In our expert guide on round robins bets, you’ll learn more about round robin betting, what round robin bets are, the meaning of round robin bets, how round robin betting works for sports betting, and whether round robin betting is worth it.
What Is A Round Robin?
A round robin can be defined as a bet where more than two parties have to wager against each other, with all the Sportsbooks splitting the gambling stake. The participating teams or players are chosen ahead of time and do not essentially have to play against each other at the same time, making round robin betting an interesting alternative for those who want to bet on their favorite sports but can’t commit much money to it due to financial constraints.
Round Robin Bets Explained
In a round robin bet, bettors have to choose three or more teams from different leagues and/or sports that are participating in the same event. In most cases, the participants, as well as the rules of each match, are announced beforehand. The winning team is determined through a point system where three (3) points are given to those who win their games, one (1) point for those who play out a draw, and zero (0) points for those who forfeit.
How Does A Round Robin Bet Work?
There are two ways a round robin bet can be carried out – the total points betting where all teams need to score as many points as possible and the exact result, where a particular number of results has to be achieved. Sports bettors need to remember that most round robin bets have a draw clause or an insurance clause, which states that if no Sportsbook comes up after all matches have been played, the bet will either be refunded or winnings shared. In some cases, additional rounds may be added with more chances for participants to obtain a higher number of points.
What Does Round Robin Mean In Betting?
To enhance your understanding of round robin betting, round robin refers to a certain way of arranging a series of duels in which each person plays every other person once. In modern times, the term usually referred to a type of tournament in which each contestant played every other contestant at least once.
Round Robin Bet Meaning
The round robin format is used in many different sports tournaments, such as soccer, rugby, basketball, cricket and tennis. As you can see, round robin betting can be an interesting way to add excitement to sports betting, while also giving you multiple chances to win your bet. So before placing any bets on the Super Bowl this year, why not try out a round robin? You might just end up winning big.
Round Robin Betting In Sports Betting
Now that you know what a round robin bet is, let’s take a look at how it works for sports betting. To win a round robin bet, you need to correctly predict the outcome of all three or more matches. If you only predict two out of the three or more matches, you will still receive a payout, but it will be significantly lower than if you had correctly predicted all the matches.
For example, if you placed a round robin bet on three NFL games and correctly guessed the Sportsbooks of all three games, you would win triple your original stake. However, if you only guessed two of the games correctly, you would only win double your original stake. As you can see, round robin betting can be a lucrative way to make some extra money on sports betting.
One important thing to keep in mind when placing a round robin bet is that most online sportsbooks will refund your bet if no Sportsbook is determined after all the matches have been played. In some cases, your bet may be refunded with winnings, while in most cases it will be a full refund.
Are Round Robin Bets Profitable?
The answer to this question depends on several different factors, such as the betting lines offered by betting sites, the number of teams you select, and the amount you are willing to risk. However, in most cases, round robin bets are definitely worth your while.
Let’s say you place a round robin bet on three NFL games where you have to choose the Sportsbook of each game. Now let’s say that your Sportsbook gives you betting odds of +200 for each match, which means that every $100 in bets will result in a total payout of $300 if all three matches are correctly guessed.
If this is the case, then the best possible scenario would be placing all your money on one team with odds at +100 or greater. However, for round robin betting, these scenarios depend on how much you’re willing to risk and how confident you are in your selections.
Is Round Robin Betting Worth It?
Other than just placing straight bets on individual teams, there are other types of round robin wagers that may prove more profitable than others. You could try a two-way round robin where you only have to select two teams and the outcome of their match. This type of bet is usually offered at better odds than the three-way round robin, so it’s a great option for those who want to make a little bit of extra money without having to risk as much.
At the end of the day, whether or not round robin bets are profitable comes down to personal preference. However, we think that they are worth a try, especially if you enjoy betting on multiple matches at once. So why not give them a go this year and see how you do? You might just be surprised.
Round Robin Parlay Betting For Sports
Just like with regular round robin bets, you can select anywhere from two (2) to all eight (8) teams that will participate in the playoffs. Once you’ve made your selections, the next step is to place your bet on the total number of points you think will be scored in all of the matches combined. If you think there will be a total of 210 points scored in all the games, then your bet would be 210 points.
If you correctly predict the outcome of all the games, then you would win a payout that is usually equivalent to about 15 times your original bet amount. If you placed a $100 bet on 210 points, you would win a total of $1,500.
However, correctly predicting the outcome of all the games in round robin parlay combinations is no easy feat. It’s so difficult that the odds of doing so are usually around 1 in 500. In the end, whether or not round robin parlay bets are worth it comes down to how much money you are willing to risk and whether or not you think you can beat the odds.
Before placing your money down on these types of bets, make sure you do some research on your end and come up with a betting strategy that works for you. Round robin betting is a fun way to make sports bets and can give you multiple chances to win your wager.