Essentials of Round Robin Betting
Round robin bets serve as an effective risk management strategy in sports betting, offering the possibility of substantial payouts while mitigating potential losses. Unlike traditional betting, round robin betting involves placing multiple parlay bets simultaneously. This term is derived from round robin tournaments where each competitor plays against every other.
In essence, if you’re considering multiple betting lines—whether they’re moneyline, spread, or totals—you have two strategic options:
- Construct a single large parlay linking all events together, where the success of the parlay hinges on each event.
- Create several smaller parlays covering all possible event combinations. This second method defines round robin betting.
To set up a round robin bet, you must include at least three parlays, but there’s no upper limit, allowing you to adjust based on your betting preferences and the desired size of each parlay.
Advantages of Round Robin Betting
Round robin betting is especially useful as a hedging mechanism. It allows for reduced risk without significantly compromising potential gains. Although the payouts for round robin bets are generally lower than a single large parlay, they offer greater security. Even if one event does not go as predicted, it doesn’t spell the end for your entire bet.
This method acts as a safety net, providing the lucrative potential of parlays with added security.
How to Set Up a Round Robin Bet
Constructing a round robin bet involves creating at least three separate parlays, each incorporating different combinations of at least three betting lines. Let’s consider a practical example:
- Brooklyn Nets +7.5 (-110)
- Dallas Cowboys -3.5 (-110)
- New York Rangers +1.5 (-110)
In a traditional parlay, all three teams would need to cover the spread for a win. Round robin betting, however, allows for flexibility—you could make three two-team parlays, thus maintaining profitability even if one leg fails.
Round Robin Bets in Action
Imagine you place a round robin bet with the aforementioned events. Here’s how it could play out:
- Parlay #1: Brooklyn Nets and Dallas Cowboys. If the Rangers don’t cover, this parlay could still succeed.
- Parlay #2: Dallas Cowboys and New York Rangers. If the Nets fail to cover, this parlay could win.
- Parlay #3: Brooklyn Nets and New York Rangers. If the Cowboys don’t cover, this parlay could still yield returns.
Each parlay in a round robin bet functions independently, enhancing your chances of winning one or more bets.
What Do Round Robin Bet Payouts Look Like?
Let’s use our earlier example for a payout calculation. Suppose you bet $5 on each of the three two-team parlays at odds of -110, typical for such bets, offering a payout of +260. If all teams cover, your total profit would be $39, plus the return of the initial stakes, totaling $54. If one event fails, you could still gain $8, ensuring you break even or better with just one successful parlay.
Setting Up Round Robin Bets
Many top sports betting platforms feature tools to automatically generate round robin bets. You simply select the desired lines, specify the “round robin” option, choose the number of legs and your stake, and the system handles the rest.
Navigating the ‘Number of Ways’ Option
When selecting your parlay size or “number of ways,” the system automatically calculates the possible combinations based on the number of lines you’ve chosen. For instance, with four lines, you could set up six different two-event parlays.
Conclusion: Why Round Robin Betting is Worth Considering
Round robin betting is an excellent choice for those seeking the high rewards of parlays but with less risk. This strategy maximizes your return on investment by minimizing risks, making it an intelligent approach to sports betting.
