Are Round Robin Bets Worth It?
Round robin parlays offer an enhanced top payout and improved opportunities to mitigate losses, but they aren’t always the best choice. Here’s a comparison:
- A $100 bet on a traditional three-team point spread parlay might yield about $600 in winnings.
- The same $100 wagered on a three-team round robin translates to a $300 total bet cost, potentially bringing nearly $1,100 in payouts.
In terms of straightforward value, a traditional parlay offers more bang for your buck. However, the round robin bet spreads risk and can increase potential returns, albeit at a higher total bet cost.
How to Win with Round Robin Bets
Winning a round robin bet requires each leg of the wager to succeed, much like any parlay. Here’s what the payouts might look like with successful picks:
- Three-team parlay: $100 bet at BetMGM with -110 odds could net $596 in profit.
- Three-team round robin: Each $100 leg (totaling $300) could bring in $992 in profit.
While the profit potential of a round robin is higher, the risk is also amplified due to the increased stake.
Placing a Round Robin Bet
Round robin bets are available at most legal sports betting sites. It’s essential to use reputable online sportsbooks, such as those reviewed on Bookies.com, which only features sites fully licensed in U.S. states where sports betting is legalized. These reviews ensure that all betting services are legally compliant and that all payment methods are secure.
To place a round robin bet:
- Select the desired bets to include in the wager.
- These selections will appear on the sportsbook’s bet slip.
- Choose the “round robin” option and enter the stake amount, which applies to each leg of the round robin.
- The total stake and potential return will then be displayed on your bet slip.
Round Robin Betting Strategies
Round robin bets can be a savvy choice if you identify multiple appealing bets. Unlike regular parlays, where one missed pick results in a loss, a round robin can still yield a profit even if one bet fails:
- With a four-team round robin, if three teams cover, you can still end the bet profitably.
- Investing in round robins generally involves a higher stake than traditional parlays, but this can lead to greater potential profits and reduced risk of total loss.
- Hedging, or betting on the opposite outcome of one or more legs in the round robin, can further minimize losses and potentially ensure a profit.
Investment Scale in Round Robin Bets
Including up to 10 teams in a round robin increases the number of bets dramatically, hence boosting the initial investment. It’s advisable to limit each leg of the round robin to two teams to manage risk and potential payout more effectively.
- A 2-1 outcome in a traditional parlay means losing the entire $100 bet.
- A 2-1 outcome in a round robin might result in a payout of $528 on a $300 investment—still a profitable scenario.
- Conversely, a 1-2 day in a round robin could lead to a payout of $264, which means a slight loss of $36, less severe than losing a $100 parlay.
Round Robin Bet Sizes and Their Implications
Here’s where understanding the structure of round robin bets becomes crucial. The more teams you include, the higher the number of bets you need to manage:
Round robin bets offer a nuanced approach to sports betting, balancing between higher risk and potentially greater rewards. Whether they are worth the investment depends largely on your betting strategy and risk tolerance.
Round Robin Bets FAQs
What is a Round Robin Bet?
A round robin bet is essentially a series of parlays derived from various combinations within a selected group of teams. For example, a 3-team moneyline round robin bet involving the Giants, Jets, and Patriots means multiple winning possibilities since any combination of these teams could win, not necessarily all together.
How are Round Robin Bets Different from Parlays?
Round robin bets differ from traditional parlays in that they don’t require all selections to win to yield a profit. In a standard parlay, every game or pick must be successful for the bet to pay out. In contrast, round robin bets can still be profitable even if one or more of the included picks lose, as they are composed of multiple smaller parlays.
What are the Most Popular Sports for Round Robin Bets?
Round robin bets are popular across various team sports but are particularly favored in the NFL. They are also commonly placed on NBA, MLB, NHL games, and major soccer leagues like the Premier League and MLS, providing a versatile betting format for fans of different sports.
How Many Teams Can Be Included in a Round Robin Bet?
You can include between three and ten teams in a round robin bet. The number of teams dictates the complexity and the number of different parlay combinations possible within the bet.
What is an Each Way Round Robin?
An each way round robin bet is primarily used in horse racing. It involves betting on a horse to win and to place in another specified position across multiple races. This type of bet essentially doubles the stake because it covers two outcomes per horse but can also double the potential to earn a profit. Each way round robins typically involve three to eight races.
Do Round Robins Have Nicknames?
Yes, round robin bets can go by various nicknames depending on the betting format and the site. Some common variations include:
- Trixie: Includes three two-team parlays and one three-team parlay.
- Yankee: Consists of 11 bets involving four selections in different events.
- Canadian (also known as a Super Yankee): Involves five teams and 26 betting options.
- Heinz: Comprises 57 bets across six selections.
- Super Heinz: Contains 120 bets involving seven selections.
- Lucky 15, Lucky 31, and Lucky 63: These are other variations that include all possible multiples (singles, doubles, triples, etc.) for four, five, or six teams respectively.
Each variation is designed to cater to different betting strategies and risk tolerances, providing numerous ways to hedge bets and potentially secure profits.
