What is Round Robin Betting?
What is Round Robin Betting?
Round robin betting is not an extremely common betting type made in the sports betting industry, but it is one that is almost always available. This type of bet usually pops up after a bettor has put together a parlay, but most don't take advantage of this option. Round robin betting is a way to break up a larger parlay into a number of smaller bets, which gives the bettor a higher probability of winning that wager. Experienced sports bettors take advantage of this option, but it's something that beginning sports bettors should look at as well.
This guide will help explain what round robin betting is and will also give examples of how this works. Hopefully, after reading this article, it will allow you to give round robin betting a try, and you will win big.
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How Does Round Robin Betting Work?
Most people in the sports betting industry know and understand what a parlay wager is, but a round robin bet is a new concept for a lot of bettors. In some ways, they are extremely similar, and they actually work together in a number of ways. When you go to put together a parlay wager, you are simply adding a bunch of different games to that bet. Most of the time, a parlay wager includes at least three legs, but it can be many more than that.
A round robin bet then takes a number of those different options and breaks up the parlay bet into a number of smaller wagers. The number of round robin bets that can be made is determined by the number of legs in a parlay.
This might seem to be a bit confusing, but it's actually extremely easy to understand once you get the hang of it. This is a great way to bet as long as you understand how a round robin bet works.
Example of a Round Robin
Now that you have a better understanding of how a round robin bet works, it is best to build on that knowledge with an example. For this example, we will use a four-leg parlay using college football teams to break this down.
Here are the four games you are going to include in this parlay example:
- LSU Tigers -6.0 vs. Georgia Bulldogs
- Texas Longhorns -8.5 vs. Oklahoma Sooners
- USC Trojans -3.5 vs. UCLA Bruins
- Michigan Wolverines -10 vs. Michigan State Spartans
Creating a four-team parlay will give you six different round robin betting options as opposed to one much larger wager. These different bets would be:
LSU -6.0
Michigan -10
LSU -6.0
Texas -8.5
LSU -6.0
USC -3.5
Texas -8.5
Michigan -10
Texas -8.5
USC -3.5
Michigan -10
USC -3.5
If you place a $10 wager on all six of these round-robin bets, then you would have $60 in as an investment. Let's say that each wager will net a win of $25. If three of the four teams cover their spread, then you have won $75 while only betting $60. This would make a net win of $15. If you included all of these bets in a $10 parlay and one of the games lost, then you would be down that $10 since it only takes one loss to lose the entire parlay. This is why making a round-robin bet is a great way to hedge your parlay wagers.
Round Robin Calculators
One thing that can help you determine if you want to make a round robin bet or not is a thing called a round robin calculator. All of the top sportsbooks will provide this option, and it is something that you should take advantage of. Round robin calculators were created to save bettors time and also give a quick example of how much money can be won by making this type of bet. Once you build up a parlay, the round robin calculator will automatically spit out all of the possible combinations.
The round robin calculator will also spit out a number of different outcomes, including the max win and the total risk that is included. It is important that you know what all of these figures mean so that you understand what you are getting yourself into. If a round robin calculator is provided for you, then you really need to take advantage of this tool. This is vital information that you need to know and understand before you go any further in making the wager.
Advantage of a Round Robin Bet
The biggest advantage of making a round robin bet is that it is a great way to hedge your parlay bets. Making a parlay bet is extremely risky, and a round robin bet can provide some additional insurance that could save you money in the long run. Another advantage of round robin betting is that it allows you to focus on just two games as opposed to a long list that you're including in a parlay. It's much easier to make a smart decision when you are facing just two bets as opposed to five or more.
There is also a chance to win a lot of money by making a round robin bet, as it doubles your payout by simply making single bets. There are a lot of people that consider round robin bets the best to make in the industry, and there are certainly plenty of advantages to making this type of wager.
Is Round Robin Betting Worth It?
The short answer to this question is that yes, round robin betting is worth it. That doesn't give enough detail, though. There are a number of different factors that will determine just how worth it a round robin bet is for you. If you put in the proper amount of time and research into round robin betting, then you will likely be successful. If you are just randomly making round robin bets, then you will end up losing a ton of money. You have a higher probability of winning a round robin bet over a parlay bet, but the payout is also much lower as well. If you plan on making a round robin bet, then you need to decide what you are trying to get from it.
If you are someone that has never made a round robin bet before, then it would be worth giving this type of betting a try in the near future. It might just end up being a great betting option for you, and you could find plenty of success.
Matthew Davidson
Matthew is a long time fantasy football and dynasty football fan. He lives in Las Vegas and grew up rooting for the Raiders. The team moving to his hometown was very exciting news. Matthews is married and has two young boys.
