What Is a Round Robin Bet?
Geoff Ulrich breaks down everything you need to know about round robin bets, including strategies, pros and cons, and comparisons to other types of bets.
What is a round robin bet?
A round robin bet is when you create multiple parlays from a series of selections on a sportsbook.
The round robin bet gets its name from the round-robin tournament format featured in events like the World Cup and WGC Match Play. In those events, every team is initially placed inside a starting group and then forced to play each team exactly once.
In a round robin bet, you are creating your own group and system of matchups, except with bets instead of teams.
For example, if we were to take three moneyline bets from the NFL Futures market and choose to create a round robin bet from the selections, our final bets would look like this:
Actual two-way round robin parlay with odds below, involving futures bets on: Dallas win NFC East +175/Bengals win AFC North +110/Jets win AFC East +210
- Dallas +175/Bengals +110 (+476)
- Dallas +175/Jets +210 (+752)
- Jets +210/Bengals +110 (+551)
How this might look on a sportsbook:
In this two-way round robin scenario, we end up with three two-leg parlay bets, with each team in our three-man pod matched with the other once. This is in contrast to placing a traditional parlay bet, which would see us create just one single three-leg parlay with our selections.
This is ALSO in contrast to a same game parlay, as round robin bets cannot feature multiple legs from the same game in most circumstances.
Actual three-leg parlay involving three teams with odds below:
- Dallas +175/Bengals +110/Jets +210 (+1689)
How this might look on a sportsbook:
What is the difference between a round robin bet and a parlay bet?
There are some obvious differences to note right off the top between round robin bets and traditional parlay bets.
In the round robin, if one of our selections loses, not all of our bets necessarily lose. That’s because our round robin is made up of multiple parlay bets where not every team is involved.
In the above example, if Dallas loses their division but the Jets and Bengals win, then the two bets in our round robin involving Dallas would lose, but the Jets/Bengals leg would cash. Assuming a $50.00 investment on each bet ($150.00 total investment), our profit/loss scenario would look like this:
- Dallas +175/Bengals +110 (+476) - LOSS -$50.00
- Dallas +175/Jets +210 (+752) - LOSS -$50.00
- Jets +210/Bengals +110 (+551) - WIN +275.50 ($325.50 payout)
Given the larger odds involved in the above bet, just winning that single portion of our round robin bet not involving Dallas would also allow us to profit nicely off the round robin wager.
In this sense, round robins do add in a sense of security or safety for bettors while also giving them a shot at big payouts, if all their legs hit.
However, the downside to round robin bets—and why you need to be very vigilant when making them—is that they require a much bigger investment.
While the traditional three-way parlay involving these three division winner bets only requires us to invest in one bet (in this case, $50.00 total) the round robin bet asks us to invest one bet for each leg of our round robin (in this case, $150.00 total).
Round robins vs. parlays
The round robin bet does ask us to make a bigger investment, but it also gives us a chance at bigger payouts—while taking out some of the risk. In the above example, if we win all three of our bets, then our payout would grow to include wins from the other two legs:
- Dallas +175/Bengals +110 (+476) WIN +238.75 ($288.75 payout)
- Dallas +175/Jets +210 (+752) - WIN +376.25 ($426.25 payout)
- Jets +210/Bengals +110 (+551) - WIN +275.50 ($325.50 payout)
TOTAL WIN: $890.50 (payout $1040.50)
This is in comparison to a three-way parlay of those same selections where a win would play out as follows:
- Dallas +175/Bengals +110/Jets +210 (+1689)
TOTAL WIN: $845.13 (payout $895.13)
As we can see, while the payout from winning the round robin bet is higher, the actual return with the straight parlay bet is better. Investing $50.00 in a single three-leg parlay nets us a far better ROI when it hits than does the $150.00 we invested in the round robin. The parlay also requires us to put up less capital.
There are still reasons to use a round robin over a parlay, most of which have to do with getting access to bigger payouts on a selection of picks, or as a way to build in extra security in case one of our legs misses.
However, it is important to remember that round robins are also a tool that sportsbooks love to offer as they get us betting parlays more often.
While round robins often allow bettors to deploy some kind of hedging strategy to offset cost and risk, you still need to be wary of the total cost involved, and the alternative methods of betting. In this sense, a parlay betting calculator can be a very useful tool when creating effective round robin bets.
