A round robin in sports betting is a form of parlay betting, in which the sportsbook automatically constructs smaller parlays out of a larger set of bets. Round Robins consist of three plus leg parlay wagers, and they enable you to hedge over combinations of multiple legs of the bets in other bets. Round Robin bets are aimed at preserving the spirit of the parlay but lowering the risk that one parlay must hit in order to win.
Why then would you wish to bet a round robin? They are mostly used by most people to make a group of longshot parlays immediately and grant themselves some upside in the event of a leg missing. However, it can be costly, as the higher number of teams you add the higher the parlay combinations are created, and the higher you must wager.
Round Robins Variations
Other ways of betting on Round Robins include Trixie, Patent, Yankee and Super Yankee. These allow players to make parlays with more legs since they risk diversifying in different ways. Patent, Yankee, Super Yankee contain your original parlay and reward you on hitting the original one and the other combinations.
- Trixie: Four bets on three selections (three-leg parlay and three two-leg parlays)
- Patent: Seven bets with three choices (three one-bet selections, three two-leg parlays and one three-leg parlay).
- Yankee: This is the same as the 2,3,4’s at Caesars by 2, 3,4. It has 11 bets in total, two-leg, three-leg, and full parlay.
- Super Yankee: 26 total bets, you have to have a five-leg parlay. And you will have 10 two-leg parlays, 10 three-leg parlays, five four-leg parlays, and one five-leg parlay.
How Round Robin Works
A round robin is actually a group of smaller parlays formed out of a larger group of bets. It is named after a round-robin tournament, where each participant plays all the members of its group. The concept is whether one group loses there is always a hope of winning on the result of the other groups. All participants create parlays, rather than playing against each other.
Round Robin operates with parlay betting. The attractiveness of Round Robin bets is that, unlike traditional parlays, the bet does not tend to be an all-or-nothing bet. Once you choose several games to bet, your sportsbook will allow you to make a series of smaller parlays consisting of your chosen games. The parlay mixes you can make are the more games you choose.
Pros & Cons of Round Robin Bets
When making Round Robin bets, it is vital to keep in mind that the aim is to divide the risk among several parlays. It is a good move to position one against another in certain instances just in case the underdog may win.
Nevertheless, never forget to research before placing your bets on Round Robin bets, and make informed additions to your parlays. Comparison-shopping: each betting site should offer the best odds and other Round Robin betting options.
Pros
- Minimize the risk with a single parlay bet.
- Multiple betting options
- Diversify risk
- Implement new betting strategies.
Cons
- Requires a larger wager
- Possibly lower payout when the parlay hits all legs.
Round Robin Betting Tips
I understand you are excited and are about to bet round robin. To make a profit, you must have a plan. Fortunately, I feel like giving, and here are some hints which I have gathered during years of round robin betting:
- Limit your bets to 3 or 4 round robins: Round robin bets allow you a good chance of winning and it is possible to hit all of the combinations without having to bet 100 and more.
- Avoid heavy underdogs: This one will decrease your payout potential, your win rate should skyrocket.
- Select the correct odds: It is best to not take too many or too few selections with very large or very small odds but strike a medium level.
- Check Promotions: Promotions are offered on your round robin bets at some sportsbooks. Always review the terms and conditions of using any promotion.
- Track your bets: This is where you make a record of all the round robin bets you have made. This will assist you in making better decisions next time round robins as you will know which bets worked out and which did not.
Also Read: The Things to Know Before Getting Started On Sports Betting
Why Bet A Round Robin?
Round Robin bets are a form of parlay that is relatively easier to hit than a parlay. There can never be any error when it comes to a parlay and one defeat can be the doom of a whole bet whereas with a round robin the loss of one bet does not doom the whole ticket.
Round robins decrease part of that risk since they are not dependent upon hitting all of the picks. They involve a higher investment than in a traditional parlay but less possibility of complete loss. The risk aversion might be bursting to the customers but still the understanding that parlay betting is not the long-run success and round robins are still risky must be achieved.
They may be expensive when the options chosen become numerous depending on the combination of wagers placed. To illustrate, a full cover round robin bet with 5 teams would consist of 26 total combinations, namely: 10 two team parlays, 10 three team parlays, 5 four team parlays and one 5 team parlay.