Round Robin Bet Explained
How to Place A Round Robin Bet?
As explained above, you can have any number of teams and any number of teams per parlay depending on your preference and the investment you can make along with the risk you want to take. Picking three teams and making two-team parlays is a pretty common way to go here.
Round Robin Bet Example
The simplest way to understand a round robin bet is looking at an example of picking three teams and creating three two-team parlays. Suppose, there are three matches in one day with six teams or players taking part in them. For instance, Team A is taking on Team D, Team B is taking on Team E and Team C is taking on Team F. In this case, you can create three separate two-team parlays. And now, you want to place bets on Teams A, B and C winning but in parlays with the following odds:
- Team A: -7.5 vs Team D
- Team B: -6 vs Team E
- Team C: +4 vs Team F
Now, you decide to bet $10 for each parlay which makes it a total investment and risk of $30. The following table shows the three two-team parlays and the risk/investment you put in and the return you get from each parlay.
|Team B: -6 & Team A: -7.5||$10||$26|
|Team B: -6 & Team C +4||$10||$26|
|Team C: +4 & Team A: -7.5||$10||$26|
So, if all three teams (Team A, B and C) win, then your total profit will turn out to be $26 * 3 which is $78. That is 2.6 times your initial investment. However, if only two teams win (either A & B or B & C or A & C), then you will lose $20 but gain $26 which makes your total profit $6 in this round robin bet. However, if all three lose then you will lose your $30 staked.
Pros and Cons of Round Robin Bets
When you place a straight bet, there are just two outcomes, either you win the bet and your stake along with your winnings or you lose the bet along with all your stake. However, when it comes to round robin bets, there are multiple outcomes that diversify the possible options of winning and losing. You lose your entire stake or investment only when all teams or players you chose loose. Thus, your chances of winning are different with each parlay. The more the parlays, the more your chances of making a profit out of it.
One disadvantage may be that as you increase your parlays and round robin bets, you are bound to increase your investment amount. However, a series of small bets with smaller investments could work out pretty well.
Is a Round Robin a Good Bet?What Is a Round Robin Bet?
Before understanding what round robin bets are, it’s vital to know what parlay bets are. Parlay bets are essentially a series of straight bets which are combined together in groups to create a bigger return. However, the important thing here is that you need to win every bet in that particular parlay (series of bets) in order to gain a profit.
Now, round robin bets provide a relatively easy option to wager multiple parlays and all of this with a single bet. It basically allows you to construct a sequence of small parlays from a group of teams or players. The round robin bet gets its name from the round robin tournament format where each team or player faces every other team or player in a competition. Thus, in round robin betting you choose a set of parlays and each parlay works out as a straight simple bet. Round robin betting is common when a bettor is looking to invest in multiple games.
How Does a Round Robin Bet Work?
In a round robin bet, there are multiple parlays that are involved. There will be multiple teams participating. In one parlay, you could have two or more teams and you can have any number of teams per parlay. Thus, according to the total number of teams you pick and the number of teams per parlay you want, the total number of bets is decided. For instance, if you choose three teams to bet on and two as the number of teams per parlay, then there are three bets that you will be investing in. If the total number of teams is increased to four and the number of teams per parlay remains two, then you have a total of six bets and so on. Thus, the more teams, the more the number of teams per parlay, the greater the number of bets you are involved in and in the end, the greater your chances to make a profit.
|Number of Teams Picked||Teams Per Parlay||Total Bets|
It is tough for beginners to get their way around round robin bets. It is slightly complicated and it is better to gain some experience in other types of bets before jumping into the round robin form of betting. However, when invested in, round robin bets offer a chance of gaining a big profit for a small investment and it is a good way of minimising your losses. However, it is not often the most common betting option that people take. You can choose any number of teams per parlay and the total number of teams picked. According to that, there is a total number of bets that are invested in.