What is a Round Robin in Sports Betting?
A round robin sports bet is a type of bet that involves placing a set of multiple parlay bets. To clarify, a parlay is a type of bet that combines numerous individual bets or props, resulting in multiplied odds and payouts. An example would be betting on the NFL, Giants to beat the Commanders and the Jets to beat the Vikings. If any leg of your parlay fails, you lose the bet. However, if they all succeed, you win a much larger payout.
On the other hand, round robin bets are a lower-stake, lower-reward type of bet that allows you to select multiple parlays. The critical difference is that in a round robin, not all legs have to hit for you to win. The more you get right, the more you win. This means you can still receive a payout for being partially correct.
How Does a Round Robin Bet Work?
In Round Robin bets, the multiple parlays you select are often automatically created into round robins by the sportsbook. If you begin making a bet for a parlay of the Giants and Jets winning and then add a parlay for the Knicks and Nets to win, it will create a Round Robin with those two parlays.
You must successfully hit both parlays to win the max payout, with all four teams winning. If one of the parlays hits, such as the Giants and Jets winning, but the other fails because one or both teams lose, you win a smaller payout. If both parlays fail, you will win nothing.
It’s important to note that if the Giants and Knicks won, but the Jets and Nets lost, you would lose the Round Robin since you need to win one of the full parlay bets. Round Robin bets can be utilized with all types of bets, not just the winner of an individual game. Another round robin bet example would be:
Parlay 1 – Giants to win vs Washington, Jets to win vs Minnesota
Parlay 2 – Tyreek Hill anytime TD scorer, Jonathan Taylor first TD scored
Parlay 3 – Justin Herbert over 312.5 passing yards, Bills vs Patriots over 46.5 points
Parlay 4 – Trailblazers to win vs Clippers, Jalen Brunson under 24.5 points.
For each of the individual parlays involved in the Round Robin that you get right, you’ll receive more of a payout. The benefit of Round Robins over placing the parlays individually is that combining them allows you to risk a smaller total amount. Albeit also a smaller potential payout.
Are Round Robin Bets Worth it?
The value of Round Robin bets depends entirely on what you are looking for as the bettor. If you want to take a flier on a wide variety of bets but don’t want to throw away a ton of cash, you can utilize Round Robin bets. However, if you’re seeking a high-risk, high-reward bet with a huge payout, they will be less than ideal for you. Ultimately, the odds of Round Robins are typically created by the individual sportsbook. So, you are best to compare the best options and find the sportsbook that offers you the highest payout available.