If you’re put off by the fact that all legs need to hit to win a parlay, then round robin betting might be the perfect alternative. This little-known betting strategy is slightly complex, but after reading my quick guide, where I reveal my secret tips, you’ll be on the fast track to picking winners!
What Is Round Robin Betting?
With round robin betting, you combine parlays into a single wager. You bet on multiple combinations of the wagers that made up your original parlay, similar to box bets in horse racing.
For example, let’s say you create a 3-leg parlay on your favorite sportsbook where you bet on the Miami Heat, Los Angeles Lakers and Denver Nuggets to win. With a round robin bet, you also create separate parlays where you wager on the Heat and Lakers to win, the Heat and Nuggets to win and the Lakers and Nuggets to win.
With a standard parlay, if any of your teams fail to get the W, your bet loses. However, with a round robin wager, you can still win if a team is defeated. For example, in the above scenario, if the Heat lost, you’d still win your Lakers and Nuggets parlay.
Round Robin Strategy Example
Round robin betting involves making a standard parlay and then wagering on all possible combinations that are featured in your betting slip. Here’s what a three leg round robin bet looks like:
- Minnesota Lynx (match winner -1.196), Connecticut Sun (match winner – 1.194), Indiana Fever (match winner +4.2)
- Lynx and Sun
- Lynx and Fever
- Sun and Fever
If you placed a $100 bet on each combination, your total risk would be $400, and your winnings would be $1,346.64. In contrast, if you’d made just a 3-leg parlay bet, you’d risk $100 and potentially win $500.
So if you get better odds with a 3-leg parlay, what’s the point of round robin betting? Well, the issue with a typical parlay wager is that if any of your bets lose, your entire parlay is toast. But with round robin betting, one of your selections can come unstuck, and you’ll still win some of your bets.
Why not use our round robin calculator to work out your bets? It’s free to use, quick and easy.
Demystifying Round Robin Betting Odds & Payouts
Fortunately, the bookmaker will do this for you instantly. When you create your round robin bet, you’ll see the total odds and payout. However, if you want to know the numbers behind this style of wagering, I’ll be your maths tutor.
To figure out your odds with a 3-leg round robin bet, convert the odds to decimal. You then go through every combination and multiply the odds by each other. To determine your payout, multiply your stake by the combined odds. This example should make things clearer where we risk $100 on each combo:
- Switzerland (3.43), Belgium (4.8) and Slovakia (10.1) to win – 3.43*4.8*10.1 = 166.3, 166.3 x 100 = $16,630
- Switzerland (3.43) and Belgium (4.8) – 3.43*4.8* = 16.46, 16.46 x 100 = $1,646
- Switzerland (3.43) and Slovakia (10.1) – 3.43*10.1 = 34.64, 34.64 x 100 = $3,464
- Belgium (4.8) and Slovakia (10.1) – 4.8*10.1 = 48.48, 48.48 x 100 = $4,848
Here are different scenarios based on how the teams perform:
- If all teams win, your profit is $26,188 ( $26,588 – $400 stake)
- If Belgium loses but the other teams win, your profit is $3,064
- If Switzerland loses but the other teams win, your profit is $4,448
- If Slovakia loses but the other teams win, your profit is $1,246
How do you Make a Round Robin Bet?
The top US sportsbooks will typically have software in place that allows bettors to save time and effort by automatically creating round robin bets.
All you need to do is select which lines you want to include, click the ’round robin’ option, choose how many different ways to parlay (which is the number of legs within the parlay) and your stake. The sportsbook will then generate all of the options you need to construct your round robin based on the criteria you have chosen.
If you are creating a round robin with only three lines, things are simple. However, the more lines you choose, for example if you create a round robin with eight different lines on a five-event parlay, that would equate to creating 56 different parlay wagers.
Clearly, this can become tiresome quickly. If you are constantly putting together loads of combinations, you are more likely to make a mistake. Top of the range betting software used by sportsbooks removes that hassle that comes with creating complicated and large round robin bets.
The general rule is most sports betting sites allow players to include between three and eight teams within a round robin wager. However, some sites will allow you to go even further and include up to eight lines in their round robin bets. Once you have created your round robin bet, the below explains how you go about placing it.
Round Robin Betting Tips – Strategies I Use to Win!
I know you’re fired up and ready to make a round robin bet, but hold your horses. If you’re going to turn a profit, you need a strategy. Lucky for you, I’m feeling generous, here are a few tricks I’ve picked up over the years of round robin betting:
- Stick to 3 or 4 leg round robin bets – Don’t get sucked into chasing higher and higher odds. As the odds take off into the stratosphere, so does your chance of winning. A 3 or 4-leg round robin gives you a solid shot at winning and allows you to cover all combinations without placing 100+ bets.
- Bet on all combinations – I know it can get expensive, but the last thing you want to do is cover only half the options and whiff on all bets. You can always reduce your stake so the round robin bet won’t soak up too much of your bankroll.
- Avoid heavy underdogs – I prefer constructing round robin bets exclusively with strong favourites. While this strategy reduces your payout potential, it should cause your win rate to skyrocket.
- Stick to popular markets – Bookies print money when you make exotic props. Don’t give your money away so easily and focus and fill your round robin bet with handicap, totals and match winner wagers.
- Choose the right odds – Try to avoid choosing too many selections with really high or really low odds and find a balance with moderate odds. Although upsets regularly happen in sports, huge longshots rarely come in.
- Check promotions – Some sportsbooks offer promotions that can be used on your round robin bets. For example, they may offer a $10 free bet on an accumulator bet and this can be added onto your round robin wager. Make sure you check the terms and conditions before using any promotion.
- Monitor your bets – If you can, keep a record of all of the round robin bets you have placed, the winning and the losing ones. This will help you make more informed decisions on future round robins, knowing which bets worked and which didn’t.
Should You Bet Round Robins? Pros & Cons Explored!
The obvious benefit of round robin betting is that it gives you additional ways to win. It’s also a much less risky strategy than parlay betting, as not all of your legs need to hit.
Round robin bets are easy to construct as bookies have a special feature that you toggle on. You don’t have to individually add all the different combinations to your bet slip. Another thing I really like is the potential for higher payouts compared to your typical single wagers.
Unfortunately, there are some drawbacks. Round robin betting can require a lot of capital. For example, if you want to make a round robin wager with 5 legs and bet $100 on every combination, it’ll set you back $2,600!
Also, while a round robin bet does offer better odds than a single wager, it still won’t pay as much as an parlay.
Pros:
- More ways to win than parlays
- Less risky than parlays
- Higher win potential than single wagers
- Easy to build thanks to the automated bet slip feature
Cons:
- Requires a big bankroll to bet on all combinations
- Smaller potential payouts compared to parlays
Step By Step Guide To Placing a Round Robin Bet
Hopefully, by now, you have a solid understanding of round robin betting and know all the benefits. Now it’s time to actually create it, so follow the steps below:
- Add three or more single wagers to your bet slip, e.g., Liverpool, Man City, Arsenal and Chelsea to win
- Toggle on Create Round Robin
- Select the number of types of combinations you want to bet on, e.g., 2s to 4s (11 bets total)
- Enter your stake, e.g., $100
- Double-check your selections, odds and your potential payout
- Hit the Place Bet button
As you can see, placing a round robin bet is virtually identical to making an parlay wager.
Final Thoughts on Round Robin Betting
If I had to sum up round robin betting in a few words, it would be a lower-risk form of parlay betting but still with the chance to win big. While this strategy isn’t always appropriate, it provides a happy medium between parlays and single wagers. Use my round robin betting tips above to place your first wager and let me know the result, remember to start with only three or four legs!
