the Round Robin tab:
Instead of manually creating multiple parlays, you can simply input the bets as a round robin.
Singles x5 wagers: This means you would bet each bet (5 separate wagers) on your bet slip. This is not a parlay at all, and the odds shown are simply the effective odds if you won all your bets.
By 2’s x10 wagers: This represents every combination of the 5 teams on your bet slip as 2 team parlays. This works out to 10 total wagers.
By 3’s x10 wagers: This is the same as above, except combinations of 3 team parlays instead of 2. 10 total wagers will be placed.
By 4’s x5 wagers: This means you would be placing 5 separate 4 team parlay wagers.
5 Team Parlay: Your traditional parlay where all teams n the parlay must win.
The odds shown in the screenshot represent what your effective odds would be if you won all of your bets. That is why the all of the round robin bets (“by 2’s”, “by 3’s”, “by 4’s”) have higher odds than just a single 5 team parlay.
Round Robin Bet Terminology You Need To Know
Parlay Size
Definition: The number of teams you are breaking your smaller parlays into.
Example: A 5 team parlay by 2’s would create 10 smaller parlay bets
Also Known As: “By X’s” (where X is your number), “Parlay Size”, “X Pick Round Robin”
Full Cover
Definition: A wager that comprises all possible combinations of parlays for the bets selected
Example: If you had 3 bets in your bet slip, a full cover bet would be 4 total bets (3 two team parlays and 1 three team parlay)
Trixie Bet
Definition: A type of full cover bet when you have exactly three bets in your bet slip. A Trixie would be every parlay combination of these three bets (4 separate bets placed).
Yankee Bet
Definition: A type of full cover bet when you have exactly four bets in your bet slip. A Yankee would be all parlay combinations of these four teams (11 separate bets placed).
A round robin is essentially an easy way to bet multiple parlays at the same time. You select the outcomes (teams) that you want to involve in the bet and then you choose if you want your parlay bets to include anywhere from 2 to 6 teams. If you select 2 then every combination that includes 2 teams will be parlayed, while if you select say 4 teams, then every combination of 4 different teams will be included.
Round Robin Bet Example
Round Robin Sports Betting Calculator
Here is a fairly simple example so you can get a basic idea. Say you want to bet on four teams in a three-way round robin bet. For this example here are the teams: Giants -7, Patriots -10, 49ers +4 and Packers +7. Now let’s say you want to bet $100 on each three-team parlay bet. Here is how the round robin would look:
Parlay #1
Giants -7
Patriots -10
49ers +4
$100 Bet to win $595.79
Parlay #2
Giants -7
Patriots -10
Packers +7
$100 Bet to win $595.79
Parlay #3
Giants -7
49ers +4
Packers +7
$100 Bet to win $595.79
Parlay #4
Patriots -10
49ers +4
Packers +7
$100 Bet to win $595.79
Overall you would be risking $400 to win a potential profit of $2,383.04. This is quite a bit less than the $4,913.33 you would win by putting all of the teams on one 4-team parlay bet, but the benefit is that if just one of your teams lose you will still win one of your parlays from the round robin and end up with a profit of $395.79.
When To Use Round Robin Bets
Round Robin Sports Betting Rules
Round robin bets are best to use when you feel strongly about several games, but don’t want to risk losing a large parlay. For example, if you are very confident about 5 NFL teams heading into Sunday it may be smart to bet these 5 teams in 3-team parlays to get a bigger profit if they all win than just betting them individually, but not having the risk of 1 team losing you the big 5-team parlay.
Round Robin Sports Betting Explained
Typical Round Robin Bet Rules
Round Robin Sports Betting Definition
Most online sportsbooks have the same rules regarding round robin bets, with standard parlay betting rules applying. Most sportsbooks have the minimum number of outcomes included in a round robin set at 3, with the max at 8. While the minimum number of teams in each parlay set at 2, with the max at 6. This maximum of 6 team parlays will only come into play when you are choosing 8 outcomes.