Are round robin bets worth it? This betting system can be worth it when sports betting because it can increase the rewards while reducing the risk. However, you should note that you may need to increase your stakes to see a worthwhile reward with round robin bets. This article, therefore, discusses round robin bets in detail, explaining how they work and whether you should consider them during sports betting.
Understanding a Round Robin Bet
If you are unfamiliar with this betting system, you can think of it as one similar to a parlay bet. Therefore, it allows you to make combinations of the winners of more than one match. The minimum number of bets or combinations you must make is 3. The best way to explain this betting system is through a round robin bet example.
How Does a Round Robin Bet Work? Example
Let’s say there are three NFL matches between the following teams.
- New York Giants vs. Pittsburgh Steelers
- Seattle Seahawks vs. Dallas Cowboys
- Chicago Bears vs. Miami Dolphins
Now, you have the option to make combinations of parlays based on the winners of two matches.
So, you’re not following the typical format of combining the winners in a regular parlay bet. For example, with a parlay bet, you may choose to make a single bet of three teams (all of whom are the winners). In that case, you may choose the New York Giants, Dallas Cowboys, and Miami Dolphins. However, with a round robin bet, you can create mini-parlays, which are smaller combinations of only 2 teams.
Using the example above, we can create 3 different combinations.
New York Giants and Dallas Cowboys
Dallas Cowboys and Miami Dolphins
New York Giants and Miami Dolphins
Therefore, you have only 3 combinations when you stick with 3 matches to combine. The combinations, in that case, are picking the winners of:
- Match 1 and match 2 (parlay 1)
- Match 2 and match 3 (parlay 2)
- Match 1 and match 3 (parlay 3)
The combinations for round robin bets can increase as you increase the number of combinations. When you reach 4 combinations, you can also create parlays of 3 teams instead of 2. We’ve created a list of the round robin all combinations (to a max of 5 combinations).
|Number of Teams from Different Matches||Number of Teams in Each Parlay||Total Number of Bet Combinations (Legs)|
How Do Round Robin Payouts Work?
The payouts on a round robin bet follow the odds within each leg or parlay of your betting combinations. If you use the example above of the 3 2-team parlays, we can get the following.
Parlay 1: New York Giants and Dallas Cowboys
Parlay 2: Dallas Cowboys and Miami Dolphins
Parlay 3: New York Giants and Miami Dolphins
If the standard odds for every parlay and team are set at -110, then you would get a payout of +264 for a bet of $1000.
How to Get the Best from a Round Robin Bet
A good round robin betting strategy is to bring some variance in your betting combinations. So, consider betting on some underdogs and some favorites. This way, you’ll have a range of different teams that increase your hits and help you make some money based on the odds of the individual matches.
Another good idea is to stick to making bets on less competitive games. Betting on matches or sports that are not as competitive can help you familiarize yourself with these bets without risking too much. More bettors can increase the stakes and the losses.
Questions and Answers about Round Robin Bets
In case you still want to learn more about round robin bets, we have provided answers to some common questions about round robin bets. This way, you can be sure that you’re making an informed decision when considering this type of betting system.
Why is round robin the best?
A round robin bet is not the best betting system out there because you still need to put in high stakes to get any significant returns. However, it is less risky than a typical parlay bet. So, in that regard, it can be a better option for betters who don’t want to risk it all.
Is a round robin bet the same as a parlay bet?
One of the most significant differences between a parlay bet and a round robin bet is that all of the combinations don’t have to cover for the latter. That means that you don’t need to win every mini-parlay (leg) to take home some returns. You’ll get the returns on the parlays you won and have to give up your money on the ones you lost. With parlay bets, you must win all bets to get your returns. Thus, the risk is more significant with such bets, but the rewards can be worth it.
What sports offer round robin bets?
Various sports offer round robin betting, such as NFL games, MLB, Soccer, and the NBA.
So, our answer to the question, “are round robin bets worth it?” is that they can be. That will solely depend on whether you want to combine your bets in the first place. You do not have to choose to parlay bets to get good returns. In addition, this form of betting can be rather complex for new bettors, so it may be a better option to choose other options. If you must choose round robin bets, then it’s best to consider those that have only 3 2-team combinations for extra simplicity.