Many online casinos and sportsbooks like the Bovada, Bodog Canada, and IgnitionCasino sportsbooks support various bets. You can enjoy point spread betting, or you can stick with straight wagers or over/under bets. All of these wagering options can be part of parlays that entail multiple picks in one ticket.
Parlays can pay out more money when they are successful, but they are also risky. The odds of every item winning on the same ticket will be high.
You can stick with a round robin bet if you want to place a parlay wager, but you want something a little more flexible. A round robin bet lets you create multiple parlays at once.
Understanding the Concept
A round robin bet involves picking multiple teams or wagers on one ticket, just like what a parlay entails. But the difference here is that a round robin pick features multiple parlay combinations.
A round robin bet involves picking multiple teams or wagers on one ticket
You must pick at least three items to start a round robin wager. You’ll need at least three to produce multiple parlays.
As you pick your teams, you’ll have multiple options for your bet. You can bet on a specific number of parlays that entail several teams. You could pick six teams and then request a series of two or three-team parlay wagers that cover all the possible combinations from the six items on that ticket.
What Does a Round Robin Bet Cost?
Part of what is a round robin bet to note involves its cost. You will select an amount you will wager for each parlay here. You’ll bet on each possible parlay that appears on the ticket, with the amount you wager being the same for each one.
A sportsbook will list how much you will spend based on how many parlays will appear in that pick. For example, if you were to pick a five-team round robin bet, you would have the option to pick five four-team parlays. You will multiply your wager by five times to see what you will bet on each parlay. A sportsbook will list the total amount you will wager on your round robin pick before you finish your wager, so always double-check to ensure you’re wagering the right amount before you confirm your pick.
A Quick Example
Here’s an example of how a round robin bet works:
- You could place an NFL bet where you pick the Pittsburgh Steelers, New York Giants, Miami Dolphins, and Atlanta Falcons to win their games.
- You will place a $2 bet on all ten possible parlays in your round robin bet. You could also place a $2 bet on only the four three-team parlays or the six two-team parlays available here.
- You will collect your winnings on whatever parlays are successful.
For this example, if the Steelers, Giants, and Dolphins win, but the Falcons lose, you will win on each parlay that entails those three teams. These include the one three-team parlay that doesn’t entail the Falcons and the three successful two-team parlays.
The round robin bet gives you a better chance to win than if you stuck with a straightforward parlay wager
The round robin bet gives you a better chance to win than if you stuck with a straightforward parlay wager. A four-team parlay bet would fail in this example, but you would still win something in your round robin pick. The round robin bet gives you more freedom over how your parlays will work, as you don’t have to get every item to win to earn something.
How Many Parlays?
The number of parlays you will produce and the number of entries in each parlay will vary over how many bets you place. Here are a few examples:
- Three-Team Round Robin: You will have three two-team parlays with a round robin wager. Two of the three items you pick will appear in each parlay.
- Four-Team Round Robin: You can utilize six two-team parlays or four three-team parlays. You could also choose all ten parlays in that round robin bet if you prefer.
- Five-Team Round Robin: This option features up to twenty-five parlays. You can go with ten two-way parlays, ten three-way parlays, or five four-way parlays.
A sportsbook will list the options you have for wagering. You can choose to place a bet on every parlay, or you can stick with a few choices based on how many teams are in each parlay pick.
What Is the Payout?
The payout will vary surrounding the odds for each item on every parlay in your round robin bet. You can calculate the odds for each parlay through a few steps:
- Check the decimal odds on the entries. An online sportsbook like Fox Bet or Bet MGM will let you switch between the American, decimal, and fractional odds formats.
- Multiply the odds for each item on a parlay ticket.
- Multiply the total by 100.
- Subtract 100 to see what you would earn if you were to wager $100 on that parlay.
For example, if the odds of three things on a parlay are 2.15, 2.30, and 1.87, you would multiply them to get 9.24. You can multiply that by 100 to get 924 and then remove 100 to get a final American odds of +824. You’ll win $824 if you wager $100 and succeed.
The payout an online sportsbook will list for your round robin pick will be the maximum amount you’ll earn if all your entries are correct
The payout an online sportsbook will list for your round robin pick will be the maximum amount you’ll earn if all your entries are correct. Check each smaller parlay to see what you would win if one succeeds and another does not.
A Few Final Notes
There are a couple of reminders to consider when getting a round robin bet ready:
- Check the value of your ticket with your sportsbook before finalizing your wager. Make sure the ticket covers the proper teams and parlay types you want to support. A sportsbook should give you a preview showing what you are spending and the maximum amount you could win on your ticket.
- There may be a minimum on how much you can spend on your round robin wager. Check your sportsbook’s rules for details.
- There may be limits on how many items you can add to your wager. You could pick up to eight to ten entries in some cases.
- Not all betting lines will qualify for round robins or parlays. These include point spread betting choices with extremely low odds.
