We have talked a lot about what a parlay is on the site however if you find yourself searching the following, what is a round robin parlay? round robin meaning or round robin bet then you will probably already be clued into how a standard parlay bet works but want to delve into the parlay world a bit more and learn a more advanced way of parlay betting.
Firstly not all sportsbooks offer the round robin option so you will have to check out your preferred sportsbook to see if they allow you to wager this type of bet. If not then we have a list of sportsbooks below that allow you to place a round robin parlay.
A round robin parlay is a way to bet multiple parlays on one ticket. The best thing about this is that you don’t have to win all the parlays to win your bet. It is a way to create unique combinations with good solid odds.
The payout odds on each parlay are the same odds that you would find on a standard parlay.
How does a Round Robin Parlay work?
There are a couple of things you need to decide when putting together your round robin and they are:
- How many teams and combinations you are going to use
- How much you want to wager on each parlay
Every parlay must have the same wager in your round robin.
A popular round robin is a three-team, two-way bet and this would look something like the below:
Our three teams:
- Team 1 with odds -4.5
- Team 2 with odds +7.5
- Team 3 with odds -7.5
Our betting slip would show:
- Team 1 -3.5 and Team 2 +7.5
- Team 2 +7.5 and Team 3 -7.5
- Team 1 -3.5 and Team 3 -7.5
In this example we will place $10 on each parlay meaning our total wager is $30. The odds in a round robin are the same as a standard parlay bet which is 2.6 to 1. If all three bets come in then it will be $26 per parlay or a total of $78 (minus the vig). If you win two of the parlays but lose one then it would be $26 x 2=$52 minus $10 from the losing parlay (minus the vig). If you only win one of the parlays and lose the other two then the calculation would be $26 minus $20 = $6 profit (minus the vig). If you lose all three parlays in your round robin then you would be $30 out of pocket.
Different sportsbooks can have different rules however there are some general consistencies when it comes to minimum and maximum teams and combinations:
- Teams – Minimum of 3, Maximum of 8.
- Combinations – Minimum 2, Maximum usually around 6.
- You cannot mix teams in the same game
Are Round Robin Bets Good?
Now we have discussed the rules and how much you can win or lose on a round robin parlay ticket you can see that the wager is higher than that of a standard parlay bet however your chances of winning become increased. In the above example even if we only won one of our three parlays, we still made a profit. On a standard parlay ticket if we lose one bet then we lose them all.
We recommend that you research the teams you want to wager on your round robin and only place teams in your bet that you feel are strong. Any dogs will massively increase your odds however could throw a curve ball into the mix which could lose you multiple parlays.
We love parlay betting because it gives us the excitement of watching multiple games play out and the chance of winning more than on a single wager with little cash risk however we do recommend using the round robin as a way to place smarter parlay bets.
Good luck with your parlay betting!
Check out our parlay calculator page and look out for our free picks.