In the gambling field, there are a lot of bets that a player can place. Among them is the round robin bet.
But, what is a round robin bet? The round-robin bet is a teaser or parlays having three or more games. You get to bet several smaller combinations that involve your selections. This avoids heaping them into one must-win-it-all bet. Instead, the parlay ties many bets together.
The idea is that every bet in the parlay that wins rolls over the winnings to the next leg. So, a round robin permits you to play many parlays from a group of selected games.
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How Does a Round Robin Bet Work?
From its basic understanding, the Round Robin Bet is a sequence of smaller parlays made from a larger bet list. But how does a round robin bet work? First, a round robin derived its name from the round robin tournament. Here, each team competes against every team in its group.
In a such bet, the teams form parlays together. Once you make your game selections, the sportsbook suggests options for smaller parlays. The game selections make up your smaller parlays.
As your bet games increase in number, so do the parlay combinations you can create. Of course, different books uniquely display their round robin. But, the principle behind them remains the same. The books include Bovada and BetUS, among many others.
For example, the book generates three two-team parlays if you select three teams. Five teams can generate one five-team parlay and ten two-team parlays, and many more.
Thus, the numbers of possible round robins are endless with an increasing number of teams.
How Do You Win a Round Robin Bet?
Winning such a bet is simple to comprehend. To win, each leg of your bet must hit. That means that all the teams you selected for a this type of bet must win.
Also, winnings from such bet are often higher than single parlays. For instance, let’s say you chose three teams in your round robin. A three-team round robin will bring higher returns than a three-team parlay.
A round robin’s higher reward comes with a higher risk.
How Do You Place a Round Robin Bet?
Placing a round robin bet is not a complex affair. All you have to do is select the games you need as part of the wager. These games will populate on a bet slip on your sportsbook. You should then find the option of selecting a round robin.
Once in, you will fill your stake. The stake applies to each of the multiple bets that constitute the round robin. You should see the total stake as well as your potential return.
Round robins are easy to place once you have a solid idea of them. Making use of sports betting models also gives you a better chance of accurately predicting the outcome other than using a bookmaker.
The “Number of Ways” Option in Round Robins
It can be confusing when selecting the “number of ways.” For example, if you choose only three lines, it is impossible to have a parlay size over two lines.
But, suppose you choose four lines; you could create a three- or two-event parlay. With four lines with a two-event parlay, you will have six total combinations you can make.
What Popular Sports Are Available for Round Robin Bets?
Round robin bets are common in many renowned sports. Most importantly, it is popular in the NFL. Yet, it is additionally common in all major sports such as MLB, NBA, and NHL. Soccer is also available for round robins. This is so, especially in major leagues like the Premier League.
What Pros and Cons Do Round Robin Bets Have?
Like most betting options, round robins come with pros and cons. Here are some of these.
Round robins are a unique bet due to their advantages over other betting styles. For example, you can win it for multiple bets even when one team loses. But, for standard parlays, one loss of a team makes you lose the bet.
These bets need more significant investments compared to traditional parlays. It is helpful since the higher investment translates to increased potential profit. It also reduces the odds of a total loss.
Round robins present the chance to hedge and reduce losses. Hedging entails the selection of the other side of your wager. While it reduces the potential over profit, hedging can also mitigate losses. If you do it right, you can guarantee yourself a good profit.
Round robins can have up to ten teams. Depending on your needs, you can develop more than two teams per leg.
Round robins offer better payouts compared to standard parlays. For instance, you may place a one-hundred-dollar bet on a three-team parlay wager. It may net you approximately six hundred dollars. A one-hundred wager on a three-team bet needs a three-hundred dollar investment. But, the payment can reach one thousand one hundred dollars.
Round robins also have their drawbacks when it comes to betting. First, they are costly compared to regular parlays. For example, suppose you invest ten dollars on a six-team round robin and use a three and two-team parlay. It gives you thirty-five parlays that cost a hundred and seventy-five dollars.
What Are Some of the Round Robin Nicknames?
Many sportsbooks list round robins using their nicknames. These nicknames often come from horse racing. Below are some of the popular nicknames.
A Trixie is a consisting of four total bets. It has three two-team parlays and one three-team parlay. DraftKings lists this with ‘4X’ to signify you are placing four bets.
A Patent is like a Trixie, but you get three bets as one wager. So it lists ‘7X’ because it has seven bets.
Round robin bets are a great deal, especially for those who do not mind investing hard. It can be confusing and complicated, but it gives you a chance to win big. All it takes is a keen mind, a fat wallet, and the best online betting site and you could smile all your way to the bank. Thanks to its reduced chance of winning nothing.