A round robin bet is a type of betting wherein you combine many pick selections into as many two-team parlays. This type of bet is best used when people want to get the most profit from their bet.
What is round robin betting?
A round robin sports bet is a combination of two team parlays, made up of a list of teams selected. It is usually categorized as a hedge, where a bettor tries to complete a huge set of parlay bets.
While a round robins bet is regarded as a hedge, it is different from a normal hedge bet, which is betting against a team in the selection, just to limit losses.
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How does Round Robin work?
We will now give an example to have the round robin bet explained. Let’s start with the three-team round robin bet. Team A , Team B and Team C. A round robin bet has three separate bets:
- Team A & Team B
- Team A & Team C
- Team B & Team C
If every round robins team were lined for odds of -110, plus the risk of each wager was $5 for every parlay, the whole amount wagered would be $15. The maximum payout of all the three wagers in betting round robin would be $39.67.
Let’s now use a sports betting round robin example for World Cup Teams. For example there are three teams playing at the same time. Your picks were the following:
- Argentina (-200)
- Brazil (-200)
- France (-200)
If we are round robin gambling betting $5 per parlay, with the creation of three parlays, it would equal $15. If bet on separately, the payout ill be $22.50 on a $15 wager.
If the wagers are put together in a round robin bet, the payouts appear different. With each selection put together in a parlay, if all teams win the games. The payout on the $15 wagers will be $33.75 combined.
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Creating Round Robin Bets
Thanks to online casino sites, creating sports betting round robin bets are now easier. For example, if we make a 3-team round robin bet in football we have four teams in the spread. The selections show up in the bet slip, if we go to the Round Robin Box and see the breakdown. The round robin calculator also displays how much you stand to win from your selections.
What about what happens in a 4-team round robin bet? As the numbers go higher, there is a potential to win more. This is true if, say, a 5-team round robin bet covers all the point spreads. But then, this incidence rarely happens, and you can find yourself failing to pick the winner in a 6-team round robin bet. But the group of bets into two-team parlays can help mitigate losses that result from parlay betting.
How to place a round robin bet:
- Choose how many teams you want to include in your round robin bet.
- After that, open the bet slip and locate the Round Robin betting tab
- Next, to complete the round robin sports bet, put in the amount you wish to wager. The calculator would then give you the whole amount for the bet.
Round robin bet calculator
To know how round robin bets are paid out, you have to break the wager down individually via a round robin bet calculator. Let’s once again look at the 3-team round robin bet, with each team having -110 odds. Also, let’s have every bet at $5.
In this table, the breakdown of a 3-team round robin is shown.
Parlay Wager | Result | Risk | Parlay | Payout |
Team A+B | Win | $5.00 | 264 | $13.22 |
Team A+C | Win | $5.00 | 264 | $13.22 |
Team B+C | Win | $5.00 | 264 | $13.22 |
Total Payout |
|
|
| $39.66 |
Meanwhile, in the table below, the payout is made based on the results where Team A loses,
Parlay Wager | Result | Risk | Parlay | Payout |
Team A+B | Loss | $5.00 | 264 | $0 |
Team A+C | Loss | $5.00 | 264 | $0 |
Team B+C | Win | $5.00 | 264 | $13.22 |
Total Payout |
|
|
| $13.22 |
Round Robin Betting Strategy
If you are a recreational sports bettor, round robin sports bet making is a good alternative. This is because in a long shot parlay, a loss by one team loses you the whole bet. However, for round robin betting, you still can win.
If you are serious in betting, and make a big part of your income through sports betting round robin, it may be a suitable choice. This is because round robin bets can hedge out and lessen losses. Depending on the timing of the sports bet round robin, you could bet on the opponent, ensuring long term profit.
How to Best Maximize the Round Robin Bet
It is fairly easy to make round robin bets on many online sportsbooks. But some sportsbooks allow round robin betting on moneyline odds. To find the round robin betting option, click the tab or check the box on the betting slot.
It is best to use round robin bets not only on multiple games a day, but also for correlated parlays. You can do such bets when you put together bets for 1st Half totals and full game totals for soccer, American football, hockey, cricket and basketball. With a correlated parlay and sports bet round robin, you can increase your chances of winning, better than what the odds indicate.
FAQs
· Where is it possible to put around round robin bets?
Many sportsbooks give the round robin bet for any selection. But most sportsbooks give the round robin bet for moneyline bets. The round robin bet can be found on the online sportsbook by clicking a tab in the bet slip.
· How many wins will be needed for a round robin payout?
Depending on the number of round robin bets, and the odds for each selection, half of the wagers have to be won for a profit. For a simple 3-team parlay round robin, you need to win two of the wagers to get a profit.
· What is a 3 pick round robin bet?
Here, you put together three selections in the combining of three two-team parlays.
· How do round robin vs parlay compare?
If you are a casual bettor that is willing to bet more to lessen risk, round robin bettings is better than parlay betting. Though limiting to two team parlays, variance in a round robin bet is limited had higher chance for of a payout.
