Round Robin in Sports Betting Definition Examples How To

Introduction

Round Robin betting is the go-to way to cover more outcomes with less risk. It gives you multiple chances to win when you bet the same amount.

Here, we’ll break down what Round Robin betting is and how it works. Plus, we’ll show examples of how it’s used. Ready to learn? Let’s get started!

Definition of Round Robin Betting

Round robin betting is a way to bet on sports without needing to make many separate bets. It’s named after ’round robin tournaments’ where each team or individual plays each other. Instead of making many bets, this type of bet allows you to combine multiple teams into one wager.

Round robins come in two varieties: joint and series. Joint round robin bets involve pairing three or more teams into two-team parlays. Series round robin bets have all combinations of three or more teams as part of a connected parlay chain. Joint RRs usually have higher payouts as they protect against multiple teams losing at the same time. They’re great for small stakes and high returns if nearly all selections win!

Examples of Round Robin Betting

Round robin betting is a type of wager in sports betting, where all combos from 3+ selections are put into parlays. It is a simple and efficient way to bet on multiple teams with one wager.

For example, betting on Teams A, B, and C would mean making two-team parlays – A & B, B & C, and A & C. The payout you get if you win each one will be the same as a three-team parlay. Your stake for each two-team parlay depends on the money you put down for the original round robin bet.

Remember, when round robin betting, you cannot make new two-team combinations with more than three selections, without including another team’s selection in the same combo.

Round robin betting also allows players to wager on multiple sports at once, creating configurations of NFL football spreads or point totals (e.g. Patriots -7; Under 45), and money line ranges (e.g. Cowboys +120; Dolphins +100). This diversity lets players use underdogs via pointspreads plus favorites by price. Each stake can be customized for predetermined minimum/maximum payout limits and individual risk/reward profiles. This keeps overhead costs low, while maximizing potential returns.

How to Place a Round Robin Bet

A round robin bet is a wager that includes three or more teams/outcomes. It gives the bettor the opportunity to use their expertise and make more winnings. This bet is very popular in sports betting and can be difficult to place.

How do you place a round robin bet? And what is it? Let’s look into it further.

Calculate the Total Cost of the Bet

The cost of your Round Robin wager depends on the number of legs and the type of bet in each one. To calculate cost, multiply the amount you’re wagering for each leg by the number of legs. For instance, 8 legs at $10 per bet equals a total cost of $80.

Bear in mind, this type of bet is potentially lucrative, but carries high financial risk. So, be careful and practice responsible gaming.

Once you’ve calculated the cost and chosen which teams/players to include, click “Place Bet” to submit and complete your wager!

Decide How Many Selections to Include

You must choose how many selections you want to include in a round robin bet. Three to eight is possible, though bookmakers usually limit it to four or six. For example, three selections would be like three separate straight wager parlays.

Once you have decided on the number of teams, games or horses, construct your round robin. This means making different combinations of the selections into parlays. For example, four teams playing on one day would make six two-team parlays (AB AB AC AF BC BD CD). On an online bookmaker, all combinations are listed as separate bets and you can stake individual amounts. Payout depends on how many bets win out of the possible combinations.

Choose the Wager Types

Choosing wagers for a Round Robin bet is the first step. Each game must have a minimum of three selections. Depends on the event and sportsbook, the wagers can vary. Common sports betting lines to be included in parlay:

Moneylines: Pick winner or draw.
Point Spreads: Handicap underdog by giving them points, favorites lose points.
Totals: Over/Under lines.
Futures: Bet on events many months in advance.

Always adhere to bankroll management. Take surefire opportunities and set limits. Self-control when gambling online.

Place Your Bet

Ready to place a Round Robin Bet? Most sportsbooks offer multiple wagering options. You can do it at a high street bookie or use an online betting website. It’s easy!

Pick the teams and events you want to cover – like Team A vs Team B, Team A vs Team C, and Team B vs Team C.
Decide how much to wager.
Review and accept the ticket, then submit payment for it.
Your winnings are credited automatically according to pre-set odds.

Done? Check out our other sports betting terms and definitions!

Advantages and Disadvantages

The round robin approach to sports betting offers pros and cons. On the plus side, you can back many sports. That way, you’ll never miss a chance to make money! But, it can be tough to keep track of different bets. Plus, you might pay more for a round robin bet than a single one. So, let’s look closer at the advantages and disadvantages of round robin betting.

Advantages:
- You can back many sports.
- Never miss a chance to make money.
Disadvantages:
- Tough to keep track of different bets.
- Might pay more for a round robin bet than a single one.

Advantages of Round Robin Betting

Round Robin betting is alluring to many customers. It reduces the chances of loss by spreading out the wagers. It lets customers increase winnings by placing multiple bets in larger amounts. It could also be used as a hedge against another bet made on an opposing side.

The main advantage of Round Robin betting is that it spreads out the risks. This minimizes the chance of significant losses from one outcome. It can be used strategically to hedge against opposing sides with equal chances of success. It increases the total bet amount and the possibility for more wins. And, it requires less capital upfront than multiple single or double bets.

Moreover, Round Robin betting offers flexibility compared to other wagering options. This could include various combinations of parlays, teasers, and either-or bets.

Disadvantages of Round Robin Betting

Round robin betting can be risky. It involves multiple bets – usually 3 or up to 8. This means you need more money to cover all the bets. Plus, the odds may not be great. This type of bet could leave you worse off compared to other wagers. There are no guarantees of a profit. So, it’s important to think about this strategy before deciding if it’s right for you:

Do you have enough money to cover all the bets?
Are the odds good?
What are the chances of a profit?

Conclusion

To summarize, Round Robin betting is a great way to mix up your sports betting. By mixing multiple parlay bets, you spread out the risk and lower the chance of losing a lot. You could lose the whole Round Robin bet if one leg fails, but chances are in your favor when betting multiple legs. Some sportsbooks offer 2-teamers and 3-teamers with higher payouts. Before placing any bets, check with your bookmaker for exact payouts.

Frequently Asked Questions

Play

Q1: What is round robin in sports betting?

A1: Round robin in sports betting is a type of wager that involves making multiple parlays with a set of teams. It involves making all possible two-team parlays with the teams you have chosen, and then combining them into one wager.

Q2: What are some examples of round robin sports betting?

A2: An example of a round robin bet would be if you chose three teams to bet on: Team A, Team B, and Team C. You would then make three different two-team parlays, one with Team A and Team B, one with Team A and Team C, and one with Team B and Team C. All of these parlays would then be combined into one wager.

Q3: How do I play round robin in sports betting?

A3: To play round robin in sports betting, you first have to choose the teams you want to bet on, then make all possible two-team parlays with those teams. You then combine all of those parlays into one wager. If any of your parlays wins, you will receive a payout.