As the example above illustrates, round robins can be fun and offer us access to big payouts, but they are also complex bets to both place and understand. Developing an understanding of how round robin bets work should be done before you place your first round robin bet. That way you can deploy proper bet sizing and create the types of round robins most advantageous for your specific goals.
How do round robin bets work?
With the legalization of sports betting across the United States, round robin bets are now available in numerous different shapes and sizes across most online sportsbooks. Many sports betting apps will now allow you to create round robin bets with 10 or more teams.
The important thing to remember with round robins is that as you add in more bets, your choices on how to construct your round robin bet go up. A three-leg round robin bet only gives you one option, to create a two-way, or two-leg, parlay round robin bet (two-way referring to the fact that each bet involves just two teams).
However, as your round robin bet increases in legs, you can also increase the size of the parlays you are creating.
For example, if you wanted to create a round robin with five legs (five bets) then you could still make a round robin involving only two-leg parlay bets—sometimes referred to as a two-way round robin. This would work the same in terms of matchups as a round robin with three legs (three bets) would, but would involve a substantially higher number of total parlay legs.
| Number of legs (single bets) in round robin | Number of legs (bets) per parlay | Total parlay bets in round robin |
|---|---|---|
| 3 | 2 (2-leg parlay) | 3 |
| 5 | 2 (2-leg parlay) | 10 |
As a result, a five-leg round robin involving two-leg parlays would obviously also involve a substantially higher investment if you kept the bet size the same.
However, one workaround is that as you add more bets to your round robin, you also have the opportunity to create larger parlays, often with fewer bets involved and higher payouts due to the added leg (e.g., three-leg parlays vs. two-leg parlays).
Because you now have five bets involved, a three-way or even four-way round robin could be created, giving you the ability to invest less and still gain access to additional security as well as higher payouts.
| Number of legs (single bets) in round robin | Number of legs (bets) per parlay | Total parlay bets in round robin |
|---|---|---|
| 5 | 3 (3-leg parlay) | 10 |
| 5 | 4 (4-leg parlay) | 5 |
| 7 | 5 (5-leg parlay) | 21 |
| 7 | 6 (6-leg parlay) | 7 |
| 9 | 7 (3-leg parlay) | 36 |
| 9 | 8 (3-leg parlay) | 9 |
How do round robin bets pay out?
Taking the examples from the table above, if we were to create a five-team round robin bet involving three-leg parlays (three-way round robin) instead of two-leg parlays, our investment would still involve 10 bets.
However, since we’d be dealing with three-leg parlays, our bet sizing would not need to be as large to reach the same kind of payout.
See below for an example:
Two-leg parlay from a five-leg round robin bet involving division winner bets on the following legs:
Bengals +125, Eagles +110, Lions +140, Saints +140, Bills +130
With a $20.00 investment on each bet ($200.00 total):
Three-leg parlay from a five-leg round robin bet featuring the exact same selections:
With a $10.00 investment on each bet ($100.00 total):
As we see above, even with an investment that is 50% less than we made in the two-leg round robin, our payouts in the three-leg round robin are still higher than the two-leg.
Obviously, we are taking on bigger risk using three-leg parlays instead of two, but the above exemplifies how much of a bigger investment is required when your round robin bet grows in size and you keep your parlays to just two legs.
Types of round robin bets explained
3-leg round robin bet
A three-leg round robin bet involves three bets or three teams. It is the minimum number of legs needed to create a robin robin bet. As we showed earlier, a two-way round robin bet involves pairing all three of your legs together to create three two-leg style parlay bets.
| Number of legs (bets) included in round robin | Number of legs (bets) per parlay | Total bets in round robin |
|---|---|---|
| 3 | 2 | 3 |
5-leg and higher round robin bets
A five-leg round robin bet involves five bets. With a five-leg round robin bet, you now have the ability to create a round robin involving two-, three-, and four-leg parlays (referred to as two-way, three-way, and four-way round robins).
| Number of legs (bets) included in round robin | Number of legs (bets) per parlay | Total bets in round robin |
|---|---|---|
| 5 | 2 | 10 |
| 5 | 3 | 10 |
| 5 | 4 | 5 |
You can of course go even higher if you want. Many sportsbooks will allow you to create round robins that include up to 10 legs, and many will allow you to go even higher.
If you are creating round robins with more than three legs, you need to be vigilant of the payouts, the cost, and also the kind of round robin you are creating.
