Round robin betting is a method of creating multiple parlay opportunities from a selection of outcomes. Even if one team loses, you can potentially win on the other choice that don’t include the losing team. In this way, you can reduce the risk of losing your entire stake.
It is named after the round robin or all-play-all tournament style, where every team plays against all others.
How Round Robin Bets Work
This type of bet involves selecting three or more outcomes and combining them into a series of two-team parlays, effectively answering the question, “What is a Round Robin bet?”
- Team A + Team B
- Team A + Team C
- Team B + Team C
Imagine you select three upcoming English Premier League matches: Manchester United vs. Chelsea (Match A), Liverpool vs. Arsenal (Match B), and Manchester City vs. Tottenham (Match C). Then you create the following two-team accas:
- Parlay 1: Match A (Manchester United to win) + Match B (Liverpool to win)
- Parlay 2: Match A (Manchester United to win) + Match C (Manchester City to win)
- Parlay 3: Match B (Liverpool to win) + Match C (Manchester City to win)
Now, let’s say you decide to bet £10 on each option. Your total stake for the round robin bet would be £30 (£10 on each of the three parlays).
Here are the outcomes of the matches:
- Manchester United wins against Chelsea (Match A is a win)
- Liverpool wins against Arsenal (Match B is a win)
- Manchester City loses to Tottenham (Match C is a loss)
So, Parlay 1 (Match A + Match B) is a win, but Parlay 2 and Parlay 3 are a loss because Manchester City lost. The exact payout will depend on the odds provided by the bookmaker for each match outcome.
For example, if the odds were:
- Manchester United to win (Match A): 2.00
- Liverpool to win (Match B): 1.80
The combined odds for Parlay 1 = 3.60 = 2.00 (odds for Man United) x 1.80 (odds for Liverpool).
The payout for Parlay 1 would be £36 = £10 (stake) x 3.60 (combined odds).
Since choices 2 and 3 are losses, there is no return for them, and the £20 staked on these two parlays is forfeited. In this example, you’re at a £6 plus.
Benefits and Drawbacks
Round robin bets offer a safeguard against total loss, as not all options need to win to gain a payout. However, this approach requires a sophisticated strategy and a higher initial investment due to the multiple bets involved. As the example above shows, you must stake £30 at once (£10 on each of the three parlays).
Of course, you do not have to bet the same amount on each combination in a round robin bet. While it is common for bettors to wager the same stake on each parlay to keep things simple and evenly distributed, you have the flexibility to allocate different amounts to each combination.
For example, if you feel more confident about the outcome of one particular combination, you might decide to wager a higher amount on that parlay compared to others. Conversely, if you think an acca is riskier, you might choose to wager less on that pair.
Keep in mind that managing different bet proportions can complicate the process of tracking your bets and calculating potential returns.
Betting Strategy: How to Work Out a Round Robin Bet and Succeed
In general, it depends on the bettor’s ability to predict outcomes accurately. While it offers more chances to win compared to a traditional parlay, it doesn’t guarantee success. The more bets involved, the more complex it becomes to track and manage the wagers.
Ideally, the odds of each pair of bets should cover the next two, i.e. be at least 3.00. But a wager with odds of 3.00 itself means a winning probability of 33.3%. Therefore, you should not rely on the odds, but on the reasonableness of the choice.
Adding the “All Combinations” Option
You can also try the additional option of placing a round robin wager with three teams (A, B, C). It indeed includes all possible two-team parlays and the one three-team multi-bet. Here’s how it works:
- Team A + Team B
- Team A + Team C
- Team B + Team C
- Team A + Team B + Team C
If you decide to wager the same amount on each parlay, say £10, your total stake would be £40. Thus, if at least one team loses, three bets will lose at once, or 75% of your initial funding.