Round Robin Betting

Bettors who desire to hedge their wagers regularly favor round robin bets. Such bets are quite beneficial for gamblers who can master them, as they can select various combinations from their picks. 

The popularity of round robin bets among bettors tend to lie in the hedging aspect of these bets, as they enable a protection strategy. Let’s take a look at everything you need to know to understand what a round robin bet is.

What is a Round Robin Bet?

Round robin betting is a strategy employed by sports bettors in the form of a parlay bet, which allows breaking down a larger group of picks into smaller, individual parlays. This type of bet allows a bettor to spread risk across multiple combinations of the same parlay, whereas if one combination loses, the entire bet is not lost. 

By creating multiple, smaller parlays from your lot of picks, round robin betting gives the better the best chance of winning at least part of their bet, even if one of the players loses. Using round robin betting is appealing to bettors who are looking to hedge their bets while still coming out ahead with a solid payout.

How Round Robin Bets Work

With a round robin bet, you are selecting multiple teams or event outcomes, and the online sportsbook will automatically create a series of smaller parlays from your selections. As an example, if you choose three teams in your round robin bet, the sportsbook will create three two-team parlays. If you prefer four teams in your round robin bet, the sportsbook will generate six two-team parlays or four three-team parlays, all dependent on how you structure your wager.

At its core, a round robin bet will take your picks and combine them in various ways, which allows you to win your bet if most of your picks are right. 

As an example, using the NFL, if you select the Pittsburgh Steelers, Denver Broncos, and Baltimore Ravens, a round robin by twos would generate these parlays: Steelers & Broncos, Steelers & Ravens, and Broncos & Ravens. By using a round robin bet, even if one of those three teams loses, you can still profit on the other two-team parlays.

Types of Round Robin Bets

As you might have already gathered, there are various types of round robin bets that can be structured in different ways based on how many outcomes or teams you wish to combine for each “mini-parlay.” Common formats for different types of round robin bets include “by twos”, “by threes”, and so on based on how many selections you have in your wager.

A round robin by two will create two-team parlays from your selections, a round robin by three will create three-team parlays, and so on down the line. The more picks you include in your round robin bet, the more combinations you’ll have at your disposal.

As an example, if you chose four teams/selections in your round robin bet with the “by twos” type, you will have six combinations of two-team parlays. The potential payouts and risks will vary based on how you structure your round robin bet, with more combinations spreading out the risk, but lowering the overall payout.

Advantages and Disadvantages of Round Robin Betting

There are many upsides and downsides to round robin betting. Here are some of the key aspects to keep in mind.

Advantages

The biggest advantage of round robin betting is that it can increase your chances of winning your bet when compared to a traditional parlay because you don’t need to win every single selection in order to turn a profit. It also builds in an automatic hedge of your wagers and spreads risks across multiple combinations of the same teams. 

Disadvantages

The main disadvantage of round robin bets is that they cost more, as you are placing multiple bets within the same wager. Also, the payouts are lower compared to traditional parlays if all of your selections do win since the potential winnings are spread across multiple, smaller parlays.

Strategies for Round Robin Betting

To maximize your chances of winning your round robin bet, you have to consider using round robin betting on underdogs or if you have confidence in most, but not all, of your selections. Round robin betting also allows you to still win something, even if every one of your selections doesn’t come true, so they are best used when you don’t have the same confidence level in at least one of your picks.

Also, it’s important to manage your bankroll carefully, as round robin bets require you to make several smaller bets, where the cost and money risked can add up quickly. By betting smaller amounts on each combination versus one amount on all at once, you can manage the increased costs associated with the wager while giving yourself a chance at more than one payout. 

Conclusion

Round robin betting is a great way to hedge your bets and reduce risk compared to their traditional parlay counterparts. By breaking your picks into smaller two-team or three-team parlays, you still have the chance to walk away with a profit, even if all of your selections don’t win.

It is critical to balance your potential payouts with the increased costs associated with round robin betting, especially compared to traditional parlays with lower costs by higher risks. If you are looking for a way to minimize risk while still getting the excitement of a parlay, round robin bets are a great tool to experiment with. As always with anything new regarding sports betting, start small while you get the hang of the mechanics of round robin betting.

FAQ

Can you lose one leg of a round robin bet and still make a profit?

Yes, you can lose one leg of a round robin bet and still make a profit, as you are creating multiple parlays within the same bet. This means that even if one selection loses, you have other micro-parlays that will help you turn a profit.

How do sportsbooks create round robin bets from my selections?

Sportsbooks automatically create smaller parlays based on your picks based on the structure of your choosing, which includes twos and by threes.

What types of sports are best suited for round robin betting?

Typically, the best sports for round robin betting include football, hockey, and basketball team selections.

What does “by twos” or “by threes” mean in round robin betting?

“By twos” means that the sportsbook will create two-team parlays, and “by threes” means the sportsbook will create three-team parlays, all based on your overall selections.

How many combinations can be made in a round robin bet with four teams?

With a four-team round robin bet, the sportsbook would create six combinations of two-team parlays or four combinations of three-team parlays, depending on if you select by two or by three.