An eight-leg round robin created with seven-leg parlays (a seven-way round robin) will have a low chance of hitting but will also have a lower investment. An eight-leg round robin created with three-leg parlays (a three-way round robin) will give you a higher chance of hitting some of the bets, but requires a much bigger investment.
How to place a round robin bet
Most sports betting apps have a round robin selection for you to choose which will automatically create a round robin bet for you once three or more bets are added to your bet slip.
Once you click on the round robin option, you then will also have to choose both your wager size on the bet slip and how many ways (parlay legs) you want the round robin to be.
Round robin bets are more sophisticated and complex than a regular bet or even just a straight-up parlay. Each sportsbook will have different software and offerings involved, so it’s always important to check both your wager size and actual selections (both bets and round robin type) before hitting send.
Checklist for placing a round robin bet:
- Select the appropriate bets from the sportsbook to be included in the round robin bet.
- Once finished, select “round robin” from the menu above on the app—sportsbooks will differ from app to app on how this is achieved.
- Select the number of ways you want to make the round robin bet—two-way = two-leg parlays, three-way = three-leg parlays, and so on.
- Select the bet amount you want to make for each round robin bet—reminder that your bet size will apply to each bet within the round robin.
- A $50.00 bet on a round robin that includes three two-leg parlays will cost $150.00.
- Review your bet and ensure you are happy with the bets included, the bet size, and the payouts.
- Use a parlay calculator if needed to help determine cost and payouts.
- Place your bet.
Round robin betting strategies
Since round robins give us both better security and access to bigger potential payouts, they can be useful if you are able to identify a handful of solid bets with longer odds attached.
Using underdogs or bets with odds of even (+100) or better in round robins not only gives you access to bigger payouts, but with bigger odds for each leg of your parlay, you’ll also have a better chance at profiting even if all your legs don’t hit.
Another viable strategy? Making sure you are getting the best value on your round robin when comparing odds across sportsbooks. This also opens you up to generous welcome offers, including BetMGM's First Bet Offer. Get up to $1,000 paid back in bonus bets if your first bet does not win by following the offer below.
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New York Jets wide receiver Garrett Wilson (17) catches a pass ahead of Cincinnati Bengals safety Vonn Bell (24) in the first quarter of the NFL Week 3 game between the New York Jets and the Cincinnati Bengals at MetLife Stadium in East Rutherford, N.J., on Sunday, Sept. 25, 2022. Cincinnati Bengals At New York Jets Week 3
The example from earlier exemplifies this point. Since all three legs of the two-way round robin have decent odds of even or better, even when one misses, we still walk out with a decent profit.
- Dallas +175/Bengals +110 (+476) - LOSS -$50.00
- Dallas +175/Jets +210 (+752) - LOSS -$50.00
- Jets +210/Bengals +110 (+551) - WIN +275.50 ($325.50 payout)
Hedging with round robins is also something to consider. The act of hedging is essentially about limiting risk or securing profit. In larger round robin bets, if you have swept the first portion of your bets and only have one leg to go, you might consider betting the other side of that game or prop in order to shore up more profit.
Example of hedging in a round robin bet:
- You create a five-way (five-leg parlay) round robin using six bets.
- The first five bets all are graded as wins.
- While you have already secured some kind of return thanks to five of the six bets winning, you could secure more profit by betting the opposite side of your final bet.
- If the final bet wins, you’ll secure a hefty sum, as every bet in the five-way round robin will cash.
- However, if the final bet loses, and you hedge (bet the other side), you’ll still secure additional profit.
When to hedge in a round robin depends on a lot of things, including investment size, risk tolerance, and timing (when the games are scheduled), but it is certainly a strategy you can employ as your round robin plays out.
Pros and cons of round robins
Round robins are a more advanced type of parlay betting. Deploying them successfully requires a bigger investment as well as the ability to understand risk, how payouts work, and other important information like correlation in sports betting.
Pros of round robin bets
- Round robin bets provide better security than traditional parlays as not all your legs necessarily have to win for you to profit.
- You can use correlated selections in your round robin to help improve winning probability.
- Hedge betting can help secure profits toward the end of a round robin bet.
- Round robin bets give you the chance for a substantial payout.
- You are less likely to lose money on a round robin bet than you are a traditional parlay.
Cons of round robin bets
- A round robin bet typically requires a larger investment and therefore often requires that you put more capital at risk than you would in a traditional parlay.
- Round robin bets are sophisticated and, depending on the sportsbook, difficult to place and track.
- Certain online sportsbooks limit round robin bet options.
