Round Robin Bets
One of the options in sports betting is to place a round robin bet. Round robins are a type of bet that is useful in certain situations. Continue reading below to learn more about how to invest in round robbins. If you would like to learn more, please email us at [email protected] and we will connect you with one of our Sports Investment Consultants.
What are Round Robin Bets?
A round robin bet is a way to set up multiple parlays at once. Most sports betting online will allow you to have between two to six teams. From a technical standpoint, you could simply make individual parlays but the benefit of a round robin is that it saves you the effort. If it sounds a bit confusing, let’s use an example to illustrate how it works. Let’s say you like these three betting picks:
- Green Bay Packers -3.5
- Dallas Cowboys -6.5
- New England Patriots -9.5
Let’s say you feel very confident about each of those games to the point where you’d like to create some parlays. You could do individual ones or if you played a round robin, the sports bettor would automatically create three two-game parlays of the variations here. So you’d get a parlay of:
Green Bay & Dallas
Dallas & New England
New England & Green Bay
In terms of the costs involved, you’re going to be paying three times – in this case – as you’re laying the same amount on each of the three parlays. Now remember, this is a three two-team parlay but of course, you can add in many more games if you like. If you add six picks with three permutations, you’d actually have a total of 20 bets going. Keep that in mind when you’re laying your action as the costs can add up very quickly.
Risk Versus Reward
It’s hard enough to win 55% of your picks but when you start getting into parlays, now you need even more to go right for you before you win. With a round robin, things start to get even more expensive.
Round robins can save you time if you were planning to make a bunch of bet combinations anyway. But in terms of whether you should be doing that in the first place is another question altogether.
Everyone loves the idea of betting $5 to win $500, but it’s just not a sustainable strategy in the long run. The odds are against you and that’s the case here with round robins as well.