Check out SportsMemo’s guide to round robin betting strategy – we go into the two best round robin betting strategies after a quick explanation of what a round robin actually is! Oh, and then we’ll tell you all about round robin lingo, such as trixie, heinz, and many more round robin terms.
Parlays are always enticing for both customers and sportsbook operators alike. The customers can create chances of getting higher payouts by combining the results of multiple events together, while the sportsbook operators know this is one of their main moneymakers as parlays are way more difficult of hitting than a straight up, one-selection wager.
One variation of a parlay wager is a round robin, which has a slight insurance policy when compared to a regular parlay wager.
Remember! Sportsmemo offers round robin picks in our free picks and premium expert betting picks section all year long.
Round Robin Betting Strategy: What Is A Round Robin Bet?
A round robin bet is a variation of a parlay with three or more games. When selecting a round robin, the customer is betting a series of smaller parlays instead of lumping them into one must-win-all wager. The round robin name comes from a round-robin style tournament, where every team in a group plays each other.
Round Robin Example:
In a three-team standard parlay, teams A, B and C must win for a customer to win their wager.
However, in a round robin wager, the customer is betting three, two-team parlays involving the three selections: A two-team parlay where teams A and B must win, a two-team parlay where teams B and C must win and a two-team parlay where teams A and C must win.
Compared to a parlay wager where all three teams must win to win the wager, the round robin above only needs two of the three teams to win to receive back winnings.
If team C loses in the above scenario, the customer would get paid for the parlay between teams A and B, while losing the parlays between teams B and C and teams A and C. If all three win, you win each of the three two-team payouts.
This is why it is realized as parlay insurance, as a customer would not get paid out the same as hitting a three-team parlay, but the customer does not lose the entire wager if two of the three teams win.
A three-team round robin is the simplest version as the more games selected, the more parlay combinations a customer can create. It is possible to select 11 teams and create 2,036 parlay combinations.
Why Bet A Round Robin?
Round robin bets are a parlay variation that is comparatively easier to hit than a parlay. In a parlay, there is zero room for error where one loss makes the entire bet a loser, while a round robin doesn't allow one loss to ruin an entire ticket.
Round robins mitigate some of that risk because they aren’t contingent on hitting every single pick. They require a larger investment than traditional parlays but reduce the chances of a total loss. Although the risk aversion may sound bubbly to customers, it should still be realized that parlay betting is not the path for long-term success and round robins are still risky endeavors.
They can be costly once the number of selections increase due to the number of combinations wagered on. For example, a full cover round robin wager with 5 teams would amount to 26 total possible combinations, including: 10 two-team parlays, 10 three-team parlays, 5 four-team parlays and one 5 team parlay.
SPECIAL OFFER FOR FIRST TIME SUBSCRIBERS
Sign up for Sportsmemo news alerts and get free picks, discounts and
Round Robin Betting Strategy #1: Value In Underdogs
Taking a chance on an underdog can feel less stressful when it is involved in a round robin. In the simplest example, if a three-team round robin is being crafted and the money line odds for Team A is -250, Team B is -300 and Team C is +300.
The most likely result of this scenario is Team A to win, Team B to win and Team C to lose, but below let's look how all three outcomes look.
| Round Robin | Wager Amount | Odds | Payout |
| Parlay 1 (Team A x Team B) | $100 | -250 x -300 | $86.67 |
| Parlay 2 (Team A x Team C) | $100 | -250 x +300 | $460 |
| Parlay 3 (Team B x Team C) | $100 | -300 x +300 | $433.33 |
This customer is in for $300 total, as the round robin consists of three, $100 wagers. If the assumption in the scenario above is that the +300 underdog loses but the two favorites win, the customer would only have $86.67 remaining out of their $300 wagered.
The positive part of this is if it were a three-team parlay, the customer would have $0, but at least has $86.67 to fall back on. Round robins really show their stuff when a customer selects the correct underdog selection.
If the underdog team wins, Parlay 2 and Parlay 3 would be profitable endeavors if one of the two favorites pull through. Getting the underdog right in a round robin is a key for them to be used in any long-term strategy.
Round Robin Betting Strategy #2: Leave A Favorite Last
If the opportunity presents itself, leaving a decent-sized favorite as the standalone leg in a round robin can allow the customer to determine their possible winnings and mitigate risk.
Like other parlays, leaving the last leg as a favorite is the most favorable to the customer as they can react from there. It is easier to hedge on the money line with an underdog, the customer will have plenty of opportunities to live bet the underdog if they let the last-leg favorite ride, and there is an also a great chance to middle and double dip using the underdog spread.
Hitting the underdogs in round robins is the hard part, but if a customer can get over that hurdle, there are many ways to be profitable on the back end if using a standalone game.
Extra Round Robin Lingo:
For those wanting to be well-versed in the round robin universe, certain iterations of round robin cards have names that have been familiarized across sportsbooks.
- Trixie: 4 bets on 3 selections, including two By 2's and two By 3's.
- Patent. The same as Trixie but also involves 4 additional single wagers.
- Yankee. 11 bets on 4 selections, including six By 2's, four By 3's, and 4-leg parlay.
- Lucky 15. 15 bets on 4 selections. It includes four single bets, six By 2's, four By 3's, and a 4-leg parlay.
- Canadian. 26 bets on 5 selections. It consists of ten By 2's, ten By 3's, five 4-leg parlays, and one 5-leg parlay.
- Heinz. This is a major step up from the round robins as it includes 57 different bets on 6 selections.
- Lucky 63. This bet involves 63 bets on 6 different selections.
- Super Heinz. 120 bets over 7 selections.
- Lucky 127. Features 127 parlay combinations in total.
Remember! Sportsmemo offers round robin picks in our free picks and premium expert betting picks section all year long.
Looking for more free sports picks and sports betting tips?
- Latest Betting Odds and Public Action: Live odds updated in real time, including whom the public is betting on.
- Last Minute Handicapping Advice: Check out our extensive library of handicapping tips to help you become a better sports bettor. We also recommend browsing through our sports betting tips video library.
- Want an expert opinion? Check out the latest Free Sports Picks and Best Bets from our team of expert sports handicappers.