- Round robin bets are parlays that are often long-term -EV (not profitable).
Best sports for round robins
Round robins can be used in any sport. Some sports offer better opportunities for round robin betting—or at least will present bettors with better opportunities to profit from this style of bet.
NFL
Every week in the NFL we get plenty of point spread options and big moneylines to choose from. Underdogs in the NFL will go off anywhere from +100 to +500 on a given week.
Since the NFL slate is also spread over multiple starting times, round robin parlays can be created in such a fashion as to give yourself a shot at hedging against the final leg—assuming one or multiple bets include either the Sunday night or Monday night games.
You can also use NFL Futures in round robin bets, such as division winners, win total bets, or to make/miss the playoffs bets. Futures are good round robin targets as you often have plenty of time to hedge as the season plays out on your various legs.
From this standpoint, futures markets in MLB, NBA, and NHL can also be viewed as good targets for round robin bets.
Correlation in betting NFL round robins can also occur. When poor weather affects an area of the country, often that will lead to depleted scoring across the slate and make a series of under bets worth using in a round robin.
PGA
PGA betting has exploded over the last few seasons, with most online sportsbooks now offering lots of different betting categories on every PGA event.
Many sportsbooks will allow bettors to create round robins around top-20 placing bets and to make/miss the cut bets.
These types of PGA round robin bets can be correlated either to course type or wave. For example, if you were making a round robin bet in golf around a series of players missing the cut, you may decide to target players in a specific starting block (a.m. vs. p.m.) if the weather was known to be worse in that specific portion of the draw.
MMA
MMA betting is great for round robins as it provides us with plenty of longshot bet options (win by submission, winning round, etc.) on every slate. MMA events also work well with a hedging strategy as the fights all have different starting times, leaving us opportunities to hedge against the final leg of a round robin if we so please.
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Round robin FAQs
How many teams can be included in a round robin bet?
The answer is, it depends. Many sportsbooks will limit users to 8 or 10 legs when creating round robins. However, there are sports betting apps that now allow users to create substantially larger round robins.
Check the terms and conditions of the sportsbook you are using to find out what they offer in terms of round robin bet sizing.
How are round robin bets different from parlays?
Parlays involve a single bet, created when we put together multiple selections on an online sportsbook.
Round robin bets also include multiple selections or bets, but instead create multiple parlays from our selections, giving us access to bigger payouts and more betting combinations.
In the round robin, if one of our selections loses, not all of our bets necessarily lose. That’s because our round robin is made up of multiple parlay bets where not every team from our group of bets is involved.
What are the most popular sports for round robin bets?
You can create round robin bets in almost any sport. NFL, PGA, and MMA tend to be some of the most popular sports to build round robin bets around.
What is an each-way round robin?
An each-way is a bet that involves two legs. It is common in sports like Nascar, golf (PGA), and horse racing. An each-way bet involves placing a bet to win and a bet to place. The terms of the placing bet are dependent on the event and sportsbook.
An each-way round robin is created when you combine different each-way bets into a round robin bet. Generally, that may mean taking each-way golf bets from different events or horses from different races in each-way bets and then combining them.
Round robin betting terminology
Round robins do have some terminology that can be confusing at first. There are also exotic round robin bets which have their own terms and are useful to understand. Outlined below are some of the common terms of bets surrounding round robins and what they refer to.
2-way round robin: a two-way round robin is a round robin where each parlay included in the round robin bet has two legs or bets. A two-way round robin can also be referred to as a “two-leg parlay” round robin.
3-way round robin: a three-way round robin is a round robin where each parlay included in the round robin bet has three legs or bets. A three-way round robin can also be referred to as a “three-leg parlay” round robin.
Trixie: a type of round robin bet that involves three selections. It gives the bettor four different parlay combinations—three two-leg parlays and one three-leg parlay.
Patent: a type of round robin bet that involves three selections. It gives the bettor seven different bets—three two-leg parlays, one three-leg parlay, and three single bets on your three selections.
Yankee: a Yankee round robin bet features four teams or bets. The four bets are then spread across 11 different parlays. This includes six two-team parlays, four three-team parlays, and one four-team parlay.
Canadian: a Canadian round robin bet features five teams or bets. The five teams are then spread across 26 different parlays. This includes 10 two-team parlays, 10 three-team parlays, 5 four-team parlays, and 1 five-team parlay. A Canadian can also be referred to as a “super yankee.”