As stated above, round robin betting is a type of betting strategy that involves placing multiple parlay bets<\/a> on a group of teams or individuals. It combines various combinations of bets within a single wager. The purpose of round robin betting is to increase the chances of winning on online sportsbooks while spreading the risk across different outcomes.<\/p>\n It\u2019s easier to work through the process of the bet to allow you to get a better understanding of what is round robin betting. Here’s how round robin betting works.<\/p>\n First, you need to select a group of teams or individuals that you want to bet on. These could be teams participating in a sports event, such as football or basketball, or individual players in a tennis tournament.<\/p>\n Decide how much you want to bet on each individual parlay within the round robin. This will determine the total amount you will be risking.<\/p>\n In a round robin bet, you create multiple two-team or three-team parlays using the selected teams. Each parlay consists of a combination of teams from your original selection. For example, if you have selected teams A, B, C, and D, your parlays could include AB, AC, AD, BC, BD, and CD.<\/p>\n Round robin parlays will extend to include the number of picks that you chose. So, in the example above, your bets would be<\/p>\n With four picks you create 11 parlays, but as you add more picks, the number of combinations grows exponentially. An 11 team round robin bet would create 2,036 parlay combinations.<\/p>\n Once you have created the parlays, you place individual bets on each parlay. The number of bets will depend on the number of parlays you created. For instance, if you have six parlays, you will place six separate wagers.<\/p>\n Bets are placed per \u201cline\u201d, which means the stake you enter is per line. So, if there were six bets in your parlay round-robin wager then you place 6 bets. Assuming $10 per bet, the total stake would be $60.<\/p>\n If all the teams in a particular parlay win, that parlay is considered a winning bet. The payout for each winning parlay is determined by the odds associated with each team or individual in that parlay. You can calculate the potential payout by multiplying the odds of each team from your parlay betting wager.<\/p>\n It\u2019s best to convert to decimal odds for this as it means you simply multiply the betting odds<\/a> by each other. Alternatively, there are dozens of good round robin betting calculators that you can use for free to see possible returns based on the odds for each pick.<\/p>\n Round robin betting allows you to spread the risk across different outcomes with massive payouts available if all your picks win. Even if one or more teams in your selection lose, you still have the chance to win some betting parlays if other teams perform well.<\/p>\n \u201cSports bettors aren\u2019t always sold on high-risk, high-reward parlay bets that require all legs to hit, so putting together Round Robin bets can ease the anxiety. With Round Robin parlays, you can assemble a wager that plays to your money-management skills and, while the odds return won\u2019t be quite so high, the improved chances for a winning payout are appealing.\u201d<\/p><\/div><\/div> <\/div>\n We\u2019re going to run you through a real-world example of how a round robin bet will work. To do this, we\u2019ve used one of the best betting sites in the industry, BetOnline.<\/p>\n A key point to note about BetOnline (and there are multiple other top offshore sportsbooks<\/a> who adopt this format) is that they give you the option to bet only on the combinations that you choose. For example, if you\u2019ve 4 legs in your bet, then you can choose to bet on 6x double combinations (referred to as \u201cBy 2\u2019s\u201d) or you can bet on 6x treble combinations (referred to as \u201cBy 3\u2019s). This will make more sense as we work through it.<\/p>\n We\u2019re going to look at a series of markets for betting on MLB<\/a> games and our round robin bet will include 4 selections in the wager. These are:<\/p>\n The single odds for each of these outcomes can be seen in the image above.<\/p>\n At this point we have two options as to the type of round robin bet that we want to place. We can choose a combination of doubles, a combination of trebles, or a straight-up four-team parlay. We can also choose to bet on all three if we desire to cover a huge range of bets.<\/p>\n As you can see from the image above, if we were to place a $10 bet on the By 2\u2019s x 6 wager and all teams won, then we would be set to win $195.31. The amount that would be returned if one or more bets lost, would be reduced accordingly.<\/p>\n If we were to bet on the By 3\u2019s market, then we would win $307.43 for a $10 bet, assuming all four teams won. For this bet, we can only afford for one team to lose to even have any return, as these are 3-leg bets.