Round Robin wagers can be viewed as a creative type of Parlay because they involve placing multiple stakes simultaneously. They get their name from the tournaments where every team taking part plays against one another at least once.
Breaking Down This Bet
If there are several wagering lines you want to stake on by creating a Parlay, like Moneyline, Spread, and Totals bets, you have two options:
- Construct one big Parlay that somehow ties together the results of all events.
- Build several smaller Parlays to include all possible event outcome combinations.
The first option is the traditional Parlay, No. 2 is a Round Robin. You’ll need to incorporate a minimum of three Parlays in your Round Robin, but there is technically no maximum. It depends entirely on the combinations you want to wager on and the size of the Parlays you’re interested in making. Although you’re looking at smaller payouts with these stakes, you can also enjoy a higher chance of success.
Round Robin Betting as a Strategy
In terms of hedging, these wagers are a wonderful way to minimise your losses without compromising too much on the potential payout. You’ll see less of a return on these stakes than if one huge Parlay hits, but you don’t have to worry about forfeiting your entire bet if you’ve mispredicted the result of just one event.
Round Robins can be seen as a type of security policy that carries with it the same chance of a big payout as Parlays offer but far less risk.
Constructing a Round Robin Bet
The most popular sports for these kinds of wagers are Football and Horse Racing and you’ll need to create at least three distinct Parlays with a minimum of three separate lines. It’s not as confusing as it sounds!
Let’s say you really like the following lines:
- Collingwood Football Club +7.5 (-110)
- Essendon FC -3.5 (-110)
- Sydney Swans +1.5 (-110)
If you were setting up one regular Parlay, you would need all three teams to Cover the Spread. Round Robin betting, however, lets you enjoy a little security because you’ll be constructing three different two-team parlays.
A standard two-team Parlay listing both teams at (-110) would pay you out at +260. Let’s say that you’ve staked AU$5 on each of the three of these. If everything goes as it should, you’d get AU$39 profit and get your AU$15 bet back.
But if one event in our Round Robin failed, you would still collect AU$13 and get your AU$5 back. One successful Parlay would return AU$18, including the AU$5 wager. So, you would still break even with the Round Robin, even after the failure of one leg.
Say you staked that same AU$15 and created a single three-team Parlay featuring Collingwood, Essendon, and the Swans covering the spread. If it saw success, you’d pocket AU$15. But, even if just one team failed, you’d lose everything! Not so with the Round Robin.
If you want the same great rewards that Parlays can provide but are uncomfortable with such a big risk, these wagers are right up your alley!