What is a round robin bet?

A round robin bet is a type of parlay betting strategy that allows you to place multiple parlay bets at once, covering different combinations of your chosen selections. Instead of needing all your selections to win like a traditional parlay, a round robin bet allows you to win even if some of your selections lose.

Here's a breakdown:

• Concept: Think of it as creating a series of smaller parlays from a larger pool of bets. For instance, if you select four teams to win, a round robin allows you to create two-team parlays, three-team parlays, or a combination of both.

• How it Works: You choose the number of teams (or selections) you want to include in each individual parlay. For example, a "round robin by twos" with four teams will create all possible two-team parlays from those four teams. A "round robin by threes" will create all possible three-team parlays.

• Advantages: The main advantage is that you don't need every selection to be correct to win some money. This reduces the risk compared to a standard parlay. It provides a built-in "insurance" in case one or more of your selections lose.

• Disadvantages: The main disadvantage is that it can be more expensive than a straight parlay. You're placing multiple bets, so your total stake is higher. Also, while it reduces risk, it also reduces potential payout compared to a straight parlay where all legs must hit.

• Example: Let's say you pick four teams: A, B, C, and D. If you do a "round robin by twos," you're creating these parlays: AB, AC, AD, BC, BD, CD. If you bet $1 on each parlay, your total stake is $6.

• Types of Round Robin Bets: The most common types are based on the number of teams included in each parlay (e.g., "round robin by twos," "round robin by threes," "round robin by fours," etc.). It's important to understand the specific rules and payouts offered by the sportsbook you are using.

Here are links to some related concepts:

• Parlay Bet
• Betting Strategy
• Sportsbook
• Stake