<\/p>\n Finally, we can place a 4-leg parlay, which is a single bet. For this to win, we need all four bets to be successful. If just one leg loses, the single parlay bet loses.<\/p>\n It\u2019s worth noting that you bet per line with round robin. So, a $10 wager on 6 x By 2 bets, would be $60 in total. If you were betting $10 per line on the By 2\u2019s, By 3\u2019s, and 4-leg parlay in the example above, your total stake would be $110 (6 + 4 + 1) x $10.<\/p>\n Calculating the odds for a round robin bet is complicated. As stated earlier, you can use a betting calculating for this, but having a grasp of the basics is also important. Again, converting to decimal odds makes it a lot easier.<\/p>\n Suppose you want to place a round robin bet on three football teams: Team A, Team B, and Team C. The odds for each team to win their respective games are as follows:<\/p>\n Let’s create the possible two-team parlays: AB, AC, and BC.<\/p>\n BC Parlay:<\/p>\n Now, you can calculate the potential payout for each parlay by multiplying the stake by the decimal odds. Let’s assume you bet $10 on each parlay:<\/p>\n Let\u2019s look at the potential returns for a combination of winners and losers from this bet. What we know at this point is that the total stake across the four bets is $40, this won\u2019t change regardless of the results.<\/p>\n As you can see, certain teams and combinations winning or losing will affect the profit at the end of the bet. There are two scenarios in the example above where teams can lose and we still make a profit, whereas, if Team B were to lose, then we make a loss.<\/p>\n This highlights the skill and betting strategy<\/a> that needs to be used with these bet types to profit long term. They can be great ways to not only maximize profits, but if the wrong team loses, they can be tough on your bottom line.<\/p>\n The process of placing a round robin bet will vary from site to site. In this section, we\u2019ve used the sportsbook BetOnline, which is one of our top-ranked betting sites<\/a>, to highlight how you go about placing a round robin bet.<\/p>\n Round robin betting is not easy. You only have to have the wrong pick lose and it can wipe out profit on all bets. However, there are times when this bet type can yield huge rewards and we\u2019ve included some round robin strategies that will allow you to advantage of that.<\/p>\n We\u2019ve stated multiple times that round robin betting is tough and there are times when you need to avoid these bets altogether. That being said, a successful group of picks can yield huge rewards in a bet format like no other.<\/p>\n Below we\u2019ve listed some advantages and disadvantages of using a round robin bet.<\/p>\n Advantages:<\/strong><\/p>\n Disadvantages:<\/strong><\/p>\n Round robin bets can vary based on the sport you\u2019re betting on. In this section, we\u2019ve included some examples linked to various popular US-based sports.<\/p>\n Here’s an example of an NFL round robin bet to help illustrate how it works. Let’s assume you want to place a round robin bet on NFL games<\/a> with the following three teams and odds:<\/p>\n Kansas City Chiefs vs. Baltimore Ravens (Game 1)<\/strong><\/p>\n Green Bay Packers vs. San Francisco 49ers (Game 2)<\/strong><\/p>\n New England Patriots vs. Buffalo Bills (Game 3)<\/strong><\/p>\n Now, let’s create the possible two-team parlays:<\/p>\n We’re going to bet $10 on each parlay within the round robin. Now, we can calculate the potential payouts for each winning parlay:<\/p>\n Remember, these calculations represent the potential payouts if all the teams in a particular parlay win. If any team loses, the parlay bet is considered a loss.<\/p>\n A key thing to note with this bet is that we\u2019ve included a double result from the same game in the Chiefs and Ravens. This is one of the features of this bet type<\/a> and can help cover exposure within these bets.<\/p>\nSelection of Teams<\/h3>\n
Determining Bet Size<\/h3>\n
Creating Parlays<\/h3>\n
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Placing Bets<\/h3>\n
Calculating Payouts<\/h3>\n
Risk and Reward<\/h3>\n
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<\/a><\/li><\/ul><\/div> <\/div><\/div>Round Robin Betting Example<\/span><\/h2>\n
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<\/p>\nHow to Calculate Round Robin Odds<\/span><\/h2>\n
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How to Place a Round Robin Bet<\/span><\/h2>\n
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Round Robin Betting Strategies<\/span><\/h2>\n
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Advantages and Disadvantages of Round Robin Betting<\/span><\/h2>\n
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Examples of Round Robin Bets with Different Sports<\/span><\/h2>\n
NFL<\/h3>\n
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NBA<\/h3>\n