What is a Round Robin? Round Robin Betting Explained
Round Robin betting is an exciting and flexible way to mix things up with your wagers. It lets you place multiple parlay bets at once, giving you a better shot at a payout, even if not all your picks hit. You can select anywhere from 3 to 8 teams and create multiple parlay combinations out of them. Unlike traditional parlays, where you need every single pick to win, round robin bets give you more room for error. Let’s break down how this system works, what makes it stand out, and how you can use it to your advantage.
What Exactly is Round Robin Betting?
In simple terms, round robin betting takes a bunch of your team picks and breaks them into smaller parlays. Instead of putting all your eggs in one basket with a single, massive parlay that needs every team to win, a round robin spreads your picks across multiple smaller parlays. These parlays usually consist of 2-6 teams each. The big perk? Even if one or more of your teams don’t cover the spread, you can still win something from the remaining combinations.
How Does a Round Robin Bet Work?
Let’s run through an example to make things clearer:
Imagine you’re betting on three NFL teams:
- Team 1: Rams +10.5
- Team 2: Packers -6.5
- Team 3: Lions +8
In a regular parlay, you’d need all three of these teams to cover for the bet to pay out. But with a round robin, you’re not putting all your money on that. Instead, it splits these three teams into smaller two-team parlays.
So, here’s what that looks like:
- Parlay 1: Rams +10.5 and Packers -6.5
- Parlay 2: Rams +10.5 and Lions +8
- Parlay 3: Packers -6.5 and Lions +8
Each of these is treated as its own separate bet. So, even if one parlay loses, the other two still have a chance to win.
How to Bet on a Round Robin
When you’re placing a round robin bet, you’re essentially betting on each parlay combo individually. So if you decide to put $50 on each two-team parlay, and you’ve got three parlays total, your bet would add up to $150. Let’s say the payout for each parlay is $130. If all three parlays win, you’ll walk away with $390 (that’s 3 parlays x $130 each).
Here’s a quick rundown of the steps:
- Pick Your Teams: Choose between 3 to 8 teams that you want to include.
- Decide on the Parlay Size: You can create parlays with 2, 3, 4, or more teams.
- Place Your Wager: Decide how much you want to bet on each parlay. Your total bet will be your wager multiplied by the number of parlays.
- Check the Results: As long as two or more of your parlays win, you’ll still cash in, even if one or more lose.
Breaking Down a Round Robin Example
Let’s say you’re feeling confident about 4 teams:
- Cowboys -4.5
- Eagles +3
- Chiefs -7
- Raiders +6.5
You decide to create two-team parlays from these teams. The round robin will create 6 different parlays:
- Parlay 1: Cowboys -4.5 and Eagles +3
- Parlay 2: Cowboys -4.5 and Chiefs -7
- Parlay 3: Cowboys -4.5 and Raiders +6.5
- Parlay 4: Eagles +3 and Chiefs -7
- Parlay 5: Eagles +3 and Raiders +6.5
- Parlay 6: Chiefs -7 and Raiders +6.5
If you bet $50 on each parlay, the total bet would be $300. Now, let’s say 4 teams cover their spreads—great! All 6 parlays would win, and you’d make a profit. Even if only 3 teams hit, you’d still cash in on some of those parlays, saving you from a total loss.
Round Robin vs. Parlay: What’s the Difference?
The main difference between a round robin and a parlay comes down to flexibility. In a standard parlay, all your picks must be correct to win anything. One team fails to cover? You’re out of luck. Round robin bets are much more forgiving. Since you’re making multiple smaller parlays, one miss doesn’t completely blow up your whole bet.
Here’s a quick comparison:
- Parlay Bet: You need every pick to be right to win. Higher payouts, but it’s riskier.
- Round Robin Bet: You can still win something even if one or more picks are wrong. Lower payouts, but less risk.
Mixing Moneyline Bets in Round Robins
You can even throw moneyline bets into the mix in a round robin. A moneyline bet means you’re simply betting on a team to win, no spreads involved. Including moneyline bets can either boost or reduce your potential payout, depending on the odds.
For instance:
- Betting on an underdog with a moneyline bet could lead to a bigger payout if they win.
- Betting on a favorite, however, might lower your payout because they’re expected to win.
Popular Sports for Round Robin Betting
You can place round robin bets on pretty much any sport that allows parlays, but they’re especially popular in:
- College Football (NCAA)
- National Football League (NFL)
- Basketball (NBA and NCAA)
- Baseball (MLB)
- Hockey (NHL)
Football is a favorite for round robin bets because of the point spread system, and the schedule makes it easy to build round robins around games that happen all day long—early afternoon, late afternoon, and evening matchups.
Basketball, baseball, and hockey are also fun for round robins, especially when there are several games happening on the same night. You can mix and match teams for endless parlay possibilities.
Benefits of Round Robin Bets
Round robins have several perks compared to traditional parlay betting:
- More Flexibility: You can still profit even if one or two of your picks miss the mark.
- More Winning Combos: With multiple parlays in play, you have more chances to win.
- Less Risk: Unlike a traditional parlay, losing one or two games doesn’t necessarily mean losing all your money.
- Widely Available: Almost every sportsbook offers round robin bets under their “exotic bets” category.
Drawbacks of Round Robin Bets
While round robins give you some breathing room, they’re not without their downsides:
- Lower Payouts: Since you’re reducing risk, the payouts aren’t as high as they would be for a full parlay.
- Higher Cost: Because you’re making multiple bets, your total stake can add up fast.
- Complicated: If you’re new to betting, understanding how round robin payouts work can be tricky.
Round Robin Betting Strategies
Want to make the most of your round robin bets? Here are a few strategies to consider:
- Stick to Fewer Teams: Choosing 3 or 4 teams keeps things simple and increases your chances of hitting multiple parlays.
- Mix Favorites and Underdogs: A balance of safe bets with a few riskier picks can lead to bigger payouts.
- Keep Track of Your Bankroll: Since round robins can get expensive, always stay mindful of how much you’re putting down.
- Plan for Game Times: In sports like football, spreading your round robin bets across games happening at different times keeps the action going all day.
Conclusion
Round robin betting is a fun and flexible way to spread out your wagers and lower the risk compared to traditional parlays. By splitting your picks into multiple parlay combos, you have more chances to win, even if one or two of your teams don’t come through. That said, round robins come with lower payouts and can be more expensive, so managing your bankroll and picking your teams wisely is key. Whether it’s football, basketball, or any other sport, round robin bets can add an extra layer of excitement to your betting strategy.
Frequently Asked Questions (FAQs)
What is a round robin bet?
A round robin bet splits your picks into multiple parlays, giving you more chances to win even if not all your picks are correct.
How many teams do you need for a round robin bet?
You can pick anywhere from 3 to 8 teams for a round robin.
How do round robin payouts work?
Your payout depends on how many of your smaller parlays win. Even if a few parlays lose, you can still win money from the others.
Can you include moneyline bets in a round robin?
Absolutely. You can mix in moneyline bets, and they’ll affect your overall payout based on the odds.
What sports are best for round robin betting?
Round robin bets are especially popular in football, basketball, baseball, and hockey.
How to calculate round robin parlays?
It depends on what you’re after. You can calculate Round robins to offer more flexibility and lower risk, while parlays come with higher risk but bigger payouts.